Month: February 2015

New York-based Allegiant Air (NASDAQ: ALGT) is coming to Raleigh-Durham International Airport. Permanent non-stop flights from RDU to Punta Gorda Airport, flights to Orlando-Sanford International and flights to St. Pete-Clearwater International Airport start in May.

 

The niche airline provides low-cost flights and sells vacation packages that can include add-ons like hotel rooms. And in order to provide those low fares, the company offers several a-la-carte services, such as seat selection and priority boarding which come with fees.

(Source TBJ 2/26/15)

National home building company Pulte Home (NYSE: PHM) has purchased 36 acres of undeveloped land on Old Lead Mine Road for  $11.3 million.

The land is thought to be one of the larger infill sites left in north Raleigh.

Pulte is planning 86 single family home lots for a “new age-targeted residential community”. The property is located next to Lead Mine Elementary School on Old Lead Mine Road between Lead Mine and Six Forks roads. Pulte has not yet disclosed details for projected home prices. Based on purchase price the land was valued at $314,000 per acre.

 

(Source: TBJ 2-20-2015)

Capital Creek is a new development project by TWO Capital Partners of Atlanta. The developer has broken ground on construction of $30 million apartment complex in the Heritage golf community in Wake Forest.

The project should take 16 months to complete. New tenants may be moving in early 2016

https://www.twocapitalpartners.com

(Source TBJ 2/18/2015)

 

For more than five years tenants saw the benefits of a stagnant office rent situation and were able to rent office space with concessions and were able to negotiate what they were willing to pay.  There has been a change in the Triangle.  “Class A space has increased 3.3 percent to around $22.23 per square foot per year in 2014, and in 2015, the price hike in office rents is expected to more than double with another 7 percent increase.”

Owners and landlords of Class A office space across the market area are able to raise their rental rates due to the low level of space available. The Triangle is at its lowest level in the past 15 years at 8.9 percent.

Another factor is construction material and labor costs for new buildings. These costs are on the rise. The costs are being reflected in the higher rental rates for new construction.

“Rental rates for the new Class A office buildings currently under construction in Wake, Durham and Orange counties range from $24 per foot at Duke Realty’s Perimeter Four building in Morrisville, to $34.50 per foot at the 123 West Franklin (formerly University Square) in Chapel Hill.”

(Source: TBJ 2/13/15)

 

According to business technology website Information Week Raleigh is one of the ten hot cities for IT professionals.

The list is based on data gathered by tech jobs site Dice.com from January 2014 to January 2015.

Among metros with at least 500 job listings, the five regions with the highest job growth are:

1. Raleigh 23%
2. Portland, Oregon 21%
3. Hartford, Connecticut 14%
4. Washington/Baltimore 14 %
5. Silicon Valley 10%.

Others in the top 10 are Boston, San Diego, Dallas, Denver and Atlanta.

(Source TBJ 2/13/15)

CoStar reports “Investors both large and small remained intently focused on commercial real estate last year, as pricing levels rose in tandem with occupancies, vacancies remained near cyclical lows, and rent growth posted healthy gains across property sectors and regions. “

“Those were among the findings in the February 2015 CoStar Commercial Repeat Sale Indices (CCRSI), which analyzed commercial property sales through December 2014, providing one of the broadest measures of commercial real estate repeat sales activity. “

Major Points:

• Capital Markets Are Highly Liquid
• Pricing Gains Seen Across Property Types and Regions
  “ Among the CCRSI regional indices, the South Index led the nation in terms of price appreciation in 2014, with price growth of 15.1%”

Pricing Trends in 2014

Office: Pricing in the Office Index increased 9.5%.
Retail: CCRSI’s Retail Index posted a 13.9% increase.
Industrial: The Industrial Index advanced by a solid 11.9%.
Hotel: The CCRSI Hospitality Index surged upward by 17.7%.
Land: The Land Index gained 19.9%.

The South
“The South Composite Index increased by 15.1% in 2014, driven by strong growth across all property sectors. Price growth has rebounded in fast-growing markets like those in Texas and North Carolina that have benefited from exceptionally strong demand growth, falling vacancies and solid rent gains. The South Multifamily Index posted the strongest annual growth in the composite index, of 14.6% in 2014. “

(Source: CoStar Mark Heschmeyer,  February 11, 2015)

 

    

 

On the same day that Keller Williams announced it was the largest real estate franchise by agent count in the world, Training Magazine named the company the world’s #1 training organization across all industries. At a Feb. 9 awards ceremony in Atlanta to honor the Training 125, Keller Williams was recognized for the growth, productivity and profitability gains resulting from its world-class education and training programs.

“Training fuels all of our success,” said KW MAPS Coaching CEO Dianna Kokoszka.

Providing education to associates is a core belief of Keller Williams that drives the success of the company and its associates. Last year, the company set a goal to increase agent count by 14 percent. It finished 2014 with an 18 percent increase to more than 112,000 associates. The company’s agents also increased their sales by 17 percent to $185 billion, which resulted in a 16 percent increase in commissions earned.

Read more :

https://blog.kw.com/2015/02/10/training-magazine-names-keller-williams-1-training-organization-world/

According to job related report by Forbes, using studies from CareerBuilder and Economic modeling Specialist Inc. Raleigh ranks among metros such as Provo-Orem, Utah, Houston-The Woodlands, Sugar Land, Texas, Salt Lake City, Utah.  Fayetteville-Springdale-Rogers, Arkansas-Missouri, Austin-Round Rock, Texas ,  Port St. Lucie, Florida, . Myrtle Beach-Conway-North Myrtle Beach, South Carolina-North Carolina. Naples-Immokalee-Marco Island, Florida and Lafayette, Louisiana.

Factors in the ranking are on factors such as employment levels, unemployment rates, projected growth, job listing growth, and the availability of well-paid new jobs.

Raleigh’s rank, reflects strong growth attributed to the STEM industries – science, technology, engineering, and math.

Source: TBJ 2/12/15

 

Raleigh’s one of Five American Cities You Should Visit in 2015

According to the Huffington Post  based upon information from the Hotels.com’s pricing index Raleigh is a top five place that people are visiting.

The article sites our “southern charm” to NC State, UNC Chapel Hill and Duke. The article mentions the great dining in the area. Sited were 42nd St. Oyster Bar, Cornerstone Tavern and Beasley’s Chicken + Honey.

 

 

(Source: TBJ 2/10/15)

North Carolina is ranked first among states for its employment of women in the technology sector.

 

https://www.18stonedesign.com/ncstir/tech-report/tech-sector/women-in-it/

Source TBJ 2/9/15