KARNES New Membership Surges Heading Into Final Quarter

Posted on November 7, 2014 by - Asheville, Charlotte, Commercial Property Exchange, CPE Weblink, Greensboro/Winston-Salem/High Point, New Subscribers, New Users, Raleigh, SiteIndex, Subscribers, Triad CIE, Triangle, Triangle CPE, Uncategorized, Users, Western NC, WNC CPE

New KARNES MembersWith only 2 months remaining in 2014, we reflect on new companies and brokers across North Carolina that have joined the past two months. We would like to welcome the following organizations and users, who will be utilizing the power of KARNES systems to make the remainder of 2014 a success!

 

Welcome New Members

  • Karen Gleason at Mosaic Community Lifestyle Realty
  • John Purdie at Mosaic Community Lifestyle Realty
  • Sam Munday at NAI Piedmont Triad
  • Tony Bates at NAI Piedmont Triad
  • Tom Flanagan at NAI Piedmont Triad
  • Nancy Cox at NAI Piedmont Triad
  • Matt King at CBRE
  • Mark Cartin at McColgan & Company
  • Heide Foley at Sanur Brokerage
  • Brian Shore at Bray Sales Agency, LLC
  • Emmanuel Choice at Urban Equity Advisors, LLC
  • Mark Mahoney at Colliers International
  • Jeremy Owen at Steve Owen and Associates
  • Robert Isner at NAI Piedmont Triad
  • Katina Long at Coldwell Banker Commercial-MECA
  • Ashley Blackburn at Greensboro Regional Realtors Association
  • Jessica Jackson at Locus Real Estate Advisors, Inc.
  • Pete Burgess at Burgess Management Corp.
  • Michael Tuck at Grubb Properties, Inc.
  • Mark Bloomer at ACT Realty Advisors, Inc.
  • Deven Griffin at Colliers International
  • Sherman Walters at National Restaurant Properties
  • Frederick Maerkle at American Investment Brokers
  • Spencer Bennett at The Meridian Realty Group, Inc
  • William Yeager at Mosaic Community Lifestyle Realty
  • Brownie Rogers at The Nichols Company
  • Thomas B. Miller at Miller Development
  • Vince Vickers at KW Commercial
  • Chip Culler at Craven-Johnson-Pollock, Inc.
  • Vince Simonetti at Sperry Van Ness/Commercial Real Estate Advisors
  • Charles Mays at Coldwell Banker Commercial Triad
  • Travis Carter at Koury Corporation

The following firms will also be utilizing the Weblink services provided by a KARNES system to power their website.

  • Simpson Commercial Real Estate
  • W. E. Damon & Associates

Not a subscriber? Contact our sales team today!

KARNES To Speak At TRIAD RCA Education Event

Posted on September 22, 2014 by - Commercial Property Exchange, Events, Greensboro/Winston-Salem/High Point, New Features, Subscribers, Tips & Tricks, Training, Triad CIE, Users

Andrew Jenkins, Managing Partner, KARNESAndrew Jenkins, managing partner of KARNES, will be a speaker at the TRIAD RCA Education Event, taking place Tuesday, September 23rd in Greensboro.

Attendees will hear Mr. Jenkins speak on a range of topics regarding the most recent Version 4.0 improvements to the Triad CIE system including:

  • A complete site redesign that increases usability and performance on modern browsers
  • Brochure enhancements including a new large-image format, improved default layout, and more
  • Improved text editing for comments and broadcast emails, including Spell Check
  • A redeveloped Photo Gallery View for faster image rendering
  • Improved searching for properties by address
  • Full screen map toggle
  • Improved session management
  • An updated version of the Triad CIE iPad App
  • And much, much more

The event is being held from 9am-10:30am at the High Point Realtors Association, 1830 Eastchester Drive, High Point.

For more information and registration details, please refer to the attached flyer: 9-23-14 Education Event

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 Industrial 2013 Year in Review

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

Karnes divides the industrial market is into two categories – warehouse and flex. At the end of 2013, the Tri-City markets contained a total of 105 million square feet of warehouse space and 34.6 million square feet of flex space. With over 52 million square feet of warehouse space, the Triad market accounted for approximately 50% of the Tri-City warehouse market. The Charlotte market ranked second with 34 million square feet, while the Triangle market maintained 18.4 million square feet.

