Raleigh's 1st Guide to Real Estate & Developments | By Thomas Kenna
Your Commercial Real Estate Update
8/29/2017
Trepidation regarding the suburban office market has risen in recent years as a number of the country’s largest corporations have fled their suburban headquarters for urban office space. Millennials are thought to be the driving force behind this migration as companies continue to find top talent in larger, urban environments. Businesses want to either hire or sell to millennials, which is why more firms are beginning to relocate.
8/24/2017
Great takeaways as Raleigh and the Triangle grow at over 63 people a day. Add as many lanes as you like, you’ll just get more traffic and congestion. To toll or not toll? This and more transit thoughts.
8/16/2017
Popular global co-working space provider WeWork has confirmed plans to plant a flag in downtown Raleigh. WeWork will be the new anchor office tenant at the 10-story One Glenwood building breaking ground in the fall. The company confirms it has signed a lease for 81,032 square feet.
8/2/2017
Action and activity has returned to the hulking, seven-story, historic Chesterfield building on Main Street in downtown Durham. Duke University started moving its first wave of research scientists and staffers into the former cigarette manufacturing plant’s newly renovated space in late July.
8/1/2017
The secret to a great workplace? Think of it as a people place first. To be successful, workplaces must promote human connections and nurture employee pride.
4/29/2017
To attract affluent professionals with a mobile lifestyle, architects and developers are adding high-tech communal work spaces and flex rooms to their designs.
4/27/2017
In Raleigh’s arsenal of incentives to help entice companies to relocate or expand in the city, there are funds for big companies bringing millions in new investment dollars, but not much for the small business owners that make up a big piece of the city’s economy. Under a new grant policy proposed, called jobsRaleigh, the City Council is considering setting aside $100,000 in its budget to specifically target small businesses seeking to grow.
4/25/2017
Private developers in downtown Raleigh delivered more than $205.3 million in new building projects in 2016. And according to the newly released State of Downtown Raleigh 2017 report there’s at least another $1.2 billion in both public and private investment that’s planned or already under construction over the next three to four years.
4/19/2017
The U.S. office market became more tenant-friendly in the first quarter in many big cities as a seven-year expansion slowed.
4/14/2017
Growing companies in search of young talent have had to look to new markets to access young talent pools and take advantage of better economics, like lower salaries and real estate costs.
4/1/2017
Today’s industrial users are looking beyond rental rates to consider transportation and inventory carrying costs when making location decisions.
3.24.2017
While urban office markets continue to be popular with Millennials, employers, including technology companies, are luring young talent to the suburbs with creative office campuses that provide lots of amenities, along with the greater housing affordability.
3.22.2017
At this point in the cycle, office tenants who may be seeking shorter-than-traditional lease terms may find themselves in difficult negotiations with landlords, who themselves are facing close lender scrutiny. But this trend may be changing.
3.20.2017
About 150 people gathered with stakeholders from Longfellow Real Estate Partners and Duke University to launch the first phase of new construction on the Durham Innovation District.The event marked the start of $100 million in new construction at the corner of Morris and Hunt streets for two seven-story office buildings one of which has been fully preleased to Duke Clinical Research Institute and a 1,200-vehicle, eight-story parking deck.
3.17.2017
A newly formed New York investment firm has made one of its first big real estate acquisitions with a $45 million deal near Research Triangle Park. An affiliate of Innovatus Capital Partners bought two Class A office buildings in Durham's Keystone Park at 430 and 530 Davis Drive.
3.14.2017
On the surface, suburban office rental rates look attractive, but there are advantages to an urban setting for the employer as well as the employee. Read more for Colliers insights.
3.10.2017
Landlords with big traditional office buildings are looking to increase their appeal, so they are taking small chunks of space and putting some hip tech start-ups there to give their buildings a cool vibe. By doing so, they are hoping to attract bigger, creditworthy tenants—the Googles, Amazons and Facebooks of the world.
3.3.2017
The Triangle region’s office market right now has the widest variety of new Class A building offerings under construction from downtown Raleigh to downtown Chapel Hill than the market has seen in more than a decade.
2.27.2017
Corner offices are a coveted piece of corporate real estate, but they probably shouldn’t be.
According to newly published research from office design company Steelcase, corner offices meet only a small percentage of modern CEOs’ needs.
2.10.2017
Due to rapid growth, the Southeast is emerging as an economic powerhouse with a diversifying base. With two international gateway markets in Atlanta and Miami and strong growth and educated work forces in smaller cities the Southeast region would form the sixth largest country in the world.
1.24.2017
What do millennials and suburban office buildings have in common? Many of them were born in the 1980s. While the 2 billion millennials globally are entering their prime working years and growing in influence, the office buildings of this era are increasingly growing out of date and in desperate need of facelifts.
1.20.2017
INC Research (Nasdaq: INCR), the global contract research organization that recently announced plans to expand and add 550 new jobs, has committed to a deal to build a new headquarters building for its expansion in Morrisville.
1.13.2017
Life sciences real estate is currently in that sweet spot of having strong occupancy and rental rates throughout the country, while also being just enough of a niche property type that overbuilding is nowhere close to a threat. Among the cities that serve as major life sciences hubs are primary markets including Boston, San Francisco, New York and the Washington, D.C. suburbs, as well as Seattle and San Diego.
1.11.2017
A Durham commercial real estate investment firm has bought two of the largest office buildings at Cary’s Regency Park corporate center, bringing the two Regency Lakeview buildings back under local ownership for the first time in more than a decade.
1.9.2017
Coworking represents a huge shift in how office space is leased, and creates new questions for owners and brokers. Once long term in nature, office leasing is now based on a subscription model in which monthly fees allow tenants to move about with greater flexibility as well as access to more amenities.
1.3.2017
Raleigh, NC has hopes for turning 300 acres of land near its downtown into a beautiful park. Elite landscape architecture firms are eager to help, and selecting the right one for the job won't be easy.
12.1.2016
Commercial property has been a big winner from years of ultralow interest rates around the world. Now markets are signaling that change might be in the air. Investors have been dumping government bonds in Europe, Asia and the U.S., sending prices tumbling. When bond prices fall, real-estate values often follow.
11.31.2016
Workplace design is a complex process. Workplace acoustics is one aspect of the process that is frequently overlooked and regularly a major reason for disappointment in the office place.
11.15.2016
As the industry mulls “what inning we’re in” one thing is sure: eventually every commercial real estate cycle winds down. But while no property type can be 100 percent recession-proof, certain assets are better positioned than others to weather an economic downturn. Click for the top six.
10.24.2016
Technology and data are changing commercial real estate, and corporate real estate is no exception. Sort of. Scott Nelson, president of corporate solutions at Colliers Intl. explains in depth.
10.13.2016
The technology revolution has delivered Google searches, Facebook friends, iPhone apps, Twitter rants and shopping for almost anything on Amazon, all in the past decade and a half. What it hasn’t delivered are many jobs.
10.11.2016
Months after confirming an expansion in Paris, Cary analytics giant SAS Institute is expanding in Europe again. The company has leased 50,225 square feet at Avenida de Valdebebas in Madrid, Spain.
10.8.2016
The corporate campus' of old are changing. With little open land left to pave, nightmarish commutes and a severe housing crisis, our economic future, enviable lifestyle and long-standing value system hang in the balance.
9.28.2016
Highwoods Properties has finalized its much-anticipated purchase of the 11-story Charter Square office property in downtown Raleigh, with an announcement late Tuesday that it had sealed the deal. Highwoods disclosed that it plans to invest a total $83.5 million in the purchase of Charter Square, which includes $5.1 million in planned near-term building improvements and additional capital set aside for new tenant improvement inducements.
9.21.2016
Building off the success of the recently completed 105 Friendly apartment building on Hillsborough Street, the same development team is now working with Raleigh real estate veteran Todd Saieed to duplicate and improve the plan at another Hillsborough Street site down the road. Saieed confirms he is working to buy the J&J Automotive site at 2812 Hillsborough St. with plans to build a new apartment building with street-level retail.
9.20.2016
Bad news for car owners: Developers in more U.S. cities are reducing the amount of parking spaces included in new projects as local authorities seek to encourage the use of mass transit and free up space for parks, housing or other uses. Cities are follow New York, San Francisco in opting to bypass building garages.
9.20.2016
The Raleigh office for national accounting firm BDO USA has outgrown its fourth office space of the past five years and will be relocating this time to downtown Raleigh. Colliers represented the tenant in a 19,000 SF expansion.
9.16.2016
MED-EL, the Durham-based developer of a next-generation cochlear implant device, celebrated Wednesday the start of construction for the company's new U.S. headquarters at the Meridian business park in Durham. MED-EL will be the anchor tenant for the three-story, $18 million office building at 2645 Meridian Pkwy.
9.13.2016
The Triangle’s commercial real estate capital markets logged more than $1 billion in major property acquisition deals in the first quarter 2016, a 56 percent increase compared to the year prior. Let that sink in. This is truly a booming market. What’s driving this demand for CRE in the Raleigh-Durham market? Click to find out.
9.9.2016
Highwoods Properties, Raleigh’s largest owner and developer of office buildings, has finalized its acquisition of the 0.62-acre Edison lot on Wilmington Street in downtown Raleigh that’s already zoned and ready for new tower construction.
9.07.2016
Peak Demand, a unit of Chinese manufacturer Nanjing Zhida Electric Co. Ltd., plans to invest nearly $2.6 million in a new headquarters and manufacturing facility in Wilson County. The 37 new jobs will average about $65,714. Compare that to the current county average of $40,812.
9.07.2016
With Kane Realty Corp. coming close to maxing out its development potential at North Hills over the next few years, developer John Kane is working out a way to buy more land fronting the I-440 Beltline for future mixed use development.
8.31.2016
Durham is in the running for 102 new jobs as a company considers Bull City for an expansion. According to a proposed incentives agreement, the company is a “contract development and manufacturing organization that provides an extensive range of integrated services to companies within the pharmaceutical and biotech sectors."
8.30.2016
Atlanta real estate investment firm The Simpson Organization has expanded its portfolio in the Triangle with the recent acquisition of the Carolina Corporate Centre office building on Glenwood Avenue in Raleigh. The Simpson Organization paid $12.1 million for the five-story building to an affiliate of Brookwood Real Estate Partners of Beverly, Massachusetts.
8.29.2016
In today’s economy, it helps to be a city or region that is smart and tech-savvy. And cheap. What may be surprising are the places making the top 10 list that lie outside the traditional tech clusters of the west coast and the northeast: places like Baltimore, Dallas, Raleigh-Durham, and Atlanta.
8.29.2016
Towns, sometimes miles apart, adopt starkly different strategies, reflecting the profound changes under way in suburban areas across the U.S. A growing body of survey research suggests millennials intend to gravitate to suburbs just like earlier generations did, but that they prefer a higher-density, more walkable version than the cul-de-sac communities of their parents.
8.24.2016
The “new era” tech and creative companies—defined for our purposes as firms that have come online in the last 20 or so years, and have grown at substantial rates while subsequently expanding their office footprints—have affected arguably the two most significant components of the commercial real estate business today: the leasing of office space, and what that leased space looks like.
8.19.2016
The 2016 CIO Awards featured a technology panel featuring North Carolina Technology Association CEO Brooks Raiford; Lou Valentino, TierPoint's vice president and general manager of North Carolina; and Jeff Henderson among others. The big takeaway? That the Triangle’s biggest asset – talent – is also among its biggest challenges.
8.15.2016
Beacon St Development has released drawings and details for his next big project. The Wade will be a five-story, classic-style building, located at 620 Wade Ave. and will have 27 condominium residences targeting Raleigh’s luxury home buyers. Unit prices will start in the low $700,000s. Penthouse units are expected to sell for $1 million or more.
Big banks have long been the standard “go to” source for construction financing. But their diminished appetite for those loans is sending developers scrambling to secure other sources of capital to fund new projects.
8.2.2016
The owner and developer of the long-proposed 19-story Edison Office tower in downtown Raleigh is in talks now to instead sell the high-profile corner site to the Triangle's largest office property owner, Highwoods Properties (NYSE: HIW).
8.1.2016
Life science companies are leading the way when it comes to entrepreneurial financing in the first half of 2016. That’s according to Durham-based Council for Entrepreneurial Development's most recent quarterly Innovators Report, which shows 67 percent of the $425 million raised in the first half of the year went to life science companies.
7.27.2016
Barely a month after the Brexit vote, the United Kingdom’s Department for International Trade is announcing plans to expand its ties with the United States with a Triangle office.
7.27.2016
Coworking spaces are all the rave in downtown and urban office centers. But what happens when your company out grows its space? Take a look for the answers.
7.25.2016
Construction crews have completed demolition of the former Greyhound bus station on Jones Street in downtown Raleigh to make way for a new $52 million urban-style apartment building called Metropolitan. The five-story, 241-unit building project will encompass much of the block bound by Jones, Harrington, Lane and Dawson Streets, next to the Quorum Center condominium building.
7.25.2016
Getting people from point A to point B as quickly and efficiently as possible is the basic goal of mass transit, and, generally speaking, faster is better. Much of the world, however, is far outpacing the United States in high-speed rail adoption.
7.20.2016
Though economic boosts this week were brought on by strong corporate earnings reports, continued job growth in the high tech sector has been the main catalyst to the resurgence of the U.S. office sector.
