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There is a widespread myth that needs to be questioned and confronted, and it goes something like this: First came Amazon, and then came COVID-19, and both killed retail. However widespread, this view of the retail market is inaccurate and incomplete. To be sure, parts of the retail sector are experiencing challenging disruptions, but other aspects of the industry are expanding and thriving. The state of the retail market is a mixed picture of disruption,…

RALEIGH, NC – March 28, 2022 – Michelle Rhino, Chief Operating Officer of Lee & Associates Raleigh-Durham, was honored as a recipient of the Triangle Business Journal’s 2022 Women in Business Awards at a ceremony held on March 24, 2022. The Women in Business Awards program recognizes Triangle women who have proven to be dynamic and outstanding leaders with established track records of significant accomplishments in business and community service. More than 200 women were…

By Caleb Harshberger Staff Writer, Triangle Business Journal March 2, 2022 Nearly a year after announcing its massive Triangle hub, Apple is looking for as much as 150,000 square feet of additional temporary space in Cary, according to some executives in the commercial real estate industry in the Triangle. That’s on top of the MetLife space in Cary the tech giant is already planning to renovate. Apple (Nasdaq: AAPL) declined to comment for this story….

By Caleb Harshberger Staff Writer, Triangle Business Journal February 23, 2022 For years, longtime Cary developers George Jordan III and his nephew Jordan Gussenhoven have been eyeing the corner of W. Chatham Street and S. Harrison Ave. with plans for something big. Now plans for a new mixed-use development in the heart of downtown Cary appear to be moving forward. Earlier this year, Northwoods Associates LLC and NorthView Partners filed site plans for the Northwoods…

By Evan Hoopfer Staff Writer, Triangle Business Journal February 13, 2022 The first flex industrial space within the massive Chatham Park development traded hands last month. COC Real Estate Co. purchased 16.58 acres within the park for over $2.4 million, according to a deed filed Jan. 25. County records also show on the same day a memorandum of option to purchase was filed for two adjacent tracts totaling 21.6 acres. The seller is an LLC…

LEASES ADDRESS CITY, STATE TYPE REPRESENTATION ACRES/SF BROKER(S) 110 Roche Dr, Ste 3 Durham, NC Industrial Tenant 40,950 Moss Withers Karah Jennings McConnell 11011 Longistics Way Ste 200A  Raleigh, NC Industrial Landlord 2,000 Brian Farmer  11011 Longistics Way, Ste 200 Raleigh, NC Industrial Landlord 3,460 Brian Farmer 1111 Neville St Durham, NC Industrial Tenant 3,143 Marlene Spritzer 11373-11407 US 70 Business W – Clayton Plaza Clayton, NC Retail Landlord 1,400 & 2,000 Carla Trepper 1148…

GDP GROWTH The nation’s gross domestic product grew by 5.7% in 2021, the fastest rate since 1984. The Commerce Department also reported in its advance estimate released in late January that growth accelerated in the fourth quarter at an annualized rate of 6.9%, following a 2.3% reading for the third quarter. The increase reflected gains in private inventory investment, exports, personal consumption expenditures, and nonresidential fixed investment that were partly offset by declines in federal,…

INDUSTRIAL OVERVIEW DEMAND FOR LOGISTICS SPACE SOARS Fueled by an unprecedented boom in household spending during the pandemic, demand for warehouse-and-distribution space soared 147% in 2021, driving down the vacancy rate to a record 4.3%. Net absorption totaled 503.4 million SF in 2021 compared to 203.7 million SF for 2020. Fourth-quarter 2021 demand totaled 136.9 million SF, down from 157.9 million SF in Q3 but up 38% from the 99.2 million SF of net absorption…

LEASES ADDRESS CITY, STATE TYPE REPRESENTATION ACRES/SF BROKER(S) 2840 Plaza Place, Ste 203 Raleigh, NC Office Landlord 1,487 Brian Farmer 7810 Target Circle – Shoppes at Poyner Place Raleigh, NC Retail Landlord 2,320 Christina Coffey Jenn Olevitch-Roberson 7239 ACC Blvd Ste 105 & 107 Raleigh, NC Industrial/Flex Landlord 8,933 Dee Creech Osborne 235 James Jackson Ave Cary, NC Flex Warehouse Landlord 4,500 Dee Creech Osborne 7231 ACC Blvd, Suite 107 Raleigh, NC Flex Warehouse Landlord…

  RALEIGH, N.C. – January 13, 2022 – Thompson Thrift Retail Group, a wholly-owned company of Indianapolis-based Thompson Thrift, is developing Marketplace at Ellis Crossing, a 30-acre mixed-use property located in the Research Triangle Park area of Raleigh-Durham. Publix Super Markets, the largest and fastest-growing employee-owned supermarket chain in the United States, will anchor the location. Thompson Thrift is targeting construction to be completed in the first phase of the development in the fourth quarter…