Author: Manager

The Impact of Technology and Social Media on the Commercial Real Estate Industry with Brenda Dohring Hicks

Submitted by: Mary Wilken

Who you missed: Brenda Dohring Hicks is CEO of The Dohring Group, a commercial real estate appraisal, brokerage, & technology company with a focus on urban office and retail properties.

Brenda founded The Dohring Group in 1992 to specialize in appraisal services and consulting. The firm expanded services to include brokerage with an urban focus and development of office and retail projects for personal/corporate use. Headquartered in downtown Tampa, the company’s efforts are focused on financial institutions and investors who demand high touch, high-quality services. The Dohring Group’s consulting services cover feasibility, highest and best use studies, ad valorum tax representation and litigation support and comprehensive due diligence services for individual properties and portfolios. In recent years, the firm has been instrumental in assisting its long term banking clients work through their real estate loan portfolios.

Brenda is also the founder and CEO of RealWired!, a consulting and software company, including YouConnect, a web-based appraisal and vendor management solution; DataComp, the #1 in-house commercial comparable management software on the market today; EDGE, a powerful report writing tool; and Manager, a cloud-based commercial appraisal workflow application that can be accessed from any browser. Brenda’s mission is to “streamline the commercial real estate process” by focusing on process and collaboration.

Brenda is a frequent speaker focusing on the value of building “eco-systems” of cooperation and examining processes and technology’s role in enhancing communication to expedite growth. As a former speaker with CREW, we were pleased to have Brenda back to talk to us about social media and what we need to know.

What you missed:  If you’re not “doing” social media, it is okay – neither are most of your competitors!  Commercial real estate practitioners are one of the largest laggers in using technology. Brenda also shared that social media is evolving into its own industry and that in our individual roles, it is typically not part of our industry – thus our excuse not to be fully engaged.

As with most things, Brenda shared that to make it effective, it MUST be done with a plan.   If you don’t have a plan, your social media becomes a significant waste of time.

It has been estimated that 70% of all adults in the United States are using some form of social media, however most of this use is considered to be personal.  To transfer this to effective business use, social media options should be seen as a means of communication.  As millennials continue their entry and expansion into the business-world, use of social media applications will be a platform that can be used to bridge the communications gap.  Technology is needed for growth, but Brenda is fond of saying, “it’s about the people, stupid”…meaning that technology exists for the people and should be utilized as a tool.

Technology can and should be  used for market research through such applications as crowd sourcing.  Crowd sourcing can be looked at for data gathering as well as for lending options.  Brenda believes that lending opportunities though crowd sourcing will become much more utilized in coming years.

A question was raised relating to LinkedIn and the number of connections individuals have.  Brenda shared that in connections, more is not necessarily better.  She equated it to flying – the difference between thrust (the power, or number of connections) versus vector (direction/scope, or the quality of the connections that  you have).

Brenda shared statistics related to CREW Charlotte’s social media applications.  While Facebook, Twitter and Instagram reach is limited, we are doing well through LinkedIn and Brenda felt that that is positive for CREW Charlotte and for our members.  She implied that we would be well served to focus our social media efforts in that direction.

The Riverwalk Vision with David Williams of GRH Development Resources

Submitted by: David Rushing

Who you missed: David Williams, Managing Director of GRH Development Resources. David is a 25-year real estate and construction professional who oversees all aspects of the company’s development and construction projects. Dave has completed over $300,000,000 in residential, mixed-use, industrial and office projects throughout the Midwest, Georgia, Tennessee and South Carolina. Additionally, he is responsible for managing community relations, permitting and design, and overseeing the company’s project managers. He is also active in business development, property management, working with various agencies to attract additional users to the Riverwalk development, and shared responsibilities for financial institution relationships.

David holds a B.S. in Business Administration from Miami University and a M.S. in Environmental Science & Engineering from Ohio University.

What you missed: "Creating a Vibrant Development Through A Public Private Partnership" was an overview of the Riverwalk development located near the I-77 corridor at the N. Cherry Road interchange on the Catawba River in Rock Hill, SC. David told us about the entire project from start to finish. The property was previously owned by Celanese Corporation of America and operated as a cellulose acetate plant until 2005. In addition to cellulose acetate (a synthetic fiber widely used in the textile industry), Celanese also manufactured bulk chemicals including methanol and formaldehyde, and used large amounts of acetone and benzene to reuse the acetic acid used in the manufacturing process. The facility was self-sufficient and included a power plant, water filtration plant, raw water intake, wastewater treatment plant and landfills, and, at one point, the 2.5 million square-foot facility employed over 2,500 employees. The project included the search and closing on the property(1000 acres zoned for industrial), 2-year demolition and remediation, rezoning, a private/public partnership (detailing scope scale, cost & density needs), filtering through site environmental and physical restraints, utility needs, traffic and access, market studies and a charrette (an intense period of designing or planning) with local politicians, companies and citizens. Riverwalk is now home to several subdivisions with homes by residential developers including Saussy Burbank, Evans Coghill, and Chesmar Homes. Also in development are 300 high-end apartments along the Catawba River. The Giordana Velodrome which hosted the 2012 US Cycling Championships and a BMX Supercross Track are on the property. A YMCA is being constructed to overlook the Giordana Velodrome. In addition, ground breakings are planned for a 1,000,000 square-foot distribution center and a 100,000 square-foot facility providing 360 high-paying jobs. An events center provides wedding receptions and other communal events along the Catawba River and the Riverwalk Trail, a 2.5-mile corridor along the Catawba River, provides hiking and biking opportunities for residents and connects to numerous mountain bike trails within the development. The former TSD post closure units are being developed into baseball and soccer fields that adjoin the residential developments.

