April 30, 2009
The News and Observer
…During the same period, the region’s apartment vacancy rate climbed to a six-year-high of 10.3 percent, up from 9.2 percent a year earlier, according to new data from the Triangle Apartment Association/KARNES.
As more units stayed empty, landlords slowed rent increases and started offering more perks, such as free months of rent…For now, “property managers are being a little more aggressive in retention,” said Brian Reece, managing partner at Karnes Research, the Raleigh firm that collects data for the apartment association. “But they’re not going to give away the shop.” Meanwhile, there’s competition from single-family homes for rent and, increasingly, those for sale, as prices drop and incentives for first-time home buyers take hold…”We’re going to see rent growth slow down,” Reece said. “And we’re going to see creative concessions coming back to the marketplace.”…
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Triangle landlords deal to lure and retain renters
April 30, 2009
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Triangle awash in office space
April 23, 2009April 23, 2009
The News and Observer
A wave of empty offices splashed across the Triangle during the first quarter as the demand for space waned amid a deepening recession…”But we’re now going to see it going to zero,” said Brian Reece, a partner at Karnes Research, a Raleigh company that analyzes the Triangle commercial real estate market. “No new projects are going to be starting.”…..
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Drugmaker Pozen extends lease in Chapel Hill
February 20, 2009February 20, 2009
The News and Observer
…The Triangle’s office vacancy rate climbed to a three-year high of 14.5 percent at the end of 2008, as companies have cut back or closed down, according to Karnes Research of Raleigh. In the Chapel Hill area, the rate climbed to a five-year high of 15.9 percent, up from 10.5 percent a year earlier….
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Construction Update: Imperial Plaza RTP
January 26, 2009
January 2009 Construction Update
January 2009 Construction Update
Construction is nearing completion on Imperial Plaza, the 10-story, 252,000-square-foot office building off I-40 at Page Road. The development, which is being construction by Triangle-based Tri Properties, will also feature a 207-room, eight-story Westin Hotel. The office space will serve as the global headquarters for Quintiles Transnational, a medical research company.
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Warehouse demand slows in Triangle
December 18, 2008December 18, 2008
The News & Observer
Most people would probably agree that the pain and turmoil of today’s economy is hurting more than the technology bust during the early years…
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