7.13.2016
Raleigh is the third best large city to live in, according to a report by personal-finance website WalletHub. The report evaluated the 62 largest United States cities based on 31 metrics, such as health and education system quality, tax burden, and economic growth.
7.10.2016
Giant healthcare REIT Ventas (NYSE: VTR) has agreed to acquire all the life sciences and medical real estate assets of Wexford Science & Technology for $1.5 billion. Wexford will continue to operate the portfolio, which includes innovation centers in Durham and Winston Salem, NC.
7.9.2016
Second-quarter office projections should please investors, as the traditional first-quarter slide was brought back up to full performance by midyear, with no sign of abating, according to market experts.
7.9.2016
Running a new company? Expanding to a new market? Traditional office leases may not be your best bet. Luckily, we have the top flexible, short-term solutions for your company.
6.17.2016
Nonprofit research giant RTI International will add a new 190,000-square-foot building on its main campus in Research Triangle Park. RTI officials did not disclose a budget for the project, though expect construction to begin in the fall.
6.10.2016
With most all of downtown Durham's big, historic tobacco and textile buildings now back in service as new office, art, and entertainment centers, here is a list of the 10 new projects adding to the downtown district.
6.8.2016
A tremendous amount of thought (and money) goes into understanding the housing and transportation preferences of millennials. As it turns out, most young Americans want what people of all ages want. And, like everyone else, they're not getting it.
6.6.2016
On Friday, the development team from Charlotte and Triangle-based Northwood Ravin unveiled plans for its next big project in the region: A 10-story office and retail building, called 555 Mangum, which will be built in partnership with Akridge, a Washington, D.C.-based real estate development firm.
5.23.2016
when we talk about the future of office space as a service, it turns out that the future may not be about the space at all. Take, for example, RocketSpace, a tech campus for startups in San Francisco and soon — having just last week announced plans for another campus — London.
5.18.2016
North Carolina was well represented on Homes.com’s list of the country’s best emerging cities to live for tech. Durham clocked in at No. 9; Charlotte No. 17; Raleigh No. 18.
5.10.2016
Fujifilm Diosynth Biotechnologies opened its new three-story, 62,000 square foot facility in Research Triangle Park. The new building, called BioProcess Innovation Center houses the company’s Process and Analytical Research and Development, Process Sciences, and Stability groups.
5.5.2016
A new startup accelerator focused on emerging agricultural technologies launched with $11.5 million in backing from major players in the Triangle’s life sciences industry. Called AgTech Accelerator, the group has backing from companies like Bayer and Syngenta and investment groups like Hatteras Venture Partners and Pappas Capital.
5.4.2016
Some companies give workers paid time off to devote to themselves, but skeptics say it seems like a gimmick. "Me" days are more than mental-health days, but less than vacation days.
4.29.2016
City planners are rightly on guard for fads. Think the festival marketplaces of the 1970s, or naming neighborhoods to sound like New York’s fabled SoHo. This year’s model—the Innovation District—may be next in line for a dose of healthy skepticism.
4.28.2016
The Triangle added more than 7,000 jobs from February to March and the unemployment rate dipped back below 5 percent. Across the state, three of the four counties with the lowest unemployment rate were all in the Triangle, according to data released Wednesday by the N.C. Department of Commerce.
UNITEDHEALTH TECH COMPANY PLANNING JOB ANNOUNCEMENT IN RALEIGH
4.22.2016
Real estate sources say Optum, the technology and services arm of UnitedHealth, has been scouting the Raleigh market for months with plans to establish a new office in the region, and they say the company’s settled on a deal at North Hills in Raleigh.
4.4.2016
The U.S. office market grew at a strong pace in the first quarter, an indication of strength in the economy as employers continue to expand. The amount of occupied office space grew by 10 million square feet in the quarter, and 45 million square feet over the prior 12 months, the strongest yearlong period since 2007, according to real-estate research firm Reis Inc.
4.1.2016
Economic development firm Consultant Connect has honored the top economic development officials for the Charlotte region and North Carolina as the best in the business for 2016. Chris Chung, executive director of the Economic Development Partnership of North Carolina, and Ronnie Bryant, CEO of Charlotte Regional Partnership, are included on the group’s list of North America’s Top Economic Developers.
3.31.2016
Venture-capital firms are raising money at the highest rate in more than 15 years, even as the values of some once-hot startups have begun to cool. With the quarter nearly over, U.S. venture funds have collected about $13 billion, which would be the largest total since the dot-com boom in 2000, according to preliminary data from Dow Jones VentureSource.
3.30.2016
Differences in the ways people manage the boundaries between work and personal life can lead to misunderstanding with bosses and co-workers. WSJ's Sue Shellenbarger discusses the different ways of managing work and home duties.
3.24.2016
As part of the planning process for Raleigh's 2030 Comprehensive Plan, adopted in 2009, the City developed a map intended to highlight areas that "demonstrated a need for economic development intervention." Seven years later, that map is getting an upgrade.
3.23.2016
A Raleigh development has been picked as a national ULI case study. A staid 1960s mall and its surroundings, North Hills Mall has been transformed into a $1 billion, 94-acre urban destination—located on two major parcels separated by an arterial street—for one of the fastest-growing metropolitan areas in the United States.
3.22.2016
History has shown that startups are highly concentrated in certain places in the U.S. But a new report finds that high-quality aka "high probability of success" startups are even more so.
3.16.2016
Raleigh is the ninth-fastest growing city in the U.S. in 2016, and Charlotte is tied for 13th, according to a new report from Forbes. The rankings are based on projections of population and economic growth as well as unemployment rates and median income.
Raleigh has long been associated with innovation thanks to corporate tech giants like IBM and Cisco in Research Triangle Park and more recently Red Hat and Citrix in downtown Raleigh, but within the last few years, Raleigh has emerged as a hotbed of innovation springing out of the local startup community.
3.9.2016
North Carolina’s real gross domestic product increased at the fastest pace in the Southeast in the third quarter last year. The 2.8 percent growth from the second to third quarter represents the 14th fastest growth rate in the nation, according to data released by the Bureau of Economic Analysis. None of the states with a faster growth rate had a real GDP larger than North Carolina, making this state the fastest-growing large economy in the nation in the third quarter.
DURHAM, ONE OF AMERICA'S MOST SUCCESSFUL CITIES IS LEAVING THE REST BEHIND
3.8.2016
High-tech firms have increased Durham’s GDP per person by 28% since 2001. By the same measure, North Carolina as a whole grew by just 3% over the same period. Durham’s success reflects an emerging trend: high-flying cities, and the successful firms they contain, are detaching from the rest of the economy.
3.8.2016
The developers behind downtown Raleigh’s Charter Square mid-rise and high-rise tower projects have submitted an updated design plan for the 22-story office and apartment tower building slated for Fayetteville Street’s City Plaza.
3.7.2016
Recent trends show work output may be affected if employees don't take a "true"lunch break. The negatives attributed to the lamentable rise of desktop dining.
3.7.2016
Would you bring an important new client to your workplace to “meet the office”, or is the buzzing cafe down the block your preferred VIP rendezvous spot? Would you invite your best friend or parents to see where you work, or prefer to spare them the detail? The answers to these questions speak volumes about the current state of our workplaces — and the opportunities they offer.
2.29.2016
Raleigh real estate development firm Capital Associates has announced plans to open in 2017 what will be the first private-owned office and laboratory building on N.C. State University's Centennial Biomedical Campus. The 44,500-square-foot building project has been in the works since 2007 when Capital Associates was picked over three other bidders for the project to partner with the university.
2.26.2016
Durham real estate investment firm The Dilweg Companies has added another three office buildings in the Charlotte market to its expanding portfolio of commercial properties across the Southeast. Dilweg, according to county records, paid $43.85 million for the Resource Square I, II and V office buildings in Charlotte’s University/Northeast submarket.
2.20.2016
Raleigh real estate developer Gordon Grubb has entered into a joint partnership with Florida-based Stiles Residential Group to build a new luxury-style apartment community overlooking the prestigious Carolina Country Club property.The 186-unit, mid-rise property, to be called 2600 Glenwood, will be located on the former Kip-Dell Homes property at the intersection of Glenwood Avenue and Oberlin Road inside the I-440 Beltline.
2.20.2016
Plant Impact, a British plant science firm, has picked the Triangle for its new North American headquarters. The company’s U.S. subsidiary, Plant Impact Inc., will establish its permanent offices in the “Research Triangle Park region,” the firm said Thursday in a prepared statement.
2.19.2016
The combination of an improving job market, the continued technology boom and a limited pipeline of new supply has allowed landlords to take back control of the U.S. office sector, with just about every major city, and some secondary markets, experiencing sustained rent growth.
2.18.2016
NC recently broke $1Billion in funding according to the Council for Entrepreneurial Development. The report says 170 entrepreneurial companies in the technology, life science, clean tech, and advanced manufacturing and materials sectors collectively raised $1.2 billion in capital through 191 equity investment deals.
2.17.2016
A new joint-venture partnership formed by North Hills developer John Kane and Raleigh real estate veteran Cross Williams has bought the Southland Ballroom and ThemeWorks buildings on a prominent site on N. West Street in downtown Raleigh. Neither party, however, is disclosing details yet.
2.12.2016
The project to transform Durham's skyline has just inked a new tenant. Duke University has signed on as the first tenant on the building, having signed a pre-lease agreement for 55,000 square feet of the building's 130,000 square feet of office space – a deal worth almost $17.3 million over the life of the 10.5-year lease contract.
2.12.2016
Ed Fritsch, of Raleigh real estate development firm Highwoods Properties (NYSE: HIW) announced Tuesday that they will be breaking ground soon on a fifth office building in its CentreGreen corporate park on Weston Parkway in Cary. But uncharacteristic of Highwoods, the firm is planning to break ground with no pre-lease agreement or potential tenants in place, yet.
2.3.2016
California is expensive. So what should you do if you have big ambitions for your startup, but the idea of paying San Francisco rents or living in the Silicon Valley tech bubble is more horrifying than exhilarating? Raleigh is your option.
2.1.2016
As companies squeeze more employees into less office space – in an effort to increase efficiency and productivity — landlords are facing a dilemma: How can they accommodate increased parking demands? And, what happens if a space becomes unleasable because of inadequate parking?
1.29.2016
For office space design in 2016, “sense of purpose” is the new catchphrase that office-using businesses are using to attract and retain workers, including the much sought-after Millennials, according to recent research reports.
1.29.2016
Heritage Properties, developers of The Legacy project in Brier Creek, have recently released plans for a new 150 ft, 205,000 SF downtown office tower in Raleigh's Glenwood South District.
1.27.2016
Outside-the-box amenities like rock walls and ping-pong tables won’t be around for long if they don’t prove to be an efficient use of space for companies, says Colliers International’s president of investor services Karen Whitt. Whitt, who advises her clients on the “new now” of amenities, from green roofs to better bike storage, says in order to have staying power, office amenities must not only help attract and retain talent, but also contribute to companies’ bottom lines.
1.26.2016
Once the province of U.S. tech hubs such as California’s Silicon Valley, venture capital has gone global. In a new report from the Martin Prosperity Institute, Rise of the Global Startup City, detailed data from Thomson Reuters is used to track worldwide venture capital investment in high-tech startups.
1.25.2016
The historic and redeveloped Venable Center office complex on Roxboro Street in downtown Durham has been sold to a new investor for $18 million. The Venable Center is an 85,886-square-foot complex of three historic tobacco mill buildings located at the Roxboro Road intersection with Pettigrew Street.
1.22.2016
"The shining stars continue to be warehouse and multifamily with continued interest in office product, ... it’s just hard to find," says Jimmy Barnes, head of Raleigh's NAI Carolantic at their 2016 conference.
1.20.2016
Raleigh-based Dominion Realty Partners has signed an anchor pre-lease commitment with SunTrust bank to kick off construction of its next big tower building project in downtown Richmond.Called 3Twenty-One Building, the $93 million, 21-story building will add to Dominion's portfolio in Richmond
1.19.2016
Introducing Crane Watch — an interactive map of Triangle area-development projects underway or projects that came out of the construction phase in the past few months. We are tracking new office buildings, new retail strips, new multifamily projects, new hotels, new industrial facilities and government-financed projects.
1.11.2016
The best way to get to know your new neighbors is to throw a good party, and John Kane nearly packed the house with his launch event for The Dillon tower project in downtown Raleigh on Tuesday night.
1.9.2016
It’s January and 2015 is in the rear view mirror. No matter what kind of year you had last year, your slate is now clean and 2016 looks more promising than ever. As you begin to think about the year ahead, think about your real estate needs. Here are six key questions to consider as you enter 2016.
1/8/2016
Colliers is pleased to present The Legacy at Brier Creek. A cutting-edge, Class A office building designed for a LEED Silver certification. Located in the thriving Raleigh-Durham market, Legacy at Brier Creek is conveniently situated in one of the Triangle’s most vibrant and centrally located mixed-use community of Brier Creek.
1.7.2016
The Triangle’s commercial real estate markets closed out a second record-breaking year in a row for investment sales with more than $3.8 billion in transactions transpired in 2015.