Why: The overall goal of the project was to transform a former industrial complex and Resource Conservation and Recovery Act (RCRA) Treatment, Storage, and Disposal (TSD) facility into a new mixed use, residential, commercial, and industrial complex. The new Riverwalk development would help catalyze economic redevelopment opportunities in the entire region, while incorporating the natural beauty and surroundings of the adjoining Catawba River. Furthermore, each project stakeholder had individual goals within that overarching goal:

• Private goals were to address an estimated $45,000,000 environmental legacy and develop a community distinguished by over three miles of river waterfront and a planned mixed use development consisting of authentic housing, shopping, entertainment, office, and schools.

• Public goals for City of Rock Hill were to cause redevelopment of the former industrial site, replacing the loss of high-wage manufacturing jobs and loss of tax base; and

• Public goals for the State of South Carolina regulatory agency and U.S. EPA, to successfully support the redevelopment by providing a cooperative and open dialogue to address the environmental legacy economically and quickly, in order to support the successful (job creation, economic activity and taxes) and protective (mitigation of human health and environmental risks) redevelopment of the site.

How: The project was funded without access to commercial financing and had to rely solely on investor equity, salvage recovery, tax incremental financing, and by the use of bond generated funds to install the infrastructure. These funds were needed to cover the $9,000,000 demolition, $3,000,000 remediation, and $50,000,000 infrastructure costs.

Securing the necessary financing for the project required over two years of creative planning, as well as extensive negotiations with multiple local and state entities.

For more information please visit: http://www.brownfieldrenewal.com/renewal-award-project-environmental_impact-riverwalk-24.html. where excerpts of this summary were used.

Sky’s the Limit for Higher Education in the Center City

Who you missed: A panel discussion led by Moira Quinn, Senior Vice President of Communications and Chief Operating Officer for Charlotte Center City Partners. The Panel was Dr. Cheryl Richards, CEO and Dean of Northeastern University Charlotte, Jerry Coughter Executive Director of UNC Charlotte Center City and Joanne Beam, Director of Wake Forest University Charlotte.

Dr. Cheryl Richards began her career in higher education 25 years ago at Colorado State University and has since held leadership posts with the University of Denver, Regis University, EDUCAUSE and Central Piedmont Community College. Dr. Richards has twice been recognized by the Mecklenburg Times as one of Charlotte’s “50 Most Influential Women” and was honored in 2014 as “Woman of the Year.” The Charlotte Business Journal recognized her as a “40 Under Forty” leader as well as one of the “Top 25 Women in Business.” A frequent presenter and speaker, she has also served as guest host for Carolina Business Review.

Dr. Richards holds a bachelor’s degree in Speech Communication, master’s degree in Student Affairs in Higher Education and Ph.D. in Leadership for Higher Education. She and her husband of 20 years are proud parents of two children.

Jerry Coughter climbed Mt. Kilimanjaro in 2013, helping raise $60,000 through the Rotary Club for Polio victims. In addition, he serves on the Board of Directors of Hope Haven and is an alumnus of Leadership Charlotte (Class 33). In that capacity Jerry serves as a member of the Alumni Group’s Education Committee, helping to bring informative programing to the community on topics including healthcare and civil discourse. Jerry holds a BS in Molecular Biology from Clemson University, an MS in Microbiology & Immunology from Virginia Commonwealth University, and an MBA from the Byrd School of Business at Shenandoah University. He is a doctoral candidate in Science & Technology Policy at the George Mason School of Public Policy. Jerry is a Grade 8 level referee with the United States Soccer Federation and officiates youth soccer matches in North and South Carolina and Virginia. He is the father of two teenage daughters.

Joanne Beam is an active volunteer who currently serves on the board of Good Friends (in Charlotte) Board of Trustees of the Charlotte Latin School, and the Executive Committee of the Association of Philanthropic Council. Beam is well connected within civic and University circles. Recently The Mecklenburg Times named Beam one of “The 50 Most Influential Women.” In 2013, she was named one of the Charlotte Business Journals “25 Women in Business.” In 1998 she was named one of the “Forty Leaders Under Forty” in the Piedmont Triad. Beam grew up in Lancaster, Pa., and moved to North Carolina to earn a degree in business from Wake Forest University.

