Luncheon Summary

CREW Charlotte October Luncheon: A Detailed Look at the New 615 South College Street Project

Who you missed:  The panel was moderated by Chad Martin Vice President of Holder Construction Company.  The Panel members were:

Norris Hunt – Vice President, Senior Project Manager, John Portman & Associates
Eric Hampton – Engineer, Kimley Horn
John Ball – Senior Leasing Agent, Trinity Partners
Travis Garland – Director of Leasing, John Portman & Associates  

What you missed:  This speculative office tower has broken ground and will encompass 375,000 square feet with a 1600 space parking garage.  The completion date is slated for the first quarter of 2017.  The conversation began with a video overview that you can watch here:  https://www.youtube.com/watch?v=4tBwuzpV7YY

The vision for this project began differently than the final plan for office space adjacent to the Westin Hotel.  When John Portman & Associates developed the Westin they had always planned a mixed use project next to Westin.  As the market turned south the plans were put on the back burner.  In 2012 (vacancy at 12%) they began dusting off the plans, switching gears towards office space only and a 1600 car garage (3/1000).

This project, and surrounding construction projects, can help shape the future of  Charlotte by creating an entry area into Uptown from Southend where people can get to work easily by rail or drive and park with the plentiful parking.  There is a purposeful strategy in staying away from retail as Stonewall Street will become a shopping hub over the next few years.

The growth in this Southern sector means that small, medium and large companies can have Class A office space with a fresh, yet consistent look and feel, open or “collision zones” for staff interaction, balcony space (if desired), convenience of light rail or traditional commuting all at the Southern Gateway of Uptown.

There were many challenges from start to present in bringing this project to the table.  The market justified the project in 2012.  The equity was there, but the debt to take on a speculative project was a big risk.  The use of non-traditional lenders enabled the project to move forward in that climate without having to prelease a large amount of space. 

The physical project is hemmed in by the light rail and a parking deck.  Looking at these two encumbrances as an asset has allowed for creativity in making the destination desirable for commuting by car or public transport.   

The suburban South Charlotte Market has been a challenging competitor for the Uptown market over the last few years.  This location will attract those that normally would have not considered the Uptown market.  Additionally, the cost per foot will compare favorably and will continue to highlight Charlotte as a less expensive urban office destination for relocating companies than other markets like Atlanta and Denver.

The Charlotte market is healthy, with a more diverse ownership of portfolios created by recent movement of properties.  This project can help set the stage to draw a fresh clientele to the Uptown while helping spur growth in the Southern sector for office, retail and help continue to draw South End towards Uptown. 

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!

2015 Outlook for Charlotte Metro and the Carolinas with Frank Warren of Kimley-Horn

Frank Warren, CRE, is a Senior Economist with Kimley-Horn and Associates. With over 25 years of real estate market research, appraisal, and development experience, Frank brings a uniquely comprehensive perspective to consulting assignments. Developer and investor clients rely on his insight to determine demand for commercial and residential projects, and to recommend specific concepts to maximize marketability and value. Frank also works on a wide variety of comprehensive planning and economic development assignments for local governments.

Charlotte’s New Normal? How shifting location preferences and infrastructure investments are driving new development patterns. Frank began his presentation by discussing all the changes that have shaped the City of Charlotte since 1964 including four interstate highways, two airport terminals, three UNC-C campuses, three baseball stadiums, three basketball arenas, the return of rail transit, and the dissolution and rebirth of Center City. Recent job growth in the Charlotte MSA (metropolitan statistical area) was heavily focused in Mecklenburg County, further enhancing it as the employment center of the region. Although, suburban job growth, primarily focused in York and Lancaster counties, has been facilitated through affordable land, state incentives, and business-friendly tax rates.

Demographic shifts are impacting location choices that households and employers are making. Nationally, household formation has dropped dramatically from a peak of two million new households per year to a trough of 500,000 during and following the Recession. The region’s renter household growth has been strongly focused in Mecklenburg County, representing not only organic growth but also pent-up renter demand. Millennials, born between 1980 and 2000, will continue to shape real estate. They generally value experiences over possessions, drive less, are always connected, and are increasingly diverse. They also face challenges like student debt, jobs, and incomes.

