Triangle Market Ripe for New Construction, Experts Say

RALEIGH, N.C. - Feb. 3, 2017 - PRLog -- Bobbitt Design Build partnered with NAI Carolantic again this year to sponsor the 32nd Annual Triangle Commercial Real Estate Conference. The conference, themed "A Place for All Seasons," was held on Jan. 19 at the PNC Arena in Raleigh.

Jimmy Barnes, President of NAI Carolantic, delivered a recap of commercial real estate market activity in 2016, citing low vacancy rates in many industry sectors as a positive sign for continued growth in 2017. "Absorption and vacancy trends are good indicators of market performance and more importantly, of what local businesses are planning," Barnes said.

Sarah Quinlan, senior vice president of Market Insights for MasterCard, delivered a keynote address, stating that North Carolina is one of the healthiest economic regions in the country. She warned, however, that N.C. House Bill 2 has resulted in a loss of jobs, as well as lost tourism and travel dollars. She also said that continued consumer spending will depend on economic developments in the first six months of the new presidential administration.

This year's Triangle Commercial Real Estate Conference drew nearly 1,600 Triangle business and community leaders, including newly elected N.C. Governor Roy Cooper, NAI Carolantic Realty chairman Steve Stroud, and president of NAI Global Jay Olshonsky – all who spoke at the conference.

"This event provides an accurate state-of-the-market report on the region's real estate sector, and this information is vital to our industry and our business," said Jim Bell, president of Bobbitt Design Build, a long-time supporter of the conference. "What we heard this year is good news for North Carolina. With vacancies down and absorptions strong in our market categories, we expect to see more new construction for office, medical, flex, warehouse and other sectors in the coming year."

The Triangle Commercial Real Estate Conference is the largest real estate event of its kind in the region. It is produced each year by NAI Carolantic, and Bobbitt was one of eight companies that sponsored the 2017 event.

About Bobbitt Design Build

Having just celebrated 70 years in business, Bobbitt Design Build is the Carolinas' largest design build contractor (http://www.bobbitt.com/) for commercial construction (http://www.bobbitt.com/), which provides control of site and architectural design, engineering, permitting and construction services under one roof. The employee-owned company has built more than 3,500 commercial buildings (http://www.bobbitt.com/) throughout the Carolinas. www.bobbitt.com / Facebook (https://www.facebook.com/BobbittDesignBuild) / Twitter (https://twitter.com/BobbittDB) / YouTube (http://www.youtube.com/user/bobbittdesignbuild)

About NAI Carolantic
NAI Carolantic is a leading commercial real estate firm with 20 brokers, a full-service property management division, as well as an experienced marketing and research division. Established in 1972, NAI Carolantic is a member firm of NAI Global, the world's premier network of commercial real estate firms and one of the largest real estate service providers worldwide. NAI has over 6,700 real estate professionals in over 375 offices around the world with regional management, global infrastructure, best practices and technology to provide clients with consistent, quality results. www.naicarolantic.com