Commercial
NAOIP Releases: Economic Impacts of Commercial Real Estate, 2021 U.S. Edition
Development and construction of new commercial real estate in the United States – office, industrial, warehouse and retail – generates significant economic growth at the state and national levels. This annual study, “The Economic Impacts of Commercial Real Estate, 2021 U.S. Edition,” published by the NAIOP Research Foundation, measures the contribution to GDP, salaries and…
Epic Games Announces New Location for Company Headquarters
Epic Games, Inc. (“Epic”), Turnbridge Equities (“Turnbridge”) and Denali Properties (“Denali”) are pleased to announce an agreement to transfer ownership of the 980,000-square-foot and 87-acre Cary Towne Center to Epic, with the goal of converting the property into its new campus by 2024. The facilities will include both office buildings and recreational spaces, allowing Epic…
NAIOP Releases Commercial Real Estate Industry Sentiment Index
The NAIOP CRE Sentiment Index for September 2020 is 45, indicating that respondents expect unfavorable conditions for commercial real estate over the next 12 months. “Although industry professionals know more about how COVID-19 affects demand for commercial real estate than they did in the spring, uncertainty remains about when the economy will fully recover,” said Thomas J….
Distribution / Warehouse
A M King Breaks Ground on ALDI Divisional HQ and Distribution Center in Southern Alabama
Carolinas-based A M King, an integrated Design-Build Firm, has partnered with ALDI U.S. to provide property consulting, design, and construction of ALDI’s new facility in Loxley, AL. The 570,660-square-foot divisional headquarters and distribution center will service more than 100 stores in southern Alabama, Mississippi, Louisiana and the Florida panhandle. The grocery retailer, which opened its…
Marlboro Development Team, Inc. Developing 208,000 Square Foot Class A Speculative Industrial Facility in Dillon, South Carolina
Marlboro Development Team, Inc. (MDT) announced the development of a new 208,000 square foot Class A industrial development in the Carolinas I-95 Megasite in Dillon County, SC. Scheduled for delivery in Q3 2021 and located on a 24-acre site within the park, the facility will be designed to accommodate modern logistics, manufacturing and distribution requirements…
Publix Announces Expansion of North Carolina Distribution Center
Publix announced today it will expand its distribution center in Greensboro, North Carolina, to include a dry grocery warehouse, which will add more than 1.2 million square feet of space. In February 2020, Publix broke ground on the distribution center’s first phase, a refrigerated warehouse, currently under construction. The entire distribution center is expected to…
Government Facilities
Fluor Selected by U.S. Department of Energy for Position on Nationwide Indefinite Delivery/Indefinite Quantity Contract
Fluor Corporation (NYSE: FLR) announced today that the U.S. Department of Energy (DOE) Office of Environmental Management selected the company for a position on the multiple award Indefinite Delivery/Indefinite Quantity (IDIQ) contract to provide nationwide Deactivation, Decommissioning and Removal (DD&R) of facilities, waste management and program support. As one of nine companies selected, Fluor is eligible…
Corvias Renovates 480 on-Base Houses at North Carolina Military Base
Corvias, a partner to the U.S. military for the construction and management of on-base housing, nears completion of renovating 480 homes at Seymour Johnson Air Force Base. Renovations are expected to be completed this summer. “We are in the final stretch of renovations with just 10 homes remaining,” said John G. Picerne, Founder and CEO…
Turning Old in to New In Durham, NC
The new Durham County Administration Building will be the central location for Durham County’s management and administrative functions. Once home to the Durham County Judicial Building (constructed in 1978) the newly renovated structure will house nine county departments, community meeting spaces, a fitness center, TV studio, and two-ground floor retail tenants. The design had to…
Health Care
Ameresco Begins Phase Two of Energy Savings Project at the Medical University of South Carolina
–Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced that it has begun phase two of a comprehensive energy savings project at the Medical University of South Carolina (MUSC), one of the nation’s top academic health science centers and the largest medical school in South Carolina. MUSC financed this project under an energy savings performance contract (ESPC) and…
New Medical Office Building Completed by Mashburn Construction in Irmo, S.C.
