also may benefit
from the national attention it received while hosting the Democratic National
Convention in September, according to the latest report by Queen
City Cushman & Wakefield / Thalhimer.
“Several large corporate relocation candidates are now rumored to be interested in the region,” the report says. Investors also remain interested in the city, with well-capitalized investors eyeing office properties including
Centre, and Parkways’
six-building suburban office portfolio. ArrowPoint
Investors are also interested in
market. Last quarter, STAG trial
Inc., for example, completed two acquisitions, one in Pineville and one in
Huntersville. Two large, long-vacant buildings were bought: Indus Beacon
Partners bought the UAV Building in
and The Silverman Group acquired the former Lucent building at Fort l l Mi 10000 . Twin
Office vacancy rates dipped to 12 percent during the quarter from 13.1 percent during the same time last year. Direct asking rents rose nearly 4 percent to $18.94 per square foot a year.
vacancy rated dipped slightly to 11.8 percent.
The area will still struggle as developers and investors wait before making long-term decisions to see how the
U.S. political landscape and
economic climate unfold during the next few months.
Tenants will also try to negotiate for good deals, including cheaper rent and extended lease terms, but will have increasing trouble doing so as vacancy shrinks.
side, the firm expects to hear or two to three new “sizable” investment sale
transactions and build-to-suit projects.
But continued softness in leasing demand and uncertainty in global
economy will keep developers cautious in moving forward, the report says.