Originally published on January 23, 2024, by Ioana Ginsac for NAIOP.
As the office sector transforms in response to evolving work trends and the flight-to-quality movement, businesses continue to seek the best office spaces that can suit both their needs and their budgets. For most, the perfect choice may lie in a compromise between location clout and asset quality.
Originally published on January 17, 2024, by Eric Schmutz for NAIOP.
Iowa Republicans held their 2024 presidential caucus on Jan. 15, and as expected, former President Donald Trump won with 51% of the votes cast. Florida Governor Ron DeSantis placed second with 21.2% and former South Carolina Governor Nikki Haley placed third with 19.1%. Businessman Vivek Ramaswamy, after receiving 7.7% of the votes, suspended his campaign and promptly endorsed Trump. Former Arkansas Governor Asa Hutchinson received less than 200 votes and also suspended his campaign, but has yet to endorse another candidate.
Originally published on January 16, 2024, by Rebecca Randolph for NAIOP.
As the business landscape continues to evolve, it’s key for relationship builders in all industries to reconsider the ways they connect and engage with both new and existing clients. In our fast-paced, digital world, new technologies have transformed how companies do business, including how they attract new prospects, foster relationships, create trust and maintain relevance. While these new technologies are rooted in the basic principles of relationship building, business development professionals should take a close look at these new methods to consider how they can help reinforce their current approach to support their company’s growth and longevity.
Originally published on January 9, 2024, by Todd Burns and Andrew Volz for NAIOP.
The potential for artificial intelligence (AI) to transform businesses, industries and society has been mounting for decades, but recent advancements have moved the science from niche to mainstream. The technology’s proficiency in writing, drawing, coding and composing has driven corporate leaders to consider both the opportunities and threats that AI presents for their future.
Originally published on January 3, 2024, by Toby Burke for NAIOP.
The political battle over the presidency and the control of both chambers on Capitol Hill is expected to garner most of the attention of the national media this year. While the outcome of these campaigns will have significant implications on policy debates at the national level, they should not overshadow or minimize the important political races for control of state legislatures and gubernatorial offices across the country. The outcome of these more grassroots races in comparison to control of state capitols may be more reflective of the policies of importance to the American people.
Originally published on December 20, 2023, by Aquiles Suarez for NAIOP.
As 2023 comes to a close and we look ahead to the challenges facing commercial real estate in 2024, it is clear that persistent advocacy on the public policy front will be more important than ever to ensure that the interests of NAIOP members are protected. This is true of course at the state and local level, but it is at the federal level, where government gridlock has been most on display, that maintaining our strong advocacy will be critical.
The list is complete! Candidates who filed are competing for important seats on the County Commissions, the State Legislature, and the U.S. Congress. Click the links below to familiarize yourself with the candidates:
This is big news when it comes to the impact on growth and real estate development strategies. According to a recent article, featured in Axios Charlotte, North Carolina is receiving a 1.09 billion dollar federal grant, the largest ever received by the North Carolina Department of Transportation (NCDOT), toward the S-Line, a passenger rail line from Raleigh to Virginia. Additional dollars will be allocated to plan and develop rail corridors between other cities, including "high-speed" rail linking Charlotte and Atlanta. Other corridors to be studied and planned are those between the following cities:
For additional details, read the full article here:
Originally published on December 15, 2023, by Marie Ruff for NAIOP.
The tale of the office market in 2023: it was neither the best of times nor the worst of times. This year has continued to be one of recalibration and reevaluation for office space usage across the U.S. While some companies have called employees back to the office full-time, others have embraced the transition to being fully remote and others are somewhere in between. But what does the data show about office usage now and what’s ahead? In a recent NAIOP webinar, the authors of the recent office space demand forecast published by the NAIOP Research Foundation explained their research findings.
NAIOP Charlotte, the Commercial Real Estate Development Association, held its 2023 Annual Meeting: What the Future Holds on Tuesday, December 5, 2023, at The Terrace at Cedar Hill, where we elected the 2024 Board of Directors.
We awarded the 2023 Award of Excellence to Dale Stewart, PE, partner at LandDesign. Dale gives time and energy to NAIOP Charlotte and humbly serves others in the community without concern for recognition or compensation. He champions the commercial real estate industry on a national, state, and/or local level and passionately seeks to be a change agent, even in the face of diversity.
