U.S. demographics are becoming increasingly diverse. However, commercial real estate continues to lag, especially with representation in C-suite roles. At NAIOP’s 2021 Chapter Leadership and Legislative Retreat, Equality Institute CEO Bernadette Smith shared strategies to help real estate companies become more diverse and inclusive.
Originally published for GlobeSt.com by Kelsi Maree Borland on February 9, 2021.
If the latest impact survey from NAIOP is an indication, the recovery will be a bifurcated one. The organization conducts routine surveys to assess market activity during the pandemic, and the most recent shows investors continue to be wary about the market conditions. Investment activity has improved for resilient asset classes, but others continue to struggle amid the ongoing pandemic.
Originally published in the NAIOP Source E-Newsletter on February 18, 2021.
Dusty parking codes and parking minimums have contributed to the creation of between three and eight parking spaces per car in the U.S., cost real estate developers untold billions of dollars, and caused gridlock in urban centers. But now, these decades-old rules may be in for a dramatic overhaul as parking demand drops as much as 90% in many areas of the country, and municipalities and businesses consider these empty spaces for other uses.
Traditionally, municipalities have not allowed the cost burdens of “free parking” placed on developers to sway parking policy, according to Christine Banning, IOM, CAE, president of the National Parking Association, writing in the Spring 2019 issue of Development magazine. What could now change these parking minimums is the need for cities and towns to convert parking spaces into other uses, such as outdoor dining spaces, in an effort to save these small businesses. Residents, eager for lunch or dinner out with family and friends, are backing these changes.
CRCBR and NAIOP Charlotte are partnering for our first golf event of the year on Monday, April 26 at Providence Country Club! Spring Golf is a one-flight event (PM tee time) and will accommodate 120 players.
A variety of engagement opportunities, which include additional player registrations, offers the ultimate exposure to get you and your company name in front of developers and brokers and network with industry peers this April!
Sponsorship opportunities are available on a first-come, first-served basis. Make plans to join us as a sponsor for this fun and valuable event!
Individual, two-some, and four-some player registrations will be made available in March. More details coming soon.
To become a sponsor click the button below and complete the form or email Sandy Hower at [email protected].
Questions? Contact the NAIOP Charlotte office at [email protected].
CRCBR/NAIOP Charlotte staff and tournament subcommittee continue to monitor the ongoing global health pandemic and reserve the right to make necessary changes to the event based on federal, state, local, and/or club restrictions & guidelines.\
This event is hosted by NAIOP Charlotte. All NAIOP NC members as well as nonmembers are invited to participate.
Hear exclusive insights on the current political climate in NC and the country from renowned pollical strategy consultants, Brad Crone (“The Democrat”) and Chris Sinclair (“The Republican”). Find out what both sides have to say about the changing real estate landscape, the new administration, and what key issues are impacting the state and industry. Submit questions for the speakers in advance here.
Brad Crone
Campaign Connections
Brad Crone, 51, is president of Campaign Connections, a Raleigh-based consulting firm specializing in public affairs, public relations, and grassroots campaigns for trade associations, advocacy groups, and corporations. A North Carolina native, Mr. Crone has been providing governmental affairs and public relations consulting services since creating his firm in 1991. Prior to that, he was a daily newspaper publisher at The Thomasville Times in Thomasville, N.C. He was the first desktop newspaper publisher in the state with his weekly publication The Clayton Star, which he sold in 1989. Read more.
Chris Sinclair
Sinclair Public Affairs
Chris Sinclair has been actively involved in politics and public affairs in North Carolina for over 20 years. He has been recognized as a top influencer and strategist by multiple organizations, including Campaigns & Elections magazine who named him one of the Top 500 Influencers in American Politics (2013). He has founded multiple firms including Public Solutions, an award-winning public affairs firm, which later merged with Cornerstone Strategy & Communications to become Cornerstone Solutions. Read more.
NAIOP members had the opportunity to learn about the association’s legislative agenda and its priorities for 2021 during the virtual 2021 Chapter Leadership and Legislative Retreat, including specifics regarding what might await the industry on tax policy in the new presidential administration.
