Commercial Vacancies to Peak Near Early 2011
Vacancy rates continue to rise in most commercial sectors and are not expected to level out in most markets until the end of this year or early 2011, NAR says. The bright spot is the multifamily sector, which can expect increased demand as the economy creates jobs and new households are formed, likely in the second half of this year. "The office, warehouse, and retail sectors continue to experience the delayed effects of the recession," says NAR Chief Economist Lawrence Yun. "These sectors should see gradual improvement after jobs pick up and create additional demand for space, meaning a broader improvement in commercial real estate is likely in 2011."
Wednesday, May 26, 2010
Friday, May 14, 2010
A Message From Networking Chair, Kerry Saunders
The time is fast approaching for our 5th Annual Joint Networking Event with the proceeds benefiting a local charity. You may recall, last year we were able to give The InterFaith Food Shuttle a check for $10,000 along with lots of canned goods.
This year, our event will be held on Wednesday, September 1st and we are looking at potential location options. The space would need to be approximately 10,000sf, fully air-conditioned, wide-open and centrally located with adequate parking. It does not need to be carpeted, etc. We had approximately 400+ commercial real estate related professionals from TCAR, TCREW, BOMA, IREM, CCIM, NAIOP, and AAREPNC attend last year at 3600 Glenwood Avenue with a theme of SHOW US YOUR SCHOOL SPIRIT. The committee members from each of the organizations have already started meeting to plan an even better event this year!
If you have an building owner interested in exposing his office or flex space to over 400 professionals and pay the Gold Sponsorship level of $5,000, please notify Kim Brennan with TCAR at kimb@tcar.com or Kerry Saunders with TCREW at ksaunders@naicarolantic.com. We will need to make a final decision within the next few weeks.
Thanks for your help!
Kind regards,
Kerry
This year, our event will be held on Wednesday, September 1st and we are looking at potential location options. The space would need to be approximately 10,000sf, fully air-conditioned, wide-open and centrally located with adequate parking. It does not need to be carpeted, etc. We had approximately 400+ commercial real estate related professionals from TCAR, TCREW, BOMA, IREM, CCIM, NAIOP, and AAREPNC attend last year at 3600 Glenwood Avenue with a theme of SHOW US YOUR SCHOOL SPIRIT. The committee members from each of the organizations have already started meeting to plan an even better event this year!
If you have an building owner interested in exposing his office or flex space to over 400 professionals and pay the Gold Sponsorship level of $5,000, please notify Kim Brennan with TCAR at kimb@tcar.com or Kerry Saunders with TCREW at ksaunders@naicarolantic.com. We will need to make a final decision within the next few weeks.
Thanks for your help!
Kind regards,
Kerry
Wednesday, May 12, 2010
NCAR Legislative Meetings
2010 NCAR Legislative Meetings - June 7th through 9th
The 2010 North Carolina Association of REALTORS® Legislative Meetings will be held June 7-9 in Raleigh. This is an important opportunity for REALTORS® from across the state to provide a unified voice for the real estate industry in North Carolina. The Legislative Committee will meet on Tuesday, June 8th from 2 pm -3:30 pm and the Legislative Forum will be earlier in the day from 12:30 pm – 2 pm. The Legislative Reception, from 6 pm – 7:30 pm on Tuesday, will be at the NC Museum of Natural Sciences and is a great opportunity to rub elbows with North Carolina legislators. Prior to the Museum Reception there will be a North Carolina REALTORS® Commercial Alliance mixer. Location and time will be announced at a later date so be looking for that information.
Of course, the highlight of both days is the REALTOR® Day on Wednesday as REALTORS® from across the state walk the halls of the General Assembly and visit with their legislators. This is an opportunity to discuss issues of importance to our industry with your elected officials and we welcome all that are interested to participate.
Please contact the TCAR office at 919-228-2588 if you have any questions.