1.7.2016
The office sector has been the underdog in the real estate market recovery. It has lagged behind other sectors such as apartments, industrial and even retail. But office is slowly and steadily coming back with a brighter outlook for 2016
12.29.2015
A Maryland real estate investment firm has managed to uncover nearly $20 million in profit value at the 10-story Erwin Square Plaza tower in Durham after closing on the sale of the building for $57 million on Tuesday.
12.29.2015
An Atlanta multifamily development firm is moving forward with plans to build a 316-unit, high-end apartment community next to the Wells Fargo mortgage operations center in west Raleigh.
12.17.2015
To the surprise of almost no one and the dismay of just a few holdouts, the Federal Reserve today at last raised its interest rate target range by 25 basis points—for the first time in almost a decade. Colliers examines what this means for property owners and investors.
12.16.2015
There’s a reason today’s hottest talent and most promising minds aren’t jumping ship at their beloved startup to join the ranks at larger, more established organizations. They’re staying put because they love their scrappy, do-what-needs-to-be-done culture and aren’t willing to risk a move that might necessitate wearing ties and wingtips — even if that move comes with a great paycheck or newfound security. But this reality is sobering news for many large companies looking to breathe new life into their work, and coworking space could be a fix.
12.16.2015
Gov. Pat McCrory wants to see private development on at least six state-owned properties in Raleigh. McCrory updated the Downtown Raleigh Alliance on his “Project Phoenix” plans to revitalize state government buildings in and around downtown by adding retail and residential uses. His goal is to extend downtown Raleigh’s success and round-the-clock activity to the north, where state offices currently create a dead zone.
12.11.2015
Colliers' client, Heritage Properties, is finalizing plans to build a four-story office building at Brier Creek in Raleigh, a project that its development team says is likely to be the first of several in the Triangle region.
12.10.2015
The latest Commercial Property Prices Indices (CPPI) report produced by Moody’s and Real Capital Analytics (RCA) shows that prices in the commercial real estate universe have experienced double-digit appreciation over the past decade. According to the report, the national all-property composite index has shown cumulative appreciation of 38.0% since October 2005, while the index for core commercial assets has gained by 34.9%.
12.10.2015
Raleigh, a city that has enjoyed a reputation as a creative tech hub, actually saw the workforce share of "creative class" workers decline between 2000 and 2014, according to a report co-authored by urbanist Richard Florida and the Martin Prosperity Institute.
12.9.2015
Wake County has officially unveiled its transportation plan, a bullish, expensive endeavor that could cut your commute in half. At least that's the hope of the county, which has been working for years to figure out how to offset the population boom threatening to make rush hour an increasingly competitive sport in the coming years.
12.7.2015
A west Raleigh office building on Wycliff Road that was sold to New York investment firm three years ago has nearly tripled in value with a $23 million sale recorded on Dec. 4. Garrison Investments of New York City had purchased the five-story office building at 2610 Wycliff Road for $8 million in 2012 and spent about $3.2 million in property improvements.
12.4.2015
It can be a double-edged sword for big commercial property owners across Wake County when the county revenue department on Dec. 7 releases the results of its newest property reappraisal results, the county's first full-market revaluation since the last appraisal in 2008.
12.3.2015
Newly released documents show that if financial services giant Fidelity had taken its planned 600-job expansion in Durham overseas, the firm could have met with massive savings – indicating the weight state incentives had on the company's decision to expand locally.
12.1.2015
Durham County and North Carolina recruiters have bested an offer from Philadelphia to attract a lucrative 260-job expansion project by global clinical research firm Premier Research.
11.25.2015
New commercial construction in Wake, Franklin and Johnston counties have fallen behind 2014 numbers after being up for most of the year. National construction data firm Dodge Data & Analytics released its October numbers Wednesday, and shows only $5.6 million in new commercial construction started last month – down almost 95 percent when compared to the same time in 2014.
11.24.2015
Real estate giant Alexandria Real Estate Equities has unveiled sweeping plans to transform a 56-acre Research Triangle Park site into a campus for life science and agricultural technology companies. Plans for the campus call for more than 1 million square feet of space.
11.20.2015
A Florida real estate investment firm has paid $42.3 million for a Wells Fargo (NYSE: WFC) mortgage operations campus in west Raleigh that was sold two years ago as part of a distress sale. Daytona Beach-based Consolidated-Tomaka Land Co. (NYSE MKT: CTO) purchased the three-building office campus from an affiliate of National Financial Realty Inc. of Torrance, California.
11.20.2015
Growth was the theme of an early morning panel that brought Ed Paradise, Cisco's Research Triangle Park site lead; Bill Humphries, CEO of Merz North America; and Dr. Michelle Berrey, CEO of Chimerix, to the quarterly Triangle Business Journal Power Breakfast. All three leaders say their companies are growing – and that growth is happening here in the Triangle – despite challenges such as talent acquisition and taxation issues.
11.19.2015
Under the new lease accounting rules, operating leases will now be called Type B leases. The way to distinguish between Type A (Capital) and Type B (Operating) leases remain largely unchanged, except that the FASB eliminated the bright–lines in the rules
11.17.2015
Led by Longfellow Real Estate Partners' $118 million acquisition of nearly a dozen office and flex buildings at Keystone Technology Park in early October, the Triangle's commercial real estate investment markets posted big gains with a cornucopia of deals across all sectors all month long.
11.17.2015
Hiring for the 200 new positions Frontier Communications is bringing to Durham could start immediately, says Dennis Bloss, Frontier’s vice president and general manager in North Carolina. The plan is to have between 100 and 125 employees in place in the first quarter of next year, he says. The final hurdle was for Durham City Council to approve its own matching incentives during its meeting Monday night, which it did. "We will be moving forward," Bloss said Tuesday morning.
11.16.2015
Raleigh real estate developer Patricia R. "Trish" Healy has been hand-picked by the global chairman of the Washington, D.C-based nonprofit Urban Land Institute to represent the educational organization on a more global scale in a newly created position as chairman of the Americas.
11.16.2015
As the Triangle economy has recovered from the depths of the recession in recent years, there is one area of the real estate market that still looks very similar to the way it did in 2009: New office construction. Since late 2008, when a credit crisis took hold and banks severely tightened their lending standards, financing for new office buildings has been extremely difficult if not impossible to obtain.
11.15.2015
Navigating an office lease can be a tricky task for just about anyone, and there are many terms that can impact your budget if you don’t fully understand them. Not all language will affect your bottom line directly, but if you don’t familiarize yourself with these six terms, expect to take a financial hit.
11.15.2015
The former Headquarters Park corporate campus at the edge of Research Triangle Park in Durham is in the process of being gutted to make way for a $5.8 million renovation effort.
11.14.2015
A new report ranks North Carolina as the 10th-best state for job growth in 2015 based on data from the Bureau of Labor Statistics. The report, authored by Arizona State University Professor Lee McPheters and summarized by Forbes, ranks the top cities and states that have experienced the greatest non-agricultural job growth in the first three quarters of 2015.
11.13.2015
A Raleigh real estate development firm, the Lundy Group, has beat out more than a half-dozen other bidders from across the country seeking to buy and redevelop a city-owned parking lot on Hillsborough Street in downtown Raleigh that’s slated for a future high-rise, mixed-use tower.
11.13.2015
Ed Fritsch, president and CEO of Raleigh-based Highwoods Properties (NYSE: HIW), has been elected as the new chairman and leader for the National Association of Real Estate Investment Trusts. NAREIT is the representative association and voice for companies and investors in the U.S. that own, operate and manage income-producing real estate.
11.10.2015
Businesses contemplating a move to Raleigh will soon know exactly how much they need to invest to receive substantial incentives from city government. The city currently negotiates with businesses on a case-by-case basis. But it offers no guidelines or minimum standard for qualifying for incentives other than those set forth by the state’s Job Development Investment Grant program. Now, things are about to change.
11.6.2015
The days of heads-down, individual, focused work at a desk for eight hours are gone. Technology has untethered us. Employers seeking innovation are encouraging collaboration among workers and groups. Successful organizations recognize that the definition of work is shifting to include times to refresh, be inspired, socialize, move about, and collaborate.
11.6.2015
Caruso is launching a corporate concierge program to help employees keep up with personal errands and maintain a better work-life balance. The program is akin to the concierge service that Caruso provides in its luxury mixed-use properties.
11.6.2015
For law firms, real estate costs has been a challenge for some time, as recessionary woes have been replaced by a landlord’s market when it comes to class-A office space, pushing up rents and leaving some markets with very few blocks available.
11.5.2015
The owners and landlords of many the Triangle's classiest and most technologically-savvy office buildings in the Triangle have unshackled their rent rolls and are embracing higher rent rates of $30 per square foot or more, which they attribute to rising construction costs.
11.5.2015
With or without an anchor tenant, development partners for the proposed Forty540 office park on Slater Road overlooking the I-40 and I-540 interchange in Morrisville say the project will be ready and underway before the end of the year, ideally before the end of November.
11.3.2015
Wexford, a subsidiary of BioMed Realty Trust (NYSE: BMR), has confirmed that it has signed major pre-lease deals with both Duke University and with a new entity called BioLab NC to occupy about half of the 273,000 square feet of new office space that will open up when the redevelopment of Chesterfield is completed in the first quarter of 2017. Chesterfield will also have about 11,000 square feet of street-level retail and restaurant space.
11.3.2015
Where "open" and "cool" are common place, come see the top startup office designs in Europe.
11.2.2015
Developers who are trying to fill the ever-expanding demands of technology companies have learned a few things about their clients: They want a place to park their bikes; they like bringing their dogs to work; and, above all, they love rooftop decks.
11.2.2015
After a slide in recent years, North Carolina is moving back up Site Selection’s list of states with the best business climate.North Carolina was No. 2 behind Georgia on this year’s list, up from No. 3 in 2014. North Carolina used to routinely top the list but slipped from the No. 1 spot in 2013.
10.30.2015
What's in a company's corporate real estate? Today’s most effective executives are harnessing its power to amplify their brand, culture, and, ultimately, their bottom line.
10.30.2015
In its first ever acquisition in the Southeast, Texas-based commercial real estate investment firm, Grifffin Partners, has acquired the five-story Carolina Place office building on Glenwood Avenue. For Griffin, "Raleigh-Durham is an economically diverse and unique part of America with tremendous upside, and we appreciate having the opportunity to be a small part of it.”
10.29.2015
Raleigh, this year's conference host city, showed planners first-hand how proactive planning, responsive regulation, and strategic, timely investments generate desirable growth in the downtown core and neighborhoods.
10.26.2015
It’s become a mantra across the United States: Attracting and growing small businesses is the key to creating jobs and powering economic development. States say they want to help independent businesses, but large companies take the majority of the dollars.
10.22.2015
With a big ceremony in Chapel Hill on Thursday morning, university and town leaders joined with the presidents of Cousins Properties and Northwood Ravin to market the formal start of construction for the $123 million Carolina Square commercial and residential building project on Franklin Street.
10.22.2015
For the fifth year running, the American Institute of Architects (AIA) has crunched the numbers on its national sustainability challenge, the AIA 2030 Commitment. Architects who sign up pledge to strive to meet an ambitious energy-efficiency target in their designs—a 60 percent reduction in predicted energy-use intensity. A report on the program issued Thursday shows mixed results.
10.20.2015
North Carolina is well positioned to continue capitalizing on the growing STEM economy, according to a new report from the U.S. Chamber of Commerce. The report ranks North Carolina at No. 10 among states with the greatest high-tech performance and innovation and entrepreneurship
10.16.2015
Win or lose, the fact that the Raleigh is under serious consideration for a General Electric headquarters sends a message, says John Boyd, principal at New Jersey-based The Boyd Company. “Even if Raleigh finishes second in this project, it will give the state enhanced credibility,” he says. “It signifies Raleigh’s chance as a true competitor in the international high-tech industry.”
10.13.2015
Business is booming for companies that lease out storage units to consumers. Rents are rising, most units are occupied, and competition is tame due to limited new construction in the wake of the financial crisis, storage executives and analysts say.
10.9.2015
There was no opposition spoken at Wednesday night's public hearing for John Kane's plan to build a parking deck in Raleigh's downtown Warehouse District in partnership with Raleigh City Council, so final design plans for the project, he says, are "full speed ahead."
10.8.2015
Raleigh planning officials say the $75 million effort to replace bridges at Peace Street and Wade Avenue could provide greater development opportunities along Capital Boulevard near downtown.
10.2.2015
Startups: They’re tucked in between the IBMs, the Ciscos, the Lenovos. In the new Research Triangle Park, however, startups could serve a starring role – as one of the only concrete specifics given during Thursday's announcement was that co-working space was a non-negotiable element of the project’s first construction phase.
10.1.2015
It makes intuitive sense that people living or working in walkable, in-town locations would not need to drive as often, or as far, as those in areas where things are farther apart.The result, in professional transportation lingo, is that development in more urban locations is unlikely to "generate" as much motor vehicle travel as does development in suburban and rural locations.
9/30/2015
Triangle economic development officials are praising Gov. Pat McCrory for signing legislation to replenish the state’s taxpayer-funded incentives program. The new law will extend the Jobs Development Investment Grant program through 2018. It also raises the monetary value of JDIG grants the state can give each year from $15 million to $20 million for most projects.
