2014 Triangle Apartment Association Fall Construction Bus Tour to Feature KARNES

Posted on October 16, 2014 by - Apartments, Construction Update, Development, Events, Raleigh, Triangle, Triangle CPE

2014 Fall Construction Bus TourKARNES is proud to announce that Managing Partner, Brian Reece, will be a narrator for the upcoming Triangle Apartment Association (TAA) Fall Construction Bus Tour. In addition to seeing several new apartment communities in the Triangle, bus tour participants will also receive market information including analysis by KARNES.

Don’t miss this truly unique experience to hear from industry leaders about submarket performance, market trends, new product trends, demographic and employment statistics, and factors that are driving new development.  Whether you are an investor, owner, developer or operator, you will walk away with a better understanding of the Raleigh-Durham-Cary Market!

The bus tour will take place Friday, October 17th from 9AM-3PM.  Cost is $75 Members/ $85 Non-Members

Click here for more information or to register today!

NAIOP Triangle Bus Tour SOLD OUT!!!

Posted on October 7, 2014 by - Commercial Property Exchange, Construction Update, Development, Durham, Events, Raleigh, Subscribers, Triangle, Triangle CPE

NAIOP SOLD OUTLast month we mentioned a limited seating event that you didn’t want to miss, and we would like to inform you that the NAIOP Triangle Bus Tour is SOLD OUT!!!  The tour is a truly unique experience to see proposed, renovated, or under construction properties in the Triangle!  NAIOP Triangle brought back its signature bus tour event that  allows real estate professionals to gather the latest insight and “real time” data on office development in the Triangle.

KARNES is proud to be a Gold Sponsor of NAIOP Triangle and will be the exclusive data and research provider for the bus tour.

The bus tour will take place Thursday, October 9th from 9AM-4PM and includes lunch, all day parking, reception, and much more!  For event details, please refer to the following link:  http://www.naioprt.org/events.cfm

KARNES Tri-City North Carolina Retail 2013 Year in Review

Posted on July 21, 2014 by - Chapel Hill, Charlotte, Commercial Property Exchange, Construction Update, Development, Durham, Greensboro/Winston-Salem/High Point, KARNES Perspective, KARNES Tri-City Report, Raleigh, Retail, SiteIndex, Triad CIE, Triangle, Triangle CPE, Western NC, WNC CPE

A combined total of 144.8 million square feet of retail space was located within the Tri-City area at the end of 2013. With a retail inventory totaling approximately 60.7 million square feet, the Charlotte market was the largest of the three North Carolina retail markets, accounting for 42% of the retail inventory. The Triangle market ranked second with 46 million square feet of retail space, while the Triad maintained 38 million square feet of retail space. After declining to a historical low of 541,782 square feet in 2002, retail construction increased to nearly one million square feet in the Tri-City markets during 2013. New retail supply during 2013 was most pronounced in the Triangle region, where 693,982 square feet of new space was delivered. The Charlotte region ranked second with 231,680 square feet of new retail space completed during 2013, while the Triad region reported 38,000 square feet of new retail during 2013. Only the Charlotte region reported a continued decline in new construction from the level reported in 2012. While retail construction in the Tri-City area increased during 2013, the level of new supply remained well below the 2.6 million square feet averaged annually between 2008 and 2011.
KARNES Tri-City Retail Vacancy Trends
The relatively low supply-side pressures from new construction allowed for vacancy rates to decrease in all of the Tri-City markets during 2013. At 8.0%, the Charlotte retail vacancy rate decreased 0.6% of a point during 2013 as net absorption totaling 494,986 square feet outpaced the 231,680 square feet of new supply. Despite the decrease, the Charlotte vacancy rate remained above the 6.9% reported in 2008. The Triangle retail vacancy rate decreased 0.4% of a point during 2013 as net demand totaling 849,391 square feet outpaced 693,982 square feet of new supply. The Triangle’s 2013 vacancy rate of 6.6% was the lowest of the Tri-City markets, but remained 0.1% of a point higher than the 6.5% reported in 2008. New retail supply totaling 38,000 square feet in the Triad market was outpaced by net demand totaling 386,123 square feet during 2013. As a result, the Triad retail vacancy rate decreased 0.9% of a point to 10.1% from the 11.0% reported at the end of 2012. Despite the decrease, the rate remained 0.5% of a point higher than the 9.6% reported at the end of 2010.
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KARNES Tri-City North Carolina Office 2013 Year in Review

Posted on July 21, 2014 by - Charlotte, Commercial Property Exchange, Construction Update, Greensboro/Winston-Salem/High Point, KARNES Perspective, KARNES Tri-City Report, Office, Raleigh, SiteIndex, Triad CIE, Triangle, Triangle CPE, Western NC, WNC CPE

A combined total of 117 million square feet of office space is located within the Tri-City area. Totaling nearly 50 million square feet at the end of 2013, the Charlotte market is the largest of the three North Carolina office markets. The Triangle market ranked second with 41.4 million square feet of office space, while the Triad maintained 25.7 million square feet of office space. After reporting a total of 1.48 million square feet of new office construction in the Charlotte, Triangle, and Triad regions during 2012, new supply came to a halt during 2013 and marked the first time in over 25 years that no new office space was completed in the combined Tri-City region.