The 2010 North Carolina Association of REALTORS® Legislative Meetings will be held June 7-9 in Raleigh. This is an important opportunity for REALTORS® from across the state to provide a unified voice for the real estate industry in North Carolina. The Legislative Committee will meet on Tuesday, June 8th from 2 pm -3:30 pm and the Legislative Forum will be earlier in the day from 12:30 pm – 2 pm. The Legislative Reception, from 6 pm – 7:30 pm on Tuesday, will be at the NC Museum of Natural Sciences and is a great opportunity to rub elbows with North Carolina legislators. Prior to the Museum Reception there will be a North Carolina REALTORS® Commercial Alliance mixer. Location and time will be announced at a later date so be looking for that information.
Of course, the highlight of both days is the REALTOR® Day on Wednesday as REALTORS® from across the state walk the halls of the General Assembly and visit with their legislators. This is an opportunity to discuss issues of importance to our industry with your elected officials and we welcome all that are interested to participate.
Please contact the TCAR office at 919-228-2588 if you have any questions.
Monday, May 10, 2010
New NCAR Member Discount, Community Service Workday
Members of the NC Association of REALTORS® could receive a special discount on car insurance from REALTOR® Partner, Nationwide®. Nationwide offers a FREE insurance review for all NC REALTORS®. Take advantage of this opportunity to get a free quote to find out what other discounts you may be eligible for and are not receiving with Nationwide or your current carrier. Click here to learn more and receive a free quote, your discount will be automatically applied: www.ncrealtorsauto.com .
This is just another way you can save money to help pay for your membership. All you need is your NRDS number so give us a yell if you don't know what that is.
Those of you signed up for the Golf Tournament at River Ridge tomorrow, make sure you get your mulligan package at $25 or purchase additional raffle tickets for $10. We're raffling off an Apple i-Pad and a Barnes and Noble Nook. Registration and breakfast starts at 7:30 with a shot gun start at 9:00. All beverages, and lunch are also included in the day.
Registration is now online for the TCAR Community Service Workday scheduled for May 21st from 9-1 at the Raleigh Rescue Mission. Go to www.tcar.com for more information and to sign up. You can tweet us at tcarkim or call the office at 919-228-2588 if you want to volunteer that way as well.
Lastly, if you're interested in the CCIM designation, the CCIM Calculator Class is still taking registrations for their class on May 18th from 9am to noon. The class is being held at 111 Realtor Way in Cary. To register go to www.ncccim.org .
This is just another way you can save money to help pay for your membership. All you need is your NRDS number so give us a yell if you don't know what that is.
Those of you signed up for the Golf Tournament at River Ridge tomorrow, make sure you get your mulligan package at $25 or purchase additional raffle tickets for $10. We're raffling off an Apple i-Pad and a Barnes and Noble Nook. Registration and breakfast starts at 7:30 with a shot gun start at 9:00. All beverages, and lunch are also included in the day.
Registration is now online for the TCAR Community Service Workday scheduled for May 21st from 9-1 at the Raleigh Rescue Mission. Go to www.tcar.com for more information and to sign up. You can tweet us at tcarkim or call the office at 919-228-2588 if you want to volunteer that way as well.
Lastly, if you're interested in the CCIM designation, the CCIM Calculator Class is still taking registrations for their class on May 18th from 9am to noon. The class is being held at 111 Realtor Way in Cary. To register go to www.ncccim.org .
Wednesday, May 5, 2010
The 1031 Tax Free Exchanges Class
For those of you that are trying to get those last courses in before the requirement with the North Carolina Real Estate Commission runs out, you might want to check out the residential boards schedule. On May 13th the Raleigh Regional Association of REALTORS, located at 111 Realtor Way in Cary, has a whole day of Continuing Education that may be of interest.
The first class is the Mandatory Update with Tom Mahlum from 8:30 am to 12:30 pm. Yes, it's a residential class but unless you're going to travel to see Cindy Chandler teach the commercial examples class, that's all that is left. We had our last commercial version back on April 1. Topics included in this class are Agency Disclosure Requirements, selected Property Management Issues, "Due Diligence" in residential transactions, licensing and education issues and North Carolina Real Estate agent safety.
The second class, the four hour elective course, may be of some interest to commercial brokers. It is the 1031 Tax Free Exchanges from 1:30 to 5:30 and is also being taught by Tom Mahlum. This course explores the history, evolution, rules and forms of the strategy used to defer tax liability until a later date. This class has tons of real-life examples and math calculations. Agents will learn the vocabulary and application of tax free exchanges so they are better able to answer client questions.
