News

GDP GROWTH The U.S. economy rose at an annual rate of 6.5% in the second quarter, slightly more than in Q1 but disappointing to economists expecting even healthier growth. Nevertheless, it was a clear signal that U.S. growth has broken free of the pandemic’s suffocating economic effects as the expansion pushed GDP beyond pre-pandemic levels. A year ago, second-quarter GDP plunged 31.4% before rebounding 33.4% in the third quarter with subsequent quarterly gains. The Bureau…

By Caleb Harshberger – Staff Writer, Triangle Business Journal July 8, 2021 Last year, plans for a massive redevelopment of the University Inn in Chapel Hill fell into doubt after the developers pulled out of the project amid the pandemic. Now a new group has stepped up to claim the site and this week closed on the land. Houston developer The Dinerstein Companies is making its entrance into North Carolina with the $10.6 million acquisition…

RALEIGH, N.C., June 24, 2021 – Lee & Associates Raleigh-Durham, the regional office of the national commercial real estate firm Lee & Associates, announced today that its Land Team has completed the $18 million sale of a 290.27-acre, nine-parcel land assemblage in Garner. The sellers were represented by Lee & Associates Raleigh-Durham, led by Vice President Russell Stewart, J.D.. CEO & Principal Moss Withers, SIOR, MBA also supported the sale. “I have really enjoyed working…

June 15, 2021 (Raleigh, NC) – Designed For Joy, a Raleigh-based non-profit, is expanding to a 5,000-square-foot flagship design studio at 517-A West Cabarrus Street in Downtown Raleigh. The organization was represented by Christina Coffey, Vice President at Lee & Associates Raleigh-Durham. Designed For Joy helps secure transitional work experience for women emerging from trafficking, homelessness, time in prison, overcoming addiction, and other vulnerable situations. The non-profit provides living wage work hours and helps women…

Whereas the trajectories of other commercial real estate sectors have experienced significant periods of decline, or have been topsy turvy, the story of industrial real estate has been one of success and triumph. Even during 2020, one of the most challenging years for the global economy on record, industrial real estate has not merely survived, it has excelled and thrived. These trends will continue throughout the remainder of 2021 and beyond. This report will analyze…

Closed Transactions for April 2021 Sales 130 W. Holly Springs Rd., Holly Springs, NC: Retail investment sale totaling 18,012 SF. Moss Withers, SIOR, MBA, CEO & Principal, Karah Jennings McConnell, Principal & Executive Vice President, and Cole Pennell, Broker represented both the buyer and seller in the transaction. 941 Wendell Falls Parkway, Wendell, NC: Land totaling 14.307 acres. Moss Withers, SIOR, MBA, CEO & Principal, and Karah Jennings McConnell, Principal & Executive Vice President, represented…

LEE & ASSOCIATES ADDS HIGH-PROFILE COMMUNICATIONS DIRECTOR Alyssa Byrd joins as Director of Marketing and Communications   May 24, 2021 (Raleigh, NC) – Lee & Associates Raleigh Durham, the regional office of the nationwide leader in commercial real estate services, announced today Alyssa Byrd has joined the firm as Director of Marketing and Communications. Alyssa will primarily focus on supporting communication efforts for Lee & Associates along with the firm’s Land, Multifamily and Entitlements teams….

GDP GROWTH: TRENDING IN Q1 2021 Flush with hundreds of billions of federal stimulus dollars, consumers delivered a positive jolt to the U.S. economy in the first quarter as the Commerce Department reported that GDP came in at a 6.4% seasonal adjusted annual rate. “This signals the economy is off and running and it will be a boom-like year,” said Mark Zandi, chief economist at Moody’s Analytics. “Obviously, the American consumer is powering the train…