Closed Transactions for November 2020 Sales 131-191 Brothers Rd., Southern Pines, NC: Industrial/Flex space totaling 120,000 SF on 13 acres. Russell Stewart, JD, Broker, represented the buyer in the transaction. Wendell Blvd. & Hanor Lane, Wendell, NC: Land totaling 1.7 acres. Scott Hadley, Vice President, and Hunter Stewart, MBA, Senior Director represented the seller in the transaction. 450 Whitehead Rd., Fayetteville, NC: Industrial/Flex space totaling 6,000 SF. Will Judy, Broker, represented the landlord in the…
1031 Exchanges: Their Benefits & A Defense of Their Use
Since 1921, section 1031 exchanges have been an important part of the tax code. They have served as a vital and dependable stimulant not only to the real estate market but to the broader economy, yet nearly every election cycle there are always attempts to repeal them or restrict their use either through legislative actions or agency rule changes. These attempts stem from, among other things, suspicious attitudes about tax incentives for capital holders, negative…
Stone Alexander Joins as Broker
LEE & ASSOCIATES WELCOMES STONE ALEXANDER November 18, 2020 (Raleigh, NC) – While earning his undergraduate degree at North Carolina State University, Stone Alexander began his professional career interning for Deloitte Tax, LLP. After completing his master’s degree in accounting from North Carolina State University as well, Stone began working full-time for Deloitte Tax, LLP in Charlotte, North Carolina while pursuing his CPA certification. During his time there, he focused on international individual tax…
Property Closings – October 2020
RALEIGH-DURHAM, NC (November 18, 2020) – Lee & Associates, the largest broker-owned commercial real estate firm in the nation, announced today it recently completed the following transactions: Sales: Green Level W. Rd., Cary, NC: Land totaling 34 acres. Moss Withers, SIOR, MBA, President & Principal, and Karah Jennings McConnell, Principal & Executive Vice President represented the seller in the transaction. 1107 Broad St., Edenton, NC: Retail Investment building totaling 6,000sf on 0.79 acres. Jake Plotkin,…
The Impact of Legislation on the Multifamily Sector
Beginning when the first shelter in place orders were implemented in March of this year, Congress, the Parliament of Canada, and multiple state and provincial legislatures enacted various legislative acts to mitigate the ill-effects of the lockdown. These pieces of legislation bear directly on the multifamily sector. With the protection of renters chief in mind, these legislative acts’ primary purpose has been to shield lessees from evictions. On a secondary basis, these legislative measures have…
Raleigh brokerage firm expands services with latest hire
By Caleb Harshberger – Staff Writer, Triangle Business Journal October 26, 2020, 3:04pm EDT Raleigh brokerage firm Lee & Associates has announced its latest expansion with a new hire. This month, the firm announced it has brought on entitlements and development specialist Dan Koeller as its newest broker. Koeller will specialize in land, acquisition and disposition and will open up the ability for Lee & Associates to assist on property entitlements and development management, according…
Local developer plans commercial park in Fuquay-Varina
By Caleb Harshberger – Staff Writer, Triangle Business Journal October 19, 2020, 12:30pm EDT A Fuquay-Varina developer has plans to bring a new professional park to town calling for a collection of commercial buildings north of downtown. Earlier this year, an LLC managed by area dentist Don Lane filed plans to develop the Lane Professional Park, featuring 61,780 square feet of commercial space across six buildings in Fuquay-Varina. The project is situated on 7.4 acres…
LEE & ASSOCIATES ADDS VETERAN DEVELOPMENT AND ENTITLEMENT SPECIALIST
LEE & ASSOCIATES ADDS VETERAN DEVELOPMENT AND ENTITLEMENT SPECIALIST October 16, 2020 (Raleigh, NC) – Lee & Associates Raleigh-Durham, the regional office of the national commercial real estate firm Lee & Associates, announced today, Dan Koeller, formerly with JJM Consulting, has joined the firm as broker. Mr. Koeller will specialize in land, acquisition & dispostition, additionally providing the company with the ability to assist on property entitlements and development management, increasing property value and…
Fitness Tenants in the Era of COVID-19
Before the pandemic, the fitness industry was booming. They were one of the best tenants for retail centers and were among the top five retailer users in Southern California.[1] In 2018, the U.S. health club industry revenue totaled $32.3 billion, and more than 71.5 million U.S. consumers used health clubs, an all-time high.[2] The number of fitness centers in the U.S. increased by 24 percent since 2010 to 111,055 locations, and the figure was expected…