You can register online at www.rrar.com . You can also contact RRAR at 919-654-5400 or email CaraM@rrar.com with any questions you might have in regards to their continuing education classes.
The first class is the Mandatory Update with Tom Mahlum from 8:30 am to 12:30 pm. Yes, it's a residential class but unless you're going to travel to see Cindy Chandler teach the commercial examples class, that's all that is left. We had our last commercial version back on April 1. Topics included in this class are Agency Disclosure Requirements, selected Property Management Issues, "Due Diligence" in residential transactions, licensing and education issues and North Carolina Real Estate agent safety.
The second class, the four hour elective course, may be of some interest to commercial brokers. It is the 1031 Tax Free Exchanges from 1:30 to 5:30 and is also being taught by Tom Mahlum. This course explores the history, evolution, rules and forms of the strategy used to defer tax liability until a later date. This class has tons of real-life examples and math calculations. Agents will learn the vocabulary and application of tax free exchanges so they are better able to answer client questions.
You can register online at www.rrar.com . You can also contact RRAR at 919-654-5400 or email CaraM@rrar.com with any questions you might have in regards to their continuing education classes.
Monday, May 3, 2010
May: Save the Dates
There are several things going on this month so I thought I might throw out some dates for you to put into your calendar for this month.
First, on Tuesday May 11th is the 15th Annual Commercial Classic at River Ridge Golf Course in Raleigh. The cost is $65 per player with registration and breakfast starting at 7:30AM. You will have the option to spend some time at the driving range to practice your skills prior to tournament. Shotgun start is at 9:00AM.
There is a hole in one grand prize of $25,000, with three other hole in one prizes on the course. There also will be a Closest to the Pin and Longest Drive contest.
Afterwards, there will be a BBQ lunch and drinks will be provided throughout the day. You will have a chance to win great raffle prizes through the purchase of the Mulligan package and raffle tickets! Go to http://www.tcar.com/ or call the office at 919-228-2588 to register.
After you register, please call the number above or email Kim, kimb@tcar.com, with your handicap or average score.
Mulligans packages can be purchased for $25 prior to the event either online, by calling the office or on the tournament day.
The Triangle Community Coalition has a Luncheon Learn at 111 Realtor Way on Thursday May 13th called “You Know the Neuse…You Think You Know Jordan Lake…. Welcome to Falls Lake – The New Frontier in Watershed Protection.”
Water Quality, Land Development, and You: Why you should care about the future of Falls Lake. The State Environmental Management Commission is developing new rules to reduce nutrient loading from development and other sources within the Falls Lake Watershed.
The Commission is proposing far-reaching measures aimed at improving water quality in one of the region’s primary water supply watersheds. This program will provide insight into what owners and developers can do to influence the process and steps to take now to try to protect themselves from , or plan for, the impact of these changes.
Learn why everyone should be concerned about the outcome of this effort and the potential impacts to development, the environment, and regional politics.
Keynote speakers and panelists include:
Steven Levitas, Kilpatrick Stockton LLP Partner
Todd St. John, P.E./ LEED AP, Kimley-Horn and Associates Senior Environmental Engineer
Frank Thomas - HBA of Durham, Orange & Chatham Counties Director of Government Relations
You'll need to call TCC at 919-228-2599 to register at this point. The event is sponsored by Kimley-Horne and Associates.
Tuesday, May 18th, NC-CCIM and TCAR are bringing the CCIM Financial Calculator Class to Raleigh. Class is from 9amto Noon and will be held at 111 Realtor Way in Cary with instructors Sam DiFranco, CCIM and Bo Winn,CCIM.
This course is designed to provide an understanding of financial analysis tools, concepts and calculations necessary for commercial real estate. It will prepare the student for the calculations used in the CCIM Intro course and beyond. Students will be provided with an invaluable excel workbook that they will retain. An introduction to the CCIM designation and the process to obtain it will be presented.
Cost is $25 to all residential/commercial REALTORS®, CCIM designees/candidates, and NCCCIM members. Register at: http://www.nc-ccim.org/ .