Some of President Joe Biden’s proposals offered during his campaign for the White House would have profound implications for the commercial real estate industry if enacted. Coupled with some of the elements of his robust policy agenda, the fiscal situation Biden inherits means that we can expect that there will be a lot of pressure to increase revenues in order to pay for politically popular initiatives in a fiscally responsible manner. As the nonpartisan Committee for a Responsible Federal Budget noted in a research brief, Biden’s campaign proposals would raise federal revenues between $3.35 trillion and $3.67 trillion over a decade and would increase taxes for the top 1% of earners by 13% to 18% of after-tax income.
Originally published in NAIOP E-Newsletter on February 2, 2021.
Watch NAIOP's State of the Association hear a recap of 2020, preview NAIOP's legislative priorities, and learn what’s next for the association as we journey through 2021.
The last 12 months have been filled with unexpected challenges and a pandemic none of us could have imagined. It impacted our lives and our industry in countless ways, from how we operate our businesses to tenant demand and use of space.
We anticipate a steady readjustment to a post-pandemic world, with a deep examination of how office, industrial, retail, and other shared spaces will be reimagined. These changes can be viewed as opportunities. The CRE industry continues to modernize and adapt as we create new strategies that will help us succeed.
Presented annually since 1979, the Developer of the Year Award is given annually to one developer that best exemplifies leadership and innovation in the commercial real estate industry.
Nominate your company for NAIOP's highest honor using our online nomination tool. Nominations close on Friday, February 26.
The Developer of the Year award is determined by a five-member selection committee of industry peers that uses the following criteria to evaluate entries:
In January, NAIOP conducted its seventh survey of its U.S. members on the impacts of COVID-19. Since April, the association has examined the pandemic’s effects on commercial real estate and how firms have responded. The four months since the last survey witnessed significant events, including federal elections and the FDA approval of two highly effective coronavirus vaccines. Respondents to the survey report improved rent collection rates, an increase in industrial investment activity, and an improved outlook for employment in their firms. Fewer respondents now expect the pandemic will significantly affect their business operations for more than a year. However, respondents also report continued disruptions to ongoing development projects.
The survey was completed by 228 NAIOP members between January 19 and 22. Respondents represent a range of professions, including developers, building owners, building managers, brokers, lenders and investors.
Below is an overview of the survey results with direct quotes from participants (in italics) followed by raw data from the survey and a profile of respondent characteristics. Results from September’s survey can be found here. Note that charts in this analysis illustrate data from the three most recent surveys. Data from the April-July surveys are published in earlier posts.
Last week, the House of Representatives and Senate advanced measures that would allow the Biden administration to use the budget reconciliation process to pass a $1.9 trillion COVID-19 relief bill without facing a filibuster in the Senate. The House passed their version of the budget resolution last Wednesday, and then passed the Senate's version as amended later in the week. The Senate passed the budget resolution after holding a so-called "vote-a-rama," a series of lengthy votes on Republican amendments to the resolution. The Senate ultimately adopted the budget resolution by a 51-50 vote, with Vice President Kamala Harris casting the tiebreaking vote.
Join fellow NAIOP Charlotte members for this Lunch with a Leader to hear from Council Member Ed Driggs, District 7. Charlotte’s 2040 Comp Plan will have a dramatic impact on the future of commercial real estate development. Members will have an exclusive opportunity to meet with Council Member Ed Driggs to have an open-ended discussion, moderated by Childress Klein’s Chris Thomas, about the happenings at City Council and well as the Plan’s impacts on commercial development, our community, and our members. This is your chance to provide face to face feedback and ask questions to a key leader in our community. This event is offered to NAIOP Charlotte members only at no charge.
Ed Driggs
Charlotte City Council - District 7
This event is offered to NAIOP Charlotte members only at no charge.
North Carolina is the #8 state in the U.S. for contributions to state GDP created by retail/entertainment real estate development. Overall, the construction and development of office, industrial, warehouse, and retail created and supported 67,041 related jobs and contributing $8.99 billion to the state’s economy in 2020 (the most recent data available).
The data is from “Economic Impacts of Commercial Real Estate, 2021 U.S. Edition,” published annually by the NAIOP Research Foundation.
New development and ongoing operations of existing commercial real estate buildings in the United States – office, industrial, warehouse, and retail – generates significant economic growth at the national level:
“Many factors point to a commercial real estate rebound in 2021,” said Thomas J. Bisacquino, president and CEO of NAIOP. “Obviously, we dealt with several unknowns and unexpected challenges in 2020. The pandemic accelerated trends already progressing in real estate. The warehouse sector has flourished as e-commerce demand intensified; office space has been impacted by tenant demand, as remote work options expand and companies rethink space needs; and the retail sector struggled as shoppers preferred to buy online. Nonetheless, commercial real estate construction and development sectors remain solid, valuable contributors to the U.S. economy, and we have a bright future as the economy continues to improve.”
