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|NAI Carolantic's 2016 Commercial Real Estate Conference App for iPad and iPhone is now available.|
NAI Carolantic Has Moved...
NAI Carolantic Moves to New High-Tech Offices
NAI Carolantic has relocated their corporate headquarters to 5121 Kingdom Way, Ste. 200 in Raleigh near the PNC Arena. Designed from the ground up, the space was built to incorporate the latest, state-of-the-art technology to help meet the needs of clients, brokers and staff. "To accomplish our goals and stay on the cutting edge, we needed to make a location change and design our own space," said Steve Stroud, Chairman of NAI Carolantic. "The benefits of our workplace design include improved employee engagement, performance and collaboration."
Nearly 1,800 business, government and community leaders, including Governor Pat McCrory, gathered inside Raleigh’s PNC Arena last night to seek and share answers about the health and direction of the local economy and to hear what’s likely in store for the coming year.
The event was the 31st Annual Triangle Commercial Real Estate Conference, hosted by NAI Carolantic Realty. Considered the authoritative “state of the market” report on the Triangle’s real estate sector, findings presented at the conference also provide an important bellwether of the region’s general economic health.
“If you want to know what businesses are going to do in the coming year, activity in commercial real estate is the most credible indicator of their intentions, and that of investors,” notes Jimmy Barnes, President of NAI Carolantic, “Will they expand? Retrench? Hold the course? The commercial real estate sector tells you months ahead of anything else.”
NAI Carolantic’s survey and analysis showed that, in a market of over 265 million square feet of office, multipurpose and shopping center space, approximately 20 million square feet remained vacant at year-end. “Office market vacancy dropped three points from 2014 to end 2015 at a healthy 10%. The Multipurpose market also saw a drop in vacancy from 11% in 2014 to 8% in 2015. Shopping Center vacancy dropped one point to a healthy low of 3% with approximately 850,000 square feet under construction. Overall, 6.1 million square feet were absorbed. Approximately 3.3 million square feet of office, multipurpose and shopping center space are now under construction for the first quarter of 2016. The apartment market continues its robust growth, but we do not anticipate absorption to keep up with supply forcing vacancy to increase slightly to 8% by the end of 2016,” said Barnes.
NAI Carolantic Brokers Jimmy Barnes, SIOR, and Whit Brown recently handled the sale of the historic Beaufort Inn. The 18,000+ square foot Inn, located in Beaufort, North Carolina, has 40 rooms, a spa, and 12 boat slips. The Inn was owned, developed and operated by Bruce and Katie Etheridge for almost 30 years. .
NAI Carolantic is pleased to announce that former NHL hockey player, Tim Brent will be joining our firm in July as a Commercial Broker. “Tim has a proven track record of leadership and incredible discipline, which are essentials for successfully transitioning into the brokerage business,” said Steve Stroud, SIOR, Chairman of NAI Carolantic. “I’ve seen first-hand his work ethic and his commitment to helping people achieve their goals. We are very happy that he’s decided to be part of our brokerage team.”
Mr. Brent’s decision to join NAI Carolantic reflects his longstanding interest in commercial real estate and is the culmination of his involvement in various real estate investments over the past several years, including an investment/land transaction through NAI Carolantic that left him pleased and impressed by the team’s knowledge and professionalism.
“My wife and I felt the time was right for me to retire from hockey and fully pursue my passion for commercial real estate,” said Brent. Noting that he looked forward to joining the NAI team, he added, “We have already been made to feel a part of the NAI Carolantic family.” .
First Quarter 2016, The Linneman Letter: Who is Right - Wall Street or Main Street?
In our continuing effort to keep our clients informed of the latest market conditions and how it could impact your business decisions, we are providing the First Quarter 2016 condensed Linneman Letter. The Linneman Letter is a report written by our NAI Global Economist, Dr. Peter Linneman formerly at the Wharton School of Business, the University of Pennsylvania. .
Please let us know if we can be of service to you.
(Previous can be found under Research.)
Moss Withers Receives TCREW Best Professional Service Award
Triangle Commercial Real Estate Women (TCREW) presented Moss Withers, MBA with TCREW’s Best Professional Service Award at their 18th Annual Champion Awards held recently at Prestonwood Country Club in Cary.
The award is presented to an individual who provides the best professional commercial real estate service, with consideration for industry knowledge, leadership ability, negotiating skills, work ethic and creativity. Over 425 business leaders attended the event. .
Steve Stroud, SIOR, Named a CEO of the Year
Steve Stroud, SIOR, founder and Chairman of NAI Carolantic Realty was named as one of twenty CEO’s of the Year for the Triangle region on April 22nd. According to Triangle Business Journal’s publisher, Jason Christie, the unique element of the award program is that neither a judging panel nor any of the staff members are involved in the selection of the winners. Fellow CEOs and organization heads from around the Triangle vote to select their picks, after which, votes are tallied and the final winners are announced. .
Ed Brown, SIOR, CCIM Named Realtor of the Year for the Triangle Region
Ed Brown, SIOR, CCIM
At the 2016 Triangle Commercial Association of Realtor’s Annual Frontier Awards held on March 1st, Ed Brown, SIOR, CCIM, Broker with NAI Carolantic Realty was named the 2015 Realtor of the Year in front of a crowd of over 150 professional brokers and guests. This is the highest honor given by the association and indicates the recipient has the highest principles, dedication to the Code of Ethics of the Association and most importantly, has the principals of good real estate practice. This person must also have served the association, have business accomplishments in the industry that include good business conduct, service to clients and creativity in marketing properties. Read More >
NAI Carolantic’s Executive Presented with TCAR’s President’s Circle Award
Kerry Saunders, Executive Vice President and COO of NAI Carolantic received the President’s Circle Award during the Triangle Commercial Association of Realtors (TCAR) Frontier Award ceremony. This award is designed to give a special “Thanks” to a TCAR member for their continuing success and involvement in the industry and community. It is also intended to be a vehicle to convey to the public, the proud tradition of TCAR members’ contributions to the betterment of business and the community. Ms. Saunders was the 2012 TCAR President. Learn more andout kerry >
NAI Carolantic Brokers Receive Prestigious TCAR Frontier Awards
Nine NAI Carolantic brokers were presented with awards at the 2016 Triangle Commercial Association of Realtor’s Annual President’s Frontier Awards breakfast. The TCAR event, held at Carolina Country Club in Raleigh, was established to recognize the diligent work and efforts of members as well as those bringing about change in the community. Winners included Jimmy Barnes, SIOR, Ed Brown, SIOR, CCIM, Scott Hadley, Jake Plotkin, CCIM, John Hibbits, Moss Withers, MBA, Robin Roseberry Anders, SIOR, Hunter Stewart, MBA and Joaquin Canals. Read More >