We can’t say it enough…the Raleigh/Durham region is one of the best places in the US to live, work and play. This was reconfirmed this week when I attended the Greater Raleigh Chamber of Commerce Board meeting and heard the latest Economic Development report. From May 15-September 15, Wake County Economic Development has assigned 12 new projects, had 7 client visits and had 104 existing industry interactions. Twenty projects are actively being worked on by staff and will represent a potential total of $305,625,000 in new investment and 3,293 new jobs. There have also been 18 companies who have relocated or expanded in the area since May. They include: BB&T, Deere & Co., Kyma Technologies, Inc., Rex Healthcare, WakeMed Health & Hospitals, Inspire Pharmaceuticals, and Pensk Truck Leasing Co. These 18 companies account for 267 new jobs and over $167.9 million in new investment.
Despite the sluggish commercial real estate market, we do see some activity. One of our brokers, Scott Hadley, just completed a large lease renewal and expansion for FMI. Another broker, Gray Creech, closed on two office condos, and I recently completed at 25,000sf lease with BeavEx in RTP. We continue to work with several clients in locating new sites for their operations. In addition, we are helping several banks dispose of excess real estate with closings occurring in North and South Carolina.
Let us know if we can be of assistance to you. As the song goes, “Nothing could be finer than to be in Carolina!”
NOTE: Be sure to mark your calendar for our 26th Annual Triangle Commercial Real Estate Conference scheduled for January 12, 2011 at the RBC Center in Raleigh. This invitation-only event continues to be one of the most unique gatherings of Triangle business and community leaders.