Category: Blog

In downtown Raleigh’s Warehouse District, Kane Realty Corp. is bringing the former Dillon Supply Co. building to life.  Now called The Dillon, it is the first mixed-use development of its kind in downtown Raleigh’s rapidly expanding, vibrant Warehouse District.  As you can see in the photo below, the shell of the landmark structure is preserved and rising out of the shell is a new 18 story tower for office space, two adjacent apartment buildings, 40,000 square feet of street level retail, restaurants, and even a signature rooftop dining destination. The development is scheduled for completion in mid-2018.

 

Amy Bush checking out the Dillon

The Dillon isn’t the only major development on the block, either.  Right around the corner is Raleigh’s Union Station development.

The Union Station project is an $87M multi-modal transit facility in Downtown Raleigh’s Warehouse District.  It is planned to open in January 2018 for Amtrak passengers.  It also includes a Civic Hall for large public events and Commercial space used for retail, office, and restaurants.

 

Arial view of the new Union Station

Brett Evans, a manager at The Flying Saucer Draught Emporium (also right around the corner from the Dillon and a favorite downtown meeting place for Amy Bush Commercial) told Spectrum News, “It’s insane how much is happening around here.”   We couldn’t agree more!

 

View from Dorothea Dix Park of downtown Raleigh.

When we think about how special the Triangle region is to live and work, we thank the amazing visionaries in the past who helped create the vibrant community that we live in today – the Universities, the Research Triangle, RDU Airport, the major museums, theaters, ballparks in the region.   And today, right now, we are creating one of these “once-in-a lifetime”  opportunities that will provide an amazing public amenity for future generations.

In July 2015, the City of Raleigh acquired of 308 acres of the Dorothea Dix Campus.   Currently, Raleigh is planning and developing a new destination park on the property.  According to their mission, “the master plan for Dix Park will encourage bold thinking, promote civic pride and become a new standard for the creation of urban parks.”

You can follow (and like) Dorothea Dix Park on Facebook:   https://facebook.com/DixPark/

 

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Moore Square Park in Downtown Raleigh

As we think about Raleigh’s newest park, we would be remiss if we didn’t shout-out for Raleigh’s oldest park.  As one of the original public spaces set aside when Raleigh was established, Moore Square is a 225-year-old park in the heart of Raleigh.  Ground breaking for the $12.5 million renovation project was on November 9, 2017.

We will continue to visit the shops, museums, restaurants, and city-life surrounding the park and will share in the excitement when Moore Square Park reopens in 2019!

The City of Raleigh is working on exciting improvements to the Six Forks Road Corridor.  The funding comes from a $200M transportation bond that passed a few years ago. The Six Forks Road plan makes major improvements from the I-440 Beltline to Lynn Road. It widens sections of Six Forks Road to six lanes and improves bicycle and pedestrian access.

At the Six Forks Road and I-440 Beltline, the North Hills mixed use development is one of the major commercial real estate areas that are driving the Triangle’s robust market.  Many businesses are seeking urban-like locations –  there are scores of restaurants, cafes, bars, shops, art galleries and yoga studies all within a short distance of North Hills.  That’s a huge appeal to many companies these days.  With its base at North Hills, the Six Forks Road Corridor extends northward through the heart of North Raleigh.  It is convenient and well-connected to were employers and employees want to be.

Maps from Six Forks Road Corridor Plan public meetings

The Six Fork Road Corridor Plan can be found on the City of Raleigh website.  One on the common comments and suggestions to the plan is to extend the coverage all the way to I-540.   The Six Forks Road corridor has been one of the most vibrant commercial real estate markets in the Triangle and we foresee that the improved transportation, enhanced walk-ability, and new amenities will continue to make Six Forks Road a premier place to do business.

 

Whether you are looking to invest, buy, or lease commercial real estate in the Triangle, contact us at Amy Bush Commercial and we look forward to assisting you.

We have blogged about 1031 Like-Kind Exchange in the past, but it is defiantly worth repeating.  Overall, about 1 out of every 4 Real Estate deals we are involved with are associated with a 1031 Like-Kind Exchange.   We recently gave a presentation at Preston County Club (for the Triangle Real Estate Investors Association) and many of the questions from the audience were related to 1031 exchanges.

As you probably know, there is a major effort underway in Congress to reform the tax code and reduce the tax burden. These reforms are complicated and while not specifically targeted in the current tax reform plans, the continuation of the Section 1031 like-kind exchange has been discussed as something that could be on the table.

What, exactly, is the 1031 Like-Kind Exchange? Section 1031 of the U.S. Tax Code lets those who reinvest proceeds from the sale of a non-homestead properties in similar (‘like-kind’) properties defer paying tax on the profit. It’s often referred to as the 1031 Like-Kind Exchange.

So why would any member of Congress want to reduce or even eliminate the 1031 Like-Kind Exchange?  The government could collect an estimated $40 billion in taxes over a ten-year period by repealing Section 1031, but the flip-side is that it would cost our economy in lost growth and opportunity.

The Commercial Real Estate community continues to monitor and lobby to protect the 1031 exchanges.

As with everything in the tax code, there are lots of requirements and “i’s” to dot and “t’s” to cross in order to quality for the 1031 Like-Kind Exchange.  So if you have any questions related to 1031 exchanges, let us know how we can help.

