Special thanks to the Developing Leaders who participated in a community service project in October. Partnering with The Y to support NourishUp, volunteers helped distribute food to local communities in need. They packed large quantities of donated food into individual boxes and handed them out to cars in a drive-through line. It was a fantastic experience!

Originally published on November 11, 2024, by Doug West for NAIOP.

Driven by changes in the business environment and the demands of modern corporate tenants, prebuilt office spaces have transformed from underused “leftover” spaces into an integral part of commercial leasing strategies. These modern, ready-to-move-in spaces are designed to meet the evolving expectations of both building owners and corporate tenants, offering flexibility, aesthetic appeal and functional elements that reflect current office trends.

Benefits of Creating Prebuilt Office Spaces:

1. Move-in Ready Convenience: Prebuilt offices allow tenants to bypass lengthy design and construction processes, providing immediate access to functional, ready-to-use spaces.
2. Flexibility for Tenants: These spaces can serve as short-term “swing spaces” for existing tenants during renovations or expansions elsewhere in the building, or as flexible offices for new tenants with short-term needs.
3. Market Appeal: By offering design enhancements (e.g., color schemes, additional materials and finishes), prebuilt spaces can be customized to meet the needs of a wide range of tenants with varied preferences.
4. Cost and Time Efficiency: Prebuilt offices eliminate much of the upfront design work for incoming tenants, helping to control project costs and speed up occupancy, benefitting both landlords and business owners.
5. Consistent Leasing Strategy: Once established, a prebuilt office program can be easily replicated or modified, offering building owners a consistent leasing product that adapts to market demands.
6. Scale: Creating a range of suite sizes, from as many as five or as few as one tenant space per floor, provides the leasing team with more options to offer potential tenants. Multiple layouts can be combined if needed, as long as the layout was created for flexibility.

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Originally published on November 6,2024 by Eric Schmutz for NAIOP.

Donald Trump’s victory in Tuesday’s presidential election makes him the first candidate in over a century to reclaim the White House after losing a re-election bid, and we expect his second term to have a significant impact on federal tax policy. 

Thank you so much for joining us at the Charlotte Country Club for our ultimate pickleball showdown! Whether you were on the court or cheering from the sidelines, your energy and enthusiasm made the event truly special. We loved seeing players of all skill levels unite for friendly competition and community fun. Pickleball continues to grow, and we're thrilled to share this exciting sport with you. We can't wait to see you at the next event!

Originally published on November 5, 2024 by Shawn Moura, Ph.D. for NAIOP.

NAIOP Research Foundation Governors, Visionaries and Distinguished Fellows met in Las Vegas in October to discuss development challenges associated with water and power scarcity and possible research topics for future exploration. A panel, moderated by Marianna Hunnicutt, practice builder at Kimley-Horn, discussed how the development community in Las Vegas is working with utilities and municipal leaders to meet sustainability objectives and ensure access to water and power for future projects.

Originally published on October 30, 2024 by Joel Brenner for NAIOP.

It took more than 3,500 workers to build the Empire State Building in the early 1930s. Nearly 100 years later, commercial construction projects still require the work of hundreds to thousands of people to complete. Depending on their size, these projects can take anywhere from six months to 10 years to deliver. Managing that volume of workers across an extended period of time is a considerable undertaking. Success doesn’t just hinge on technical expertise; each and every member of the project team must be engaged, working together toward one common goal that unites them.

Originally published on October 11, 2024 by Ginger Meurer for NAIOP.

The supply imbalance in the office market has been stark the last few years, but panelists at NAIOP’s CRE.Converge conference this week identified bright spots and emphasized the possibilities for creative investors.

Special thanks to the Developing Leaders who participated in a community service project earlier this month. Partnering with The Y to support Loaves & Fishes, volunteers helped distribute food to local communities in need. They packed large quantities of donated food into individual boxes and handed them out to cars in a drive-through line. It was a fantastic experience!

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Following the impacts of Hurricane Helene on the Southeastern United States, the Internal Revenue Service (IRS) has provided targeted tax relief for certain affected individuals and businesses in the region. The relief automatically extends various tax deadlines to May 1, 2025, for taxpayers who live or operate a business in impacted areas. 

• Learn more from Elliott Davis HERE
• Read the IRS announcement HERE.

Originally published on October 1, 2024, by the IRS.

The Internal Revenue Service announced today tax relief for individuals and businesses in the entire state of North Carolina that were affected by Hurricane Helene that began on Sept. 25, 2024. These taxpayers now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.

Originally published on September 26, 2024, by Morris Davis, Ph.D. for NAIOP.

Citing progress on inflation and the balance of risks, last week the Federal Reserve announced rate cuts of 0.5%, to 4.75% to 5%. Can we expect additional cuts from the Federal Reserve and when, and how would these cuts impact commercial real estate markets?

Originally published on October 24, 2024 by Ginger Meurer for NAIOP.

As developers reduce every possible expense in a tight market, what are overlooked ways to improve their competitive position? Tax attorney Ben Blair, a partner at Faegre Drinker Biddle & Reath LLP, said that while you may not be able to move the building to a better location or put an intensive capital investment into improvements, you can work to lower your tax bill.

What’s happening here? Make sure you read to the end:

In an earlier edition of Two For Tuesday, we reported that the Charlotte Regional Transportation Planning Organization (CRTPO) Board had requested that the North Carolina Department of Transportation (NCDOT) prepare a comparative analysis to compare a traditional toll alongside and a Public Private Partnership (P3) delivery for additional lanes for the eleven-mile segment of I-77 running through the City of Charlotte and south to the border of South Carolina. Those results were presented by representatives of NCDOT at the August 21, 2024, Board Meeting (Agenda, Minutes - item 14, pages 5-8).   

This fall, several communities within the region have referred bond measures to the voters for their consideration. Today we are highlighting two of those efforts.

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Originally published on October 1, 2024, by the IRS.

The Internal Revenue Service announced today tax relief for individuals and businesses in the entire state of North Carolina that were affected by Hurricane Helene which began on Sept. 25, 2024. These taxpayers now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.

Meet Angela Charles, Director of Charlotte Water

As the director, Angela is responsible for the county-wide water treatment and distribution, wastewater treatment and collection, utility planning, and most recently the city's stormwater system along with management activities. She leads a staff of approximately $2.46 billion. Charlotte Water maintains more than 11,000 miles of water, sewer, and stormwater pipelines, with nearly 300,000 active water connections county-wide. 

She will be updating attendees on Charlotte Water's current operations as well as sewer capacity and other relevant matters.

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Originally published on October 16, 2024 by Toby Burke for NAIOP.

U.S. citizens will go to the polls on Nov. 5 to cast their votes in the 2024 election at each level of government. The outcome of this election may have an impact on the policies affecting commercial real estate, the economy, communities and families. At the state level, 44 states will hold elections for representatives within their state legislature. The significance of the outcomes of these state elections cannot be overlooked in setting policy for the commercial real estate industry.