9.30.2015
The Triangle area added nearly 10,000 jobs from July to August, though the unemployment rate was still more than a full percentage point higher than at the end of last year. The Durham/Chapel Hill metro outpaced Raleigh/Cary in terms of job growth, adding 5,700 payroll jobs in August, a significant increase. Raleigh/Cary did well by adding 4,000 jobs in the month, and was still 11,800 total jobs higher than August of last year.
9.29.2015
Tenant and investor focus on wellness in buildings is inextricably linked to the greening of commercial real estate, particularly in institution-owned and -managed properties. This focus is helping to reshape the built environment.
9.29.2015
Durham County is officially backing Research Triangle Foundation’s urbanized vision for Research Triangle Park – investing $20 million of its general fund dollars into the Park Center project.
9.28.2015
The proposed rezoning would be to office mixed use with a five-story height cap. The rezoning would increase residential density, office intensity, and retail intensity. City staff had found it to be consistent with the future land use map.
9.26.2015
Raleigh’s gross domestic product has grown significantly faster than Durham’s in the past five years, and has outpaced the average of the nation’s largest metro areas. From 2009 to 2014, Raleigh has seen its GDP increase by 26 percent to $72 billion. In that same time, the Durham-Chapel Hill metro area has increased its GDP by 10 percent to $44 billion, according to new data released by the U.S. Bureau of Economic Analysis.
9.25.2015
The Charlotte Business Journal reported earlier this year that the Raleigh-based commercial real estate firm was planning to develop the midrise complex on a 3.3-acre block bounded by Trade, Sycamore and Fifth streets, and Irwin Avenue. The property is on the opposite side of Irwin from the Gateway Village development on West Trade.
9.24.2015
Venture capital spurs high rents. High rents absorb venture capital. The only way out of San Francisco’s vicious housing cycle is through better zoning: building as much housing as it takes to absorb the demand. But the soaring rents and the investment rush actually conspire against building more supply.
9.24.2015
American Underground is restructuring its Raleigh hub – a move that displaces all of its 25 entrepreneurial teams in downtown.
9.23.2015
Real estate offers several advantages that are not available to other investment vehicles: Leverage, interest deduction, depreciation and appreciation are the main drivers, but other overlooked benefits include control over your investment, annual fees (management) and 1031 tax-free exchanges.
9.22.2015
Using some of the Commerce Department's last funds from the North Carolina's waning Jobs Development Investment Grant Program, N.C. Commerce Sec. John Skvarla and Gov. Pat McCrory on Tuesday announced that Deutsche Bank's technology center in Cary will be growing by another 250 job positions.
9.21.2015
Longfellow Real Estate Partners, the Boston-based real estate investment firm that's been making a big push into the Triangle over the past two years, has added another 11 office buildings on Davis Drive in Durham to its portfolio of properties.
9.20.2015
Many who toil in real estate analysis like to use as many statistics as possible to evaluate how a property market is faring. The preferred metric for demand is employment, and for office demand, labor statistics are often whittled down to determine an “office using employment” measure. But as the economy has evolved and industrial classification systems have shifted, the estimate for office employment may not capture all of those truly working in an office setting.
9.19.2015
According to the Council for Entrepreneurial Development’s (CED) just-released Innovators Report, 2015 might be a blockbuster year for investments in North Carolina startups. At least it will be if the second two quarters follow trends set during the first half of 2015, when nearly $427 million was invested in North Carolina companies through 90 deals.
9.18.2015
Today's office is a heck of a lot more than a bullpen full of desks where workers shuffle papers for eight hours a day. It is supposed to be so inspiring in its beauty that it literally spurs creativity. It should be striking enough to impress clients and work as a recruiting tool, but not so flashy that it irks investors.
9.18.2015
Time for a visit to Mumbai? How about Shanghai? For employees based in Airbnb's newly expanded San Francisco office, such a trek requires going no further than a decked-out conference room or café corner. Check out how other companies have gone beyond with their office space too.
9.18.2015
Three Triangle institutions are listed on Thomson Reuters' new ranking of the 100 "most innovative universities" in the world. UNC-Chapel Hill is No. 15, Duke University is No. 17 and N.C. State University is No. 68.
9.17.2015
Swiss finance giant Credit Suisse confirms it will occupy 70,000 square feet of space in one of Lenovo’s buildings on Paramount Parkway in Morrisville. The move is to accommodate an already-announced 25 percent headcount expansion in the Triangle.
9.16.2015
Fidelity Investments has signed a lease deal to take back all of its former office space at Danbury Hall in Durham after the global financial services firm blew through its hiring goals in nearby Research Triangle Park.
9.16.2015
Warehouse spaces attract big investors, vie with skyscrapers for top rents. Nontraditional buildings are “in incredibly high demand by the class of tenant that doesn’t want to work in a ‘Class A’ building with a lot of old guys that wear ties,” said Steven Roth, chief executive of Vornado.
9.16.2015
Durham and Raleigh are among the most "recession-recovered" cities, according to a new report from personal financial website WalletHub. Among the 150 largest U.S. cities, Durham is No. 19 and Raleigh is No. 22.
9.15.2015
“Blockbuster” is the word Council for Entrepreneurial Development CEO Joan Siefert Rose used repeatedly Tuesday to describe the first half of 2015 when it came to entrepreneurial fundraising. Entrepreneurial companies raised nearly $430 million in the first half of the year.
9.15.2015
A provision of the budget proposal unveiled Monday would cap spending on light-rail projects at $500,000. That could prove to be a major setback for the Durham-Orange light rail line, which is expected to cost as much as $1.6 billion.
9.14.2015
If getting through the work day (let alone the whole week) feels like a painful slog, maybe your little respites need some tweaking. You might be failing to make the most of your work-day breaks. A new study published in the Journal of Applied Psychology found that common beliefs—like the importance of getting away from your desk—didn’t actually translate into measurable outcomes when it came to making breaks more restorative.
9.13.2015
The Triangle has long been a hotbed for startups. Homegrown companies such as SAS, Cree, Red Hat and Quintiles rank among the area’s largest employers and are major forces within their respective industries. But new startup hubs hope to add new horsepower to this economic engine.
9.11.2015
Investors aren’t treating real-estate investment trusts like hot properties anymore. An index of REIT stocks is on track for its worst year since 2008 after a six-year rally pushed it up 348%, including dividends, from its financial-crisis-era low, as of Friday’s close.
9.10.2015
Street design in our walkable cities, towns, and neighborhoods should begin and end with making places where people want to be. Ironically, many of the “Complete Streets” Americans are now building are incomplete when it comes to placemaking and beauty.
9.10.2015
After more than 150 meetings and responses from roughly 4,200 local residents, Wake County officials are nearly ready to begin drafting a final proposal for what transit in the county will look like within the next decade.
9.9.2015
Investor activity for commercial property sales in the Triangle slowed down in August compared to the previous summer months with a total of $178 million in major building trades recorded during the month – and much of that due to corporate acquisitions and a business realignment.
9.9.2015
Organizations are beginning to think more strategically vs. tactically about the way their offices are designed, Boston Properties’ SVP and regional manager Bryan Koop tells GlobeSt.com. We spoke exclusively with him about this topic and trends he sees emerging in lifestyle workplace design.
9.9.2015
Technology is certainly a growing sector of the economy right now, so if you are an investor looking to take advantage of that trend, where should you place your money? Looking at where office rent growth has been strongest may be a good starting point. Here are 10 office markets popular with technology firms that experienced the highest jumps in rents from the second quarter of 2013 to the second quarter of 2015.
9.8.2015
Office amenities are a hot commodity. While the focus, in the wake of the Great Recession, has been on keeping costs down and delivering low bottom lines to tenants, that’s giving way to differentiation through quality, making a building brand essential currency in today’s marketplace.
9.8.2015
There is a common problem in the commercial real estate industry that will directly affect your bottom line. The worst part is that it occurs all too often. The problem is not understanding the difference between usable square footage (USF) and rentable square footage (RSF).
9.8.2015
Riding the high-speed train between Berlin and Hamburg, Germany’s two largest cities, is a radically different experience from riding its American counterpart, Amtrak’s Acela, and the US should pick up quickly.
9.3.2015
WaterWalk is already aiming to break ground on the $17 million, 138-unit building project by mid-March 2016, confirms David Redfern, president of WaterWalk's real estate and franchise development.
9.3.2015
Grubb Properties of Charlotte and an affiliate of Blue Vista Capital Management have purchased and are planning to renovate the two buildings known as Headquarters Park Alpha and Headquarters Park Beta. Both were built around 1987 and each has about 73,700 square feet of office space available. The buildings sold for a combined $6.6 million, according to county records.
9.2.2015
A new report from the Global Entrepreneurship Monitor (GEM), sponsored by Babson College and Baruch College, finds that 27 million working-age Americans--nearly 14 percent--are starting or running new businesses. That's a record high for this study, now in its 16th year. And it's an impressive showing for a developed economy, where finding work with an employer is easier and capturing market share harder than in less-developed nations.
9.2.2015
A recent ruling by the National Labor Relations Board that has the potential to significantly alter the relationship between companies and their subcontractors has set off a new wave of uncertainty for North Carolina businesses, according to labor and employment attorneys.
9.1.2015
On Tuesday, Raleigh City Council voted to approve a rezoning request from Raleigh real estate developer John Kane and his firm, Kane Realty Corp., to build two new mixed-use development towers at the site of the old Dillon Supply Co. warehouse in downtown Raleigh's Warehouse District.
9.1.2015
A new Duke University-fueled entrepreneurial space, The Bullpen, is officially open in downtown Durham. The 15,000-square-foot space is the official home of the Duke Innovation and Entrepreneurship Initiative, and resides on the third floor of a building with a storied history.
8.30.2015
As recent data indicates, office buildings in Central Business Districts (CBDs) are just about the hottest investment right now. But not all CBDs are created equal, here are the top five the National Real Estate Investor journal reccomends.
8.30.2015
Initial results of a recently completed downtown Raleigh hotel study shows that the downtown district will need at least 400 more full-service hotel rooms after 2017 – and that city leaders may need to ante up some money to attract the right project.
8.29.2015
Big Blue is getting a big face lift in Research Triangle Park. “One thing about being 50 is – your space isn’t exactly modern,” says IBM's (NYSE: IBM) newly tapped North Carolina chief executive Fran O’Sullivan.
8.28.2015
Businesses that choose to move their headquarters to North Carolina might be able to save themselves a lot of money in taxes. A new report from the nonpartisan Tax Foundation found that North Carolina has the fifth-lowest tax rate in the nation for corporate headquarters.
8.28.2015
The Commerce Department said Thursday the nation’s gross domestic product—the government’s broadest measure of economic output—expanded at a 3.7% seasonally adjusted annual rate in the spring, faster than the initial estimate of a 2.3% growth rate. Other recent reports have shown gains in consumer confidence, retail sales and home building.
8.27.2015
Researchers from MIT published a paper that found that social distance is a greater determinate of city networks than geographic distance. Cities have traditionally been analyzed at the national scale, with social data being compared to other cities around the country. But now the urban environment is being explored at a deeper level, and we're beginning to understand how people form sub-communities within their cities.
8.27.2015
Construction of new office space in New York City is on track to hit a 25-year high this year and almost double that built in 2014, reflecting increasing employment and low interest rates, according to a new report by the New York Building Congress.
8.26.2015
Watch out, New York City. You may be a favorite to many, but other office markets are getting their time in the spotlight. While traditional primary markets continue to hold the largest sales volume in the United States, secondary and tertiary office markets are experiencing greater investment activity.
8.24.2015
New York private-equity form Sycamore Partners will acquire 100 percent of Charlotte basted Belk Inc. (BLKIA) in a transaction that values the company at approximately $3 billion.
8.21.2015
At the beginning of July 2015, new IECC and ASHRAE 90.1 standards were released. These codes deal with energy efficiency standards that are mandatory for residential and commercial owners to follow. One aspect of the code changes that could have unforeseen consequences for both tenants and owners of commercial space is new mandates associated with lighting fixtures and switches.
8.20.2015
Are we in a tech bubble? Not so long ago, that was a question for Wall Street analysts and venture capitalists to debate among themselves, being of little interest to anyone else. But that was before recent investors valued Uber at $50 billion and Airbnb at $25 billion.
8.20.2015
A third quarter Sentiment Index just released by The Real Estate Roundtable, a public policy organization, shows that senior CRE executives’ expectations for the commercial real estate market over the next 12 months are becoming more moderate than they were a year ago.
8.20.2015
An Atlanta-based retail real estate company has acquired the Capital Plaza retail center property that's anchored by a PetSmart and a Staples store off U.S. 1 in Wake Forest, paying $7.45 million for the building.
8.19.2015
The Triangle market recorded nearly $318 million in major commercial property sales in July that included a mix of manufacturing, multifamily and hotel property deals.
8.19.2015
Technology and energy companies in the Triangle are set to embark on a hiring spree. A new report released by the Research Triangle Cleantech Cluster found that 84 percent of technology and energy companies in the area expect to hire within the next five years, adding between 1,500 and 3,300 employees.
8.19.2015
The joint venture owners of the Triangle Town Center mall in north Raleigh have disclosed few details about the pending sale of the mall property that's supposed to transpire in the third quarter, however new corporation filings with North Carolina's Secretary of State office are giving a few clues.
8.18.2015
A Raleigh-based affordable-housing developer will get tax credits and $1.3 million in loans to build 80 family apartments on Legion Road.
