News

GDP GROWTH The nation’s gross domestic product grew at an annual rate of 2.6% in the third quarter, a reversal from six previous months of decline. Although the Commerce Department data was better than forecast there are expectations the economy will weaken under the strain of high inflation and rising interest rates. There were third-quarter gains in exports, consumer spending, nonresidential fixed investment and local, state and federal government spending. These increases were partly offset…

Since 2013, the rise of e-commerce has caused such an enormous boom in industrial real estate that it has become the preferred asset class of many commercial real estate investors. At the heart of the e-commerce revolution has been Amazon. Even before the pandemic, the firm had around 192 million square feet of warehouse, data center, and distribution space across the U.S. and Canada. Since the pandemic, it has added over 220 million square feet…

In June and July of this year, the Fed raised the interest rate at the fastest pace in forty years: it raised the federal funds rate 75 basis points at each open market committee meetings. Why did it do so, and what do its actions and current economic data say about the economy? This report will investigate and answer these questions, as well as explore the thinking that is guiding the Fed’s policies and explain…

RALEIGH, NC – August 15, 2022 – Business North Carolina announced its 2022 North Carolina Best Employers annual list, naming Lee & Associates Raleigh-Durham a top employer in the medium company division. “Since starting the company in 2018, one of our top principles has been building a strong workplace culture,” said Karah Jennings McConnell, Executive Vice President and Principal of Lee & Associates Raleigh-Durham. “This shared vision has developed a solid team that enjoys creating…

RALEIGH, NC – July 14, 2022 – Jonathon Harriss, who previously served as Research Analyst for Lee & Associates Raleigh-Durham, has joined the firm as a broker. Harriss began working with Lee & Associates as an intern while earning his undergraduate degree at North Carolina State University. As a Research Analyst, Harriss was responsible for compiling and analyzing data for a variety of brokerage-related activities. In his new role as a broker, he will bring…

GDP GROWTH The U.S. economy contracted for the second straight quarter as a tightened monetary policy and high inflation took more steam out of consumer spending and businesses trimmed inventories. The Commerce Department said the nation’s gross domestic product – the value of all goods and services sold – fell by an 0.9% annualized rate in the second quarter. The new reading coupled with the 1.6% first-quarter decrease means the economy has met the common…

INDUSTRIAL OVERVIEW RECORD LOW SUPPLY, RENT GROWTH Demand for industrial space eased slightly from its record-setting growth of last year but remained strong through for the first half of 2022 as annualized rent growth moved into double digits and the overall vacancy rate fell to 3.9%, a record low. Net absorption through June totaled 192.2 million SF. It was the second highest two-quarter total on record and more than the 170 million SF of tenant…

RALEIGH, NC – July 19, 2022 – Lee & Associates Raleigh-Durham, the regional office of the national commercial real estate firm Lee & Associates, announced today that Daniel Cheng has joined the commercial brokerage firm as Vice President. In his new role, Cheng will focus on capital markets and industrial properties. Cheng joins Lee & Associates with more than ten years of experience in commercial real estate, including sales and purchase of investment deals, occupier…

RALEIGH, NC – July 12, 2022 – Brian Farmer, Vice President and Managing Director of Lee & Associates Raleigh-Durham, achieved the SIOR office designation awarded by the Society of Industrial and Office REALTORS, a professional association with more than 3,600 members across the globe. Farmer received the designation after demonstrating a robust transaction and production history; meeting rigorous education requirements; and demonstrating professional ability, competency, ethical conduct, and personal integrity. “We’re very proud of Brian’s…

In the words of Ben Franklin, “In this world nothing can be said to be certain, except death and taxes.” While neither can be avoided, both can be delayed and, with regard to taxes, can be minimized. In preparation for the next tax season, this report will explain how property owners, whether commercial or residential, can mitigate and reduce their tax liability by using a little-known IRS-approved accounting technique called cost segregation. It’s widely known…