Your future leaders are coming into view! Candidate filing for elected office opened at noon on Monday, December 4th and remains so until noon on Friday, December 15th. Candidates who decide to run will be competing in 2024 contests for positions from County Commissioner, to State Legislator, U.S. Congress, and all the way up to U.S. President. Click the links below to see who has filed so far and begin to familiarize yourself with the candidates:
Mecklenburg County Board of Elections - Candidate List
Iredell County Board of Elections - Candidate List
Cabarrus Board of Elections - Candidate List
Gaston County Board of Elections - Candidate List
Union County Board of Elections - Candidate List
Originally published on December 5, 2023 Doug Faron for NAIOP.
In today’s environment, there are countless barriers to new commercial real estate development opportunities, including rapidly rising borrowing rates, increased constraints on banks, growing insurance costs and geopolitical risks, to name a few. On top of that, a major constraint to development today is the rising cost of construction. The upward trajectory of construction spending itself can be attributed to many factors including inflation, labor costs, rising insurance rates, materials and even permitting costs. As the cost to build becomes more expensive, developers are grappling with how to deliver high-quality buildings on time and within budget.
Originally published on December 6, 2023 Eric Schmutz for NAIOP.
For the first December in recent years, Congress is no longer facing a government shutdown deadline. Prior to the Thanksgiving recess, Congress approved a two-tiered appropriations package. This “laddered” approach primarily funds domestic programs (such as housing, agriculture, transportation and infrastructure) until Jan. 19, 2024, and the remaining programs, including defense and homeland security, until Feb. 2, 2024. Year-end 2023 is not without its share of must-pass legislation, however.
The NAIOP Research Foundation has published the NAIOP Office Space Demand Forecast for Q4 2023.
Key Takeaways:
Originally published on November 20, 2023 by J. Byron Brazier for NAIOP.
When you travel to a different country, you expect to encounter a different landscape, culture and customs. But in many parts of the U.S., communities mere blocks or miles apart feel like wholly distinct worlds. Take Chicago: Its beautiful architecture and stunning lakeshore belie the staggering economic disparities among neighborhoods and real estate developments.
Charlotte Douglas International Airport is braced for the impact of more than 900,000 travelers over Thanksgiving. To put that into context, it's nearly the population of the entire City of Charlotte. Here are a few more interesting facts:
Originally published on November 20, 2023, by Rob Nanfelt for REBIC.
Originally published on November 27, 2023, by WDG for NAIOP.
Adaptive reuse architecture presents a creative and specialized challenge. The prevailing trend is to convert vacant office buildings into multifamily residential or hospitality properties. These designs are a purposeful, more sustainable solution that provides vibrancy to obsolete, underutilized and often vacant buildings. Converting unused offices to another occupancy can address housing supply shortages and help bring back commercial business districts. The improved functional spaces increase the tax base for taxpayer and municipality benefits. The properties utilize the existing public infrastructure, roadways, transportation network options and utility connections for the rapid reconnection of an existing community. Understanding basic concepts of conversions is critically important for development professionals, city officials and local communities. Each potential property needs to be evaluated on its own merits to determine the probability of success, and whether the location, costs, timing and existing building layout make sense for a conversion.
Originally published on November 13, 2023, by Rick Scardino for NAIOP.
As a retail real estate specialist for more than three decades, I’ve seen many trends come and go. One day, it’s an explosion in the sale of bank pads. And now, I’m seeing that niche real estate investors – who historically operate with a bit of herd mentality – have crowned the car wash industry the latest investment darling. The evolution of the car wash industry and the resulting uptick in interest from investors, developers and operators alike has been fascinating to watch. Brands like Take Five, Waterway, Zips, Spotless and Mister Car Wash are just a few of the modern success stories bringing car wash investment into the headlines. So, what’s with the hype?
Originally published on November 9, 2023, by Francis Chantree for NAIOP.
More and more Americans are moving to a different state, often to one inland and less densely populated but with great real estate options. The highest net migration is seen in Idaho, Montana and Vermont, plus Maine and other states offering plenty of space and housing, a trend that fuels the local real estate sectors.