8.18.2015
After our look at Millennials’ values and their outlook in my most recent post, I’d like to zoom in on the next generation’s thoughts on leadership. What sort of leaders does Generation Y value in the workplace? And what sort of leaders are Millennials becoming as they experience their 30s?
8.14.2015
Even with RTP's continued growth, Lenovo looks to cut 7% of Triangle workforce ASAP.
8.13.2015
Investors are pushing commercial real-estate prices to record levels in cities around the world, fueling concerns that the global property market is overheating.
8.13.2015
The asking price for a city-owned split parcel at 301 Hillsborough Street in downtown Raleigh has risen 13 percent to $3.5 million. Raleigh is in the process of selling the 1.2-acre site, which currently serves as a surface parking lot for Campbell University Law School.
8.12.2015
Rents increased both for new renters and those renewing their lease. Rents for tenants who renewed their leases rose an average of 5.2 percent, up from a 4.6 percent increase for those who renewed in the fourth quarter of last year.
8.12.2015
From leading tenant advisors to past landlord representatives, if you are a building owner, their advice is worth taking to avoid leasing pitfalls.
8.11.2015
Global mergers and acquisitions are on pace this year to hit the highest level on record, thanks to a buying spree from companies on the hunt for growth.
8.11.2015
After months of delays, the N.C. General Assembly is now moving quickly on approval of an incentives program for industry recruitment. The state Senate voted 36-12 Monday night to approve the economic development bill which revamps and updates incentives in NC.
8.10.2015
American Underground, a Capitol subsidiary co-working space that used to have just two spaces in Durham and a third in Raleigh, announced its campus is expanding into the historic Trust Building across the street – taking startups with it.
8.10.2015
Hillsborough’s reawakening will hit a major milestone over the coming weeks, as two of the street’s larger redevelopment projects are completed
8.5.2015
Highwoods Properties (NYSE: HIW) in its quarterly earnings report issued late Tuesday announced that it will be breaking ground before the end of the year on two new commercial building projects in Nashville, Tennessee, and Greensboro that will have cumulative value of about $46 million.
8.4.2015
Many investors are shifting focus from core investment capital and finding secure transactions in secondary and tertiary markets. These locations have more volatility, lower barriers to entry and less job growth. But with the risk comes reward.
8.3.2015
In an attempt to understand more about, and clear up some of the misconceptions regarding the Unified Development Ordinance (UDO), the document behind the remapping process, the Raleigh Public Record interviewed two key persons that helped shape the UDO — Ken Bowers, the planning director in the city of Raleigh, and Steven Schuster, the chairman of the planning commission.
7.30.2015
Trig Modern, with its quirky, curvilinear furniture designs, metal and glass light fixtures, and funky, geometrical chandeliers, is exactly the kind of cool, local, independent store Raleigh wants downtown. Too bad the owner can't afford it.
7.29.2015
A Raleigh hotel development firm has paid $4 million for the Enterprise Rent-A-Car building on McDowell Street near the Raleigh Convention Center as the company weighs plans for a future high-end hotel property.
7.28.2015
By now, it is a given that many companies in the tech sectors prefer older loft buildings in nontraditional office neighborhoods, where they offer millennial workers must-haves such as coffee bars and Ping-Pong tables.But finding all that in a building with robust Internet options can be tricky to pull off.
7.27.2015
Adding to the $160 million in new multifamily, retail and hospitality projects in areas around N.C. State University's campus on Hillsborough Street over the past two years, a group of Raleigh developers have broken ground on a new five-story luxury student apartment building.
7.23.2015
When compared to the life sciences clusters in Boston or California, Research Triangle Park stands apart in at least one major way: Cost of renting work space.
7.23.2015
With the housing market in its fourth year of recovery, construction of single-family homes and multifamily rentals is rebounding. Not so for condo construction.
7.23.2015
Public Private partnerships, or PPP's, are leading the way in bringing innovation to cities worldwide.
7.20.2015
Raleigh real estate firm The Lundy Group will be the first development firm up to the plate in what is expected to be a lively upset-bid process for a 1.18-acre city-owned property on Hillsborough Street in downtown Raleigh.
7.20.2015
Lease agreements are typically fairly long-term contract arrangements, often 3 to 15 years. Predicting longer term business cycles beyond 2 to 3 years makes planning future space requirements for office tenants a difficult proposition.
7.19.2015
Raleigh's City Council chambers overflowed last Tuesday evening, packed with people unhappy—sometimes vehemently unhappy—about how their properties and neighborhoods will be rezoned as part of a massive citywide remapping.
7.16.2015
Banner Company Apartments LLC last week filed a site plan with the city to build up to 270,000 square feet of multifamily building space on the 1.8-acre site at that was formerly a Greyhound bus terminal at 314 W. Jones Street. A representative of Raleigh's City Planning department says the six-story building is expected to house 250 apartment units on the corner of Harrington and Lane streets.
7.15.2015
The owners of the five-story Colonnade II office building in north Raleigh – and the former headquarters of Salix Pharmaceuticals – have announced a plan to raise $10 million in new equity using a relatively new investment platform in the real estate markets: crowdfunding.
7.12.2015
The pace of investor deals for major commercial properties in the Triangle slowed in June with only 10 major buildings of $7 million or more trading hands, but experts in the market say that's likely only a minor lull.
7.8.2015
Hired in 2006 as deputy planning director and promoted to interim director of Planning and Development in 2014, Ken Bowers is now director of the city's new Department of City Planning. Josh Stephens spoke with Bowers about Raleigh's future for the latest installment of the "Planners Across America" series.
7.8.2015
Less than two weeks after the executives and staff of Biologics Inc. began moving their headquarters operation into the company's new 76,000-square-foot office building on Weston Parkway in Cary, Biologics is already making plans for its next big expansion.
7.7.2015
U.S. office rents are on the rise across 70 percent of the country, and the Triangle office market is nearing the head of the pack.
7.7.2015
The construction boom along Hillsborough Street near N.C. State University's Bell Tower monument will soon be adding one more: A five-story, crescent-shaped apartment building that its developers are calling Studio 1912.
7.6.2015
Move-in is imminent, says David Gardner, the managing partner of a new fund – Cofounders Capital – to be based in this new space in Cary.
7.6.2015
The developer and owner of the new Crescent Main Street luxury apartment complex in Durham, Crescent Communities of Charlotte, has sold its third new property in the Triangle at another near-record-breaking price.
7.6.2015
The Raleigh city council members in January picked Queen's team from a group of at three applicants as their chosen developer for the site based on his plans to preserve the main Stone's Warehouse historic building and turn it into a "creative production hub" for food entrepreneurs.
7.2.2015
Raleigh joint venture partners Dominion Realty Partners and Medical Mutual Insurance Co. have acquired an office building in Durham's Meridian corporate park for $8.75 million.
7.1.2015
Blue Cross and Blue Shield of North Carolina announced Wednesday that it has reached a purchase agreement to sell its iconic headquarters building and campus in Chapel Hill for $35 million, and the deal will also keep the property in local hands.
7.1.2015
Employers took on 8.2 million square feet of additional office space in the second quarter, marking one of the stronger periods since the recession but a relatively modest expansion by historical standards, according to real-estate research service Reis Inc.
6.30.2015
A sliver of land that the N.C. Department of Transportation says it needs for the $80 million Raleigh Union Station transportation project on Martin Street is threatening to derail a second phase of condo buildings planned at Bloomsbury Estates.
6.29.2015
Charter Square North will be a sister building to the 11-story Charter Square South office building that opened in mid-June at the corner of Fayetteville and Lenoir streets, but the North Tower will be twice its size at 22 stories tall and also incorporate 194 apartment living spaces.
6.25.2015
By now, you might have heard that 2015 is the year Millennials take over the workforce. Does the thought fill you with dread? If so, you aren’t the only one.
6.24.2015
Blackstone Entrepreneurs Network – an entrepreneurial mentorship program funded by the Blackstone Charitable Foundation – is expanding again, this time in Research Triangle Park.
6.22.2015
The development teams behind both the proposed Durham Innovation District and redevelopment of The Chesterfield in downtown Durham will be going to the Durham City Council at a special-called meeting Wednesday asking for financial incentives for their respective projects.
6.19.2015
CBL & Associates Properties, known locally as the co-owner of Triangle Town Center mall in north Raleigh, has taken on another big position in the state with its $192 million purchase of the Mayfaire Town Center and Community Center in Wilmington on Thursday.
6.18.2015
For the first time, Raleigh City Council discussed details of a plan that could put $20 million into a proposal to encourage developers to create new limited-rent housing while setting aside more land and money for its affordability programs.
6.16.2015
Chicago-based real estate investment firm 29th Street Capital has bought into a 272-unit townhouse-style apartment community in north Durham, paying $13.5 million for property.
6.16.2015
REIT salaries, bonuses and other benefits now more closely linked to financial performance
6.15.2015
Raleigh neighbors voice anti development concerns at Ridgeroad development.
6.13.2015
It's the start of a new chapter for the nearly 5-acre site near Crabtree Valley Mall in Raleigh where a group of local developers had once envisioned a 43-story tower building of both luxury hotel and condominium quarters.
6.12.2015
Red Hat may outgrow their downtown tower sooner than expected.
6.11.2015
19-story offiec tower unveils plans.
6.10.2015
MDO Holdings, the investor group behind O2 Fitness Clubs, is transforming the space at 107 Fayetteville St. into an entrepreneurship hub, already 100 percent pre-leased.
6.9.2015
The Florida owner of the DoubleTree by Hilton hotel on Page Road in Durham has cashed in its bet on the Triangle property with a $33 million deal that is twice the price paid for the property three years ago.
6.9.2015
Of the nearly $469 million in major commercial property sales recorded in the Triangle during the month of May, nearly half were in hotel acquisitions, according to a review of deed records in Wake, Durham and Orange counties.
6.6.2015
Lightstone Value Plus Real Estate Investment Trust III, Inc. announced Friday that it has acquired Courtyard Durham by Marriott for $16 million.
6.5.2015
The stars seem to be aligning for an almost forgotten piece of land between N.C. State University's Centennial Campus and the Dorothea Dix Campus in Raleigh that university leaders have long targeted for more commercial development for Centennial corporate partners.
6.4.2015
The longtime owners of the 539 Muze building on Foster Street in downtown Durham have sold the one-acre site to a Chapel Hill development firm that's planning to build one of the largest residential condo projects in the Triangle in nearly seven years.
6.4.2015
The new 283-unit community will be called Sojourn Lake Boone, and its first apartment units are expected to open by January 2016. The whole project is expected to be completed in late 2016.
6.3.2015
Colorado bandwidth infrastructure provider Zayo Group Holdings is extending its long haul dark fiber network between Atlanta and Washington, D.C., and construction will run straight through Raleigh “like a highway,” says an exec.
6.1.2015
After helping revive a hotel brand that was quickly going under, Five Mile Capital is cashing out of its portfolio of 89 Red Roof Inn hotels nationwide and selling its ownership stake as part of a $600 million bid funded by Barclays.
5.29.2015
Under a state Senate proposal for swaps of public land worth more than $100 million, Umstead State Park would annex Wake County’s park and bike trails at Lake Crabtree – while the Raleigh-Durham Airport Authority would take title to prime state acreage in West Raleigh.
5.29.2015
A prominent 6.1-acre site next to the Durham Bulls Athletic Park in downtown Durham has been sold to a private developer group planning for a dense, urban mixed-use building project for the future.
5.28.2015
Allscripts confirms new tenancy at North Hills with 12-story office tower to be constructed.
5.28.2015
Seeing a real estate opportunity, Raleigh-based Grubb Ventures is now converting a one-time supermarket distribution center just northeast of downtown into a hub for such businesses.
5.28.2015
Planning commissioners met Tuesday to vote on a site plan in Crabtree Commons and on the rezoning of four properties on West Hargett Street.
5.28.2015
Tribridge Residential LLC, an Atlanta-based apartment investor, has made its third major investment in the Triangle region in the past year with the $35.6 million acquisition of the Whetstone Apartments at 501 Willard St. in downtown Durham.
5.27.2015
The cities with the strongest markets for civic innovation are also the cities where entrepreneurs believe strong connections exist between the tech community and civic actors.
5.27.2015
The Villages of Chapel Hill apartment community in Carrboro has been sold for $29 million to a new-to-Triangle investment group that also plans to invest another $2 million in improvements.
5.26.2015
Targeting select low-income communities for an infusion of resources isn’t the answer to the problem of urban poverty. But what is?
5.22.2015
Of the largest 25 rental markets, less than 19% of all rental listings are affordable for recent college grads.
5.22.2015
Global investment banker Credit Suisse is planning a 25 percent expansion – one that will involve an entirely new space in addition to its current footprint in Research Triangle Park.
5.21.2015
With most of its major construction projects out of the way, Raleigh-Durham International Airport is set to begin the first phase of its long-term planning effort that will chart the airport’s course for the next 25 years.
5.21.2015
The latest Commuting in America report shows that work travel accounts for only 16 percent of all trips and 19 percent of all trip miles—a small slice of daily movement, and one that's steadily fallen since the 1960s.
5.21.2015
flash back to 2009, when Raleigh's City Council debated—and ultimately shelved—a task force's proposal for what's known in planning parlance as inclusionary zoning, which in essence requires residential developers to include affordable units as a condition of building.
