Katten co-sponsored the fourteenth annual Outlook on the Commercial Real Estate Market event, which took place virtually this year over WebEx due to the COVID-19 pandemic. The event featured a panel discussion with real estate industry professionals, including Real Estate partner Dan Huffenus who acted as moderator, on the industry's hopeful outlook for the economy and commercial real estate in the second half of 2021.
The panel's discussion included: how the real estate and economic market in Charlotte is expected to perform in areas such as GDP, nonfarm job growth and unemployment rate and wages, with predictions for Charlotte on par or above national averages once the COVID-19 vaccine has been widely distributed; expectations for increased investment and development in the suburbs and in secondary asset classes, like single-family rentals in the multifamily sector; and how rental communities have become more attractive among other generations of renters besides millennials or Generation Z.
Panelists also discussed how widespread technology use over the last several months has impacted the real estate market, specifically leading to greater investment in data centers like Amazon and Microsoft for debt and equity and increased demand among retailers for warehouse space due to more online shopping.
In addition, panelists speculated what potential changes in tax structure will occur under the new presidential administration and how real estate taxes are playing a more important role in investments.