GDP GROWTH: TRENDING IN Q4 2020 The U.S. economy improved in the fourth quarter with the nation’s gross domestic product rising at a 4% annualized rate. The Q4 report from the Commerce Department follows a record quarterly gain in the third quarter. But despite the strong second half, the U.S. economy contracted 3.5% in 2020. It was the first annual drop since the financial crisis and the most since 1946. There is wide agreement that…
Property Closings January 2021
Closed Transactions for January 2021 Sales 0 Northern Ranches Road, Sanford, NC: Land totaling 26 acres. Moss Withers, SIOR, MBA, President & Principal, Karah Jennings McConnell, Principal & Executive Vice President, and Scott Hadley, Vice President, represented both the buyer and seller in the transaction. 2716 Old Wrightsboro Road, Wilmington, NC: Industrial/Flex space totaling 3,600 SF. Moss Withers, SIOR, MBA, President & Principal, Karah Jennings McConnell, Principal & Executive Vice President, and Russell Stewart, JD,…
The Highlight Zone
By Caleb Harshberger – Staff Writer, Triangle Business Journal Jan 15, 2021, 6:54am EST In 2017, CityPlat principal Vincenzo Verdino learned of a new program just implemented by the federal government to encourage investment and development in underutilized properties around the country, and he wanted in. The program established certain census tracts as Opportunity Zones and allowed investors to put capital gains into properties in underserved areas with serious tax benefits. “When the legislation was…
Property Closings – December 2020
Closed Transactions for December 2020 Sales Southport Business Park, Morrisville, NC: Industrial/Flex space totaling 114 acres. Dee Creech Osborne, SIOR, Vice President, represented the seller in the transaction. 2903 Lee Avenue, Sanford, NC: Industrial/Flex space totaling 73,198 SF on 4.85 acres. Scott Hadley, Vice President, Hunter Stewart, MBA, Senior Director, and Russell Stewart, JD, Broker, represented both the buyer and seller in the transaction. 0 Commerce Ct., Ste. 102, Pittsboro, NC: Land totaling 1.4 acres….
The big Raleigh-Durham developments set to deliver in 2021
By Caleb Harshberger – Staff Writer, Triangle Business Journal Dec 29, 2020, 8:13pm EDT Updated Dec 29, 2020, 11:32am EST The Triangle is gearing up for a flood of big developments set to delivery in 2021, even as the real estate market continues to deal with the impacts of Covid-19 and the uncertainty around the future of the office sector as working of home becomes mainstream. Several mixed-use and office projects are set to open…
Drucker + Falk Awarded Leasing and Management of The Walker, Luxury Apartments in Downtown Cary, NC
RALEIGH, N.C., Dec. 15, 2020 /PRNewswire-PRWeb/– DF Multifamily, a division of Drucker + Falk (DF), one of the nation’s most prominent multifamily management companies, recently assumed the leasing (along with Lee & Associates) of The Walker apartments. This new, vibrant mixed-use project in the trending downtown Cary, North Carolina market overlooks Cary Downtown Park with the first apartment homes scheduled to be ready in early 2022. The Walker consists of 153 apartments and commercial…
THE INDUSTRIAL SECTOR: NO END IN SIGHT OF ITS SUCCESS
Although the pandemic has ravaged many commercial real estate sectors, the industrial market continues to thrive and attract enormous interest from lenders, investors, and REITs. On account of the increase in e-commerce and the continued need for last-mile distribution centers and regional warehouses, asset values of industrial properties are at record highs and the market fundamentals have never been better. This report will explain the causes behind the industrial market’s success, explain why industrial properties…
Property Closings – November 2020
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…