Monday, March 8
3:30 pm – Charlotte City Council Transportation & Planning Committee Meeting
5:00 pm – Charlotte City Council/Manager Dinner Briefing
7:00 pm – Charlotte City Council Business Meeting
7:00 pm – Matthews Town Council Meeting

Tuesday, March 9
12:00 pm – REBIC Board of Governors Meeting featuring Mayor Anthony Foxx
6:00 pm – Davidson Board of Commissioners Meeting
6:30 pm – Mint Hill Comprehensive Land Use Advisory Committee Meeting
6:30 pm – Pineville Town Council Meeting

Wednesday, March 10
1:30 pm – Mecklenburg Board of County Commissioners Econ. Development Comm. Meeting
3:00 pm – Mecklenburg Board of County Commissioners Budget/Public Policy Workshop

Thursday, March 11
8:45 am – Greater Charlotte Apartment Association Gov. Affairs Committee Meeting
9:00 am – Realtor® Expo
1:30 pm – Charlotte City Council Restructuring Government Committee Meeting
3:30 pm – Charlotte City Council Economic Development Committee Meeting
7:00 pm – Mint Hill Commissioners Meeting
7:00 pm – Troutman Town Board Meeting

The event, lead by returning emcee, Bob Percival of Percival McGuire Commercial Real Estate, was well attended. 

This year we honored 91 Top Producers!  Ryan Clutter of CB Richard Ellis, Inc. was once again our overall Top Producer, Jim Plyler and Steve Gentry of Piedmont Properties of the Carolinas won Transaction of the Year, and Joe Franco of Colliers Pinkard was our Rookie of the Year.

For the complete list of winners, please follow the link below:
http://www.crcbr.org/images2/dm10/10-Deal-Makers-Winners.htm

Thank you to our media sponsor, The Charlotte Business Journal; to Greer & Walker, LLP for tabulating the applications, and to Aerocam, LLC for in-kind event photography.

Event Photos
Click on the thumbnails for larger images.

CB Richard Ellis, Inc. – Anne Vulcano, Jessica Brown and Kathleen Cannon
On March 1, the Charlotte office of CB Richard Ellis assumed the management and leasing assignments for Coliseum Centre in Charlotte, North Carolina – one of the city’s premier office parks.  The owner, JP Morgan Investment Management, appointed the CBRE leasing team of Anne Vulcano, Jessica Brown and Kathleen Cannon.

CRCBR Members Selected to Charlotte Business Journal’s 40 Under 40
Both Greg Pappanastos or Argos Real Estate Advisors and Eric Parris of Jones Lang LaSalle were selected as Charlotte Business Journal 40 Under 40 Award winners.  Congratulations to Greg and Eric.

Childress Klein Properties – Chris Thomas
Monroe Hardware Company recently executed a lease for the 29,577 square foot building formerly occupied by Harris-Teeter at the Mint Hill Festival Shopping Center, located at the intersection of NC Highway 51 and Lawyers Road in Mint Hill and owned by AAC.   Chris Thomas represented Monroe Hardware Company and Patrick Russell of AAC represented the landlord in this transaction.

Clay Realty Advisors, LLC – Bob Clay, CCIM
Bob Clay, CCIM of Clay Realty Advisors, LLC in McAdenville, NC has been appointed to the North Carolina Turn Pike Authority Board of Directors by Senate Pro Tempore Basnight effective January 15, 2010. Bob has been an active proponent in the advocacy of the Garden Parkway connecting I-485 south of Charlotte Douglas Airport to I-85 South of Gastonia for a number of years.

First Commercial Real Estate Advisors – Keith Bell
Turman Commercial Painters, the California-based commercial painting contractor who opened its first East Coast office in Charlotte last October, is already expanding, purchasing a 10,000 square foot building in the Coffee Creek Business Park. Turman was represented in the purchase by Keith Bell of First Commercial Real Estate Advisors, LLC.

Merrifield Patrick – Bailey Patrick
Merrifield Patrick, LLC, assisted Saussy Burbank, LLC with the site selection and leasing of their new Charlotte office.  Saussy Burbank, LLC leased 5,033 square feet of Class A office space located in LakePointe Corporate Center Three at 3730 Glen Lake Drive in Charlotte.  Bailey Patrick of Merrifield Patrick, LLC represented Saussy Burbank, LLC.

