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….
Southern First Bank to Build New Corporate Headquarters in Greenville, SC
Southern First Bank (NASDAQ: SFST), the largest bank headquartered in South Carolina, has announced plans to build a new corporate headquarters in Greenville, SC. The new headquarters, situated at the intersection of Laurens Rd and Verdae Blvd, will serve as a symbol and celebration of Southern First’s focus on the future of banking. The landmark project…
NAIOP Industrial Space Demand Forecast: While Long Term Growth Is Expected, Recession Will Have a Significant Impact on Industrial Real Estate Absorption Rates Into 2021
Although industrial real estate has outperformed other commercial property types this year due in part to a surge in e-commerce, broader macroeconomic indicators suggest industrial space absorption will decline sharply in Q3 2020 and then rebound to positive levels in Q2 2021, according to the NAIOP Industrial Space Demand Forecast, released today. Industrial net absorption is…
Negotiating with Tenants and Leasing Space During COVID-19
New report details best practices for office and industrial real estate During the COVID-19 pandemic, widespread mandatory closures and reduced consumer spending have hampered business operations and created challenges for some office and industrial tenants. Many of these businesses have asked building owners for assistance in the form of rent abatements or deferrals. The NAIOP…
Centene To Establish New East Coast Headquarters In Charlotte
Centene Corporation (NYSE: CNC) today announced that it will establish an East Coast headquarters in Charlotte, North Carolina, after completing a comprehensive evaluation process. The company will begin construction on the new campus in August and plans to create 6,000 new jobs and invest $1 billion in the Charlotte community over time. “Charlotte has great talent, excellent infrastructure and a real…
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…
Merritt Properties Expands North Carolina Footprint, Acquires 74 Acres in Wake Forest for Industrial Park
Merritt Properties, a full-service commercial real estate developer with over 16 million square feet of space throughout Maryland, North Carolina and Virginia, has announced the acquisition of a 74-acre tract of land for the speculative development of a 452,500-square-foot light industrial business park in Wake Forest, North Carolina. Located along Ligon Mill Road, Merritt Capital Business…
2020 Commercial Real Estate Sentiment Survey Forecasts Moderate Growth
Transwestern Commercial Services and Devencore released the results of their 2020 Commercial Real Estate Sentiment Survey, summarizing the firms’ outlook for U.S. and Canadian real estate markets. Brokers and analysts across 43 North American offices shared insight on the office/medical office and industrial sectors. “While political turmoil, upcoming elections and an elevated construction pipeline in…
