Martin Cramtom Gives Notice of
Retirement,
Effective December 1, 2003
Martin Cramton, Director of the Charlotte Mecklenburg Planning Commission, informed members of the Charlotte Mecklenburg Planning Commission at noon today that he gave his notice of retirement to City Manager Pam Syfert this morning. Martin Cramton's retirement will be effective on December 1, 2003. CRCBR will keep you updated regarding details of the search process to find a replacement for his position as soon as they are learned.
City Council
Halts Construction of Asphalt Plant
A controversial asphalt plant won't be built in a center-Charlotte
neighborhood as planned, but nobody's celebrating – not even
neighborhood leaders who fought city hall and won. The Charlotte City
Council voted 9-2 Tuesday to shell out $797,000 in cash, land and other
services to get Ferebee Corp. to move the plant to an industrial site in
northern Charlotte.
[More]
Pineville Turns
Down Large Retail Developments
Saturated with more than 6 million square feet of retail, the south
Mecklenburg County town of Pineville is trying to remake itself. Fearing
more traffic congestion and added strain on police resources, the town
council twice this year has turned down large retail developments -- and
says what it would really like is for some folks to come build single-family
houses.
[More]
Seeking Solutions
to Big Box Blight
The Big Box Review Committee was formed to further explore the ideas
suggested by the Charlotte Planning Commission in their report “Seeking
Solutions to Big Box Blight”. A copy of the report and the review can be
found at http://www.rebic.com/
Legislative News
From REBIC
The North Carolina Senate overwhelmingly approved by a vote of 48 to 2 the
second reading of Senate Bill 725, Local Option Project Development
Financing, sponsored by Senator Dan Clodfelter. This bill, if passed, would
require a referendum on the 2004 General Election ballot to allow North
Carolinians to amend the North Carolina Constitution to allow cities and
counties to incur obligations to finance the public portion of certain
economic development projects. For additional information regarding this
bill, please contact REBIC.
Tax Increment Financing Bill Passes Senate
Committee
The Senate Finance Committee on Wednesday gave a favorable report to SB 725
(Local Option Project Development Financing). The bill would allow local
governments to issue bonds to help pay for infrastructure improvements
without having to put the issue to the voters. The bonds would be paid by
earmarking the increased revenues that result from higher property values in
the newly developed areas being served by the infrastructure. An amendment
to the state constitution would be required because governments cannot use
property tax revenues to secure the bonds without a vote of the people. If
approved by the General Assembly, voters would see the issue on the ballot
in November 2004. Twice voters have defeated a similar proposed
constitutional amendment -- in November 1982 and in November 1993. The bill
now goes to the Senate floor for consideration.
Retail Heating Up in Southwest
Charlotte
Childress Klein Properties Inc.,
intrigued by soaring residential growth in southwest Mecklenburg, is
exploring plans for a Target-anchored retail center next to its Steele Creek
Crossing development.
[More]
An End to Isolation
The completion of the outerbelt in
southwestern Mecklenburg is opening up the county's last frontier, the area
known as Dixie Berryhill, to unprecedented growth. To guide the crush
of development that's expected to follow the arrival of Interstate 485, the
Charlotte City Council recently approved a strategic plan for an area that
largely retains its rural roots.
[More]
Land Prices Rise
as Rail Nears
Land prices have
increased about 10 percent in the last nine months on the properties that
Charlotte Area Transit System plans to buy for the stations and parking lots
along the city’s planned light-rail track.
[More]
Office Leasing
Slows in Uptown Charlotte
Office leasing in
Charlotte's
center city is the slowest since the early 1990s recession, but the majority
of the nation's 50 largest markets are doing worse. Only five cities –
Raleigh; Bakersfield, Calif.; Milwaukee; Sacramento and Washington –
reported better downtown occupancy rates than
Charlotte
in the first quarter.
[More]
Barometer Shows
Lack of Recovery in Building
Difficult times are not yet over for the Carolinas' commercial construction
industry. An economic index for the industry suggests conditions are not
likely to get worse, but relief won't be coming anytime soon.
[More]
www.NCREALTORS.org
NCAR’s Web site www.ncrealtors.org
is about to become a better resource. They’ve given it a facelift, made it
easier to navigate and added a search feature. On or around June 1, you’ll
be able to access members-only content with an easy-to-remember ID (your
e-mail address) and a password that you can change. Your default password is
the same one you currently use. You can find it on your tar heel REALTOR®
mailing label above your name.
NCAR Annual
Convention
With summer just around the corner, it’s time to start making plans to
attend NCAR’s Annual Convention, planned for Sept. 14-17 in Hilton Head,
S.C. Registering for the convention is now quicker and easier than ever
before, with NCAR’s new online registration system. Go to NCAR’s convention
Web site,
http://www.ncarconvention.org/ and register today!
NAR's Board of
Directors Approves Virtual Office Website Policy
NAR's new Virtual Office Website ("VOW") policy was approved by the NAR
Board of Directors on May 17 at the 2003 Midyear Meetings in Washington
D.C. To view the new policy and the accompanying model MLS rules and
regulations that will assist MLSs with implemention, click on the following
link.
http://realtor.org/mempolweb.nsf/pages/vowpolicy
Improvement Costs
Cut Commercial Returns
Commercial real estate investors and owners should expect yields on their
investments to keep falling due to capital expenditure leakage--the money
landlords spend on building improvements and concessions--according to the
latest quarterly research report by LaSalle Investment Management.
