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Commercial Real Estate INSIGHTS

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COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Land Sales Trends

Insights: Land Sales Trends

The U.S. economy entered a recession in February, 2020, per the National Bureau of Economic Research. Commercial real estate development typically slows during a recession because developers do not want to incur the holding costs of land parcels if there is not an expected demand for new product.

Insights: Student Housing 2020

Insights: Student Housing 2020

The main uncertainty in the student housing sector is COVID-19’s impact on the 2020-2021 school year’s leasing. There is a variety of factors which make the student housing occupancy outlook uncertain.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Landlord Employer Liability

Insights: Landlord Employer Liability

The ongoing coronavirus pandemic raises the question of whether landlords with leased properties can be held liable for injuries sustained when someone contracts COVID-19 at the premises.

Opportunity Zones & Taxes

Opportunity Zones & Taxes

What are Opportunity Zones? The real estate industry is buzzing about this new program which allows private investment in country’s distressed communities. CBC brings you a quick overview to help you understand what they are and how investors can use them for their benefit.

Regional Summaries

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Charlotte, NC

Apartment
Charlotte's apartment market saw an increase in vacancy in the second quarter of 2019. After finishing 2017 and 2018 at 5.8%, the second quarter 2019 rate came in at 5.8% as well. This is indeed 10 basis points higher than the previous quarter and 20 basis points higher over 12 months, but this is a fairly stable market for occupancy overall. Reis reports respective second quarter average asking and effective rents of $1,163 and $1,083 per month, up 1.5% and 1.6% over the quarter, and up 6.0% and 6.6% over 12 months. Rents here routinely post quarterly gains at or above a full percent. VIEW APARTMENT LISTINGS >
Industrial
Vacancy has not changed much lately in Charlotte's warehouse/distribution market. The second quarter's 10.4% vacancy rate is up 20 basis points from the prior quarter, and unchanged over 12 months. Reis reports second quarter asking and effective rents of $4.75 psf and $4.27 psf, up 1.3% and 1.4% over the quarter, and up 3.3% and 3.4% over 12 months. The Charlotte Flex/R&D market finished the second quarter of 2019 with a vacancy rate of 9.7%, down 10 basis points for the quarter and up 50 for the year. Vacancy is remaining close to the 9.5% rate of 2018. VIEW INDUSTRIAL LISTINGS >
Office
The Charlotte area general purpose, multi-tenant office market finished the second quarter of 2019 with a vacancy rate of 15.6%, down 80 basis points from the prior quarter and down 70 basis points year-over-year. Rent growth has been solid despite high vacancy. Reis reports average asking and effective rents of $25.95 psf and $21.44 psf, up 1.1% and 1.0% for the quarter, and 2.9% and 3.1% for the year. VIEW OFFICE LISTINGS >
Retail
Charlotte's community-neighborhood shopping center market finished the second quarter of 2019 with a 9.6% vacancy rate, unchanged from the prior quarter and up 10 basis points from 12 months earlier. Vacancy finished 2018 at 9.5%. Reis reports a second quarter 2019 average asking rent of $19.54 psf and an average effective rent of $17.17 psf. The asking rent was up 1.0% over the quarter and up 2.5% over the year, with effective rent up 2.4% for the year and up 0.9% over the quarter. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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