The decrease in supply-side pressure allowed for gains to be reported in each of the Tri-City markets. The Charlotte market reported the greatest gains during 2013 as net absorption (demand) totaling 1.3 million square feet resulted in a 2.5%-point decrease in the office vacancy rate. The year-end 2013 rate of 14.8% in Charlotte was the lowest vacancy rate among the three markets, with the Triangle and Triad both reporting a rate of 15.0%. The year-end 2013 Triangle vacancy rate was 0.6% of a point lower than the year-end 2012 rate as net absorption totaled 204,615 square feet. The Triad region reported a 0.2% of a point decrease in vacancy during 2013 as net absorption totaled 162,219 square feet.

KARNES Charlotte Office Leasing Activity

With net absorption totaling 1.3 million square feet, the Charlotte region reported the highest level of net demand during 2013. The Triangle region ranked second in terms of office demand during 2013 with net absorption totaling 204,615 square feet. The Triad market reported 162,219 square feet of net demand during 2013. Four office tenants occupied over 100,000 square feet in the Tri-City markets during 2013, with the largest tenant occupancy reported at Ballantyne – Gragg Building, where MetLife took 284,212 square feet. MetLife also accounted for the fourth largest gain as the company took 104,747 square feet of space at Ballantyne Three. Ballantyne Corporate Park also accounted for the largest contraction during 2013 in the Tri-City markets as AXA Equitable Life Insurance relocated from 152,000 square feet at Ballantyne – Rushmore One to 141,647 square feet at Innovation Park Building 202.

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KARNES Continues New User Surge In May

Posted on June 2, 2014 by - Asheville, Chapel Hill, Charlotte, Commercial Property Exchange, CPE Weblink, Durham, Greensboro/Winston-Salem/High Point, New Subscribers, New Users, Office, Raleigh, Retail, SiteIndex, Triad CIE, Triangle CPE, Users, Western NC, WNC CPE

New KARNES MembersAs May 2014 comes to an end, we reflect on new companies and brokers across North Carolina that have joined this past month. We would like to welcome the following organizations and users, who will be utilizing the power of KARNES systems to make 2014 a success!

Welcome New Members

  • Jamie Davis at Colliers International
  • Jessica Peadon at Colliers International
  • Caroline Gorrell at Key Commercial Real Estate
  • Lee Jackson at Legacy Real Estate Advisors, LLC
  • Scott Davies at NAI Southern Real Estate
  • Jean King at Berkshire Hathaway HomeServices Yost & Little Realty
  • Tracy Dodson at Lincoln Harris – Corporate
  • Alec Cantley at Carolina Mountains Sales
  • Paul Pursell at Colliers International
  • Robert Podewils at Sperry Van Ness/Commercial Real Estate Advisors
  • Don Batten at Real Living Pittman Properties
  • Elizabeth Luck at Real Living Pittman Properties
  • Mark Staples at KW Commercial-Chapel Hill
  • Jared Londry at Cassidy Turley
  • Jasmine Turner at Legacy Real Estate Advisors, LLC
  • Mike Linford at KW Commercial-Chapel Hill
  • Joe Tomlinson at Berkshire Hathaway HomeServices Yost & Little Realty
  • SiteIndex CPE Weblink: Clearview Commercial Real Estate Advisors

Not a subscriber? Contact our sales team today!

Congratulations to the 13 Honored At TCREW Champions Awards

Posted on May 2, 2014 by - Commercial Property Exchange, Events, Office, Raleigh, Triangle, Triangle CPE

Thirteen winners were honored on May 1st, a the 2014 TCREW Champion Awards, of which KARNES managing partner Brian Reece was honored to serve as a panel judge. Mr. Reece, who has served as a judge for the Champion Awards for each of the past 8 years, was one of six panel judges that included the following:

  • Adrienne Cole, Senior Vice President and Executive Director of Wake county Economic Development
  • Ted Conner, Senior Vice President of Economic Development for the Greater Durham Chamber of Commerce
  • Lee Anne Nance, Executive Vice President of the Research Triangle Regional Partnership
  • Liz Rooks, Executive Vice President and Chief Operating Officer of the Research Triangle Foundation
  • Brian Reece, Managing Partner of KARNES

The well-attended Triangle Commercial Real Estate Women (TCREW) event was held at the Cary Embassy Suites and the award winners included the following:

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KARNES To Attend Triangle NAIOP Luncheon

Posted on April 30, 2014 by - Commercial Property Exchange, Events, Raleigh, Triangle, Triangle CPE, Uncategorized

NAIOP Research TriangleBrian Reece, managing partner, will be representing KARNES at the Triangle NAIOP Luncheon being held Wednesday, April 30th.

According to the NAIOP site, this event will host featured speaker Jim Hartmann. Jim, the new Wake County Manager, will discuss what attracted him to the area and how he plans to address the growth issues here, followed by Q&A.

The event, which will take place from 11:30AM-1:00PM at the NC Museum of Art in Raleigh.

