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Preparing and implementing a plan to transfer control of a firm to a new generation of leaders can be a daunting prospect. |
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Leaders of commercial real estate companies often face additional, unique challenges due to their firms’ complex valuation processes, intricate tax strategies and multifaceted ownership structures. |
Originally published on December 3, 2024, by Maria Gatea for NAIOP.
U.S. cities have experienced massive expansion across all real estate sectors over the past 44 years, according to recent StorageCafe research that looked at residential and commercial construction activity between 1980 and 2023.
Originally published on November 18, 2024, by Alexandra Both for NAIOP.
What is the best place to live in the U.S.? The answer varies, but livability often means striking the right balance between cost of living, city amenities, and quality of life. RentCafe.com measured livability in 139 metro areas using 17 metrics divided into three categories: socioeconomics, quality of life, and location and community.
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 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.
Originally published on October 9, 2024, by Marie Ruff for NAIOP.
“We’re in a really unique point in history in the sense that we have this huge demand curve for data centers at a time when we also have some constraints in power,” said Elissa Wilson, attorney, Vorys, Sater, Seymour & Pease, LLP, to begin a panel discussion on data center development at NAIOP’s CRE.Converge. “But the reason data centers are so important is they are fundamental to our modern economy. They’re fundamental to our way of life. They’re fundamental to every single transaction that happens online.”
Iredell County Commissioners recently directed staff to initiate a text amendment to its land development code that would have, among other things, limited density to one unit per five-acre parcel in some parts of the county. The measure was drafted and presented to the Iredell County Planning Board during last week's meeting where it was considered and debated. Some board members expressed concern about the adverse impact this amendment could have on housing affordability. Ultimately, it was determined the proposal necessitated additional discussion and it was tabled for the time being. We will continue to weigh in as the measure receives future consideration.
The City of Concord will hold its next wastewater allocation meeting on Tuesday, June 25th at 11:00 am. Here are additional details as well as the meeting packet (over 400 pages, may take a while to download).
Let’s hit this topic head on: The crux of the no-growth argument contends that by stopping growth, current residents can keep things stable and unchanged. Although avoiding change is impossible and unhealthy, they ignore this decision’s devastating results proven out repeatedly across the country such as skyrocketing taxes, shrinking access to housing, the inability to attract the best talent to fill needed service positions, business failure, and even a disconnect from funding at the state and federal level. Towns age out, infrastructure deteriorates, young people stay away, and regret sets in.
In this vein we were pleased to invite Chris Carney, Mayor of Mooresville, to our sound booth this month. He is both a leader, a guide, and an equalizer. Contending with these passionate sentiments daily, he is slowly and surely helping his Town Commissioners and residents cooperate at the ground level promoting solid financial strategies. With deft charm, logic, and irrefutable facts he explains how crippling the no-growth outcome is to any area. How? Listen to this enjoyable episode and find out.
The City of Concord will hold its next wastewater allocation meeting on Tuesday, June 25th at 11:00 am. Here are additional details as well as the meeting packet (over 400 pages, may take a while to download).
Originally published on April 29, 2024, by Jay Biggins for NAIOP.
In the wake of the coronavirus pandemic, many downtowns across the country remain disquietingly vacant. Office towers that once hummed with activity are a bit quieter, the hallways emptier. The U.S. has the highest office vacancy rates – 18.4% – since 1992. Some levels of hybrid and remote work are here to stay, and now the commercial real estate landscape faces some tough decisions, offering both challenges, which are clear, and unique opportunities, which are less well-defined but coming into focus.
The recently passed North Carolina State Budget contains millions of dollars for Union County to make sorely needed improvements to its water and sewer systems. The final version contains the following funding allocations:
These funds are significant and should assist in enabling the County and associated municipalities to meet its current and immediate future water/sewer infrastructure needs. The bill will become effective on October 2nd as Governor Cooper has announced his intention to let it become law without his signature. To view the State Budget in its entirety, click this link.
On April 10, 2023, the Mooresville Town Board established a working group for the purpose of evaluating and exploring the feasibility of implementing a development moratorium.
The working group has completed its assignment and its recommendations are as follows:
Originally published on May 19, 2023, by Kathryn Hamilton, CAE for NAIOP.
The Boston seaport has been continually reshaped since the 1800s, devolving from what was once a thriving area of commerce to acres of muddy parking lots and a few restaurants. Today, it is being reimagined again in a rapid and remarkable transformation that includes soaring office and lab towers, high-end residential, and all the retail services you could imagine.
Originally published on February 15, 2023, by Toby Burke for NAIOP E-Newsletter.
Cities and counties are increasingly adopting local ordinances that are intended to spur the electrification of our transportation system in order to reduce greenhouse gas (GHG) emissions from fossil fuels. A survey by The U.S. Conference of Mayors identified electric vehicles (EVs) “as the most promising technology for reducing energy use and carbon emissions in their cities.” Local efforts to support the use of EVs by both the public and private sectors will require the development and expansion of a reliable and sustainable EV charging system.
Originally published on November 8, 2022, for NAIOP E-Newsletter.
While most of the political establishment in the nation’s capital is focused on the midterm congressional elections, federal agency staff are still moving forward on developing regulations from legislation enacted this year. The U.S. Department of the Treasury and the Internal Revenue Service last Friday issued their Priority Guidance Plan for 2022-2023, detailing their top regulatory priorities for the next year.
Previous planning studies related to the Downtown include the 2006 Downtown Master Plan and the 2040 Community Plan. The 2022 Downtown Plan will both update the 2006 Plan and follow adopted 2040 Plan policies and action priorities. The Plan will be reviewed by the Huntersville Planning Board and eventually considered for adoption by the Huntersville Town Board of Commissioners.
The most recent public forum was held on October 20th with about 80 people attending. The presentation links are listed here for your review:
Once you have had a chance to view the presentation, please complete the survey which will be open until Monday, October 31st at 5:00 PM.
For additional details about the plan please visit:
Industrial properties are often built near neighborhoods, but that isn’t always popular with the residents, who have legitimate concerns about noise, traffic and pollution from the increased volume of trucks and vans.
On Nov. 8, Gastonia residents will vote on a $75 million Transportation General Obligation Bond Referendum. The City Council approved the bond referendum at its Aug. 2 meeting.
Proposed projects include:
Two and a half years after the pandemic began, the short-term future for the office sector remains uncertain, with record vacancy rates adding to the industry’s woes, according to a recent office report from CommericalEdge. And as hybrid and work-from-home business models continue to take hold — and rising inflation rates further deter workers from returning to traditional office settings — the sector’s long-term prospects are also murky.
The average full-service equivalent listing rate in the top 50 U.S. office markets was $37.58 per square foot in June — up two cents from the previous month, but down 2.6% from the previous year.
