In January 2020, representatives from the Charlotte Regional Transportation Planning Organization (CRTPO) publicly launched Beyond 77, a project focused on improving travel along the I-77 Corridor from Statesville, N.C. to Rock Hill, S.C. To date, over 19,000 surveys have been completed in an effort to prioritize transportation alternatives for the area. In early April, the third and final public engagement phase kicked off, where participants are asked to weigh in on potential solutions. Residents who live, work or travel through this region are encouraged to participate in the study by visiting Beyond77.com and taking a brief survey.

For those who want to hear directly from the planning team, representatives from the Beyond 77 study will be hosting two Virtual Public Meetings on April 21 and May 13 from noon to 1 p.m.

To learn more about the public meetings and to register, visit Beyond77.com/Register.

Originally published on April 6, 2021, for NAIOP Source E-Newsletter.

President Joe Biden has unveiled his American Jobs Plan, a $2.3 trillion plan to fund infrastructure projects such as roads, bridges and railways, but also what the administration terms “human infrastructure” investments in childcare, as well as measures to transform the energy sector toward a carbon-free future. In order to fund the plan, the Biden administration proposes to raise the corporate tax rate from the current 21% to 28% and would seek a global minimum tax for multinational corporations.

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Originally published by Andrew McCoy, Ph.D., and Amin Yeganeh, Ph.D. in March 2021 for NAIOP's Research Foundation.

The construction industry has historically been slow to develop or adopt new technologies, resulting in productivity growth that has lagged other sectors. However, protracted labor shortages have increased demand for labor and time-saving technologies, and recent advances have given rise to a new generation of more efficient, flexible and adaptive construction technologies. Successfully adopting these new technologies will require that firms evaluate their costs, benefits and risks and update construction practices as needed.

The NAIOP Research Foundation commissioned this report to explore emerging construction technologies and their implications for the construction and real estate development industries. The authors draw from interviews with researchers and industry practitioners to evaluate the current benefits and limitations of new technologies. This report:

• Profiles technologies that are rapidly being deployed in construction projects and those that are likely to be adopted by the industry in the coming years.
• Examines how technologies have the potential to transform construction practices and disrupt traditional business models.
• Outlines best practices for firms to prepare for and adapt to new technologies.

Download Report

Originally published by Andrew McCoy, Ph.D., and Amin Yeganeh, Ph.D. in March 2021 for NAIOP's Research Foundation.

The construction industry has historically been slow to develop or adopt new technologies, resulting in productivity growth that has lagged other sectors. However, protracted labor shortages have increased demand for labor and time-saving technologies, and recent advances have given rise to a new generation of more efficient, flexible and adaptive construction technologies. Successfully adopting these new technologies will require that firms evaluate their costs, benefits and risks and update construction practices as needed.

The NAIOP Research Foundation commissioned this report to explore emerging construction technologies and their implications for the construction and real estate development industries. The authors draw from interviews with researchers and industry practitioners to evaluate the current benefits and limitations of new technologies. This report:

• Profiles technologies that are rapidly being deployed in construction projects and those that are likely to be adopted by the industry in the coming years.
• Examines how technologies have the potential to transform construction practices and disrupt traditional business models.
• Outlines best practices for firms to prepare for and adapt to new technologies.

Download Report

Originally published  by Trey Barrineau for NAIOP Spring 2021 Issue

The rollout of immunizations to defeat COVID-19 has enormous implications for the commercial real estate industry.

In late 2020, the U.S. and other countries began distributing vaccines to control the COVID-19 pandemic. It is the single most important development in the year-long fight against the disease, which has killed and sickened millions around the world and crippled the global economy.

The stakes are high. The vaccines will not only save lives and boost the morale of hundreds of millions who have been forced to live constrained lives due to lockdowns and other public health measures; experts say they are also the most important factor in the overall economic recovery from the pandemic. The commercial real estate industry has been hit hard by the pandemic, particularly the retail, office, and lodging sectors.

“If we get 70% to 85% of the country vaccinated by the end of the summer, I believe by the time we get to the fall, we will be approaching a degree of normality,” Dr. Anthony Fauci, the chief medical advisor to President Biden, said in late January. “It’s not going to be perfectly normal, but one that I think will take a lot of pressure off the American public.”

As the U.S. enters year two of the COVID-19 pandemic, strip centers and malls, which have had most of the exposure to retail tenants that have struggled from a sales perspective, stand at the greatest chance of experiencing property-level distress in the months to come, according to Kevin Cody, the senior consultant at real estate data firm CoStar Advisory Services.

CoStar expects the average vacancy rate for malls across the country to climb by around 3.1 percentage points between the fourth quarter of 2019 and the fourth quarter of 2021, Cody notes. At the same time, the vacancy rate for neighborhood shopping centers and freestanding retail will likely climb by only 1.3 percentage points and 0.4 percentage points, respectively.

