Legislative Updates

Legislative updates:

• The General Assembly convened their session on November 27 and have met in both committees and general sessions to address legislation ranging from authorizing language for the voter id constitutional amendment to additional disaster relief funds and local bills.
• In their disaster relief package, legislators approved an additional $300 million in funds to support local communities affected by Hurricanes Florence and Michael. They also provided additional allowances for farmers to receive aid for lost crops and livestock.
• Legislators also addressed potential economic development projects, increasing the allowances under the Job Development Infrastructure Grant (JDIG) program for higher wage companies.

CRCBR 25th Anniversary Video

CRCBR is celebrating our 25th anniversary as an association. In honor of this accomplishment, we’ve put together a video highlighting what we do.

2018 CRCBR Annual Report Available

We’ve published our 2018 Annual Report. Check it out here.

Members on the Move

Send us your News and Transactions
Did you know that the Members on the Move post is our most viewed and reaches over 1,000 CRCBR members in our Voice Highlights newsletter? We are always looking to recognize our members for their achievements. Please send any recent news or transaction information to thevoice@crcbr.org.

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Congratulations to the following CRCBR members on their recent achievements:

Blanq Real Estate – Clifford Blanquicet
Austin-based Artesia Real Estate purchased the 195,175-square-foot building at 1801 N. Tryon St. this week for $8.8 million. The property, which dates back to the 1930s, has been the longtime home of the City North Business Center, a flex space that’s been home to hundreds of small businesses over the years. Clifford Blanquicet handled this transaction.

Colliers International – Adam Farber
Quantum 3 Media, LLC (Q3M), a pivotal player in direct marketing, moved its call center to Charlotte’s University from Huntersville. The company’s nearly 15,000-square-foot office is now located at 8530 Cliff Cameron Drive in The Grove IV. Adam Farber of Colliers International | Charlotte represented Quantum 3 Media on the transaction.

Crossman & Company – Jill Ecuyer
Crossman & Company, one of the Southeast’s largest retail leasing, property management and investment sales firms, has announced that Jill Ecuyer has joined the company in Charlotte, N.C as Senior Associate and will oversee the opening of a Charlotte office. With over 20 years in commercial real estate, Ecuyer has consistently been recognized as an industry leader earning numerous awards and accolades. She joins Crossman & Company after five years at Newmark Knight Frank (NKF), where she served as a director.

Gibson Smith Realty Co. – F.G. ”Buddy” Hege, CCIM
F.G. “Buddy” Hege, CCIM, of Gibson Smith Realty Co., exclusively represented the Seller of 87 acres off Stevens Mills Road in Stallings NC. The Buyer, Pulte Home Co., represented themselves.

Gibson Smith Realty Co. – H.P. “Smitty” Smith
Gibson Smith Realty Co. partner, H.P. “Smitty” Smith, CCIM, was awarded Life Membership by the CCIM Institute at their annual national meeting held recently in Chicago. Smith earned the CCIM designation November 11, 1988 and, in being awarded Life Membership, was recognized for his leadership service to the Institute over many years. Smith served as the Institute’s Treasurer in 2003, Vice President in 2004 and on the national Board of Directors for 12 years. Smith also served as NC CCIM Chapter President in 1993.

Mohr Partners – Clyde Robinson
Mohr Partners, Inc. the world’s largest wholly-owned commercial real estate advisory firm exclusively focused on representing businesses, has recruited Clyde Robinson, Jr. as Managing Partner, to spearhead the expansion of its Charlotte office. “Clyde’s decade plus experience advising businesses in both the local Charlotte market as well as throughout the US make him the ideal leader to drive our growth initiative in North Carolina,” said Robert Shibuya, Chairman & CEO. “Clyde’s commitment to providing expert real estate advice to mid and large cap companies, and his commitment to driving diversity in the CRE industry, make him an ideal fit for our platform.” Read more here.

New Forum, Inc. – William Hodges
Local real estate firm New Forum, Inc. announces groundbreaking of Two Silver Crescent, an 88,000 square-foot Class A Office building, located in the Town of Ayrsley in Southwest Charlotte. With this development, New Forum will move their corporate office to Two Silver Crescent, slated to deliver in Fall 2019. A groundbreaking ceremony will take place Tuesday, December 4 at 9 AM at the future site located at 1916 Ayrsley Town Blvd. Leasing of Two Silver Crescent will be handled through William Hodges, Vice President & Broker-in-Charge at New Forum.

CBRE’s Tech-30 Report Highlights Charlotte’s Office Rent and Tech Labor Pool Growth

Charlotte saw an overall office rent growth of 13.7 percent between Q2 2016 and Q2 2018, the sixth-highest among the markets featured in CBRE’s annual Tech-30 report, which measures the tech industry’s impact on office rents in the 30 leading tech markets in the U.S. and Canada. Here are the highlights out of the report:

• Although the overall office rent growth increased, the market’s Northeast submarket offers the greatest discount of a top tech submarket within its overall market.
• With Charlotte’s Northeast submarket offering an 18 percent discount office rent, the city is attractive to occupiers and presents one of the best combinations of low office rents and a growing high-tech labor pool among the Tech-30 markets.
• Charlotte’s high-tech employment grew 15.4 percent during 2016 and 2017, accounting for 16.8 percent of all new office jobs.
• Office rents also increased in 26 of the 30 primary tech submarkets, including in Charlotte’s Northeast submarket, where rents grew 10.7 percent.
• At 5.8 percent, Charlotte also saw the fifth-most net absorption growth of the Tech-30 markets between Q3 2016 and Q2 2018, behind only Salt Lake City, Raleigh-Durham, Silicon Valley and Vancouver, and up from #7 in the 2017 report.

Download the report.

Welcome New CRCBR Members

We are proud to introduce our new association members! The following is a list of individuals who have joined CRCBR since October 24:

• Kiel Bollero, Corporate Associate, Carolina Realty Advisors
• Darius Chase, Corporate Associate, South State Bank
• Allison Mitchell, REALTOR®, TRIPP Commercial
• Jerone Pearson, REALTOR®, Jerone Pearson Inc.
• Anthony Swatsworth, Corporate Associate, Record Storage Systems

Realtors® See Increase in Commercial Income and Sales Volume for Second Straight Year

Commercial real estate markets are on the rise, with Realtors® specializing in commercial real estate reporting both an increase in members’ gross income and sales volume, according to the National Association of Realtors® 2018 Commercial Member Profile. Corresponding to tightened inventory conditions, sales transactions for NAR’s commercial members have slowly decreased in the last two years, down from eight in 2016 to seven in 2017.

The annual study’s results represent Realtors®, members of NAR, who conduct all or part of their business in commercial sales, leasing, brokerage and development for land, office and industrial space, multifamily and retail buildings, as well as property management.

“The commercial real estate industry is strong and is on pace with the growing economy. Although there is a slight decrease in transactions, commercial professionals have reported improvements in their markets and business activity for consecutive years. Realtors® reported that sales volume and costs of sales increased this year, as well as median gross annual income,” said NAR President John Smaby, a second-generation Realtor® from Edina, Minnesota and broker at Edina Realty.

Click here to read more.