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Commercial Real Estate

Permit plunge (access required)

Building plans heads together

Last year was a historic one for Charlotte, thanks to its hosting of the Democratic National Convention, an event which put a national spotlight on the city. The event didn't just give the city more media attention. In a year when the construction industry was still in recovery mode, the DNC contributed to the city's commercial construction permit numbers as Time Warner Cable Arena and other venues had to be readied for the event. That resulted in a flurry of permit applications in early 2012, county officials say.

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Renovation Report: Saddle Up Saloon & Dancehall (access required)

saloonWEB

Carl Nordhielm isn't used to doing large-scale renovations before opening one of his company's nightclubs. Nordhielm, chief financial officer of Saddle Up Saloon & Dancehall, said the company usually moves into former clubs or restaurants, places where, usually, hardly any construction is needed to open a Saddle Up.

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13 to watch in ’13: Parkway Properties (access required)

NASCAR Plaza is among the buildings Parkway Properties owns in Charlotte.

Few in Charlotte' commercial real estate industry saw Orlando, Fla.-based Parkway Properties coming in 2012. Sure, Parkway was already well established in the Charlotte market. But, according to Andrew Jenkins, it was known as a company that bought mostly Class B office space, looking to make improvements, decrease vacancy rates and drive up tenants.

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Commercial Confidential: Mint Hill Festival (access required)

Derrick Taub, vice president for Toronto-based Sierra Group, said the sign on Matthews-Mint HIill Road for Mint Hill Festival is 'plain vanilla' and needs to be changed. Photo by Payton Guion

Derrick Taub thinks his company just bought the best location in town -- the town of Mint Hill, that is. Taub, vice president of Toronto-based Sierra Group, which this month bought the Mint Hill Festival shopping center for $2.5 million, said he thinks Sierra's first property purchase in the Charlotte market couldn't be better positioned in the town.

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13 to watch in ’13: REBIC and Raleigh (access required)

PADILLA: The Real Estate and Building Industry Coalition is concerned the General Assembly might pass bills this year that could hurt the real estate industry.

You’re either fer it, or you’re agin it, as they say in the mountains of western North Carolina, and that’s true of possible legislation that REBIC will either back or oppose this year on the other end of the state in Raleigh, where the state legislature is in session.

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Analyst: Harris Teeter likely won’t sell to competitor (access required)

grocery aisle

Matthews-based grocery chain Harris Teeter likely won't be bought by a competitor nor is it likely that, if it's bought, its stores will then be sold off one by one, a Charlotte-based retail industry analyst says. Andy Misiaveg, partner at the Charlotte office of the Atlanta-based The Shopping Center Group, said he doesn't expect many grocery chains to be interested in buying Harris Teeter because they probably wouldn't be able to afford to.

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