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Originally published on March 30, 2021, for NAIOP Source E-Newsletter

President Joe Biden is expected to unveil his plans for an infrastructure and economic growth proposal amounting to nearly $4 trillion while on a visit to Pittsburgh this Wednesday. The package is expected to be divided into two parts, with the first part focused on infrastructure investments for transportation and initiatives related to Biden’s efforts to address climate change. The second package will be geared toward domestic initiatives such as national childcare programs, free community college, and universal pre-kindergarten.

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Date: April 7, 2021
Day/Time: 2-3 p.m. ET
Location: Virtual

Exclusive NAIOP Developing Leaders Program for Members in our Southwest Chapters

What are the big legislative issues facing businesses in your market? NAIOP Developing Leaders from our Southwest chapters are invited to an exclusive program to hear from industry and legislative leaders on these pressing issues:

• Increasing revenue sources through higher commercial real estate taxes. California defeated this issue in 2020, but as states face declining revenues, CRE could be targeted.
• Barriers to economic growth and CRE development. Our industry contributed $1 trillion in 2020, and the impact on state economies is invaluable. 
• Environment and sustainability. Hear strategies for working with local policymakers on green roof requirements, energy benchmarking mandates, net-zero buildings, and more.
• Business and community topics. From affordable housing to impact fees to supporting businesses as we emerge from the pandemic, how can NAIOP engage with the government to support the industry and the communities in which we operate?

Engage in a discussion with both CRE practitioners and lobbyists who work with chapters in your market, then break into smaller groups for deeper discussions and networking.

Originally published on March 26, 2021, by Cary Chandler and Ellen Lieder for NAIOP

Although the long-term impacts of the pandemic on the office environment are yet to be determined, many knowledge workers could eventually go back to the office. When workers return to urban office towers, they may anticipate an exceptional experience that delivers more than their home office could offer: a workplace destination that has community attractions they’ve craved over several months of remote work.

While in the short term, building owners are addressing immediate safety issues and protocols, the longer-term reality is looming. As a private, dedicated workspace has become a luxury rather than a given, the need to deliver more than places to perform tasks has become an imperative. The workplace must now deliver a first impression that will serve as an impetus for community building and shared purpose, productive individual spaces, and “third places” (neither home nor office) that support innovation and collaboration.

All of that might seem like a tall order, even for high-rise office buildings. Here are a few ways office building owners in downtown Chicago are reinventing their properties as urban workplace destinations.

The disruption caused by COVID-19 has accelerated the blending of brick-and-mortar retail and logistics real estate. This has resulted in the emergence of a new hybrid store model – one that takes omnichannel strategies to the next level and promises to revolutionize the retail, industrial and logistics industries. In this webinar, speakers from CBRE will share their vision for a hybrid store that allows consumers to engage and purchase seamlessly in store and online across a wide range of retail categories and product lines. This new model will preserve the store experience for physical shopping while leveraging logistics capabilities for the fulfillment of online sales.

Speakers:
John Morris, Head of Industrial and Retail, CBRE
Andres Rodriquez, Senior Research Analyst, CBRE

This webinar is part of a six-part series on industrial-focused topics hosted by NAIOP throughout 2021.

Register Here

Originally published by Mark Milligan for NAIOP's Winter 2020/2021 Issue

Data gathered by smart sensors can provide actionable information to guide social distancing, sanitizing and more.

As the end of 2020 approaches, the commercial real estate industry continues to face uncertainty from the COVID-19 pandemic. Many companies have shifted to a work-from-home model where possible, with no clear timeline for bringing employees back to the office. The unpredictability created by COVID-19 is driving office tenants to stay as flexible as possible and increase their options — forgo renewing leases, subleasing their spaces, and delaying commitments wherever possible. That makes it challenging for commercial real estate professionals to secure buyers and tenants.

In addition to the current challenges, there is much discussion in the industry about commercial real estate’s future. For example, businesses are adjusting to a virtual workforce and might not need as much office space in the years ahead — and the space they do need will likely have different requirements than in the recent past.

This was pointed out in a recent interview on CNBC with BlackRock CEO Larry Fink, who said he does not envision the firm’s entire workforce ever being in the office at the same time.

Register Here

Date: April 7, 2021
Day/Time: 2-3 p.m. ET
Location: Virtual
Format: Webinar

Exclusive NAIOP Developing Leaders Program for Members in our Southwest Chapters

What are the big legislative issues facing businesses in your market? NAIOP Developing Leaders from our Southwest chapters are invited to an exclusive program to hear from industry and legislative leaders on these pressing issues:

• Increasing revenue sources through higher commercial real estate taxes. California defeated this issue in 2020, but as states face declining revenues, CRE could be targeted.
• Barriers to economic growth and CRE development. Our industry contributed $1 trillion in 2020, and the impact on state economies is invaluable. 
• Environment and sustainability. Hear strategies for working with local policymakers on green roof requirements, energy benchmarking mandates, net-zero buildings, and more.
• Business and community topics. From affordable housing to impact fees to supporting businesses as we emerge from the pandemic, how can NAIOP engage with the government to support the industry and the communities in which we operate?