Send Us Your News
We want to hear what you’ve been up to. If you have any transactions, awards, promotions, or any other news, please send your information to us at info@crcbr.org.

At a meeting on Friday, February 19 at the Hal Marshal Building, a discussion was started regarding  the Mecklenburg County GIS system (Polaris) and upcoming changes to the system.  The meeting was attended by real estate brokers, appraisers, surveyors, attorneys, paralegals, etc (“Power Users”). 

Very little of the discussion was geared toward the removal of “Search by Name” features (as previously thought).  The main focus of the meeting was for the technology team to discuss upgrades to the current system.  At nearly 8 years old, the Polaris system we currently use is antiquated.  According to the speaker at the meeting, the existing system will be completely replaced sometime between October and December 2010.  In open discussion, the website development team asked for candid answers to the following questions; “What do you like about the current system?” “What do you dislike about the current system?” and “What would you like to see in a new system?”  The answers were plentiful and well documented by the development team.  If they are able to incorporate the Power Users’ suggestions, the new system will be a tremendous improvement over the existing system.

As mentioned, very little time was dedicated to the proposed removal of “name search” functions on Polaris.  The attendees were polled about whether it would significantly impact the usability of the system and a few alternatives were discussed.  The best alternatives discussed were: a) Implementing a subscription service that would allow name queries thereby allowing the system to track who is searching for whom; or b) Suggesting to public officials and law enforcement that they put their homes in a trust.

The meeting leaders strongly suggested that everybody with an opinion complete the survey on Polaris.  http://checkbox.co.mecklenburg.nc.us/NameSearchSuppression.survey.  Please include your e-mail address in case they need additional information or would like to contact you for discussion.

Thursday, March 11, 2010

Network with other real estate industry professionals at CRCBR’s members-only BrokerNet.  Join us March 11th to watch the ACC Tournament and practice your 3-point shot on the Wii. 

Complimentary beverages and appetizers will be provided. 

Please Note:  Only members listed in the CRCBR directory are allowed to attend this event.  Corporate Associate membership is handled on a per person basis, not per company.

Thank you to our event sponsor, Cox & Schepp Construction,
and our drink ticket sponsor, O’Leary Group Waste Systems.

Registration
This is a CRCBR members-only event.  There is no charge to attend.

• To register online, click here.
• For a printable registration form, click here.

Questions
If you have any questions about BrokerNet, please contact the CRCBR offices at 704-377-8982 or by email at info@crcbr.org.

The Charlotte Regional Partnership (CRP) invites CRCBR members and industry professionals to attend a networking breakfast to learn more about how the CRP is working to enhance the economic growth, vitality, and global competitiveness of the Charlotte region.  A professional panel discussion will follow.

Moderator
Ronnie Bryant, President & CEO, Charlotte Regional Partnership

Panelists
Steve Gassaway, Managing Director, CBRE
Landon Wyatt, Industrial Partner, Childress Klein Properties
Kenny McDonald, Executive Vice President, Charlotte Regional Partnership
Robert Van Geons, Executive Director, RowanWORKS Economic Development

Program
7:30 – 8:00 am – Registration/Networking
8:00 – 9:00 am – CRP Overview & Panel Discussion

Registration
The cost to attend is $15 per person.
•  To register online, click here.
•  For a printable registration form, click here.

Questions
If you have any questions, please contact the CRCBR offices at info@crcbr.org or at 704-377-8982.

Land Report
By Brian A. Craver, CCIM, Gallant Properties, LLC

I like to be an optimist.  No reason to dwell on negatives in the past.  However, being asked to provide the 2009 Year in Review for the commercial land category felt like being asked to comment on this year’s Carolina Panthers 0-3 start…it was full of challenges, disappointments and many unknowns.  Most of us were glad to ring in the New Year and put 2009 behind.  If for nothing else, the new hope, attitude and perspective that we are somehow closer to beginning the arduous journey to economic recovery and health.  Unfortunately, that may be where it stops as many of the fundamental challenges ….high unemployment, wavering consumer confidence, maturing debt, tight credit, decreasing property values and increasing bank failures…..continue to weigh on the ability for commercial real estate to thrive.

