Category: Market Reports

Commercial Real Estate Forecast The commercial real estate industry is, as a whole, continuing on an upward trajectory. Ongoing focus on vaccinations as consumers turn toward travel and in-person interactions is aiding the industry’s recovery. However, some sectors are recovering more quickly than others. The industrial and multifamily sectors are burgeoning, while the hospitality and… Read more »

Commercial Real Estate Forecast Commercial real estate experts are encouraged by the industry’s ongoing recovery from the pandemic. Retail providers continue to pivot to meet online demands, shift their strategy to a proactive have-it-to-send-it model, and keep shelves stocked. Thanks to this activity, warehouse space, fulfillment centers, data centers, and logistics needs are still flourishing…. Read more »

Commercial Real Estate Forecast The commercial real estate market is currently in a relatively stable state, given the effects of 2020 on key sectors. Despite a brutal drop in tourism in Western North Carolina and related blows to small businesses dependent on those tourist-fueled door swings, annual gross rents dropped by only 1.3%. According to… Read more »

Commercial Real Estate Forecast The commercial real estate market is diligently trying to recover. All eyes are on the pending stimulus package to provide renewed relief to consumers, tenants, and struggling real estate sectors. Many small businesses, restaurants, and local tenants are reaching the tipping point, as the fourth quarter currently marks the end of… Read more »

How is the Commercial Real Estate Market? Predictions for the commercial real estate industry in the second quarter of 2020 were far from optimistic as the full economic impact of COVID-19 rolled through the market. With lockdown orders in place, the industry stalled abruptly and professional efforts turned to assisting landlords and tenants navigate the… Read more »

Q1 2020 Commercial Activity: Predictions for the commercial real estate industry were conservatively optimistic at the start of the year. In our Year End 2019 Market Report, we indicated that a robust first quarter was unlikely, which was confirmed in some segments by the first quarter’s data.  Entering an election year, coupled with ongoing trade… Read more »

Year End 2019 Commercial Activity: 2019 was the second best year for commercial real estate in Western North Carolina, trailing only 2018. The four-county MSA reported just over $595 million in 2019 sales. In contrast, the region experienced only $92 million in closed transactions a decade ago. In 2019, all sectors reported strong sales, with… Read more »

Q3 2019 Commercial Activity: The sale of two apartment complexes in Asheville accounted for almost $125M of the $278M in commercial transactions for the third quarter. The District, located on Fairview Road near Biltmore Village, sold for $71,500,000. Skyland Exchange, located off Long Shoals Road in Arden, sold for $52,750,000. With 309 units, The District… Read more »

Q2 2019 Commercial Activity: The bullets below tell the story: All categories were slightly off in Q2 2019 as compared with Q2 2018. The one exception was land, which was up 10%.  There were 124 closings in all sectors in quarter two for $121.8 million, compared to 186 sales for $181.2 million in Q2 2018…. Read more »

Q1 2019 Commercial Activity: Commercial sales transactions were sort of a mixed bag in Q1 2019. We saw 160 closings in the first quarter for $197 million compared to 160 closings in Q1 2018 for $290 million. In contrast, our median year-over-year sales price was very similar ($102/ft versus $107/ft). That tells us that there… Read more »