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…
PROPERTY CLOSINGS – JANUARY 2022
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…
Q4 2021 Economic Reports
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,…
2021 Q4 North America Market Report
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…
Property Closings – December 2021
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…
Thompson Thrift Retail Group Announces $34 Million Publix-Anchored Mixed-Use Property Outside Raleigh
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…
GiGi’s Playhouse expanding mission and footprint at The Walker
RALEIGH – January 11, 2022 – GiGi’s Playhouse, a nonprofit Down syndrome achievement center, plans to grow its Triangle presence at The Walker, a new mixed-use development under construction in downtown Cary, North Carolina. GiGi’s Playhouse, part of a national network, opened its Raleigh center in 2016 and now serves more than 860 families and engages over 350 active volunteers. Its programs, offered at no charge to all ages in-person and virtual, include one-on-one literacy…
Charles “Chip” Lanier Joins Lee & Associates Raleigh-Durham
RALEIGH, NC – Dec. 7, 2021 – Lee & Associates Raleigh-Durham, the regional office of the national commercial real estate firm Lee & Associates, announced today that Charles “Chip” Lanier has joined the commercial brokerage firm as vice president in the company’s retail team. In his new role, Lanier will focus on retail leasing and development opportunities. Lanier has been a fixture in the Triangle’s commercial real estate industry for more than 30 years. He…
Morrisville office park lands two new leases despite soft market
By Caleb Harshberger – Staff Writer, Triangle Business Journal December 3, 2021 A Morrisville office park has landed a pair of new office leases, filling important spaces as the office markets in the Triangle and around the country remain soft. Earlier this month, IXL Learning Inc. and CTI Towers signed new leases in Perimeter Park. IXL already has offices in the park but signed on to a new and expanded space, moving its regional headquarters…
Supply Chain Issues: A Critical Analysis
Evidence of the supply chain crisis we are facing is hard to miss. Right now, off the coast of Los Angeles, over 80 large container ships are sitting idle waiting to dock and offload their cargo. The ramifications of this and other bottlenecks in our global supply chain system have caused a backlog of nearly $3 billion in goods that have been ordered but not yet shipped, according to U.S. Census data. What caused this…