North Carolina - The Triangle commercial real estate market finished out the first quarter 2014 in a much better position than it’s seen in the last five years, according to results from the first quarter 2014 SPACE survey report that will publish May 2 in Triangle Business Journal.
Overall vacancy for office buildings in Wake, Durham and Orange counties fell to 15.7 percent overall in the first quarter, the market’s lowest vacancy rate since late 2008, and down from 16.2 percent in the fourth quarter 2013.
The more highly coveted Class A office buildings dropped to a 10.3 percent vacancy rate from a rate of 11.9 percent in the fourth quarter.
The highlight of the quarter was theLenovo technology company’s negotiated deal in March to lease both of the vacated Ericsson buildings on Development Drive in Research Triangle Park, effectively erasing 455,000 square feet of vacant office space in the region.
It’s the first time since the late 1990s that the RTP submarket has had a Class A vacancy rate in the single digits with a rate under 8 percent, says Ed Pulliam of CBRE-Raleigh and a member of the SPACE committee.
“These are really telling numbers for our office market,” he says.
However, the expiration of FHI’s 147,000-square-foot lease at Headquarters Park in Durham, after FHI relocated to a new building in downtown Durham, leveled the absorption numbers a bit in the first quarter.
Strong activity in the Triangle office market trickled into the flex, warehouse and retail leasing markets, which also posted positive data trends in the first quarter.
Showing posts with label Chapel Hill. Show all posts
Showing posts with label Chapel Hill. Show all posts
Friday, May 2, 2014
Friday, October 25, 2013
GROUNDFLOOR Emerges To Disrupt $240 Billion Commercial Real Estate Finance Market
Summary: North Carolina crowd-sourcing startup GROUNDFLOOR closed round one funding. This new company connects real estate entrepreneurs directly to otherwise depositors, who are looking for a better return on their savings.
Raleigh --(Digital Journal)--
GROUNDFLOOR, a progressive real estate crowdfunding startup based in the Triangle, announces the initial close of its first round of funding led by investors Bandwidth Labs and the American Underground. Harnessing the breadth and scale of the Web, the company connects independent real estate entrepreneurs with early-stage loans funded online by mass-market savers and investors. The seed capital will allow GROUNDFLOOR to bring a series of pilot projects to market in late 2013 and early 2014.
"The Web has a message for Wall Street," says Brian Dally, Co-Founder and CEO of GROUNDFLOOR. "Real estate innovators and doers frustrated with the bank underwriting status quo are ready to be unleashed. Banding together, depositors and self-directed investors can do everything traditional lenders do, but better—to the benefit of a broader base of people well beyond accredited investors and powerful incumbent financial institutions."
Leadership and Advisory Board
Co-founders Dally and Nick Bhargava built GROUNDFLOOR on a common interest in commercializing radical technologies designed to disrupt entrenched incumbents. John Austin introduced the duo in October 2012 through NC IDEA's Groundwork Labs. Dally, a 15-year veteran of technology startups based in Silicon Valley, Boston and London, most recently engineered the launch of Bandwidth.com's Republic Wireless, a provider that successfully battled the big four cellphone carriers to enter the smartphone service market. Bhargava lends expertise in securities law innovation earned during his role in developing Title III of the JOBS Act, in which he fought to ease securities regulations for unaccredited investors and bring the concept of equity crowdfunding to the mainstream.
The company also announces the addition of new advisory board members including Michael Goodmon, Vice President of Real Estate for Capitol Broadcasting; Jason Widen, a real estate developer and Executive Director and Co-Founder of HQ Raleigh; and Chris Matton, a prominent figure in the Triangle angel investor community and General Counsel at Bandwidth.com.
"Bandwidth has a culture of taking on big challenges and supporting people we believe in," says Scott Barstow, Head of Bandwidth Labs. "GROUNDFLOOR is a huge idea and we are proud to back Brian and his team, as well as creating opportunities for entrepreneurship to grow here in the Triangle."
About GROUNDFLOOR
Based in the North Carolina Triangle, GROUNDFLOOR champions democracy, transparency, speed, efficiency and freedom as the path to building a new kind of finance. The company harnesses the breadth and scale of the Web to disrupt antiquated black-box models of financing asset-backed transactions. The innovative GROUNDFLOOR platform reduces dependence upon large financial institutions and accredited investors, while making direct real estate investing a viable addition to any savings and investment portfolio.
http://www.groundfloor.us/press
Battle-Tested Team Closes Initial Seed Funding to Open Access to Direct Real Estate Investing
Raleigh --(Digital Journal)--
GROUNDFLOOR, a progressive real estate crowdfunding startup based in the Triangle, announces the initial close of its first round of funding led by investors Bandwidth Labs and the American Underground. Harnessing the breadth and scale of the Web, the company connects independent real estate entrepreneurs with early-stage loans funded online by mass-market savers and investors. The seed capital will allow GROUNDFLOOR to bring a series of pilot projects to market in late 2013 and early 2014.
"The Web has a message for Wall Street," says Brian Dally, Co-Founder and CEO of GROUNDFLOOR. "Real estate innovators and doers frustrated with the bank underwriting status quo are ready to be unleashed. Banding together, depositors and self-directed investors can do everything traditional lenders do, but better—to the benefit of a broader base of people well beyond accredited investors and powerful incumbent financial institutions."
Leadership and Advisory Board
Co-founders Dally and Nick Bhargava built GROUNDFLOOR on a common interest in commercializing radical technologies designed to disrupt entrenched incumbents. John Austin introduced the duo in October 2012 through NC IDEA's Groundwork Labs. Dally, a 15-year veteran of technology startups based in Silicon Valley, Boston and London, most recently engineered the launch of Bandwidth.com's Republic Wireless, a provider that successfully battled the big four cellphone carriers to enter the smartphone service market. Bhargava lends expertise in securities law innovation earned during his role in developing Title III of the JOBS Act, in which he fought to ease securities regulations for unaccredited investors and bring the concept of equity crowdfunding to the mainstream.
The company also announces the addition of new advisory board members including Michael Goodmon, Vice President of Real Estate for Capitol Broadcasting; Jason Widen, a real estate developer and Executive Director and Co-Founder of HQ Raleigh; and Chris Matton, a prominent figure in the Triangle angel investor community and General Counsel at Bandwidth.com.
"Bandwidth has a culture of taking on big challenges and supporting people we believe in," says Scott Barstow, Head of Bandwidth Labs. "GROUNDFLOOR is a huge idea and we are proud to back Brian and his team, as well as creating opportunities for entrepreneurship to grow here in the Triangle."
About GROUNDFLOOR
Based in the North Carolina Triangle, GROUNDFLOOR champions democracy, transparency, speed, efficiency and freedom as the path to building a new kind of finance. The company harnesses the breadth and scale of the Web to disrupt antiquated black-box models of financing asset-backed transactions. The innovative GROUNDFLOOR platform reduces dependence upon large financial institutions and accredited investors, while making direct real estate investing a viable addition to any savings and investment portfolio.
http://www.groundfloor.us/press
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