5.20.2015
The city of Raleigh’s proposed budget includes a property-tax increase of about 4 percent, a hike approved by voters in a referendum last fall. If approved by the City Council, the change could amount to a double-whammy tax hike for Raleigh property owners, combined with Wake County’s proposal to raise its own property taxes.
5.19.2015
Starwood in early May paid $72 million, or $76,433 per unit, for the purchase of three apartment communities in Raleigh and Durham that have a combined total of 942 rental units, according to deed records filed in Wake and Durham counties.
5.19.2015
The fate of an office tower expected to join downtown’s skyline hinges on the demands of a barbecue restaurant that has been a Raleigh institution for more than 75 years. It all comes down to eight parking spots.
5.19.2015
Common urbanist wisdom says that if you build good alternatives to driving — convenient transit, safe places to bike and walk — people will give it a try. It sounds like a rational approach to dealing with the growing gridlock in all major American cities. Unfortunately humans are an irrational species.
5.18.2015
Wheelock Street Capital has sold its stake in two hotels in Raleigh and in Cary for $24.7 million to a Maryland-based hotel investment group that has been expanding its portfolio nationwide.
5.18.2015
Durham LED-maker Cree Inc. (Nasdaq: CREE) plans to spin out its Power and RF subsidiary, and has filed the paperwork to initiate the public offering process for the new company with the U.S. Securities and Exchange Commission.
5.18.2015
Flight to Quality (FTQ) is a phrase that may top the list of overused real estate terms, but it still gets a lot of air time. That’s because nobody has come up with a more succinct way to describe what happens when a flagging market offers tenants an opportunity to upgrade their work space at rents they didn’t think possible.
5.18.2015
The list of aging apartments along Six Forks Road continues to dwindle as apartment developers comb that area of the city for redevelopment opportunities.
5.15.2015
Stuck in a lease? Don't think finding a subtenant will be easy? Now there's a new app that can help.
5.15.2015
A recent trend for companies involves moving away from the suburbs and into areas that are more “walkable”. In fact, these areas are appreciating more, which makes them even more attractive to commercial buyers.
5.15.2015
“Health and lifestyle” and “work-life balance” are the phrases de jour, but these are far from the reality of those striving to get ahead in the corporate rat race. If that’s you, you’re probably familiar with the 6 a.m. start, the 8 p.m. finish and many weekends spent catching up on a backlog of emails.
5.15.2015
Bob Greenberg has seen the ups and downs of Big Blue. And, despite some analyst opinions over the past few quarters, Greenberg says we’re about to be in one of the ups in Research Triangle Park. “When you feel that traction, you just know it,” he says.
5.15.2015
A bipartisan bill introduced in the U.S. Senate Thursday would designate the entire highway corridor from Raleigh to Norfolk, Va. as a future interstate.
5.14.2015
Whole Foods Market Inc. reported sales growth figures that were well below analysts' expectations and a far cry from its glory days of the mid-2000s, Bloomberg reports. And one reason for dwindling sales is competitors from every end of the grocery spectrum ramping up their organic offerings.
5.14.2015
Andy Andrews, president of Dominion Realty Partners, confirms that he's filed a rezoning request that would allow for construction of a 10-story office building at Wade Park that would be visible to the thousands of motorists who pass by every day on Wade Avenue.
5.14.2015
Eight feet of added ceiling height may not seem like a lot, but for warehouse builders, the extra clearance can be the difference between an empty building and one that attracts a tenant such as Walmart.com or Amazon.com.
5.14.2015
Located front and center, the walnut-and-steel staircase at Yodle Inc.’s New York City headquarters is a hangout—a place to eat lunch, chat, hold meetings, give a staff presentation, and soon, watch movies.
5.14.2015
Communities across the country are grappling with a surge in drone use that’s raising safety and privacy concerns—and thorny legal questions—about a slice of sky officials have largely disregarded.
5.14.2015
IHOP has signed a 3,800-square-foot restaurant lease for one of the retail spaces opening up in the new Stanhope student housing complex this summer at 3001 Hillsborough St. The relocated IHOP is expected to open in the spring 2016, according to Kane Realty Corp.
5.13.2015
Property owner Grubb Properties has filed a site plan with the Raleigh planning department to add a six-story apartment building to the property on a 0.87-acre lot on the Sterling Glenwood property.
5.13.2015
Thanks in large part to Duke Realty Corp nearly $500 million office portfolio sale of 22 buildings and three land parcels in Wake County, the region finished the month of April with a record level of commercial sales transactions.
5.13.2015
According to a new forecast released by the Urban Land Institute, growth for commercial real estate is expected through 2017. As outlined in the report, this particular sector of real estate should experience solid growth for the next three years, the longest period of time for expansion within the industry.
5.12.2015
Live-work-play was not invented by real estate developers or urban planners. It’s something that we may not even realize we have always wanted and now demand. What’s at the root of this demand for LWP? And why does the acronym fall short of describing what we really want?
5.12.2015
Here are nine little things you should do on your own before making a decision among your final building options. After all you are the one who is going to be spending a significant amount of your time there, typically for the next five to 10 years.
5.12.2015
Resilient: Strong. Healthy. Successful again. But how does a city become resilient? Here are five ways that city leaders can help.
5.12.2015
On Friday, Rubenstein and Grubb finalized its sale of the Newcastle South office building at 1015 Swabia Court at the Imperial Center business park in Durham for $14.75 million. The partnership had in March 2014 sold its sister building, Newcastle North, for $14.5 million.
5.12.2015
In the coming year, Duke University plans nearly $500 million in major capital projects.
5.11.2015
The city’s getting ready to say just how high downtown might go. A broad redefinition of the city’s development rules would allow buildings in the city’s core to rise as high as 40 floors without special approval.
5.11.2015
DTZ, a rapidly growing commercial-real-estate-services firm backed by private-equity giant TPG, has cut a deal to buy Cushman & Wakefield Inc. for $2 billion.
5.8.2015
The city government owns most of the parking lots at 301 Hillsborough St., which share a block with the Flying Saucer restaurant and a law firm. Now Raleigh is preparing to sell its land, and developers are salivating over the chance to build a 20-story tower.
5.8.2015
The N.C. Department of Transportation’s contract with a private developer to build toll lanes on Interstate 77 includes a controversial noncompete clause that could hinder plans to build new free lanes on the highway for 50 years.
5.7.2015
Three Class A office buildings in Raleigh and Durham are part of a major portfolio that their Atlanta-based ownership is marketing for sale.
5.7.2015
Business growth, downtown apartments and residents are breaking through all time high records in downtown Raleigh, yet transit is still an open unfinished question.
5.6.2015
A California company that specializes in renting furnished, corporate apartments has acquired all of the 300-unit Courtney Estates at Brier Creek apartment community in Raleigh for an undisclosed sum.
5.6.2015
The U.S. condominium market has begun to take shape in most major metropolitan areas. Condos are back and ready to boom.
5.6.2015
Colliers takes a look at when it is the right time to buy your office space instead of lease it.
5.6.2015
When North Carolina’s State Property Office sent out a notice in April that it was seeking to lease between 400,000 and 500,000 square feet of office space in the Triangle as “swing” space for employees in buildings that’ll soon be undergoing renovation, state officials didn’t know what kind of response they might get.
5.4.2015
With foreign capital flowing back into the U.S. commercial real estate market in a substantial way, Colliers is taking a look at the longer-term view of factors that will impact the U.S. market as we continue in economic recovery mode. Here are five of the most significant that are in play now.
5.4.2015
Downtown Raleigh’s rapid growth is clearly visible. Our major streets are changing before our eyes. And a disturbing trend has begun to reveal itself. Downtown Raleigh is being transformed by repetitive, five-story, stick-built apartments atop concrete parking structures.
4.27.2015
Real estate sources across Raleigh are saying that Allscripts Healthcare is close to signing a big office lease deal to move all of its people and operations out of The Forum office park in north Raleigh to a higher profile, 18-story building at North Hills.
4.25.2015
Much of urban America, and New York City in particular, is in crisis. Cities are becoming desirable again, but planning is still stuck in the post-war mentality of decline.
4.22.2015
Investors are pouring more money into real-estate funds than they have since the property bust, but a few giant fund firms are collecting the lion’s share of the spoils.
4.22.2015
Competition for new jobs and business isn’t limited to the states. City staff have drafted a formal program that would offer incentives for businesses to move to Raleigh, to stay here or to expand their presences here.
4.21.2015
Downtown Raleigh continued to add new businesses during the first quarter of 2015, with nine street-level businesses opening their doors to the public.
4.15.2015
Almost half a million U.S. businesses will die this year. But it doesn't have to be your company, at least if you mitigate the pitfalls that commonly trip young companies.
4.13.2015
The Falls of Neuse shopping center rezoning case, a development that has caused debates between developers and residents, has once again been postponed by City Council — this time, to May 12 for a public hearing.
2ND APARTMENT COMPLEX COMING TO DOWNTOWN RALEIGH EDISON PROJECT
6.16.2014
The 2nd phase of Gregg Sandreuter's Edison project has begun, with 223 new apartment units beginning construction at the city block of Martin and Wilmington St.
4.7.2015
There are now some three dozen megacities in the world, each sprawling areas home to more than 10 million people. Bigger cities come with obvious advantages, But massive population growth has also led to more pollution, spiralling rent, and crumbling infrastructure.
4.2.2015
The U.S. office market continued its slow-and-steady recovery in the first quarter, with technology-heavy markets leading an overall modest growth of rents and occupancies.
4.1.2015
With office space in downtowns becoming increasingly harder to find—and more expensive—suburbs are starting to capture the attention of businesses looking to save on rent or expand. Nationwide, offices in high-end suburbs are capturing a disproportionate share of growth in office tenant expansion compared with downtowns.
3.28.2015
Much of urban America, and New York City in particular, is in crisis. Cities are becoming desirable again, but planning is still stuck in the post-war mentality of decline.
3.27.2015
Nontraded REITs became popular among individual investors over the past five years with a simple proposition: buy portfolios of properties, pay annual dividends of 6% or more, then liquidate the assets and return investors’ original capital and then some. But now they are falling on hard times.
3.27.2015
Downtown Durham looks at beltway loop alternatives to re-ignite the city core.
4.25.2015
Big time investment firms and REIT's that once had in-house brokerage teams are now outsourcing to the some of the largest commercial brokerage firms in the US.
3.23.2015
There are scuffs on the carpet, scratches on the varnished wood and often impatient crowds in the cramped women’s bathrooms. So, starting around June, the city of Raleigh will put more than $10 million into a renovation of the facility.
3.16.15
Sandreuter's Harrington Street Acquisition Partners has paid $3.6 million for the two buildings at 437 Harrington St. and 441 Harrington St., according to county records. The seller was Marlowe Farms & Land Inc.
3.12.2015
Most shopping-mall operators are shying away from new construction, especially as e-commerce cuts into foot traffic. Apparently a Canadian firm doesn’t have the same concerns: It aims to build not only a new mall, but the biggest mall in the U.S.
3.11.2015
Glenwood and Moore Square businesses struggle while Warehouse District and Fayetteville St retail thrive in Downtown Raleigh.
3.10.2015
Today, a measure that is becoming increasingly utilized by many corporate real estate executives and savvy service providers is the rent-to-revenue ratio. Most industries, geographic regions and local economies have benchmarked rent-to-revenue ratios or, in simple terms, the percentage of sales that you should be allocating toward property that is typical for your specific industry.
3.9.2015
Developers have had to get creative when it comes to salvaging America's failing shopping centers, turning them into hospitals, churches, and even parks.
3.9.2015
In this highly polarized political environment, states and localities, are ever more taking on the character of separate countries. Washington’s gridlock is increasingly matched by decisive, often “go it alone” polices from local authorities.
3.5.2015
North Carolina, it turns out, ranks among the 15 cheapest states in the U.S. with an effective property tax rate of 0.88 percent, which is the average property tax owed on a single family home in 2014 divided by the average estimated value of a single family home as of the end of 2014, according to the report.
3.4.2015
Some of Silicon Valley’s biggest companies are on a real estate buying binge, paying premium prices to make sure they have enough space for future expansion.
2.27.2015
Student housing has undergone a transformation in recent years, with an increasing number of private developments resembling high-end apartments rather than traditional dormitories, with amenities including swimming pools and party rooms.
2.26.2015
Already, according to Reis Inc., a real estate research firm, the Raleigh-Durham market had one of the highest rent increases in 2014 (4.8 percent) compared to a nationwide average of 3.6 percent.
2.23.2015
Two Raleigh real estate firms and a Chicago investor have bought the buildings and much of the land at the corner of Hillsborough and West streets in downtown Raleigh that has sat mostly vacant the past five years.
2.19.2015
The plight of declining metropolitan regions—which sprawled the most from 2000 to 2010—highlights the difficulty in preserving compact communities in places suffering from significant losses in population and employment.
2.16.2015
The real estate stars have aligned – again – for the joint venture partnership between Rubenstein Partners and Grubb Properties after the sale of the two newly renovated Lenovo office buildings in Research Triangle Park in a deal valued at $127 million.