Columbia, S.C.— Mashburn Construction is pleased to announce the completion of Irmo Wellness Center, a two-story medical office building in Irmo, S.C. This is the second building that Mashburn has constructed for South Carolina Internal Medicine. The 43,480-square-foot building was constructed using 66 tilt-up concrete panels, allowing for a more aggressive schedule and a most cost-effective…
Robins & Morton Projects Recognized for Excellence in Construction
Associated Builders and Contractors (ABC) announced Robins & Morton as the 2019 National Excellence in Construction Pyramid Award winner for two projects at the 29th Annual Excellence in Construction Gala on March 27 in Long Beach, California. Robins & Morton’s Pyramid Award winners include: AdventHealth Carrollwood: Healthcare, $25 million to $100 million category. Located in…
Hotels / Hospitality
Historic Black Social Club Starts Renovation, Seeks Black Architects to Restore Charlotte Landmark
The new owners of the historic Excelsior Club announced this week they are seeking distinguished Black architects from around the nation to participate in the redevelopment and revival of the club, a longtime epicenter of African-American politics and culture in North Carolina. The Excelsior Club opened in 1944 as a fashionable nightclub that attracted Black professionals and politicians…
Blending Business, Friendship & Family: Creative Builders and Saskatoon Lodge Partnership
Will McCauley and the team at Creative Builders have gone back and forth with Greenville, S.C.’s Saskatoon Lodge Restaurant and Event Center team, trading places as vendors, customers, and coworkers. Creative Builders played a large role in constructing the restaurant’s new venue on Halton Road — and they also did the upfit renovation that turned…
Sustainability in Hotels Explores Growing Emphasis On Green Building Practices in the Hospitality Industry
A new report from the Urban Land Institute (ULI) suggests that sustainable building practices, including those involving energy and water conservation as well as waste reduction, are increasingly being incorporated throughout the hotel sector to add value and provide a competitive edge to properties. Sustainability in Hotels: Opportunities and Trends Shaping the Future of Hospitality assesses the state…
Industrial
BMW Breaks Ground on New Training Center
Officials of BMW Manufacturing, along with South Carolina Secretary of Commerce Bobby Hitt, broke ground for a new $20 million, 67,000 square-foot training center on the BMW campus. The investment is a continuation of BMW’s 2017 commitment to invest $200 million over five years into workforce training. When completed in the summer of 2022, the…
Gilead to Create 275 Jobs in the RTP
Gilead Sciences, Inc., a leading biopharmaceutical company developing innovative medicines, has selected North Carolina’s Research Triangle region as the location for a major business services and information technology hub, creating 275 jobs. The company will invest up to $5 million in Wake County. “With today’s announcement, Gilead confirms that North Carolina sits at the crossroads…
A M King Delivers New Production Facility for U.S. Waffle in Liberty, S.C.
Charlotte-based A M King, an Integrated Design-Build firm, has completed a large-scale renovation project for U.S. Waffle, a leading manufacturer and distributor of specialty frozen waffles and pancakes. Having outgrown its existing facilities in Greenville, S.C. the food company decided to purchase an existing building in nearby Liberty, S.C. and repurpose it as a bakery….
Mission Critical / Data Centers
Comporium Awarded a $2.8 Million “GREAT” Grant
Comporium will bring faster broadband speeds to areas of Transylvania county with a $2.8 million grant from North Carolina’s Growing Rural Economies with Access to Technology (GREAT) Program. Altogether, the improvements will require over $7 million. The project includes the construction of 105 miles of fiber optic cable that will provide service to over 800…
New Technology Neighborhood to be Part of CU-ICAR
Home to 21 global businesses, the Clemson University International Center for Automotive Research (CU-ICAR) is expanding its footprint on the 250-acre campus with a new technology neighborhood, Technology Neighborhood III. The first building in the neighborhood will be a multi-tenant 40,000-square-foot high-bay facility supported by $2 million in funding from the U.S. Economic Development Administration…
DC BLOX to Build $200 Million Data Center in Greenville, SC
DC BLOX, a multi-tenant data center provider in the Southeast, today announced plans to establish operations in Greenville County. The new data center will initially bring five new positions to the community – along with an expected, combined investment of over $200 million by DC BLOX and its tenant customers over the next few years….
Multi-Family Residential
Graycliff Capital Acquires ViA, Adds to its Salt Lake City Residential Holdings
Graycliff Capital Partners, LLC (Graycliff Capital), a leading developer/owner in the multi-family sector headquartered in downtown Greenville, S.C., has acquired ViA, a Class A, mixed-use residential community in South Salt Lake City, Utah. The property is ideally located within a short walking distance to Utah Transit Authority (UTA) light rail stations – providing direct access…
PulteGroup Expanding into New Markets in Colorado and North Carolina
PulteGroup, Inc. (NYSE: PHM), the nation’s third largest homebuilder, announced its plans to enter the Denver market and expand into the Triad area of North Carolina. “This strategic expansion provides another avenue of growth and allows us to extend our high-returning operating model into important new housing markets,” said Ryan Marshall, PulteGroup president and CEO….