View of downtown Raleigh from PricewaterhouseCooper and the Urban Land Institute’s annual Emerging Trends in Real Estate report

The predictions in the annual Emerging Trends in Real Estate report have been long considered a road map to the best real estate markets in the country.   Raleigh/Durham moved up three positions to #4.

Now in its 39th year, Emerging Trends in Real Estate is one of the oldest and authoritative  industry outlook for the real estate and land use industry.  The market outlooks included in each edition are based on an extensive survey, multiple interviews, and individual market focus groups.

Here are the top 10 markets and their rankings last year (in parentheses):

1. Seattle (4)
2. Austin, Texas (1)
3. Salt Lake City (18)
4. Raleigh-Durham, North Carolina (7)
5. Dallas-Fort Worth (2)
6. Fort Lauderdale, Florida (35)
7. Los Angeles (5)
8. San Jose, California (17)
9. Nashville, Tennessee (6)
10. Boston (12)

Continue reading “Emerging Trends in Real Estate 2018” →

A section of the Berlin Wall at The Frontier start-up hub in Research Triangle Park

 

Research Triangle Park and our 3 top-tier research universities, UNC-Chapel Hill, NC State, and Duke are the engines that drive the Triangle.  There is exciting news this fall as Scott Levitan has been selected as the new CEO and President of Research Triangle Foundation (RTF).

Scott told the Triangle Business Journal, “This is a dream job and amazing opportunity.  RTP has all the right ingredients—a smart talent pool, a low cost of living, top-tier research universities, engaged staff and community partners, and some of the most innovative companies in the world—to continue growing, transforming, and providing a positive impact to our state and to society at large.”

One of the top priorities for RTP is the completion of “Park Center”, RTP’s mixed-use redevelopment project.  Park Center is a 100 acre parcel located in the center of RTP’s 7000 acres, and will be a walk-able, amenity rich community with residential, retail, office, hotels, public parks, and more.

Today at Park Center is “The Frontier“.  The Frontier is 700,000 sq.ft of office space open to start-ups, small companies, or just about anyone with bold ideas and big dreams who wants to plug in, collaborate, and plan their next big move.  It offers Wi-Fi, meeting rooms, events, food trucks, and parking.  The best part? most of the space is free.

 

About Amy Bush Commercial

Our mission is to provide the highest customer service standards possible.

We pride ourselves in responsiveness, reliability, confidentiality and follow-up with our clients.  We are a full service brokerage firm utilizing state-of-the-art real time technology, training, and research and marketing tools.

We enjoy helping our clients reach their real estate goals and would love the opportunity to assist you!

 

According to a new analysis by Bloomberg, Raleigh and Durham both rank in the top 10 metropolitan areas in “brain concentration”.

The Bloomberg Brain Concentration Index measures the amount of business formation happening in cities with more than 100,000 residents, as well as the amount of employment and education in the Sciences, Technology, Engineering, and Mathematics (STEM).

source:  https://www.bloomberg.com/news/articles/2017-10-10/the-smartest-americans-are-heading-west-as-computer-chips-replace-cow-chips

 

Amy Bush Commercial’s market share is heavily concentrated in the North Raleigh/Cary/Wake Forest area. We tailor marketing materials to highlight the assets of your property. Amy Bush Commercial engages all the major commercial real estate advertising platforms to successfully market your property. Your marketing material will have premium status appearing in LoopNet, Costar, Xceligent and on our website AmyBushCommercial.com. These sites syndicate to many other listing commercial database services. Your property will be very well advertised and visible to anyone.

Please let us know how we can help you. Whether you are a buyer/seller or landlord/tenant we can help you with your commercial real estate needs. We would find it a privilege to assist you and to walk you through the entire process.

We thank you all for your referrals. Thank you to our clients and customers. Most of all thank you for putting your trust in Amy Bush Commercial. We both love what we do and want your real estate transactions to go smoothly and for you to be 100 percent confident that everything is taken care of from beginning to end.

1. Our capital city is a pretty fabulous place to live.

2. Raleigh is the third best city in the country for young families.

3. Raleigh is a top moving destination.

4. Did we mention Raleigh’s undeniable beauty?

5. Indeed.com says that Raleigh is the second easiest city in the country to find a job.

6. Looking for a tech job? Raleigh is the perfect place.

7. We have some of the coolest museums, hands down.

8. Money Magazine named Raleigh the “Best Big City in the Southeast.”

9. Forbes ranks Raleigh 3rd in the nation for young professionals.

10. If you’ve served our country, Raleigh is one of your best choices.

https://www.onlyinyourstate.com/north-carolina/move-to-raleigh-nc/

Amy Bush Commercial’s market share is heavily concentrated in the North Raleigh/Cary/Wake Forest  area. We tailor marketing materials to highlight the assets of your property.  Amy Bush Commercial engages all the major commercial real estate advertising platforms to successfully market your property.  Your marketing material will have premium status appearing in LoopNet, Costar, Xceligent and on our website Amybushcommercial.com. These sites syndicate to many other listing commercial database services.  Your property will be very well advertised and visible to anyone.

Please let us know how we can help you. Whether you are a buyer/seller or landlord/tenant we can help you with your commercial real estate needs. We would find it a privledge to assist you and to walk you through the entire process.

 

 

This is an indepth look at Raleigh.  Raleigh is one of the fastest growing cities in the US.

https://godowntownraleigh.com/_files/sod_website.pdf/

Amy Bush is here to help you find your perfect space to grow your business. Please visit our website and let us know how we can help you.

https://www.amybushcommercial.com/