2017 NAIOP NC Awards Deadline is February 15

2017 NAIOP North Carolina Awards
Deadline to submit is approaching –  February 15, 2017, COB

We are now accepting nominations for the following awards whose winners will be announced at the NAIOP NC Statewide Meeting dinner on March 30:

Award submissions are accepted online (click the links above for more information) or to info@naioptriad.org. Awards will be given during dinner at the conference and winners will be recognized in publications across the state.

APPLY FOR AWARDS

Too Much Parking?

Several Canadian cities are wrestling with parking problems. These cities are not concerned about a lack of spaces, but rather outdated zoning policies that require more parking than is really needed.

For example, a video produced by the city of Ottawa notes, “It’s not the 1960s anymore: parking rules need to grow up.” Hamilton, Ontario, (near Toronto) is considering a proposal that would slash the number of parking spaces required and even impose a maximum number of spaces. Some Toronto suburbs are taking similar steps.

Magazine Corporate Knights writes that “unique neighbourhoods like Ottawa’s Hintonburg and the Glebe or Toronto’s Kensington Market and Yorkville would never be built today. These special places were developed before current parking standards came into effect.” If cities ease up on parking space requirements, it could encourage economic growth in urban areas.

Will 2017 Force Real Estate into a Bidding War for Talent?

If the U.S. economy heats up to the degree this industry-wide survey predicts, real estate’s need for more qualified talent could be a driving force in increasing compensation even higher in 2017. Read takeaways from the valuable study on the Market Share blog.

From Offices to Live/Work Units

By: Adrienne Schmitz

A developer has begun creating value from obsolete office buildings by converting them into units that tenants can use as offices or apartments — or as live/work suites.

DEVELOPER Conrad Cafritz saw the local inventory of obsolete office space in the Washington, D.C., area growing and recognized an opportunity. His firm, Cafritz Interests LLC, created e-lofts, a new concept for managing commercial real estate and a way to create value from these obsolete, often vacant buildings. E-lofts is a division of Novus Residences, a subsidiary of Cafritz Interests.

Unlike most buildings that are designated for either residents or workers, the e-lofts concept offers finished units that can be used however the tenant likes: for living space, for offices or for both.  Tenants can even change the use after they rent a unit. The idea is to maintain flexibility to address an ever-changing market.

E-lofts’ first project is the conversion of a 12-story building located in Alexandria, Virginia, that had been vacant for about eight years. Until 2007, it held offices for the U.S. Department of the Army. Once vacated, the building was sold for $156 million. In 2015, e-lofts paid $20 million for the property.

Click here to read the full article.

5 Indicators to Watch for Where the Trump Economy is Going

With a new administration moving into the White House, here are five key indicators to watch to help you understand how the economy is faring, according to U.S. News & World Report.

  1. Rate of net non-residential fixed investment. It is good news if net investment is expanding.
  2. Capital flows. It is good for the economy if capital is flowing into the U.S. and bad if it is flowing out, according to the article.
  3. Yield curve. The difference between yields on the 2- and 10-year U.S. Treasury notes is a good predictor of good times ahead or a recession. If the 2-year is higher than the 10-year, that is an early warning sign of a recession. “The 10-year T-note is yielding 2.42 percent and the 2-year is yielding 1.21 percent. That means the current difference between the yields of the two bonds is a positive 1.21 percent. Which means we are in the safe zone, for now,” according to the article.
  4. Defaults. The default rate reflects the health of the economy. If defaults start to climb, it is a sign of trouble ahead for the economy.
  5. The strength of the U.S. dollar. As the dollar increases in strength against other currencies, it becomes harder for countries and individuals in those countries who have taken dollar-denominated loans to pay them back, according to the article.

Beacon Partners makes big South End push

By

Beacon Partners has big plans for a 3.5-acre site at South Tryon and Bland streets that now houses an HD Supply warehouse, with two 8-story office buildings projected at the location across from the venerable Tavern on the Tracks and Gin Mill pubs. The RailYard project is slated to total 320,000 square feet of space mostly for offices, along with 30,000 square feet of shops and restaurants. Four stories of small “loft-style micro units” also are planned. Charlotte-based Beacon Partners bought the site in 2015 for $10.1 million, according to published reports.

Kristy Venning and Charlie Swanson are leasing the space, with construction expected to start this summer. The architect is RBA Group and Centro Cityworks. RBA Principal Chris Byers started his firm in 2009.

Beacon Partners has invested more than $1.2 billion in real estate, making it among the state’s largest developers. Pete Lash is managing partner; Gregg Sandreuter, Jon Morris and Mike Harrell are partners. Its projects include the nearly completed 500 East Morehead building, which has inked leases with Chicago Bridge & Iron Co., and Elliott Davis Decosimo, an accounting firm.

Click here to view the DevelopCLT article.

How will Demand for Healthier Workplaces Impact Your Business?

By Julie D. Stern

“Workplaces that enhance employee health and well-being also enhance productivity—and employers’ financial bottom lines,” began Ed Klimek’s article, “Building for Wellness,” in the summer 2016 issue of Development magazine. Klimek described how the concept of “wellness” today is where “sustainability” was 15 years ago. But new research — the result of a recently announced collaboration between Delos and IBM — may soon offer fresh insights into the value of focusing on wellness when building workplaces and other indoor environments.

Delos, which pioneered the WELL Building Standard, has partnered with a variety of companies — including CBRE Group Inc., Chinese real estate company Sino-Ocean Land, Australia-based international real estate firm Lendlease and construction services provider Structure Tone — to increase awareness of the value of building for wellness and to expand adoption of the standard globally.

Delos and the Mayo Clinic have also collaborated to create the Well Living Lab, “a research facility dedicated to understanding the interaction between health and well-being and indoor environments through human-centered research. The purpose of the lab is to generate evidence-based information … that can be used in practical ways to create healthier spaces in which to live, work and play.”  It simulates a wide range of indoor environments, including offices, that allow scientists and other researchers to study the impacts of lighting, temperature, humidity, acoustics, air quality and more.

Read more here: http://blog.naiop.org/2016/12/building-healthier-workplaces/