Moira Quinn’s background revolves primarily around media and management. Moira started at WBTV, the CBS affiliate in Charlotte, as a college intern. She became a studio cameraman and was the first woman in Charlotte to work as a full-time TV news photographer. During the ‘80’s Moira co-hosted, produced stories for and served as interim producer on the TV show PM Magazine. She is a graduate of Queens University of Charlotte where she is Trustee Emeritus and on the Board of Advisors for the Knight School of Communication. Moira has also served on the Board of Trustees and the Alumni Association where she was President during the University’s Sesquicentennial. She has two sons and two grandchildren.

What you missed: The Growth of Higher Education in Center City and why UNC Charlotte, Wake Forest and Northeastern chose Uptown Charlotte. The discussion centered around 1) how and why these institutions chose Charlotte, 2) how and/or why they chose new or existing facilities, 3) the type of student that is attracted in an urban setting, and 4) how these students impact Charlotte’s growing population post graduation.

Why: Having campuses in Uptown Charlotte has created a dynamic educational outlet for today’s working professional. Being in the middle of the Charlotte metro area enables institutions of Higher Learning to offer advanced degrees with a high level of convenience for these professionals. They can work and provide the wage to their families and further advance their careers by attaining these advanced degrees. Uptown Charlotte, while initially skeptical of their new neighbors, has embraced the Universities and the students by getting involved in community service programs and working together to keep uptown vibrant and desirable. Jerry Coughter remarked, “we would not be successful if only the school was getting into Charlotte, we also needed Charlotte to get into UNCC.”

Charlotte's Economy and Where We are Going with Johnny Harris

Johnny Harris 
John W. Harris formed The Harris Group in January 1992, and in 1999 formed LincolnHarris, an affiliate company of Lincoln Property Company. Johnny is responsible for development and management of over 20 million square feet of property throughout the Southeast and was formerly President of The Bissell Companies, Inc., a major commercial real estate and investment management company.

Johnny, a lifelong Charlotte resident, has served on numerous boards including Piedmont Natural Gas, USAir, Inc, and the National Collegiate Athletic Foundation (NCAA) and has served on the Airport Advisory Committee, NC Department of Transportation and the Charlotte-Mecklenburg Hospital Authority. He is also a past Chairman of the Charlotte Regional Partnership, UNC-Chapel Hill Board of Trustees, NCAA Final Four Charlotte Organizing Committee, Charlotte Chamber of Commerce and the Charlotte Sports Commission.

Opening Remarks
Johnny opened his remarks to the crowd of over 225 by sharing that there is no better place to be than Charlotte. With unemployment figures down below 5.5%, with more employees at both Bank of America and Wells Fargo than in 2007, with a greater influx of Millennials into the Queen City and with $750 million in active construction projects in one submarket (SouthPark), this is the “beginning of our golden years”.

Protecting Our Airline
Johnny urged the crowd to work to protect Charlotte’s hub status with American/USAir. The fuel tax break that American receives needs to be extended. He shared that while the $6 million tax break sounds large, the economic impact received from that tax break is over $1.6 billion dollars to our region.

These breaks keep Charlotte attractive and provide us the ability to maintain that hub status. Charlotte Douglas has 683 average daily departures, over 40,600,000 passengers in 2014 (2.3% increase over 2013) and nationwide ranked 6^th in movements/operations and 8^th in passengers for 2013…

It is 1978 and We’re Atlanta
Airline deregulation sparked Atlanta’s growth.

Johnny outlined that whether you are pro or anti fracking, you have to admit that due to the lowered fuel costs, we are at the beginning of twenty-five years of great economic development.

The prior six year slow down is now fueling extreme demand, not only in multi-family but also in office. He described Ballantyne (and Smoky Bissell) as one of very few places in the country with significant development over the past six years, but said they eventually are going to run out of land.

SouthPark has $750 million in active construction, with another half-billion coming in the next eighteen months.

What is next? Look between the airport and the river. Johnny cites it as the only place with “big land”….. and “big land brings big users, and that is good”.

Well, Not Really Atlanta
We’re growing and we are the place people want to be. Economic Growth, Employment Growth and Millennial Migration – it is all Charlotte.

What Other Things Should We Pay Attention To?
The Intermodal Facility opened last year within the airport footprint and doubled the capacity of Norfolk Southern's prior uptown facility …. But it is already full.

Talk of a High Speed Train at the State level for a connection between Raleigh, Charlotte and Atlanta …. Possibly a privately funded railway (similar to plans for a line between Orlando and Miami).

Medical Services are now the 3^rd largest sector in the Charlotte region.

Anything to Worry About?
When asked what concerns him, Johnny didn’t have too much to worry about but did mention the need for strong leadership in Charlotte and in North Carolina. He mentioned running out of viable sites for construction as well as the need to make sure that the quality of what is being built remains a priority.

Final Thoughts
Johnny’s final thoughts were that regardless of where in the country someone lives, if they really do their homework, Charlotte is the place they should strive to be. It is about quality of life and with our proximity to the mountains and the ocean, our airport, cost of living, and job growth, the quality of life in Charlotte is pretty good.

He also shared that had he and his five member operations committee at Lincoln Harris been at a CREW luncheon 25 years ago, they would not have fit in without any women in that group; but today, two of the five positions are held by women and he seemed to imply that CREW probably helped that along!