Retail Vacancy Rate at a Historic Low in Raleigh Market

According to a recent CoStar report, the Raleigh retail market is seeing high demand and limited supply as a result of population growth and strong consumer spending. Net absorption over the past year has been around 190,000 SF, while move-outs have been lower than average. However, only -490,000 SF of new retail space has been delivered in the same time period. This has led to historic lows in vacancies and availabilities at 2.2% and 3.1%, respectively.   The report states multiple tenant leasing agents have commented that the market’s absorption would be significantly higher if more space were available for tenants to move into. There is a particular lack of second-generation space, and first-generation space is challenging for tenants to move into due to expensive upfits and long construction schedules. Raleigh’s steady population growth supports the construction pipeline, which is currently the largest it has been in over a decade, with 1.9 million SF of retail space under construction.

Meet Our People

Kathy Decker is a North Carolinian through and through.  She grew up in Chapel Hill and Durham, then attended college in Boone at Appalachian State University, earning a degree in Elementary Education.  After graduation, she taught 5th grade in Charlotte for a time before moving back to the Triangle area.

In 1990, just after her move to Raleigh, Kathy made a career change and began working for Summit Properties in the apartment management industry. Six years later she came to work for York, joining the team as an on-site manager for City Market in Downtown Raleigh.

During her 25+ year tenure here at York, Kathy has worked in our Association Management and Property Management divisions.  In her various roles she has handled event planning, leasing, tenant renewal negotiations, vetting vendors, creating budgets, property renovations, and more!

On the weekends, Kathy works for a local wedding and event planning company as a wedding coordinator assistant. When she’s not assisting with a wedding, Kathy enjoys trying new restaurants in town, cake and cupcake decorating, traveling, or enjoying a binge-worthy Netflix thriller paired with a good glass of wine.

Kathy has volunteered with Triangle Dress for Success, which helps clients find an interview outfit or a week’s worth of clothes for work after they find employment. Kathy says that she sees firsthand how with the right clothing, a woman’s self-esteem increases and makes her more confident during the interview process. “It is rewarding to help someone find an interview outfit and then see them in a month or two to help them find work clothes for the job that they were interviewing for.” Kathy is also a member of the Junior League of Raleigh and Edenton Street United Method Church, where she has enjoyed various volunteer experiences over the years.

Kathy’s parents, brother, and sister-in-law are in the Wake Forest—Rolesville area. About two years ago, Kathy was a foster volunteer with Purr Partners Rescue and became what they call a “foster fail.” Purr Partners’ rescues are named after a letter of the alphabet. She was given the B Team – Barry, Belva, and Bixby, all four-month-old sibling cats. She says that by the time they got healthy, they had bonded, and she couldn’t give them up. Kathy formally adopted all three of them. Now that they are two years old, Kathy says that they have calmed down somewhat, but they still keep her busy and entertained with all of their shenanigans.

Property Management can be stressful at times, but Kathy says she is glad to work with a supportive team and positive company work culture at York. Her motto? “Don’t look for happiness… Create it.”

Special thank you to Kathy Decker for her years of dedication and commitment to York and the community!

2023 IREM Chapter Leadership Retreat

Earlier this week, Patty Friedman traveled to Chicago, IL, to attend the 2023 IREM Chapter Leadership Retreat. In addition to being one of our property managers, Patty serves as Treasurer of the IREM Greater Raleigh-Durham Chapter and Friends of IREM Board Liaison.

The 3-day retreat was held at the Loews Hotel Chicago, where Chapter Presidents, President-Elects, Chapter Board of Directors, Chapter Committee Chairs, IREM Association Executives, IREM’s Leadership Team, Board of Directors, and RVPs were all in attendance.

The purpose of the retreat was to give real estate managers an opportunity to grow their leadership skills to enhance their chapter roles and professional careers. Among those events scheduled were an IREM Association Executive Workshop, Chapter Management Bootcamp, and IREM HQ Offices Tour.

Both the Greater Raleigh-Durham and Western North Carolina chapters achieved top rankings as Premier and Evergreen contributors to the IREM Foundation for the organization’s 2023 Chapter Giving Campaign.

Spring Commercial Building Maintenance Tips

With outdoor temperatures rising, it is even more important than usual for building owners to make sure they are taking the right steps to maintain their property. Taking care of a building in warm weather is important to ensure the comfort and safety of occupants, as well as to maintain the building’s integrity. We have compiled some tips on how to take care of a building during warm weather.

Exterior maintenance:

  • Inspect and clean the building’s exterior, including walls, roof, and windows, for any signs of damage, wear, or leaks that may have been caused by extreme heat or sun exposure.
  • Check and clean gutters and downspouts to ensure proper drainage and prevent water damage, especially during periods of heavy rainfall or thunderstorms.
  • Inspect and repair any cracks or gaps in the building’s foundation, walls, and sidewalks that may have expanded due to heat or dryness.
  • Trim trees, shrubs, and bushes away from the building to prevent overgrowth and potential damage to the structure, and to allow for proper air circulation and shading.
  • Check and clean HVAC outdoor units, including coils and fins, to remove any debris or obstructions that may have accumulated during warm weather, and schedule professional maintenance or repairs as needed.
  • Check and repair any damaged or worn roofing materials, such as shingles or tiles, that may have been affected by prolonged sun exposure.

Interior maintenance:

  • Inspect and clean HVAC systems, including air filters, coils, and vents, and ensure proper functioning to maintain optimal indoor air quality and energy efficiency during warm weather.
  • Test and adjust thermostats to ensure proper temperature control and energy savings, and consider implementing energy-saving measures, such as programmable thermostats or shading devices.
  • Check and clean all interior lighting fixtures, replace bulbs as needed, and ensure proper functionality.
  • Inspect and test emergency exit signs and lighting to ensure compliance with safety regulations and to maintain visibility during emergencies.
  • Check and repair any plumbing leaks or dripping faucets that may have been exacerbated by increased water usage during hot weather.
  • Ensure proper insulation and weather stripping on doors and windows to prevent air leaks and reduce cooling costs.
  • Review and update emergency preparedness plans, including heat-related safety measures, such as providing adequate ventilation, shading, and hydration for occupants.

Luckily, here at York, we have both a landscaping and maintenance division that can handle all these needs and more for you.

Give our landscaping team a call today (919-835-2113) or contact our maintenance division (919-863-8068) for more information.

StepUp Ministry Names George York Development Volunteer of the Year

Our President and CEO, George York, has been a supporter and volunteer with StepUp Ministry for several years. He serves as an active member of their development committee and joined their Board of Directors last year. StepUp Ministry graciously named George their Development Volunteer of the Year for all his hard work and efforts to support the organization.

StepUp Ministry is a non-profit organization that prepares people who are ready and willing to make positive changes in their lives in order to gain stability. Founded in 1988 by White Memorial Presbyterian Church, they consider themselves to be an interfaith community that helps individuals in Wake County transform their lives through employment and life skills training. Their vision is to be the premier resource in Wake County for people seeking to improve their lives and develop stable careers.

George is honored to receive this award and plans to continue his support for the organization. To discover ways you can make an impact on the community, visit StepUp Ministry’s website.