The 178,250 square feet of warehouse space completed in the Triad market during 2013 accounted for all of the new warehouse space completed among the Tri-City regions. For the Triangle market, 2013 marked the fourth year in a row where no new warehouse space was delivered. Two warehouse buildings were delivered in the Triad market during 2013 with the largest being a 134,650-square-foot speculate building at 1023 Corporate Park Drive in Mebane. A total of only 564,738 square feet of new warehouse space was delivered in the Charlotte market between 2009 and 2013, while the Triangle market reported even less at 412,940 square feet. With the additional space delivered during 2013, total warehouse construction in the Triad during the same period totaled 469,750 square feet.
KARNES Tri-City Warehouse Vacancy Trends (more…)

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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Airport Distribution Center sells for $19.2 Million

Posted on April 3, 2014 by - Greensboro/Winston-Salem/High Point, Industrial, Investment, Triad CIE

Airport Distribution Center

CIP Real Estate sold the Airport Distribution Center off of Chimney Rock Road in Greensboro, North Carolina on March 14, 2014 for $19.2 million to PRF III / SPI-ADC LLC. This park is made up of five buildings totaling 764,500 square feet. The first building is located at 202 Chimney Rock Road and totals 220,000 square feet. The second building is located at 204 Chimney Rock Road and totals 28,000 square feet. The third building is located at 206 Chimney Rock Road and totals 200,000 square feet. The remaining two buildings are located at 311 Chimney Rock Road and are 187,500 and 129,000 square feet respectively.

CIP Real Estate purchased the property from Highwoods Properties in 2010 for $12.3 million. Following a renovation, successful leasing efforts have reduced the vacancy levels at the property. Current tenants include Bunzl Distribution, FedEx Office, Lewis Storage, Mediterranean Snack Food Co, and Polo.

The Triad CIE Just Keeps Getting Better

Posted on March 28, 2014 by - Commercial Property Exchange, Greensboro/Winston-Salem/High Point, New Features, Tips & Tricks, Triad CIE

Over the past few months the KARNES team has been working diligently to enhance the Triad Commercial Information Exchange (Triad CIE) 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 Triad CIE 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 Triad CIE. 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 Triad
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 Triad

Improved Polygon and Radii Searches

Polygon and Radii map searches are among the most powerful features of the Triad CIE 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 Search

We Didn’t Stop There!

In addition to these great new features, we also fine-tuned and upgraded many other areas of the Triad CIE. 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 Triad CIE 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 Triad CIE and KARNES!

See You At The 2014 CCIM Triad Market Forecast on March 5th

Posted on February 28, 2014 by - Commercial Property Exchange, Events, Greensboro/Winston-Salem/High Point, Industrial, Land, Office, Retail, Triad CIE, Uncategorized

CCIM Market ForecastJoin Managing Partners Andrew Jenkins and Brian Reece, Wednesday, March 5th, as KARNES and local commercial real estate professionals attend the 2014 CCIM Triad Market Forecast.  KARNES is pleased to be a Statewide Bronze Sponsor of this event, as well as the Raleigh and Charlotte Market Forecasts, which will be held on March 19th and April 9th, respectively.  KARNES will be providing copies of our 3rd annual Tri-City North Carolina Commercial Real Estate Market Report at each of these events.  Be sure to attend in order order to get your copy of this report, which provides provides an overview of the office, industrial, and retail markets in Charlotte, Greensboro/Winston-Salem/High Point, and Raleigh-Durham NC during 2013.

Keynote speakers at the Triad Market Forecast include:

Capital Markets:   Mike Ortlip, Grandbridge Real Estate Capital
Retail Markets:  Steven B. Tanger, Tanger Factory Outlet Centers, Inc.
Moderator:  Robert V. Perkins, CCIM, NAI

The event will be held at The Marriott Downtown Greensboro. Registration and networking will begin at 11:10am, and the program luncheon will begin at 12pm.

KARNES To Speak At WSRAR RCA Breakfast

Posted on February 10, 2014 by - Events, Greensboro/Winston-Salem/High Point, Training, Uncategorized

Andrew JenkinsDon’t miss this opportunity to see Managing Partner, Andrew Jenkins, speak at the WSRAR (Winston-Salem Regional Association of REALTORS®) RCA Breakfast.

This event will provide a unique guided tour by Mr. Jenkins, concerning the latest features and upcoming enhancements within the Triad CIE.

The RCA Breakfast will take place Tuesday, February 11th at 8AM and will be held at the Forsyth Country Club (3101 Country Club Rd, Winston-Salem) .

Magic Mart’s 91,152-square-foot lease tops the Triad retail market in 4th Quarter of 2013

Posted on February 10, 2014 by - Greensboro/Winston-Salem/High Point, Retail, Triad CIE

Lexington Parkway Plaza

Magic Mart moved into 91,152 square feet of the Lexington Parkway Plaza during the 4th Quarter of 2013. This space was previously occupied by a Walmart Supercenter which relocated elsewhere within Lexington, North Carolina. The 91,152 square feet of positive net absorption accounted for 86% of the net demand retail space reported during the 4th Quarter of 2013 in the Davidson County retail submarket. Davidson County’s retail vacancy rate decreased to 8.2% during the 4th Quarter of 2013, which was below the 10.2% averaged in the Triad region at the end of 2013.