Stating the obvious, 2009 was challenging for all commercial property types including retail, office, industrial; and arguable most of all, land.  The effects of the financial meltdown that began in 2008 were felt throughout 2009.  Commercial land transaction volume was virtually non-existence compared to the highs of 2006 and 2007.  Although most indices signaled the end of the Great Recession in June 2009, the turnaround for the commercial real estate business continues to be challenged as it lags the general economy.  Most land owners, developers and deal makers spent a majority of their time during 2009 dealing with existing properties and projects with maturing debt, inability to obtain credit, rising vacancies, lowering rents and ultimately decreasing properly values.  There was little demand for land as ground up development had dramatically slowed and the ability to finance all but stopped.  Finally, those investors seeking distressed properties continued to be unsure of real estate valuations and if the bottom is really here. 

Moving into 2010, there seems to be as much uncertainty as to what the future holds.  For every positive sign there are equal data points that indicate we are on fragile ground at best.  Although the nation is moving towards an economic recovery, it looks to be a jobless recovery, which is one of the biggest concerns.  High unemployment against a backdrop of the unknown effects of the government bailout, such as higher taxes and potentially escalating interest rates, will continue to foster slow growth well into 2010.  For land and other non-income producing properties, it will continue to be particularly challenged.

So you wonder, “Where is the optimism?”  The good news is that lower pricing and higher vacancy can bring about more opportunity. 2010 will be the beginning of attractive buying opportunities for the next several years.  There is hope that the pricing expectations between buyers and sellers can be bridged and land can be purchased at a price that makes development economically viable; that the economic uncertainty that has sidelined investors will become more clear and result in more acquisition opportunities; that banks and other financial institutions begin to move more aggressively to dispose of commercial real estate loans and financially distressed real estate assets; and finally there is demand to expand and grow across all property types so land as an asset class can start to make a comeback.

Living here in Charlotte, there is reason for all of us to be optimistic about our business and the greater community we live in.  I am encouraged by several of the recent announcements regarding business committing to Charlotte as their headquarters thus increasing employment base.  If we can focus on job creation, then we can begin to turn around an “0-3” season.
 
Editor’s Note:
Make sure to join us on February 25th at the Westin for our Deal Makers Awards Luncheon.   Click here to register now.

Retail Report
by Billy Cooper, NAI Southern Real Estate

It may be safe to say the worst is over but the road to recovery in the Charlotte retail market will be long and arduous. The seriousness of the recession has been unparalleled in the United States, with the exception of the Great Depression, and the Charlotte retail market should expect a deliberate recovery.

Charlotte will likely rebound far sooner than the rest of the country and stabilization will lead to retail opportunity. Integra Realty Source, America’s largest real estate valuation and counseling firm, estimated Charlotte to overcome the retail setbacks of the recession and balance at a far greater rate than the majority of markets in the country. The opening of IKEA, a 356,000 sq foot home furnishing store from the Swedish retail giant remains optimistic that the store will do well in Charlotte despite the recession that has hammered other home furnishing retailers through out North America.

 The Charlotte economy is already displaying signs of early stabilization. According to Property and Portfolio Research Daily, Charlotte and Raleigh were the only two metros in the country showing back to back months of job growth in 2009. Furthermore, the Charlotte housing market should rebound well ahead of the national average since its values were not as overinflated during the boom of the past decade as most metropolitan cities. Both of these indicators provide hope but it conservatively will be mid 2011 before the Charlotte Retail market will truly feel the recovery.

The Retail real estate trends for 2010 will likely be more concessions from Landlords coupled with reduced rental rates to attract new Tenants. Vacancy rates will undoubtedly increase until the economy stabilizes. Furthermore, Landlords will be forced to be creative in reworking existing Tenant leases to prevent the sluggish economy from pushing retailers over the edge and forcing more closures. The retailers who will consider expansion in 2010 will be requiring aggressive terms knowing their leverage is greater than it’s been over the past decade. The Charlotte retail market in 2010 will likely be stronger than 2009 but that will not be a large feat.

Editor’s Note:
Make sure to join us on February 25th at the Westin for our Deal Makers Awards Luncheon.   Click here to register now.