2.11.2015
2.10.2015
The developers of the proposed – and long-debated – neighborhood grocery center at Dunn and Falls of Neuse roads in north Raleigh have conceded defeat in one battle to build the first Publix-anchored grocery store in north Raleigh.
2.9.2015
HQ Raleigh is growing, its co-founders having just purchased what used to be the William-Cozart furniture production facility on West Street in downtown Raleigh.
2.6.2015
2.5.2015
The outdoor Commons area at Triangle Town Center mall in north Raleigh, once a bustling center of activity when it opened in 2004, has over the past few years turned into somewhat of a ghost town.
2.4.2015
Raleigh tops a list of 15 United States metros with a larger STEM grad percentage than the leading STEM country – Finland.
2.3.2015
In the Triangle, at least, Duke Realty was known to be the low-cost leader on rental rates for new Class A office space with its emphasis on keeping occupancy rates high.
2.3.2015
Property appraisers for both Wake County and Durham County tax offices are fanning out across the region in preparation for the reassessment of real property values, a project that happens only once every eight years.
2.2.2015
The owners of a couple of small retail buildings on Chatham Street in downtown Cary have filed plans with the town to redevelop the site, with plans to convert a warehouse into retail space and build a new three-story office building for new business.
1.30.2015
Sketches for the proposed 100 Plaza building show a 15-story, mixed-use building that would have about 35,000 square feet of street-level retail with 285 apartment units in two tiers at both mid-rise and high-rise levels.
1.30.2015
It is the end of an era for Duke Realty Corp. in the Triangle. For the prospective buyers of Duke Realty's 6.9 million square feet of suburban office buildings in those markets, however, it's a chance to become an instant player in the suburban office market in the U.S.
1.29.2015
Using data from brokerage firms Colliers International NREI came up with the list based on such factors as vacancy and absorption rates, office-using employment growth, the volume of new construction completed and in the works, average cap rates on office acquisitions and current levels of investor interest.
1.29.2015
The Federal Reserve signaled it would keep short-term interest rates near zero at least until midyear, while also setting the stage for tough decisions in the coming weeks about whether it should wait even longer.
1.28.2015
Company representatives announced their plans to much fanfare on Tuesday afternoon, with Gov. Pat McCrory on hand at the the N.C. Museum of History to welcome an upgrade that is a giant leap for the region’s Internet connectivity.
1.28.2015
he nation’s high-end malls are posting record sales, thanks in part to the growing presence of technology retailers that sell pricey goods.
1.23.2015
Earlier this week, Hatem spoke from the lectern of the Raleigh City Council’s chambers, taking public tensions in a growing business community and residential district.
1.23.2015
With all the development in downtown, Raleigh is still slow on new hotel projects. The most recent project to receive approval is a Marriot Residence Inn originally presented 3 years ago.
1.22.2015
In a brand new effort to see its spinout companies succeed, UNC-Chapel Hill will open an angel investment fund of $5 Million with the goal of investing in fledgling companies in need of seed money.
1.17.2015
The changes would affect about three miles of the route, from east of Duke Hospital on Erwin Road through downtown and on to Alston Avenue. Triangle Transit presented the proposed changes although there could be more before the County Commissioners.
1.16.2015
In a speech rich with inspirational phrases such as "embracing freedom," Research Triangle Foundation CEO Bob Geolas officially introduced "The Frontier," a building at 800 Park Offices Drive.
1.15.2015
The new AC Hotel, a 133-room select service property, is expected to open in 2016 next to the new North Hills Tower Two office building that is under construction at the corner of Six Forks and Dartmouth roads. Kane Realty will also be breaking ground soon in a multi-story apartment project next to the AC Hotel.
1.14.2015
Raleigh developer John Kane and the owners of the Dillon Supply Co. in downtown Raleigh have filed the first Raleigh rezoning application for 2015, and it's a big project that's likely to attract a lot of attention throughout the year.
1.13.2015
The City Council in Raleigh plans to add 120 new miles of greenway to the City park system.
1.10.2015
As we begin 2015, the Triangle commercial real estate market is experiencing a level of buzz that may be unparalleled in its history.
1.8.2015
Anticipation is brewing for several big building projects under way and proposed for both downtown Durham and downtown Raleigh in 2015, including the construction start for the 26-story City Center tower in Durham and the opening of the 23-story SkyHouse Raleigh apartment building.
1.7.2015
years ago, Market Plaza and Exchange Plaza were test cases for a new downtown philosophy. Now some say they’re the last remnants of a bad idea.
1.5.2015
tching to get ahead of the pack and learn about the strengths and challenges of North Carolina's economy, hundreds of business leaders converged in the Triangle to listen to experts deliver their opinions at the annual Economic Forecast Forum.
12.30.2014
Raleigh city leaders have delayed a decision until early 2015 to offer up for sale to private developers again a 1.18-acre city-owned site on Hillsborough Street that's already primed for high-rise construction.
12.23.2014
The News & Observer is evaluating real estate proposals from multiple developers interested in its downtown headquarters and could make a decision early next year about whether to sell.
12.22.2014
The 282-unit Crescent Cameron Village apartment community on Oberlin Road in Raleigh has been sold for $76.8 million, according to county deed records filed Friday.
12.20.2014
So far, $2 million has been allotted for the initial phase of revamping the 180,000-square-foot building, of which the roof and canopy awning by the loading dock has recently been replaced.
12.19.2014
Beginning July 1 next year, the Planning Department will be split into a City Planning Department, which will focus on long-range planning and growth for the city, including for neighborhoods, and a Development Services Department, which will focus on development issues specifically. The change came about with input from city employees and local developers.
12.18.2014
The building sale on Dec. 4, as had been earlier projected, has not only set a new price record for a major commercial property in the Triangle region, but it has blown the market's earlier records out of the water.
12.18.2014
For nearly a year, North Raleigh residents have been anxious about whether the Planning Commission and City Council will rezone a plot of land to accommodate a 50,000-square-foot Publix grocery store at Falls of Neuse and Dunn roads. But last week, the Raleigh Planning Commission voted unanimously to allow the Charlotte-based developer its third extension to amend the plan, angering neighbors weary of waiting for a final decision.
12.17.2014
A joint venture partnership between Shiner Capital Partners of Chicago and an affiliate of York Properties in Raleigh on Tuesday closed on a deal to buy the two Powerhouse Square buildings from a partnership that included Duke Energy Progress Inc., the successor company to the Carolina Power & Light Co. utility that built the first structure in the 1900.
12.17.2014
The question of how to pay to repair roadways and transit systems built in the heady era of post-World War II expansion is demanding center stage this spring, with projections that traditional funding can no longer meet the need.
12.15.2014
Ten apartment communities have changed hands for a total of more than $240 million in the Wilmington area in the past two months.
12.15.2014
The City of Raleigh has put out to bid three development plans for reviving Stones Warehouse in East Raleigh.
12.11.2014
Bicycle trails, walkways, new art and a connection to the Capital Area Greenway are some of the new features being added to the re-imagined space, which NCMA Director Larry Wheeler says allows the museum "to be a catalyst of change."
12.11.2014
Nearly 60 percent of U.S. chief financial officers say their firms are not adapting to attract millennial workers, or those under age 35, according to results from the latest Duke University/CFO Magazine Global Business Outlook Survey.
12.10.2014
Its location, however, may be as much a curse as a blessing. The 42-acre site sits just south of the intersection of Glenwood Avenue and Interstate 440, in the traffic-flooded Crabtree Valley.
12.8.2014
Downtown Raleigh’s population has nearly doubled since 2010, and thousands more people will move in by the end of 2015. Its new demographic is younger than 30 and affluent, drawn in large part by the area’s new tech offices.
12.6.2014
A new state emphasis on tackling urban traffic jams is reflected in a 10-year transportation spending plan released Thursday, and that could be good news for commuters who clog Triangle freeways every workday.
12.5.2014
Glenwood Place office park owner Gordon Grubb is ripping apart his old plans for redeveloping the 1970s-era business center at Glenwood Avenue and the I-440 Beltline and starting fresh.
12.3.2014
Brokers who represent only office tenants have argued for years that conflicts exist at firms that represent both landlords and tenants—and that their tenant clients often suffer as a result. Brokers at the so-called full-service firms that represent both have argued back that such potential conflicts aren’t an issue, partly because they typically disclose such relationships to all of their clients.
12.2.2014
Perhaps nothing better illustrates the notion of urban revival in America than the comeback of many downtown districts. Yet if these areas have recovered some of their vigor, they are doing so in a manner that hardly suggests a return to their glory days in the first half of the 20th Century.
11.24.2014
As a surge of new luxury apartment construction begins to slow in the Triangle, the region is about to find out whether developers’ unbridled optimism in the health of the sector will be rewarded.
11.21.2014
Over the past nine months, the company has compiled a team of 90 in Raleigh and Durham.This week, the firm announces a new headquarters that will unite that local headcount: 40,000 square feet in Diamond View I on Mangum Street in Durham.
11.14.2014
In 2011, the City of Raleigh received a $1.1 million grant from the federal Congestion Mitigation and Air Quality Improvement (CMAQ) program to construct at least 27 miles of marked, on-road bicycle facilities. The Office of Transportation Planning announced that the design phase for the project is completed and construction will commence in spring 2015.
11.12.2014
S&P Dow Jones Indices, the publisher responsible for the S&P 500 index, is elevating real-estate companies to a new level of distinction in the investment world. . S&P Dow Jones Indices is creating a new real-estate category that will include 22 real-estate companies.
11.11.2014
Urban Land Magazine report that today's renters and homeowners want to live in bustling neighborhoods with good access to amenities and mass transit. “It’s all about urban,” said Wendy Rowden, managing director for Jonathan Rose Companies, speaking at a session at ULI Fall Meeting.
11.10.2014
Millennial-oriented workspaces – those wide-open, funky zones designed to foster "collaboration" – have become a staple of the tech office landscape. But a new CBRE study of more than 5,500 office workers shows that Millennial employees don't actually work that much differently than their more seasoned colleagues.
11.7.2014
A Charlotte real estate development firm is confirming plans to buy the Hendrick Durham Auto Mall property on Roxboro St with major plans for a high-rise, mixed-use building project – once the dealership moves to its new home in S Durham next spring.
11.6.2014
By most standards, the office market in Washington has lagged behind when compared with those in other major cities. But those factors haven’t kept the prices paid for office buildings from climbing.
11.6.2014
Reforming LOS aka "auto level of service" — or replacing it — has been seen as essential to enabling dense, well-designed infill development to thrive. Advocates for smart growth and streets that accommodate walking, biking and transit have been calling for its repeal for years.
11.4.2014
With a headcount of 78 million, Millennials are the biggest cohort in our nation's history, and collectively have the latent spending power and political clout to radically transform America
11.3.2014
Kane Realty sees the North Hills area growing taller. The developer wants the city to allow for skyscrapers up to 40 stories in the Midtown district, where Kane has tried to foster downtown-style density.
10.31.2014
The office buildings - most of which date to the 1970s - need millions of dollars of maintenance work. McCrory showed a reporter some of the problems in a walking tour of several buildings Thursday.
10.31.2014
When McCrory talks about "the Triangle" lately, he isn't talking about Raleigh, Durham and Chapel Hill. He's talking about Silicon Valley, Boston and New York, and North Carolina.
10.30.2014
Slower Price Appreciation in Commercial Property Makes Business More Difficult for REITS.
10.24.2014
Like other suburbs around the U.S., Long Island is seeing a boomlet in alternatives to the long-treasured single-family home, from rental buildings near transit hubs for young people to multistory condo developments often aimed at empty nesters.
10.23.2014
With downtown awash in new luxury apartment construction, Stanley Martin Homes sees an opportunity in offering would-be renters an alternative.
10.23.2014
The city is again preparing to sell a long-undeveloped lot at 301 Hillsborough St., previously planned as the site of a towering office and hotel.
10.22.2014
With a huge reservoir of recession-stranded grads out there, you'd think that even though the economy is picking up. But while warm bodies aren't in short supply, finding the ambitious, educated employees who will really move your business ahead is never so straightforward.
10.21.2014
The 220,000-square-foot structure, complete with 671 offices, took 27 months and 72 contracting firms to build.
10.21.2014
In 1963, nearly 75% of America’s top 50 companies owned and extracted natural resources1. By 2013, only 20% of top firms were natural resource-based. Today, knowledge-focused industries such as IBM comprise over 50% of America’s top 50 firms. Translation: talent is the new oil.
10.20.2014
Bounded by the Cape Fear River on the east, Smith Creek on the north and railroad lines to the south and west, the historic area is beginning to see signs of new life.
10.20.2014
Frontier Communications is prepping to announce its own fiber plan for Durham – a plan that could hit before AT&T's own fiber expansion.
10.17.2014
Can the same few blocks peacefully host all three parts of the “live, work, play” mantra, even as new apartments and condos stack ever higher?
10.16.2014
Low rates have caused many investors to turn to real estate to achieve the level of returns that they are no longer able to achieve in traditional securities.
10.14.2014
Imagine brightly colored personal rapid transit (PRT) vehicles roller coastering around Raleigh, connecting you from Centennial Campus to downtown in minutes. If all goes to plan, it could be Raleigh's reality in about two years.
10.12.2014
Morgan Property Group's 49,000 SF Publix development proposal has come under fire from N. Raleigh residents concerning zoning and parking issues.