Graycliff Capital Acquires Milagro, Class A Residential Community in Salt Lake City
Graycliff Capital Partners, LLC (Graycliff Capital), a leading developer/owner in the multi-family sector headquartered in downtown Greenville, S.C., has acquired Milagro, a Class A, mixed-use, mid-rise residential community in downtown Salt Lake City, Utah. Milagro represents Graycliff’s first multi-family investment in Utah and the western region of the United States. With a backdrop of the…
Office Buildings
Preparing for Office Re-Entry: A Case Study
Since the beginning of our work-from-home experience, the workplace design team at Progressive AE has been focused on building a plan for our eventual office re-entry. Mitigating risk and keeping staff safe have been foundational to our efforts. To help guide our work, we made the decision early on to follow federal and state-issued guidelines,…
NAIOP Releases Commercial Real Estate Industry Sentiment Index
The NAIOP CRE Sentiment Index, based on a survey of real estate practitioners, has dropped below 50 for the first time since its inception; however, because the survey was conducted March 11-25, 2020 as the nation was rapidly reacting to the COVID-19 pandemic, the long-term outlook is better understood as a snapshot of industry sentiment…
A Commercial Real Estate Conundrum: How to Tier Markets?
The commercial real estate industry has long ranked cities and regions into tiers for the purpose of market analysis, based on their investment potential or growth characteristics. However, the lack of a uniform approach and differences in variables – including the rise of certain industries in specific markets, changing rates of growth, and strengths in…
Power / Energy
Duke Energy Unveils Sweeping Clean Energy and Emissions Reduction Plan at Inaugural ESG Day
Duke Energy today announced an extensive expansion of its clean energy and emissions reduction plans to significantly increase the company’s carbon and methane reductions, coal plant retirements and renewable energy generation goals. The sweeping plans were announced at the company’s inaugural environmental, social and governance (ESG) day. The virtual investor event featured Duke Energy’s senior…
U.S. Marine Corps Selects Duke Energy & Ameresco to Implement $41 Million Infrastructure Project at North Carolina Air Station
Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced that Naval Facilities Command Mid-Atlantic (NAVFAC MIDLANT) has awarded to Duke Energy and Ameresco’s Federal Solutions group a $41 million utility energy savings contract (UESC) at the United States Marine Corps Air Station (MCAS) Cherry Point. Under a $38 million contract with Duke, Ameresco…
Duke Energy Renewables closes $109.4 million in a preferred tax equity funding from Goldman Sachs
Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), today announced the closing of $109.4 million in a preferred tax equity funding from Goldman Sachs’ Alternative Energy Investing Group. The investment will be used over 18 months to fund a diverse portfolio of approximately 75 megawatts of solar and solar plus storage projects, which will be developed and constructed by…
Retail / Shopping Centers
Woolpert Contracted to Plan, Design Northwest Concord (N.C.) Community Park
Woolpert has been contracted by the city of Concord, N.C., to provide park master planning, conceptual design, and engineering and architecture services for its new 28.6-acre Northwest Concord Community Park. The park site is at 1252 Cox Mill Road in Concord, adjacent to Cox Mill Elementary School and across the street from Cox Mill High School. Woolpert…
DICK’S Sporting Goods Announces the Grand Opening of Two New Concept Stores
DICK’S Sporting Goods (NYSE: DKS), the largest U.S.-based, full-line omni-channel sporting goods retailer, will be expanding its nationwide footprint with the opening of two new concept stores – OVERTIME by DICK’S Sporting Goods and DICK’S Sporting Goods Warehouse. Following the opening of three clearance centers last year in in Utica, MI, Spartanburg, SC and Racine WI, DICK’S is expanding its footprint of outlet…
CBL Properties Announces Redevelopment at Coastal Grand in Myrtle Beach, SC
CBL Properties (NYSE:CBL) today announced redevelopment plans at Coastal Grand in Myrtle Beach, South Carolina. As part of the project, DICK’S Sporting Goods will relocate to a new building near Dillard’s, which will include the addition of Golf Galaxy. Flip N Fly will then open a 53,000-square-foot family entertainment venue in the former DICK’S Sporting…
Roads, Bridges and Highways
Phase One of Fluor-Led Port Access Road Opens to Traffic in Charleston, SC
Fluor Corporation (NYSE: FLR) announced today that its joint venture team, Fluor-Lane South Carolina, comprised of Fluor and The Lane Construction Corporation, has opened phase one of the Port Access Road for the South Carolina Department of Transportation (SCDOT) in Charleston, South Carolina. Fluor JV completes first phase of Charleston, S.C. port access road. (Photo: Business…
Construction Partners, Inc. Completes North Carolina Acquisition
Construction Partners, Inc. (NASDAQ: ROAD) (the “Company”), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today announced that it has acquired Riley Paving, Inc., an asphalt and paving contractor based in Carthage, North Carolina. Among other things, the acquisition adds four hot-mix asphalt plants in central North Carolina,…
