Tag: WNC real estate

Q1 2020 Commercial Activity: Predictions for the commercial real estate industry were conservatively optimistic at the start of the year. In our Year End 2019 Market Report, we indicated that a robust first quarter was unlikely, which was confirmed in some segments by the first quarter’s data.  Entering an election year, coupled with ongoing trade… Read more »

Year End 2019 Commercial Activity: 2019 was the second best year for commercial real estate in Western North Carolina, trailing only 2018. The four-county MSA reported just over $595 million in 2019 sales. In contrast, the region experienced only $92 million in closed transactions a decade ago. In 2019, all sectors reported strong sales, with… Read more »

Q3 2019 Commercial Activity: The sale of two apartment complexes in Asheville accounted for almost $125M of the $278M in commercial transactions for the third quarter. The District, located on Fairview Road near Biltmore Village, sold for $71,500,000. Skyland Exchange, located off Long Shoals Road in Arden, sold for $52,750,000. With 309 units, The District… Read more »

Q2 2019 Commercial Activity: The bullets below tell the story: All categories were slightly off in Q2 2019 as compared with Q2 2018. The one exception was land, which was up 10%.  There were 124 closings in all sectors in quarter two for $121.8 million, compared to 186 sales for $181.2 million in Q2 2018…. Read more »

Q1 2019 Commercial Activity: Commercial sales transactions were sort of a mixed bag in Q1 2019. We saw 160 closings in the first quarter for $197 million compared to 160 closings in Q1 2018 for $290 million. In contrast, our median year-over-year sales price was very similar ($102/ft versus $107/ft). That tells us that there… Read more »

2018 Commercial Activity: According to CoStar sales data, 2018 was the best year for commercial real estate in Western North Carolina. Our four-county MSA (Buncombe, Henderson, Haywood, and Madison) saw just over $700 million in sales last year. That bested 2016’s previous high-water mark by $100 million! In comparison, the region only saw $92 million… Read more »

Q3 2018 Commercial Activity: We witnessed some significant swings in commercial real estate for Q3. The industrial sector was off 80% from the second quarter. But office business was up 34%. Retail transactions were up 71%, but multi-family was down 70%. And land closings were off 35% from what they were in the spring. Luckily,… Read more »

Q2 2018 Commercial Activity: The second quarter was solid, steady, and consistent—nothing extraordinary or flashy, just solid. Four out of the five sectors (industrial, office, retail, multi-family, land) were not up by much, but they were up. In the Central Business District (CBD), 48 Biltmore Avenue (home to Chestnut restaurant) and 26.5 Battery Park Avenue… Read more »

Beverly-Hanks President Neal Hanks, Jr. has delivered the first quarter 2018 Market Report. Watch the video below for his short report, or continue reading for a summation.   Q1 2018 Commercial Activity: It was a strong first quarter for commercial real estate in Western North Carolina. 96 properties closed for approximately $192 million, compared to 127… Read more »

Beverly-Hanks President Neal Hanks, Jr. has delivered the 2017 End-of-Year Market Report. Watch the video below for his short report, or continue reading for a summation. 2017 End-of-Year Commercial Activity: 2017 was an incredible year for NAI Beverly-Hanks! The division sold and leased transactions totaling more than $100 million dollars—an all-time high! The WNC market was… Read more »