NAI Carolantic Realty on Target with Commercial Real Estate Forecasts

Steve Stroud, SIOR & Dr. Peter Linneman

At last year's conference, NAI Carolantic predicted that 2011 would be a painfully slow recovery year, but that we would see bottom. They were right on target once again. We finished the year with a drop in vacancy in the multipurpose and office sectors and remained the same in retail. We also had increases in absorption in all but two submarkets. That was the message to more than 1,700 business and community leaders who gathered at Raleigh's RBC Center Wednesday, January 18th for the 27th Annual Triangle Commercial Real Estate Conference hosted by NAI Carolantic Realty. The Conference is considered the authoritative "state of the market" report on the Triangle's real estate sector and an accurate bellwether on the health of the region's overall economy.

Steve Stroud, SIOR, Chairman of NAI Carolantic, welcomed attendees noting NAI Carolantic was celebrating "Forty Years of Forward Thinking." He also said he was glad to be there given a tractor accident three months earlier. He thanked family, his team at NAI Carolantic and friends for their numerous acts of kindness during his recovery.


Jimmy Barnes, SIOR

Following Stroud's comments, NAI Carolantic President Jimmy Barnes, SIOR took center stage to review the past year's commercial real estate landscape and offered Carolantic's forecast for 2012.

"Remember, leasing is big business, as it has been reported there is over a trillion dollars nationally in lease obligations for public companies alone. We are finally making headway, but nowhere near where we were in 2007. The national capital markets are affecting business here in the Triangle. The primary stories are lots of money available but also billions of dollars of maturing debt. Local and community banks are trying to work with their customers, but vacancies and declining values are big obstacles. In addition, a lack of institutional grade, Class A product, low interest rates, and an abundant money supply have driven up activity and consequently prices. The Triangle has benefited from this activity with large transactions in the apartment market ($850 million) as well as the office market. There is still a lot of political unrest, but we are seeing a national recovery, and our local real estate market is as active as we have seen it over the last 36 months. Nothing robust, but we are optimistic moving into 2012", said Barnes.

NAI Carolantic's survey and analysis showed that, in a market of almost 240 million square feet of office, multipurpose and shopping center space, nearly 32 million square feet remained vacant at year-end. "Vacancy decreased slightly in the office and multipurpose sectors, and the shopping center market remained at 6% for the third year in a row. Absorption improved slightly in 2011 and we expect minimal construction in the first quarter of 2012. The apartment market continues to be on fire with the vacancy rate the lowest in the past decade," said Barnes.

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NAI Carolantic Realty Names New Vice President

Kerry Saunders Vice President

NAI Carolantic Realty forms Strategic Partnership with Alliance Commercial Property Management Co.

NAI Carolantic Realty has announced the formation of a strategic partnership with Alliance Commercial Property Management Company headquartered in Greensboro, NC. Effective immediately, NAI Carolantic's property management operations will be merged with Alliance who also handles property management for NAI Piedmont Triad in Greensboro. Alliance currently manages over 2.5 million square feet of office and retail space, including 25 retail properties in North and South Carolina.

"This partnership allows us to strengthen our commercial property management capabilities, expanding our business throughout the region," said Steve Stroud, Chairman of NAI Carolantic Realty. Operating Manager of Alliance Commercial Property Management, Jimmy Black noted the opportunity provides a dynamic platform from which to continue to grow and expand in the Southeast. Bryant Stoneham, CPA, currently CFO for NAI Carolantic will now also become the Chief Financial Officer of the management company. Linda Davenport, RPA, a Senior Property Manager with NAI Carolantic for over 25 years, will become part of the Alliance property management team which has seasoned professionals with combined experience of over 120 years.

Attention Investors:

Be sure to visit the new website: www.assetresolutiongroup.com for a list of available REO properties for sale in the Southeast US. For additional information, please email us at questions@naicarolantic.com

NAI Carolantic Realty Receives Champion Award

NAI Carolantic Realty received the Trendsetter Award on April 28th at the 13th Annual Champion Awards hosted by Triangle Commercial Real Estate Women (TCREW). The award is given "to an individual or company who was willing to take a risk in commercial real estate in an innovative way which was later adopted by many others". Over 350 business leaders attended the event held at the Sheraton Imperial Hotel.

Below is the text from the presenter Lynda Loveland of Mix 101.5 regarding the Trendsetter Award:

The biggest difference between a trend and a fad is the length of time each one exists. Our Trendsetter winner has existed for over 25 years, so it certainly is not a fad. It has actually become an industry staple for over 1,800 business and community leaders, as well as others related to the commercial real estate industry. Providing an honest and sometimes brutally objective insight into our market, as well as offering a forecast which they hold themselves accountable, our winner has spawned many smaller such events for competitors and business partners alike.

For their highly respected Annual Triangle Commercial Real Estate Conference, we salute our Trendsetter, NAI Carolantic Realty.

Steve Stroud Named as Triangle Legacy Leader

NAI Carolantic Chairman, Steve Stroud, SIOR, was presented with a Legacy Leader Award by Triangle Business Journal and Boom! Magazine today at the inaugural award luncheon held at the North Ridge Country Club in Raleigh. Over 450 business leaders were in attendance to honor the fifteen individuals, over age 50, who have made an impact on their community. As stated in TBJ, “They were there when the Triangle was built into what it is today. Indeed, they did much of the heavy lifting and, truth be known, many are continuing that work to this day.” Charlene Grunwaldt, publisher of Triangle Business Journal noted, “This award goes far beyond recognition of their service to this community. This award reiterates the message to our future leaders that they have some big shoes to fill as they continue the work started by these legacy leaders.”

Following the event, Mr. Stroud was asked how he sees the Triangle changing in the next decade and he replied, “As this area continues to attract the best and brightest people, pressure will be brought to bear on critical elements such as water, sewer, and infrastructure. It will be extremely important for our region to work together to solve these problems and leave the Triangle a better place than we found it.” Read More >

Celebrating over 40 years of commercial real estate leadership in the Triangle and across North Carolina

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