News
2013
December 5, 2012
| ?Tis the season—for real estate predictions. (That's how we celebrate our holidays. Don't worry, it leads to just as much infighting as your family.) The overview: Charlotte CRE?s going to have another reasonably good year in 2013, CohnReznick's new managing partner Melissa Boone says, but not without wrinkles. | ||
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1) HOT SPOTS Melissa, right, tells us that Uptown Charlotte and Ballantyne will remain the go-to places for tenants and investors next year. (Some investors aren't waiting for next year, either; yesterday, Parkway Properties said it's buying 525 N Tryon for $47.4M.) ?We're going to see a lot more growth in those places in 2013,? she says. ?We have an educated workforce that likes being in Uptown in particular.? | ||
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| 2) OVERBUILDING? As additional projects go from the drawing boards to the pipeline, the question of Charlotte multifamily overbuilding won't go away. But next year the market won't show signs of overbuilding just yet. ?There's still too much demand for apartments,? Melissa says. Job creation is one reason, but it'll also be true that many renters by choice remain reluctant to buy houses. | ||
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3) INDUSTRIAL MOJO Charlotte will keep its momentum as a manufacturing and distribution hub, Melissa says, citing this year's move by Swedish appliance maker Electolux?s North American HQ to University Research Park, which meant new jobs and expansion for its building.International manufacturers have discovered Charlotte, and there will likely be more relocations or major leases in the sector involving overseas players, perhaps as soon as '13. |
