Medical Office Potential
Monroe and Charlotte, NC
Warren & Associates worked with a developer to determine the level of demand for medical office space around three hospitals in the Charlotte area.  A detailed inventory of multi-tenant rental and owner-occupied buildings was prepared to analyze current vacancy rates and pricing.  Proposed residential communities were also identified to forecast household growth within defined trade areas.

South End Office/Showroom Market Analysis
SouthEnd, Charlotte, NC
Warren & Associates analyzed the redevelopment potential for an historic 15,600-square foot industrial building on a 2.7-acre site in Charlotte’s bustling South End district immediately south of downtown.  Another 26,000 square feet of new space is also proposed for the site.  South End has experienced a surge of office, retail and residential redevelopment over the last five years.  Much of the office demand has emanated from the design and technology sectors.  After analyzing the current inventory of office and designer showroom buildings, and investigating all projects under construction and proposed, specific site plan recommendations were provided, as well as pricing and absorption forecasts. 

Myrtle Beach Corporate Center
Office Market Analysis - Myrtle Beach, SC
Warren & Associates analyzed recent economic, employment and office market trends, and researched public and private initiatives that would impact the demand for office space in Myrtle Beach over the next five years.  A detailed building inventory was assembled in order to calculate changes in supply and demand over the most recent two-year period.  A market forecast was produced, and a capture rate was estimated for a new Class A building by First Colony Development in the area’s only master-planned office park. 

Industrial Building and Land Analysis – Mecklenburg County, NC

As the result of increasing redevelopment pressure and adjacency conflicts in industrial areas near downtown Charlotte, as well as concerns about the city’s competitiveness to attract new manufacturing and distribution businesses, Warren & Associates was hired by the Charlotte-Mecklenburg Planning Commission to comprehensively analyze Mecklenburg County’s industrial building and vacant land supply. 

The building supply was analyzed by type (manufacturing and warehouse) and class (A, B and C).  Vacant industrial land was analyzed by parcel zoning (I-1, I-2) and size  (<1 acre, 1-3 acres, 3-5 acres, 5+ acres).  A separate analysis of the 50 largest vacant parcels revealed that 40% of the total acreage would not be “developable” for industrial uses based on defined physical and market criteria.

In order to compare building and parcel availability with the requirements of today’s industrial users, interviews were conducted with Charlotte area commercial real estate brokers and economic developers.  Average building and parcel size demand was then compared to the existing supply.  The most active industrial sectors were also identified, along with the most competitive counties for intra- and inter-market relocations.  It was determined that Mecklenburg County has a finite inventory of marketable industrial land, with additional acreage necessary within the next 20 years.

Regional Industrial Development Opportunity
Industrial Market Analysis - Charlotte, NC
In conjunction with Barker Corvus, Warren & Associates researched industrial market conditions for a multi-county region around Charlotte for a national developer considering construction of a 250,000 to 500,000-square foot speculative warehouse.  A detailed inventory of industrial buildings and sites was prepared for each county and the total region.  Broker and developer interviews were also conducted to forecast rent concessions and building deliveries.  Based on inadequate rents to support site costs, and potential competition, the team recommended delaying land purchase and development for at least 18 months  

Sealtest Industrial Facility Reuse Strategy
Industrial Market Analysis - Charlotte, NC
Warren & Associates advised the ownership group of a former Sealtest ice cream plant and distribution center in inner city Charlotte about the most viable re-use strategies, and the potential rents that could be achieved through two different investment scenarios.  The facility contains approximately 70,000 square feet of industrial space and 30,000 square feet of offices.  Two light assembly/distribution uses have subsequently leased the industrial space at rates approximating the forecast, and a medical clinic is negotiating to occupy the ground level of office.   

NorthCross Business Center
Office Market Analysis - Huntersville, NC
Warren & Associates analyzed Charlotte’s North office submarket to identify competitive projects for a proposed 16,000-square foot building, quantify achievable rents, and forecast the lease-up pace.  Based on his recommendations, the building design and features were modified to accommodate the targeted small business market.