These employment and demographic shifts have impacted the real estate market throughout the region. Apartment growth has been heavily concentrated in a few submarkets in Mecklenburg County, primarily urban or with access to retail or transit opportunities. Similarly, office and retail vacancy rates and rent growth trends are strongest in urban locations. Development of new office space will likely emerge along the south corridor light rail line in the next five years. Older product in Midtown, Cotswold, Park Road, and Southpark will start to redevelop.

Key Takeaways:

• Divided Economy . Growth is accelerating in states and metropolitan areas with educated workforces and at least 18-hour urban cores; the balance of the country is trying to remain relevant.
• Mixed-Use Success . Demographic patterns, lifestyle preferences, and a focus on sustainability will continue to make mixed-use developments attractive.
• Suburban Redux . With downtown urban areas thriving, suburbs are the next great opportunity.

2014 Excellence Awards

CREW Charlotte celebrated an exciting year at the final luncheon of the year. We spent the afternoon recapping the successes of 2014 and honoring our members. Six members were presented awards for their outstanding contributions. The awards spanned from “Member of the Year” to “Networker of the Year” to “Deal of the Year.” The afternoon’s highlights are as follows:

· Rising Star Award: Emily Buehrer with BLOC Design received the Rising Star award for her extraordinary contributions through her involvement in the Communications Committee and advancement of CREW’s social media presence since becoming a member in March.

· Member of the Year: Whitney Bauman, Marketing and Business Development Manager with MSS Solutions, was honored as Member of the Year, an award that recognizes a CREW member who has made an outstanding contribution to the chapter in 2014. Whitney was an active participant on the Programs Committee and co-chaired the Queen City in Pink Committee. Through her efforts, CREW Charlotte’s Queen City in Pink campaign had a record year with over 275 participating buildings.

· Networker of the Year Award: This award was presented to Carrie Sharp, Sales Partner at Indoff Commercial Interiors, for her demonstrated efforts as a master networker actively sending referrals and business to other CREW members.

· Outreach Award:: Past CREW Charlotte President, Margaret Martin, CFO, MECA Realty received the Outreach award due to her service and promotion of the success of women in commercial real estate.

· Deal of the Year:This award recognizes a CREW Charlotte member who spearheaded a commercial real estate transaction including multiple CREW members and best exemplifies the capability to handle a commercial real estate deal from start to finish. The award was presented to Cristy Nine, Vice President and transaction manager of CRESA, for completing the US Synergetic corporate headquarters relocation project in Fort Mill. Under an exceptionally tight deadline, the project team, which involved eight CREW member companies, delivered.

· President’s Choice Award: This CREW member or company made contributions throughout the year that were vital to the ongoing success of the chapter. It was presented to Wanda Townsend with Johnston Allison & Hord. Both Wanda and Johnston Allison & Hord have provided long-running contributions, and have been instrumental in the success of CREW Charlotte.

Lack of Available Space in the Charlotte Metro Area

Who you missed: Ronnie L. Bryant, CEcD, FM, HLM is President & CEO of the Charlotte Regional Partnership. Mr. Bryant leads the team that promotes the 16-county Charlotte USA region throughout the world as a premier location for businesses considering expansion or relocation. Mr. Bryant has more than 20 years of technical, managerial and economic development expertise, and a proven track record of establishing and implementing successful economic development programs. He specializes in existing industry expansion and retention, with a strong emphasis on regionalism and marketing

What you missed: Evolution of Economic Development in Charlotte: Mr. Bryant discussed three key elements that need to be on everyone’s radar screen as we consider economic development:

• Structure: When considering the delivery of economic development services in our region, what has changed and what should we be doing differently to continually challenge ourselves to raise the bar and break down barriers?

• Focus: We have to be laser focused, because our competition is. We need to understand how to meet the needs of existing businesses; the resources that are necessary to recruit new businesses; and how we can encourage entrepreneurs to choose the Charlotte region to implement their new ideas.

• Space: Everything in economic development has a real estate component. In today’s competitive market, timelines for providing space with proper square footage, zoning, infrastructure, etc. is very tight. We need to have options for real estate that already meet the needs of potential businesses in order to be competitive with other regions.

If we can continue to understand these three principals and get them right, the Charlotte region will continue to attract the economic development we need to sustain our community and remain competitive for the long haul.