10.10.2014
After a recent sale 9 months ago for $26 million, the Lenovo RTP campus is again on the market, this time for $130 million!
10.9.2014
VitalSource Technologies signs a 20,000 SF lease at newly renovated 100,000 SF office building '227 Fayetteville.'
10.7.2014
A meager recovery at best has hit a select few city types: Tech Capitals, Energy Regions, Rust Belt Revivals. Raleigh counts amoung top 50 recipients.
10.6.2014
Raleigh's rental rate has increased by 2.1% in 2014, resulting in $920 in average monthly rent. The numbers rank Raleigh as the 13th in US for top rents.
10.3.2014
The Gramercy, located at the at the corner of Glenwood Avenue and West North Street, is slated to have 203 rental units, 6,900 square feet of ground floor retail space and a 260-space parking garage.
10.2.2014
From the padded swings in the “library” to the massage chairs in its yet-to-open gym area to a vertical garden that overlooks a water feature, Citrix is making a statement with its new digs.
10.2.2014
Charter Square's management team has pre-leased about 47 percent of the 242,969 square feet of office and retail space in the building, and Andrews says he is hopeful it will be full by the time the building is finished.
10.1.2014
U.S. office rents and occupancies inched higher in the third quarter, as a gradual improvement in the overall economy is translating into a sluggish recovery in the office sector.
9.30.2014
Construction work to begin in November on the new, five-story apartment building planned at 616 Oberlin Road in Raleigh. The 616 Oberlin apartments will be replacing a row of 1960s-era, single-story office buildings that have been emptying out over the past year in anticipation of the property redevelopment.
9.29.2014
Longfield planning to build 1 million SF of office and research space. The properties would target tenant life science and technology companies needing flexible work spaces and research laboratories, along with a mix of retail, restaurants and residential development.
9.25.2014
With commercial-property values soaring and investors gravitating toward what they see as companies with stable, predictable returns, REITs increasingly are pruning their portfolios of assets that fall outside their core area of focus.
9.22.2014
The state’s seasonally adjusted jobless rate increased from 6.5 percent to 6.8 percent, the N.C. Department of Commerce reported Friday. It was the second straight month that the unemployment rate has risen following more than a year marked by a steady decline.
9.22.2014
Grubb Ventures is making plans to tear down all of the buildings at the Palms built in the mid-1960s and redevelop the site with new buildings that will charge higher unit rents.
9.19.2014
For 2013, Raleigh had a GDP of $63 billion, a 6 percent increase from 2012. Durham-Chapel Hill had a GDP of $40 billion, a 2.1 percent increase from 2012, according to data released by the U.S. Department of Commerce.
9.18.2014
Joint Venture partner Cherokee of Raleigh plans to sell the 170,000 SF office buidling, contingent on Citrix honoring their 15 yr lease, but who is willing to take the risk?
Plans to convert the five-story, 1960s-era office building at 1300 St. Mary’s St. in Raleigh into residential condominiums is moving forward with plans to begin deconstruction of the building in October.
9.15.2014
A joint venture partnership led by Charlotte-based Childress Klein Properties acquired the three-story building at 6501 Weston Parkway from a subsidiary of Archon Group, the real estate arm of investment bank Goldman Sachs.
9.05.2014
For total operating expenses, Raleigh ranks as the least expensive market with an average per square foot cost of $5.17, below Salt Lake City at $5.39 per square foot.
9.05.2014
Some see Raleigh as a maturing city that has made huge strides and is as vibrant and urbane a place as ever.
8.29.2014
Durham real estate investor Anthony Dilweg has signed the final paperwork closing a deal to buy a portfolio of 12 office buildings for $89.5 million.
8.27.2014
A new hotel brand, Gradute Hotels, wants to win a devoted following by offering guests a chance to relive the college experience.
8.26.2014
Innovate Raleigh is hosting their third summit this year. The event, which brings community thinkers together, will be held at Marbles Kids Museum September 10th.
8.22.2014
The performance of The Fresh Market’s new stores exceeded expectations in the second-quarter, prompting CEO Craig Carlock to say, ..."we are raising our store growth potential in the Southeastern United States to double our current store base in this region.”
8.20.2014
Instead of living in high-density areas, these millennials reside in apartments and homes distant from the core. Many, perhaps one in three, are still at their parents’ houses.
8.20.2014
Construction projects in cities across the country that stalled under the economic downturn now are getting the green light, an indication that the real-estate recovery is spreading beyond a few urban areas.
8.19.2014
American Underground embarks on an expansion that doubles its downtown Raleigh presence.
8.19.2014
As the legislature continues to hash out crowdfunding regulations in North Carolina, Groundfloor has moved its headquarters to Atlanta, Georgia.
8.18.2014
Drug maker Biogen Idec received approval from the FDA to sell one of its newest multiple sclerosis drugs in the United States and it will manufacture the drug in RTP.
8.18.2014
Forbes has ranked Raleigh as the No. 2 best city for young professionals, behind only Des Moines, Iowa.
8.18.2014
North Carolina State University has hired a Raleigh development company to build a new hybrid office, manufacturing and research facility for The Nonwovens Institute based at Centennial Campus.
8.18.2014
The executive chef and owner of 18 Seaboard, Jason Smith, has renewed his commitment to stay in the Shops at Seaboard Station shopping center in downtown Raleigh for another 10 years.
8.18.2014
Cancer drug developer Heat Biologics moved into a lab space just outside of RTP, planting deeper roots in North Carolina and bringing the research and development team from Miami here as well.
8.14.2014
Those involved with the newly revived Wade Park office park in west Raleigh gathered on Thursday morning to market the start of construction for the new Wade III office building.
8.14.2014
Raleigh hotel developer Summit Hospitality Enterprises is completing its design for a new nine-story Residence Inn by Marriott hotel planned for downtown Raleigh.
8.13.2014
Following recent new capital investments in the Triangle, the Meridian Business Campus in Durham has been sold for $84 million.
8.13.2014
Ansible, a Durham-based IT automation startup with Red Hat roots, is focusing on Bull City with a goal to "...continue to grow aggressively in the Durham area."
8.13.2014
Natty Greene’s Brewing Co. is in the early stages of building a $10 million campus that would house its production facilities, pub or tasting room and a music venue.
8.13.2014
The DHHS office park, located in North Raleigh, is fully leased to the state Department of Health and Human Services and has been sold to a New Jersey investor group for $12.4 million.
A proposed Dominion Resources natural gas pipeline does not include an extension to Raleigh, bypassing some Johnston County homeowners whose properties had been in the project’s originally proposed path.
8.12.2014
More than $300 million in commercial building and apartment sales transactions have ocurred in the past month in the Triangle region.
8.11.2014
Plans to build two new apartment buildings at 1301 Hillsborough and 2811 Hillsborough St. will come before the Raleigh Planning Commission meeting scheduled for Aug 12.
8.10.2014
A new municipal partnership could mean cash incentives for entrepreneurs wanting to set up shop in Raleigh.
8.9.2014
With the first residents now moving into the five-story, 401 Oberlin building across from Cameron Village in Raleigh, the Greenville development company that built it is taking stock of what's next.
8.9.2014
The lawsuit claims the master plan and rezoning is inconsistent with the town’s recently adopted land use plan, the development does not comply with town zoning ordinances and the PDD and master plan contain unenforceable regulations.
8.8.2014
Visitors to North Hills will soon be losing access to the surface parking lot beside the CapTrust Tower as construction crews begin staging for Kane Realty's next big project on site: The 18-story North Hills Tower Two.
8.8.2014
The publication provides perhaps the best summary of US urban area population trends since 1950 and also projects their population through 2030. The UN provides data for the 135 urban areas with an estimated population of at least 300,000 residents in 2014.
8.6.2014
The city of Raleigh just approved $5,000 in seed money to develop a smartphone app to help drivers finding parking spaces in downtown Raleigh.
8.3.2014
The real-estate crash that began in 2008 taught high-end developers of private communities a prodigious lesson: To attract upscale buyers, invest heavily in the clubhouse.
8.3.2014
Raleigh tenants and business owners watch out! If you are looking for space to expand, there may be few choices.
8.1.2014
Big-name banks in the Triangle and across the nation are not just chopping branches, they're building smaller offices, as part of an effort to prune expenses at a time of soft economic growth.
7.31.2014
Are there too many Triangle apartments? It all boils down to submarkets.
7.31.2014
The property sale included a 13-acre future development site where the Raleigh-based real estate investment trust had been planning to build the four-story, 151,887-square-foot 4601 Research Commons building.
7.31.2014
Cary residents, watch out for utilities to rise with new Town Budget plan, but also expect some new transparency and access to development issues with support department creation.
7.30.2014
The $7 million renovation at Moore Square looks to push ahead of schedule and only take a year of construction.
7.30.2014
After a 1st quarter retraction, the US economy showed some staying power and strength, with positive growth over the past six months.
7.28.14
NeoNova, a growing telecom services company in Raleigh, expands into 41 states due to new partnership with Midstate Communications in South Dakota.
The Pennsylvania-based company, Crimson Holdings Corp. is making efforts to buy mineral and gas rights from landowners in Chapel Hill and Durham.
7.24.14
The entrepreneurial hub, called American Underground, is expanding and adding new features to its @Main location downtown, such as a rooftop patio and a lounge area that will overlook Main Street.
7.24.14
If an interview with Cisco Systems CEO John Chambers is to be believed, triangle start ups have a shot at a big buy out.
7.23.14
The Glenwood Avenue office building that was owned by the parent company of Raleigh engineering firm Booth & Associates has been sold again, this time to the owners of the Family Video movie store chain.
7.18.2014
Coming next summer, downtown Cary will open a 33 bedroom '20s style hotel that will use reclaimed materials as well as modern amenities.
7.18.2014
Mertz and Gov. Pat McCrory announce that the global pharmaceutical company will move its operations center from Greensboro and other US locations to Raleigh, a huge win for the Capital City.
7.17.2014
Even with the rise of the biotech industry and the historical tax credits that fund much of their redeveloped office space, we must still be wary that EVERY deal, no matter how "trendy" may not be the BEST deal.
7.17.2014
NYC developers are flipping their 2011 strategies of converting second class office space into condos to now redeveloping alternative type office spaces.
7.16.2014
Flashy amenities? "Free flowing energy" and communal living rooms? The millennials are coming and their waves are now on the shores of hotels!
7.11.2014
Raleigh, take heed of action in NYC where companies are now focusing on "place" and "community" instead of private offices and cubicles. Real estate is more than bricks and mortar, it inspires innovation and productivity.
7.10.2014
The $80 million Stanhope Center project is underway and expected to finish before fall semester next year, adding 300 apartments and 600 parking spaces to Hillsborough Street.
7.10.2014
Raleigh has made national headlines again, this time most recently in President Obama's repoprt highlighting government efforts to boost the economy. Raleigh was awarded regional hub designation for future funding and research development.
7.10.2014
The first ever urgent care facility in downtown Raleigh has just opened its doors, and is only looking to keep expanding. Livability in downtown is on the rise and growing.
7.3.2014
Charlotte firm FMW Real Estate plans another apartment building on Hillsborough St after its 15 unit project success at 2604 Hillsborough. Delivery by summer 2015.
7.3.2014
Landlords nationwide are increasing their leverage in rental rates as vacancies drop to all time lows at shopping malls and retail centers.
FUTURISTIC TRANSIT COMING TO HILLSBOROUGH ST.
7.3.2014
Raleigh's Hillsborough street to receive first ever entrepreneurial light rail system, courtesy of NC State technology! Business just got a little faster in West Raleigh!
7.1.2014
Despite the recent pickup in US job market, employers nationwide are still only occupying 52% of the vacant office space resulting from the 2008 financial crisis. The reason? Rise in collaborative spaces and uneasiness still of US economy.
NATIONAL APARTMENT MARKET SHOWS STAYING POWER
6.24.2014
Nationwide, apartment values have been on a steady incline since the recession lows of 2008. Apartment values are up 14%, rents are up 13% and vacancies are down to 4%! Renting now? You are looking at top mark prices anywhere in the US!
6.23.2014
Raleigh based FMI Capital Advisors releases report for future construction growth. Industries with high potential include: health care, power and energy, office market, multifamily and residential.
GLENWOOD SOUTH'S LINK APARTMENTS TO OPEN SUMMER 2015
6.17.2014
Grubb Properties begins it's newest project, a 204 apartment community at the corner of West and Jones St. The projects adds to the future +1,200 units Glenwood will gain in the next 3-5 years.
CHAPEL HILL REVIVAL AND BIG BETS ON DEVELOPMENT
6.6.2014
Changing image: Chapel Hill slowly shedding historically anti-business perceptions.
NEW LEADER IN TRIANGLE APARTMENT MANAGEMENT ARRIVES
6.5.14
Triangle Renters, look for notification letters to come to most Raleigh apartment buildings. New apartment management group is in town and acquiring space. Expect future fee and rent changes.
NEW APARTMENT CONSTUCTION OUTPACES RENTER DEMAND
5.29.2014
Apartment hunting? Now is the tme to be searching in Raleigh!
BUILDING OWNERS BRACE FOR NEW ORDER: ONE WAY TO MEASURE
5.29.2014
Raleigh Tenants - Look out for a NEW UNIVERSAL standard for measuring your space. You might be paying too much for too little square feet!
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