KARNES To Attend State of Downtown Raleigh 2014

Posted on April 16, 2014 by - Commercial Property Exchange, Events, Office, Raleigh, Retail, Subscribers, Triangle CPE

dra_logo_smallBrian Reece, managing partner, will be representing KARNES at the State of Downtown Raleigh (DRA) 2014 being held Thursday, April 17th.

According to the Downtown Raleigh Alliance site, this event will provide a comprehensive market analysis of Raleigh’s Central Business District (CBD) for the purpose of informing – and exploring new partnerships with – the investor and real estate community.   This is the premier event for developers, brokers, and economic developers whose clients would benefit from learning more about Raleigh’s CBD.

David Diaz, President & CEO of the DRA, will moderate the panel discussions at the event.

As Silver Sponsor’s, KARNES is proud to attend this event, which will take place from 8:00AM-10:00AM at the Duke Energy Center for the Performing Arts in Raleigh.

The Triangle CPE Just Keeps Getting Better

Posted on March 28, 2014 by - Commercial Property Exchange, Durham, New Features, Raleigh, Triangle, Triangle CPE

Over the past few months the KARNES team has been working diligently to enhance the Triangle Commercial Property Exchange (Triangle CPE) and we are pleased to provide you a with an overview of the many new features and upgrades that have been put in place.

Brochures

We are continually looking for ways to improve our brochure creation process and a lot of effort went into making these even better over the past few months. Streamlining the process of creating a brochure was implemented as well as the following key upgrades:

Add Listing Flyers

Looking to create a comprehensive package to take to your client? Look no further than this new feature to Brochures. With the simple click of a button, you can now include all flyers (PDF only) attached to any listing. This works when creating a Brochure of a single listing or even a Brochure from a portfolio of listings. All listing flyers are included in the correct order allowing you to quickly email or print all information on a listing or set of listings.

Add a Flyer

Unit Details on One Page

Looking to create a Brochure for a listing that has many units? This new features allows you to include all of the unit details for any listing on a separate page. Great for those office towers!

Append Unit Page

Transaction Details on One Page

Are you looking to create a Comp Brochure for a property with multiple transactions? Then the new Transactions Details option will allow you to add one page to any Brochure that includes all of the transactions recorded on a single property.

Appending Comp Details

Mapping

Mapping is crucial to commercial real estate and the Triangle CPE is always seeking to improve how we view and find properties when using a map. We are please to announce that the entire mapping platform was upgraded over the past few months and has resulted in faster speeds, better support for mobile and newer bowsers, better geocoding and much more, including the following:

Street View Available on All Maps

With this latest upgrade you can now access Google’s Street View feature when viewing any map on the Triangle CPE. Simply click on the Street View Man and position on the road you would like to view and that’s all there is to it!

Street View

Bird’s Eye View Available on All Maps

If the satellite or street view options don’t provide enough details for you, there are now Bird’s Eye View (45 Degree) images available to you in many areas. Simple click on the Satellite option and zoom in until the 45 Degree option is activated. Please note this is only available in some areas.

Birds Eye Raleigh

Improved Polygon and Radii Searches

Polygon and Radii map searches are among the most powerful features of the Triangle CPE and we’ve only gone and made them better! When searching, simply click on the Map tab and select from either the Polygon or Radii to begin utilizing this feature. We’ve made the creation of polygons and radii even smoother in this new version and you can even fine tune your polygon or radii after you’ve performed a search. Did you work hard to create the perfect polygon? Be sure to save your search to utilize it over and over again!

Polygon Map Search RTP

We Didn’t Stop There!

In addition to these great new features, we also fine-tuned and upgraded many other areas of the Triangle CPE. Below is a list of changes (not comprehensive) that have been made:

• Added a pagination bar to the bottom of the screen when more than 5 results per page selected

• Created a method to allow users to define default search result display (number of listings per page, etc.)

• Upgraded coding to work better with the latest browsers

• Added traffic analysis and transaction analysis to the main navigation menu

• Added option to allow for the creation of a PDF of traffic analysis

• Added ability to delete multiple portfolios

• Show Listing Details on Private Listing to Listing Owner Only

• Added option to sort a Portfolio by Sale Price Per SF or Acre

• Economic Developer Link adjustments to allow for customization of style and support for additional query parameters

 

And We Are Just Getting Started

These are just a sampling of the new features and upgrades to the Triangle CPE over the past few months, but we are not stopping there. Expect many more things to come during 2014!

Thanks for your continued support of the Triangle CPE and KARNES!

KARNES Suit and Tie Ready For TAA’s 30th Anniversary Gala Celebration

Posted on February 27, 2014 by - Apartments, Events, Raleigh, Triangle, Uncategorized

TAA BrianBrian Reece, managing partner of KARNES, will be sharply dressed and in attendance at the black tie, formal TAA (Triangle Apartment Association) 30th Anniversary Gala Celebration.

According to the TAA website, the 30 year celebration will include food, music, dancing, networking and a stroll down memory lane!

The event will take place Thursday, February 27th from 6-9pm at the Renaissance Raleigh North Hills Hotel.

Looking for a one-stop solution for Triangle apartment market research and analysis? Contact our sales team today!