Engage in a discussion with both CRE practitioners and lobbyists who work with chapters in your market, then break into smaller groups for deeper discussions and networking.

Register Now

Examine the biggest trends in commercial real estate employment so you can make more strategic hiring and business decisions. Join these two experts for a discussion on how the pandemic has reshaped the talent management industry, recent findings on industry employment trends and compensation, recruitment and retention tactics, and the future of the commercial real estate workforce. Wondering how your business can address diversity and inclusion, succession planning or managing a multigenerational workforce? Bring your employment questions for our speakers to address during the Q&A portion of the webinar.

Speakers:
Christopher Lee, President and CEO, CEL & Associates
Marc Torrey, Vice President, SelectLeaders

Watch Webinar

We need your voice!

Over the past few months, NAIOP Charlotte, in conjunction with REBIC and other real estate associations, has spent considerable time and energy reviewing the proposed 2040 Comprehensive Plan from the City of Charlotte (the Comp Plan). 

It is a hefty document coming in at 320 pages and is a visionary document for how Charlotte will grow and develop over the next 20 years.  Charlotte Planning created the document with considerable community input, and it will be used as the guide for creating the  Unified Development Ordinance (a replacement for our existing zoning code), so there is a lot riding on the proper execution of the Comp Plan.

The Comp Plan rightfully addresses many concerns the community has, especially around equity and inclusivity   We fully support these goals, yet we want to be able to include goals to create a thriving community into the plan as well.  It is hard to distill such a large document into a few points, but the following are highlights of our concerns with the plan and the process to create it:

We are proud to introduce our new association members! The following is a list of individuals who have joined NAIOP Charlotte since January 1, 2021:

• Kelly Anderson, Claris Construction
• Andrew Burton, S&ME, Inc.
• John Coleman, EastGroup Properties
• Phoebe Dinga, Lincoln Harris
• Michael Henry, The Beck Group
• Daniel Hines, Bohler Engineering
• Zachary Howze, Seedwater Engineering, Inc.
• Eric Little, Keach Construction, Inc.
• Jason Mari, Gilbane Building Company
• Peter Moody, Harkins Builders, Inc.
• John Ratliff, EastGroup Properties
• Joseph Rhodes, Landcare Innovations
• Nathan Walker, United Mechanical Corporation
• Chad Wright, BB&T
• Kate Zawacki, Grandbridge Real Estate Capital, LLC

Listening sessions available for deeper conversations on the Charlotte Future 2040 Comprehensive Plan

Due to the high demand for the opportunity to have deeper conversations around the Charlotte Future 2040 Comprehensive Plan, the city will be hosting several listening sessions. Listening sessions allow city staff to listen to community feedback on the plan. These sessions are separate and in addition to the Planning Community Conversation.

Space is limited to 30 participants per session. We encourage our members to sign up NOW!

These small group listening sessions will not be live-streamed and will allow residents the opportunity to provide open and honest feedback.

Originally published by Tony Mecia on March 7, 2021, for Charlotte Ledger Business Newsletter.

The Charlotte Ledger’s Tony Mecia last week interviewed the chairman of Charlotte’s Real Estate & Building Industry Coalition (REBIC), Alan Banks, about the city’s proposed 2040 Comprehensive Plan. Banks is also the founder and president of Evans Coghill Homes, a Charlotte homebuilder.

This interview was part of extended coverage of the 2040 plan in the March 8, 2021, edition of The Charlotte Ledger e-newsletter. [More info / sign up for The Ledger here]

Remarks were edited for brevity and clarity:

Originally published by Patricia Kirk on March 8, 2021 for WealthManagement.com.

Commercial real estate services firm CBRE has just invested $200 million to acquire a 35 percent share of flexible workspace operator Industrious, with plans to purchase another 5 percent in the near future, making CBRE Industrious’ largest shareholder.

According to Bloomberg, Industrious, which now has more than 100 locations in 50 U.S. cities, plus Singapore, is already backed by approximately $200 million from other investors, including Brookfield Properties.

As part of the deal, CBRE is merging its own flexible workspace operation, CBRE Hana, with Industrious. When the transaction closes, 10 CBRE U.S. and U.K. Hana locations will be operated by Industrious.

Originally published on March 8, 2021, by VTS for CommercialObserver.com. 

VTS, the commercial real estate industry’s leading leasing, marketing and asset management platform, has released a global survey of office landlords showing that while landlords are working hard to bring tenants back to the office in a COVID-safe environment, there is mass uncertainty about exactly which measures will best accomplish this and which are most desired by tenants.

For the “2021 VTS Global Office Landlord Report,” the company partnered with an independent market research firm to survey senior leaders, all with budgetary authority, at 154 office landlords representing 5.3 billion square feet of commercial assets.

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