Commercial Investment Real Estate

NOV-DEC 2017

Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.

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COMMERCIAL INVESTMENT REAL ESTATE 40 November | December 2017 North Carolina's Biggest Deal On the north side of Chapel Hill, N.C., the more than $100 million Carraway Village has proposed building up to 837,000 sf of new multifamily, retail, office, and hotel space on 55 acres, with as many as 23 low- and mid-rise buildings. The community is poised to transform the city's semi-rural northern border and attract multiple regional visitors. "Our vision for the project has always been to create a lifestyle destination on the north side of town, with a mixture of uses, with options to live, work, and play," says Adam Golden, vice president of development for Carraway Village developer Northwood Ravin. Divided into three phases, Golden expects the first $70 million phase to be completed in fall 2018, including 400 apartment units in 10 buildings, 8,400 sf of ground-floor retail stores, and the community's social hub, the 16,000-sf Village Green park area. REGIONAL O U T L O O K jeremyiswild/Getty Images Visit Denver { S O U T H E A S T } Orlando's Robust Industrial Market Hums Along 2Q 2017 108.6 msf Total inventory in the Orlando, Fla., industrial market 1.8 msf Direct net absorption for H1 2017 6.88% Overall vacancy $6.28 psf Average rental rate for industrial space in Orlando on a triple-net lease Source: Avison Young RiNo, or the River North Arts District, has become Denver's hot neigh- borhood due to urban renewal, special tax districts, and its robust arts community, according to JLL. The transformation of an iron foundry into a specialty food market called The Source, a new boutique hotel, food market halls, and an upscale residential community are changing its landscape quickly. The Denver Central Market showcases its culinary scene, and many creative businesses have relocated to RiNo. { S O U T H E A S T } { W E S T } Denver's Arts Community Spurs Urban Renewal

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