Did you know there’s a middle ground between cramped apartment-style living and midcentury suburban neighborhood sprawl. It’s called the Missing Middle, and it’s been getting some attention lately—especially here in the Asheville MSA. Today, let’s look at what the Missing Middle is, what benefits it offers, and what it would take to have more of… Read more »
FOR IMMEDIATE RELEASE: NAI Beverly-Hanks and Allen Tate/Beverly-Hanks Close on 644-Acre Property in Henderson County February 21, 2024 (Asheville, NC)—Allen Tate/Beverly-Hanks, REALTORSⓇ, the leading real estate company in Western North Carolina, has sold a 644-acre property in Henderson County known as “Horse Shoe Mountain”. The property closed today for $15 million. Horse Shoe Mountain was… Read more »
One of the strongest features of our economy is the retail sector. However, after a series of disruptions—think: shifts to online shopping, national health and economic crises, ongoing climate migration—retail companies large and small have struggled to redirect their sales models and stay afloat. Underlying it all are the investments many have in retail real… 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 »
According to most economic experts, a recession is likely to occur in the next 12–24 months. 47% of those experts predict a recession in 2020. If those words send you running toward your safe room, you’re not alone. After the losses many people took in 2008 and its aftermath, it’s understandable to fear the “R”… 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 »
2018 Commercial Activity: According to CoStar sales data, 2018 was the best year for commercial real estate in Western North Carolina. Our four-county MSA (Buncombe, Henderson, Haywood, and Madison) saw just over $700 million in sales last year. That bested 2016’s previous high-water mark by $100 million! In comparison, the region only saw $92 million… Read more »
Q3 2018 Commercial Activity: We witnessed some significant swings in commercial real estate for Q3. The industrial sector was off 80% from the second quarter. But office business was up 34%. Retail transactions were up 71%, but multi-family was down 70%. And land closings were off 35% from what they were in the spring. Luckily,… Read more »