Tindall Corporation’s Utility Division Provides Precast Bridge for Chestnut Mountain Ranch
“Tindall is a company who has a heart for serving others,” said Steve Finn, Founder and Executive Director of Chestnut Mountain Ranch. “Their team’s leadership is always looking for opportunities to make things better than the way they found them, and we are beyond grateful for their partnership and contributions that support the mission of…
Schools (K-12 and Higher Education)
The Citadel to Host Minority Contractor Info Session on Feb. 16 for Capers Hall Replacement
The Citadel has scheduled a Minority Contractor Information Session for February 16, 2021, for its Capers Hall Replacement Project. The Citadel will begin demolishing Capers Hall in the summer of 2021. The Capers Hall Replacement Project will cost $68 million. Of that amount, $50 million will go toward construction. It will be the largest construction…
Campus Leaders in Libraries, Student Affairs and Facilities Address Fall Planning
brightspot strategy, which works with colleges to transform their student experience by better connecting their people, places and programs, released collective findings and best practices from 38 public and private, top ranked institutions, that focuses on the specific needs and interests of campus school architects and facility designers, library leaders, and student affairs leaders. “This fall universities…
Clemson University Dedicates Andy Quattlebaum Outdoor Education Center: Use of Cross-Laminated Timber Draws National Attention
As one of two facilities in the country to use southern yellow pine cross-laminated timber, the 16,500-square-foot Andy Quattlebaum Outdoor Education Center at the Snow Family Outdoor Fitness and Wellness Complex will serve as a national model for recreation and leisure space, bringing attention to not only Clemson University but also the state of South…
Transportation / Ports
AGC Names VP of Congressional Relations for Infrastructure Advancement
Associated General Contractors of America hires Infrastructure-focused former House and Senate Staffer, Murphie Barrett, as its New Vice President of Congressional Relations for Infrastructure Advancement Murphie Barrett, a former congressional staffer who played key roles in crafting several recent infrastructure laws, has joined the Associated General Contractors of America as its new vice president of…
Granite Awarded $15 Million Airfield Improvement Project in North Carolina
Granite (NYSE:GVA) announced today that GWWH, the joint venture team comprised of Granite, Webcor Construction LP, Weeks Marine, Inc., and Healy Tibbitts Builders, Inc. has been awarded a $15 million design build contract by the United States Coast Guard (USCG) for the Recapitalize Airfield Pavements and Airfield Lighting Project in Elizabeth City, North Carolina. Granite’s…
U.S. Transportation Secretary Elaine L. Chao Announces $1.4 Million in Infrastructure Grants to One Airport in North Carolina
U.S. Department of Transportation Secretary Elaine L. Chao today announced that theFederal Aviation Administration(FAA) will award $477 million in airport infrastructure grants, the third allotment of the total $3.18 billion inAirport Improvement Program(AIP) funding for airports across the United States. This significant investment in airport improvements in North Carolina will fund construction and rehabilitation projects…
More Markets
NAIOP Forecast: Strong Growth in Demand for Industrial Space
A new industrial space demand forecast, published by the NAIOP Research Foundation, projects total net absorption in 2021 to be 314.9 million square feet, with a quarterly average of 78.7 million square feet. In 2022, net absorption is projected to be 231.6 million square feet, with a quarterly average of 57.9 million square feet. According to…
Phase One of Fluor-Led Port Access Road Opens to Traffic in Charleston, SC
Fluor Corporation (NYSE: FLR) announced today that its joint venture team, Fluor-Lane South Carolina, comprised of Fluor and The Lane Construction Corporation, has opened phase one of the Port Access Road for the South Carolina Department of Transportation (SCDOT) in Charleston, South Carolina. Fluor JV completes first phase of Charleston, S.C. port access road. (Photo: Business…
BMW Breaks Ground on New Training Center
Officials of BMW Manufacturing, along with South Carolina Secretary of Commerce Bobby Hitt, broke ground for a new $20 million, 67,000 square-foot training center on the BMW campus. The investment is a continuation of BMW’s 2017 commitment to invest $200 million over five years into workforce training. When completed in the summer of 2022, the…
NAIOP January Coronavirus Impacts Survey: Light at the End of the Tunnel
Respondents to a NAIOP tracking survey of the pandemic’s impact on commercial real estate indicate improving rent collection rates, increased industrial investment activity, and a more positive outlook for employment in their firms. Fewer respondents now expect the pandemic will continue to significantly affect their business operations 12 months from now. “We are encouraged that there is…