[More]
Property Sales
Remain Active
Commercial property sales
remain very active despite a decline in market leasing
fundamentals, according to presentations at a commercial real estate forum
at NAR’s Midyear Legislative Meetings & Trade Expo last week.
[More]
Despite Tension, Middle Eastern Commercial
Investment Soars
Middle Eastern investors continue to pour large sums into U.S. commercial
real estate, even as anti-American sentiment persists in the region.
[More]
Legislation Would Help Landlords Recoup
Under recent legislation introduced in Congress, commercial landlords would
be able to depreciate so-called leasehold improvements over 10 years, rather
than the current 39 years. The amendment would save owners money and would
encourage quicker property improvements.
[More]
Keeping Banking Conglomerates Out of Real
Estate
For the second consecutive Congress, a majority of the U.S. House of
Representatives has cosponsored legislation that will keep banking
conglomerates out of real estate, according to NAR. N.C. cosponsors of H.R.
111, the Community Choice in Real Estate Act, are Frank Ballance, Richard
Burr, Mike McIntyre, David Price, and Charles Taylor.
[More]
CRCBR Member, Clay Andrews...
Transwestern Awarded Marketing
of Rock Hill Business Park
Transwestern Commercial Services, (TCS),
a privately held, full-service commercial real estate company, announced
today that its
Charlotte, NC office has been chosen by the Rock Hill
Economic Development Corporation (RHEDC) to market TechPark Business Park.
There are approximately 68 acres remaining in the high-quality mixed-use
park located at the intersections of Dave Lyle Boulevard and Anderson Road
(Highway 21 By-Pass) in Rock Hill, South Carolina. Major park tenants
include Hartman Conco, Weyerhaeuser Paper Company and C. C. Dickson.
[More]
CRCBR Member, Dean Ecuyer...
Lichtin Adding Third Office at Toringdon Development
Strong leasing activity is prompting
Raleigh-based Lichtin Corp. to begin construction of another multitenant
office building in its Toringdon development in south Charlotte.
Toringdon III, an $18 million, 85,000-square-foot building, is scheduled for
completion in January and is being built on speculation, says Dene Ecuyer,
a Lichtin vice president in Charlotte.
[More]
|
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As a full-service real estate market research firm, our services encompass an extensive online property database, tax data software, and additional comprehensive information products which are vital to commercial real estate professionals located in Charlotte, Greensboro, Winston Salem, High Point, Raleigh, Durham and Chapel Hill. In addition, we produce the Apartment Index report and Apartment SourceCD containing statistics on more than 700,000 multi-family units in North Carolina, South Carolina, Virginia and Florida.
Our commercial information services are not only for the broker. For building owners, investors, mortgage lenders, appraisers, asset managers, or any vendor in need of real estate information - we provide quality data and the convenient Web based marketplace for you to access it quickly and easily.
Don’t miss the opportunity to subscribe to the most utilized real estate information service in the region. Not only do we offer comprehensive services and quality information, our clients also benefit from our local presence. As a locally based company, we are able to provide our clients with personal attention and have a better understanding of their needs. Our experienced staff provides ongoing client satisfaction through detailed technical support and training, in addition to our expertise of the local market.
To learn more about how we can assist you with your research needs, visit us at www.Realindex.com or contact us at:
Carolinas Real Data
1329 East Morehead Street
2nd Floor
Charlotte, North Carolina 28204
Brett Hicks, Commercial Services - Charlotte, 704-335-0909 ext. 2
Danita Mitchell, Commercial Services -
Greensboro/High Point/Winston Salem, 336-373-9995
Jim Salthouse, Commercial Services - Raleigh/Durham/Chapel Hill,
919-696-2257
Find out what commercial real estate professionals in these companies have been up to!
Charlotte Commercial Properties
Crosland
NAI Southern Real Estate
Trammell Crow Company
Transwestern Percival, LLC
Trinity Partners
Get Your News in The Voice!
Email press releases to erica@crcbr.org
Last Chance to take your Mandatory
Update, Commercial Version Class
through CRCBR...
Mandatory Update
ProNet
The Professionals Network
Thursday, June 5 - 5:30-7:30pm
@ Blue, 214 N. Tryon, Suite 100
Watch for more information on
these upcoming programs:
Fall Forecast -
September
Golf Tournament - October
Mixed-Use Bus Tour - November
Annual
Meeting - December
Click on the links below to visit our sponsor websites.
Cousins Properties, Inc.
Floyd Smith
Office Park
Huntersville Business
Park
Kannapolis
Gateway
Business
Park
Lauth Property Group
Barker Corvus
Edifice, Inc.
Kennedy Covington Lobdell & Hickman, LLP
The International
Business Park at Concord
Lichtin Corporation
CRCBR
PO Box 36566
Charlotte, NC 28236-6566
704.377.8982 phone
704.377.8983 fax
info@crcbr.org
www.crcbr.org
Charlotte Region Commercial Board of
REALTORS®
PO Box 36566 • Charlotte, NC 28236-6566 •
704.377.8982 phone • 704.377.8983 fax
info@crcbr.org •
www.crcbr.org