Originally published on February 3, 2021, by Brielle Scott for NAIOP Research Foundation.
Many municipal approval processes tend to be opaque and provide developers with limited information.
To help address these issues, the NAIOP Research Foundation commissioned Distinguished Fellow C. Kat Grimsley, Ph.D. cantab, director of the Masters in Real Estate Development Program at George Mason University, to create a Development Approvals Index to evaluate the transparency, consistency and accountability of municipal permitting and inspection processes.
In a session at the 2021 Chapter Leadership and Legislative Retreat, Grimsley shared her experience developing the tool, an overview of its structure and variables, and her goals for its use as it continues to be refined. The Index consists of an Excel spreadsheet that end-users can complete based on available information for the permitting and inspection processes. It can be used for all product types.
Next week! Get a deep dive into the 2040 Comp Plan during this free Lunch with a Leader as we unwind the key areas of concern for the commercial real estate industry. The 2040 Comp Plan for the City of Charlotte will be the vision for our City, driving future growth and future policies for development. Larry Shaheen (The McIntosh Law Group) and Madeline Keeter (REBIC) will provide a brief background and overview of areas of concern for our industry. This is a perfect session to learn more so you can reach out to the City and elected officials with information about the impacts on commercial development. You are invited to submit questions in advance here.
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| Madeline Keeter Government Affairs Manager REBIC |
Jason Moore (Moderator) Business Development Rodger’s Builders |
Larry Shaheen Attorney The McIntosh Law Firm |
Discussion with Council Member Ed Driggs
Join fellow NAIOP Charlotte members for this Lunch with a Leader to hear from Council Member Ed Driggs, District 7. Charlotte’s 2040 Comp Plan will have a dramatic impact on the future of commercial real estate development. Members will have an exclusive opportunity to meet with Council Member Ed Driggs to have an open-ended discussion, moderated by Childress Klein’s Chris Thomas, about the happenings at City Council and well as the Plan’s impacts on commercial development, our community, and our members.
Originally published by the NAIOP Research Foundation on February 3, 2021.
The NAIOP Research Foundation has published its annual Economic Impacts of Commercial Real Estate, 2021 U.S. Edition.
Commercial real estate development and operation of existing buildings generated the following economic benefits in 2020:
Key measures impacting economic growth in 2021 include:
Important Reminders:
Not Registered Yet As A Mentee? You are still able to register and participate as a mentee, but please note that sessions are booked on a first-come, first-serve basis. Go to the program website to register and start participating today. Reminder: You must check the box indicating you have read and agree to the Mentee's Terms & Conditions.
Mentees and Mentors will be responsible for deciding to meet in person or virtually. Both parties must agree to meet in person. By registering and participating in the 2021 DL Mentorship Program, the participant hereby accepts the terms and conditions in the Participant Liability Waiver. NAIOP Charlotte reserves the right to make necessary changes to the DL Mentorship Program at any time based on national, state, and local COVID restrictions & guidelines.
Questions? Email [email protected].
How to Register:
If 2 or 3 above applies to you:
Questions? Email [email protected].
The deadline to register as a Mentee and have the opportunity to meet one-on-one with CRE industry leaders is next Wednesday! Register today to take advantage of this exclusive opportunity to make important connections and benefit from the knowledge, guidance, and ideas shared by our program mentors.
This year's program features 80+ available sessions (and counting!).
Your NAIOP membership must be renewed by the end of January otherwise you will be removed from the program.
Meet Our Mentors!
Originally published by Linda Strowbridge on January 5, 2021, for NAIOP.org.
In “The Evolution of the Warehouse: Trends in Technology, Design, Development and Delivery,” authors Steve Weikal and James Robert Scott detail the industry advances, consumer trends and emerging technologies that are driving a rapidly growing sector. Although their work at the MIT Real Estate Innovation Lab regularly immerses both Weikal and Scott in the topic, working on the report by the NAIOP Research Foundation exposed them to a striking array of future business opportunities within the warehouse segment.