Students will need a Laptop loaded with A FULL VERSION (activated) of Microsoft Excel, a basic understanding of NOI, discounting,compounding, and general commercial real estate knowledge. Macs with the most recent version of Excel will NOT be able to run the financial calculator spreadsheet.
Lastly, TCAR is holding their first Community Service Day at the Raleigh Rescue Mission on Friday, May 21st. We will be sorting items at the warehouse and possibly helping with warehouse set-up, sanitizing dishes, chairs, etc., in the kitchen, washing walls and washing vehicles. Register at http://www.tcar.com/ . For more information on the Raleigh Rescue Mission go to http://www.raleighrescue.org/about-us .
Whew! We'll be pretty busy this month. Hope to see everyone there.
First, on Tuesday May 11th is the 15th Annual Commercial Classic at River Ridge Golf Course in Raleigh. The cost is $65 per player with registration and breakfast starting at 7:30AM. You will have the option to spend some time at the driving range to practice your skills prior to tournament. Shotgun start is at 9:00AM.
There is a hole in one grand prize of $25,000, with three other hole in one prizes on the course. There also will be a Closest to the Pin and Longest Drive contest.
Afterwards, there will be a BBQ lunch and drinks will be provided throughout the day. You will have a chance to win great raffle prizes through the purchase of the Mulligan package and raffle tickets! Go to http://www.tcar.com/ or call the office at 919-228-2588 to register.
After you register, please call the number above or email Kim, kimb@tcar.com, with your handicap or average score.
Mulligans packages can be purchased for $25 prior to the event either online, by calling the office or on the tournament day.
The Triangle Community Coalition has a Luncheon Learn at 111 Realtor Way on Thursday May 13th called “You Know the Neuse…You Think You Know Jordan Lake…. Welcome to Falls Lake – The New Frontier in Watershed Protection.”
Water Quality, Land Development, and You: Why you should care about the future of Falls Lake. The State Environmental Management Commission is developing new rules to reduce nutrient loading from development and other sources within the Falls Lake Watershed.
The Commission is proposing far-reaching measures aimed at improving water quality in one of the region’s primary water supply watersheds. This program will provide insight into what owners and developers can do to influence the process and steps to take now to try to protect themselves from , or plan for, the impact of these changes.
Learn why everyone should be concerned about the outcome of this effort and the potential impacts to development, the environment, and regional politics.
Keynote speakers and panelists include:
Steven Levitas, Kilpatrick Stockton LLP Partner
Todd St. John, P.E./ LEED AP, Kimley-Horn and Associates Senior Environmental Engineer
Frank Thomas - HBA of Durham, Orange & Chatham Counties Director of Government Relations
You'll need to call TCC at 919-228-2599 to register at this point. The event is sponsored by Kimley-Horne and Associates.
Tuesday, May 18th, NC-CCIM and TCAR are bringing the CCIM Financial Calculator Class to Raleigh. Class is from 9amto Noon and will be held at 111 Realtor Way in Cary with instructors Sam DiFranco, CCIM and Bo Winn,CCIM.
This course is designed to provide an understanding of financial analysis tools, concepts and calculations necessary for commercial real estate. It will prepare the student for the calculations used in the CCIM Intro course and beyond. Students will be provided with an invaluable excel workbook that they will retain. An introduction to the CCIM designation and the process to obtain it will be presented.
Cost is $25 to all residential/commercial REALTORS®, CCIM designees/candidates, and NCCCIM members. Register at: http://www.nc-ccim.org/ .
Students will need a Laptop loaded with A FULL VERSION (activated) of Microsoft Excel, a basic understanding of NOI, discounting,compounding, and general commercial real estate knowledge. Macs with the most recent version of Excel will NOT be able to run the financial calculator spreadsheet.
Lastly, TCAR is holding their first Community Service Day at the Raleigh Rescue Mission on Friday, May 21st. We will be sorting items at the warehouse and possibly helping with warehouse set-up, sanitizing dishes, chairs, etc., in the kitchen, washing walls and washing vehicles. Register at http://www.tcar.com/ . For more information on the Raleigh Rescue Mission go to http://www.raleighrescue.org/about-us .
Whew! We'll be pretty busy this month. Hope to see everyone there.
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