Friday, July 18, 2008

Uptown Charlotte office vacancies lowest in nation

Uptown Charlotte’s office market had the lowest vacancy rate in the second quarter among 51 central business districts surveyed by Colliers International. The Queen City has a vacancy rate of 1.9 percent, down slightly from 2 percent in the first quarter. Charlotte’s, NC suburban office-vacancy rate rose to 13.4 percent from 12.8 percent in the first quarter.

Overal office lease markets seeing healthy office demand around the country.

Colliers International, based in Boston, is a global affiliation of independently owned commercial real estate firms.

Carolinas Metro Realty specializes in office lease and office business park management. Please visit us online at or call 704-405-0634.

Wednesday, June 4, 2008

Commercial real estate and Economic Stimulus Package

Commercial real estate scored some victories in the Economic Stimulus Package passed by Congress this winter. Two tax provision will provide benefits to small business owners. The first permits a business to deduct as much as $250,000 of the cost of otherwise depreciable commercial property as an expense. This provision applies to commercial property acquired and placed in service during 2008.

A second provision will provide a 50% bonus depreciation deduction for the cost for leasehold improvements and certain other equipment and commercial real estate. The provision is effective for improvements placed in service during 2009 will be eligible for the bonus deduction, but only if they are made pursuant to a contract entered into in 2008.

On the other hand, a big tax benefit for commercial property owners that didn’t pass was the 15-year cost recovery period for lease hold improvements, which expired at the end of 2007.

If looking to buy or invest in commercial real estate in Charlotte, NC and surrounding areas please e-mail or call 704-405-0634 our commercial real estate agents who are ready to help you with either your investment and property acquisition, management or both. You can search commercial listings in Charlotte by visiting our commercial property search page