Southeast Commercial Real Estate News

  The cost of construction materials — things like lumber, steel, wood paneling, flooring and joint compound — has collectively risen close to 13% over the last year, the largest annual spike since 2008. The ripple effects for the real estate industry from such a sudden cost increase are vast: Projects are getting delayed and development timelines are lengthening, and developers are considering strategy shifts to avoid using the material most in demand, lumber. Ultimately, the costs will lead to higher rents and higher prices for real estate. Housing prices increased 12% in February alone, according to  S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index , the largest single-month gain in 15 years after an 11% increase in January. 'Perfect Storm' Of Construction Cost Spikes Wreaking Havoc On Contractors, Developers (bisnow.com)

The recreational vehicle industry both nationally and locally already was on the rise in terms of sales and RV park development, with customers skewing younger and younger. Thanks to last year’s travel restrictions, an increase in homeschooling and remote working, and a general concern for safety, the industry not is only weathering the pandemic but is on the upswing again this year, according to industry experts. RV industry continues to grow in Florida, spurred in part by the pandemic (tampabay.com)

  Kforce, one of the largest public companies in Tampa Bay, has reached a deal to sell its Tampa corporate headquarters as it shifts its employees to a hybrid work environment. The staffing and professional services company expects to close the $24 million sale of its office in Ybor City in May, then lease it back for 18 months while searching for a “future state-of-the-art corporate headquarters” in Tampa Bay, the company stated in an announcement. Kforce to sell Tampa headquarters, shift employees to hybrid work (tampabay.com)

Apple plans to build a large campus in North Carolina's Research Triangle area after securing a huge package of state incentives that could be worth nearly $850 million. The Cupertino, California-based company said Monday it would invest $1 billion to develop the new campus and engineering hub. The investment, Apple said in a press release, would "create at least 3,000 new jobs in machine learning, artificial intelligence, software engineering, and other cutting-edge fields." Apple said it also would establish a $100 million fund to support schools in the Raleigh-Durham area and across North Carolina. In addition, the company plans to contribute more than $110 million in infrastructure spending in the 80 neediest counties in the Tar Heel State. CoStar News - Apple To Build $1 Billion Campus in North Carolina's Research Triangle

  Tupperware’s   corporate headquarters   in Kissimmee, Florida, has sold for the second time in eight months. This sale is further evidence of the strength of the single-tenant market spurred by investor appetite for long-term revenue from credit-rated tenants. The seller  had put the property on the market  four months after its acquisition after receiving unsolicited interest in the property. Tupperware had sold the eight-building, 43-acre campus last September to O’Connor Capital Partners for $43.7 million. In the just completed sale, O’Connor received $43 million. “At one time, Tupperware owned over 1,000 acres and was considered one of the largest landowners in Florida,” Douglas Mandel, IPA executive managing director, said in a statement. “In 2020, Tupperware Brands executed a new 11-year lease with options enabling them to remain on the campus for up to 25 years CoStar News - Tupperware HQ Outside Orlando Sells for $43 Million

  With markets nationwide surging amid protracted growth cycle, investors are having to look harder to find properties capable of big gains. edge://settings/content/ siteDetails?site=https%3A%2F% 2 Fwww.businessobserverfl.com