Which came first, the Ranking or Renewed Activity?

June 3, 2010

Many of you know, Portfolio.com rated Raleigh as the number one U.S. metro with the best quality of life.  Major factors in the decision were the population growth rate (37% total increase since 2000), the large supply of upper level jobs (44% of Raleigh workers hold management or professional positions), a well-educated workforce (41% of the workforce holds a bachelor’s degree), and the abundance of new homes (over half of all houses in the Raleigh area were built within the last 20 years).

Additional positive news was from the Employment Security Commission of NC, indicating overall unemployment for the Triangle area dropped to 8.1%. Orange county reported the best unemployment numbers with 5.9%. Wake and Durham Counties followed close behind with rates of 8% and 7.4%.

What does this mean for the commercial real estate market?  Renewed Activity! 

Jimmy Barnes

Jimmy Barnes, SIOR, President of NAI Carolantic Realty

Just this past month, our brokers handled approximately 140,000 square feet of leases involving office, flex, warehouse and retail space. Many of these transactions were new leases and others were lease renewals in existing locations.  In addition, NAI Carolantic brokers handled several sales transactions with a total value of approximately $7 million. 

Regardless of whether the rankings help our area first, or the renewed activity help generate the rankings, the market is showing signs of recovery.  Please let us know if we can be of help to you.

Comments Off | Durham, Jimmy Barnes, Raleigh, Research Triangle Park, Triangle Real Estate Market | Permalink
Posted by Kerry Saunders

State of the Research Triangle Region

May 27, 2010

Moss Withers, Broker, NAI Carolantic Realty

I was fortunate to attend the annual “State of the Research Triangle Region” presentation this morning at the Sheraton Imperial.  Approximately 800 of the area’s leading business executives attended the breakfast as a great way to network and understand what has taken place over the past year in the Triangle corporate community.  Charles Hayes, President and CEO of the Research Triangle Regional Partnership, gave the audience an in-depth look at the region’s economic health and competitive position for the past year.  He also discussed areas of focus for the community moving forward. 

“Despite the one-year employment decline, the region posted a net employment gain of 50,000 over the past five years, with the fastest-growing jobs in healthcare, professional and technical services and educational services.  These job categories reflect the strength and growth of the region’s world-class life sciences and technology clusters, particularly pharmaceuticals and advanced medical care, as well as its major healthcare facilities and many institutions of higher learning,” said Hayes.  “The new year has brought signs that economic recovery is underway.  Through the first quarter of 2010, companies in life sciences, technology, defense and other industries have announced more than $65 million in investments for projects that will create another 900 jobs over the next few years.”

NAI Carolantic Realty was pleased to provide RTRP with the latest commercial real estate statistical information as it relates to vacancy, absorption, rental rates, and new construction for the office, multipurpose and shopping center categories.  As brokers, we often use the information RTRP has organized and provided as another marketing and analytical tool for both current and potential clients. 

For additional information on the presentation this morning, contact the Research Triangle Regional Partnership office at 919-840-7372 or visit them on the web at www.researchtriangle.org.  If we can be of assistance in analyzing your real estate position, please give us a call at 919.832.0594, or visit us on the web at www.naicarolantic.com.

Comments Off | Market Information, Moss Withers, Raleigh, Research Triangle Park, Research Triangle Regional Partnership, State of the Region, Triangle Real Estate Market | Permalink
Posted by Kerry Saunders

Gaining Traction in Today’s Real Estate Market

May 13, 2010

The NAI Carolantic brokers recently attended a two-day regional NAI meeting to discuss current economic trends and additional ways to assist our clients.  The meeting, held in Charlotte, was very productive and attended by over 80 NAI brokers from North Carolina, South Carolina, Tennessee and some from the DC area as well as New York.  In networking with these NAI brokers, the general consensus was that there are some sectors of the market that appear to be trying to gain some traction.  Most of this activity is user driven, and for properties that are both well located and reasonably priced.

Mark Everett, Broker, NAI Carolantic Realty

This is consistent with what I see in the Triangle market and includes various types of owner occupied buildings. I believe activity has picked up and the market is looking for ways to be re-energized.  If you have the need or desire to own your building, you can still get a deal done.  Financing is available for owner occupied real estate including traditional bank financing as well as SBA loans.  Couple that with available land parcels and favorable interest rates and it is a great time to purchase or build your own facility.  Give me a call and let’s see if I can help you ‘gain some traction’ in handling your real estate needs.

Comments Off | Durham, Mark Everett, Owner Occupied Real Estate, Raleigh, Research Triangle Park, Triangle Real Estate Market, Uncategorized | Permalink
Posted by Kerry Saunders

The US and North Carolina Continue Toward Economic Recovery

May 4, 2010
Jimmy Barnes

Jimmy Barnes, SIOR, President of NAI Carolantic Realty

According to the Washington Daily News, North Carolina unemployment dropped from roughly 535,000 in February to about 496,000 in March. Promising news as well from the News and Observer, which said, “The broad-based household survey of jobs shows statewide employment up for four consecutive months (December to March) and increasing at an average monthly rate almost twice as fast as in the nation.”  AW North Carolina is just one of many companies contributing to this advantage. The transmission supplier for Toyota is investing $100 million and adding 360 jobs at its Durham plant according to SYNC newsletter.

Nationally, Wells Fargo’s Weekly Economic & Financial Commentary reports that real GDP grew at a 3.2% annual rate during the first quarter of 2010 and that consumer confidence was up 5.6 points in April.

Our NAI Carolantic brokers report a continued increase in activity with deals actually being closed.  After a slow start to the year, we have had over 20 leases signed and several sales transactions in just the last 45 days  Our listings, not unexpectedly, have increased 35% and clients are asking us for assistance more than ever.  Please give us a call if we can be of help to you in analyzing your real estate position:  919-832-0594.

Comments Off | Jimmy Barnes, NC, Raleigh, Recovery, Triangle Real Estate Market, Uncategorized | Permalink
Posted by Kerry Saunders

Turning the Corner

April 21, 2010

Jim Adams, Broker, NAI Carolantic, jadams@naicarolantic.com

As NAI Carolantic continues its commitment to tracking the information that will best help its clients make informed business decisions, positive signs are emerging that bode well for the future of the market on micro and macro levels.

In the April 19th issue of Business Week, staff writer Mike Dorning contradicted the polls with hard evidence of a national economic recovery.  Among other things Dorning mentioned that manufacturing has been recovering for eight straight months, and that economists are revising GDP growth forecasts for 2010 from 2.1% to 3%.  While recovery remains slow without a new driver for the economy, it seems that in spite of the recession woes and psychology, the indicators for a favorable return on a national level are present.

Locally, our region continues to receive positive national press with high rankings in various studies.  Raleigh-Cary was recently named as the ‘Third Best Place in the Country for Business and Careers’ by Forbes.com and Durham metro ranked 23rd.  The study ranked the 200 largest metropolitan statistical areas on cost of doing business; educational attainment; and economic, income, job and population growth. 

There are also tangible signs that the Triangle economy is on the rebound.  While liquidity from debt sources remains in short supply and underwriting stringent, at NAI Carolantic we are working with many well capitalized buyers that are seeking buy opportunities either with no debt or with a low debt to cost ratio.  As the economy continues to improve, banks and other lending institutions predict that current lending restraints will ease…a process that appears to already be underway.

Comments Off | Cary, Jim Adams, Raleigh, Recovery, Triangle Real Estate Market | Permalink
Posted by Kerry Saunders

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