Why: Executing economic development as a single jurisdictional unit by itself is a setup for failure. By combining the resources of the various jurisdictions within the 12 North Carolina and 4 South Carolina counties that comprise the Charlotte region, we can gain an advantage in competing against other regions. The next evolution of economic development for Charlotte will be the creation of a Piedmont – Atlantic mega region, combining the resources of the Carolinas, Georgia, Virginia and parts of Alabama. This will allow the southeast to compete with the northeast and northwest where mega regions have already been formed to pool resources in attracting new business to larger regional footprints. We can no longer see Atlanta as our competition. 

Critical to the evolution of economic development is understanding the role that the evolution of the real estate landscape plays in supporting business development and retention. Mr. Bryant believes that the Charlotte region’s best years are ahead if we do not become complacent, but instead work together to ensure that the resources, including space in the form of appropriate real estate opportunities, are available as recruitment tools for attracting new investment in our region.

Business Imperative for Future Organizational Success

Who you missed: Valerie McMurray, Human Management Consultant and Board Certified Executive Coach with the NorthStar Consulting Group. Valerie has dual Masters of Science in Organization Develpment and Executive Coaching from McColl School of Business at Queens University. She is an Associate Certified Coach through the International Coach Federation and Board Certified Coach through the Center for Credentialing and Education. She has been trained/certified in a variety of assessment and leadership programs including Myers Briggs Type Instrument, FIRO-B, Herrmann Brain Dominance Instrument, WorkPlace Big Five Profile, MSCEIT, Gallup, DISC, CareerLeader, Servant Leadership, Staub Leadership, and Wilson Learning Systems.

What you missed: If you missed our last CREW luncheon, you missed an excellent presentation by Valerie McMurray entitled “Business Imperative for Future Organizational Success”.

McMurray explored statistics/findings regarding women in the workplace and their overall economic power. Studies have shown that companies with a higher percentage of women at the top benefit from the following results:

– Neutralization of the group think phenomenon

– Increase in new ideas

– More & better innovations

– Enhanced company reputation

– Well balanced approach to all aspects of the business

Studies have also revealed that women are the breadwinners in 40% of US homes, control 80% of consumer spending, and that achieving greater gender parity would increase the national GDP by 12% by 2030.

Why: McMurray concluded by sharing the following “Top 5 Women Executive Success Factors”:

– Lifelong Learning

– Self Awareness & Openness to Feedback

– Effective Communication Skills

– Being a Risk Taker

– Building Strong Relationships

The Data Center Market: The Data Center Impact on Charlotte's Commercial Real Estate

Who you missed: Ben Rojahn with CBRE’s Data Center Solutions Group moderated a panel comprised of David Jones, Co-Founder and President & CEO of Peak 10; Todd Aaron, Co-Founder and Co-President of Sentinel Data Centers; and Martin Walsh, Vice President of National Mission Critical for Balfour Beatty.

What you missed: CREW Data Center Presentation: As electronic file storage has become critical to businesses of all types and sizes, the infrastructure needed to securely store data has become a niche industry and an area of significant growth. Businesses of varying sizes often look to offsite facilities for storing data, creating an industry focused on providing the structures needed, and therefore creating a demand for construction expertise in building the specialized facilities, as well as companies to manage them. Balfour Beatty’s Mission Critical division combines the company’s extensive construction experience with a specialized knowledge of the IT and security installations required to create a secure facility. Peak 10 works with smaller businesses or specific divisions of larger corporations that have decided to outsource their data storage. Sentinel Data Centers works with very large enterprises that may have the resources to invest in their own data storage facilities, but choose to have the flexibility to better react to changes in the market by allowing a third party to invest the capital needed to develop and manage the facilities.

Why: While those of us involved in commercial real estate may not think a great deal about data storage on a daily basis, we all rely on it in various ways. Financial institutions, health care systems and major retailers all store personal data about each of us that needs to be safe from cyber-crimes as well as natural disasters. As we rely more and more on the ability to have everything we need at our fingertips, stored in the “cloud,” data storage facilities will continue to be a growth sector. The construction of these facilities requires traditional real estate development activities such as site selection, design and construction, including electrical, mechanical and plumbing systems, as well as specialized construction of security and IT infrastructure.