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Exterior view of 5565 Centerview Drive, a 75,276-square-foot commercial property in Raleigh, North Carolina, acquired in April 2025.
Client Highlight

CLOSED: 5565 Centerview Drive

We are proud to announce that Judson McMillan represented the buyer in the acquisition of 5565 Centerview Drive, a premier commercial property located in the heart of Raleigh, NC.

📍 Property Size: 75,276 SF
💲 Purchase Price: $5,704,240
📆 Settlement Date: April 21, 2025

This transaction is a testament to Judson’s unwavering dedication to delivering top-tier service and value to our clients. Congratulations to all parties involved in bringing this deal to a successful close!

 

Market Insights

The Flight to Quality: How Tenant Preferences Are Shaping Office and Industrial Markets

By Brian Wallace, Broker | York Properties, Inc.

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The commercial real estate landscape continues to shift, and one trend has risen to the top: the flight to quality. Across both office and industrial sectors, tenants are gravitating toward modern, amenity-rich, and sustainable properties. This evolving preference is influencing leasing activity, fueling renovations, and reshaping investment strategies.

What Is the “Flight to Quality”?

“Flight to quality” refers to the growing tenant demand for newer, well-located spaces that offer top-tier amenities and sustainability features. In the post-pandemic era—and amid economic uncertainty—companies are prioritizing environments that promote employee well-being, productivity, and long-term efficiency.

Hallmarks of high-quality properties include:

  • Modern construction or recently completed renovations
  • Flexible, open layouts that support hybrid work
  • Advanced HVAC and air purification systems
  • High-speed internet and smart building infrastructure
  • On-site amenities such as fitness centers, lounges, and green spaces
  • Sustainability certifications like LEED, WELL, or ENERGY STAR

 

Office Market: Smaller Footprints, Higher Expectations

While remote and hybrid work models remain the norm, companies are increasingly intentional about the office spaces they do lease. Many are reducing their square footage but elevating quality to entice employees back on-site.

Top office tenant priorities:

  • Touchless entry, smart access, and integrated tech
  • Natural light, biophilic design, and wellness rooms
  • Collaborative workspaces and designated quiet zones
  • Proximity to public transit, restaurants, and retail

Class A office buildings with robust amenities, upgraded systems, and strategic locations are outperforming outdated properties that lack these features.

Industrial Market: Smart, Sustainable, and Scalable

Demand for industrial real estate remains strong, particularly in last-mile logistics and advanced manufacturing. But tenants aren’t just seeking space—they’re seeking functionality and sustainability.

In-demand industrial features include:

  • High clear heights and flexible loading dock configurations
  • LED lighting and energy-efficient HVAC systems
  • Solar energy integration and EV charging stations
  • Advanced security systems and smart warehouse technology

For industrial users, operational efficiency and ESG alignment are just as important as square footage.

What This Means for Landlords and Investors

As tenant expectations evolve, landlords and investors must pivot accordingly. Staying competitive means focusing on:

  1. Property Upgrades: Modernize interiors, enhance building systems, and invest in smart technology. Even small updates—like common area refreshes or EV chargers—can make a big impact.
  2. Sustainability: Energy efficiency and green certifications are no longer optional for many tenants. Consider pursuing LEED, WELL, or other sustainability standards to appeal to forward-thinking occupiers.
  3. Flexibility: Adaptable layouts are key. Whether it’s modular office configurations or convertible warehouse setups, flexible design helps future-proof your assets.
  4. Amenities That Matter: From wellness spaces and outdoor work areas in offices to enhanced breakrooms and secure access in industrial buildings—thoughtful amenities attract and retain quality tenants.

 

The York Properties Advantage

At York Properties, we understand what today’s tenants are looking for—and how to position properties to meet those expectations. Whether you’re leasing office space, managing an industrial asset, or planning capital improvements, our team can help you stay ahead of the curve.

Let’s future-proof your portfolio.
Contact your York Properties team today to explore how we can help you attract and retain high-quality tenants in 2025 and beyond.

📞 919-645-2773
✉️ [email protected]
🌐 www.yorkproperties.com

 

Sources:

https://www.forbes.com/sites/jeffsteele/2024/12/26/commercial-real-estate-trends-to-watch-for-in-2025/

https://www.ccim.com/real-estate-insights/blog/commercial-real-estate-2025-hurdles-and-horizons

https://www.cbre.com/insights/books/us-real-estate-market-outlook-2025

 

The Massey Condominiums in Downtown Cary - York Properties Association Management
Tenant Highlight

Association Management Welcomes The Massey

We are delighted to welcome The Massey to our Association Management division. This lovely community of 17 condominiums is in the heart of the up-and-coming Downtown Cary, NC. Our management team members are dedicated to providing outstanding service and fostering a positive environment for the community members. The management team includes:

Association Manager: Payne Eller

Assistant Manager: Clay Price

Accountant: Van Radford

 

York's HOA division excels in guiding clients through the Corporate Transparency Act.
Company News

CTA Assistance for York HOA’s

Navigating the Corporate Transparency Act: Your Association’s Trusted Partner

As the leading experts in association compliance, we at York have been at the forefront of helping homeowners associations navigate the complexities of the Corporate Transparency Act (CTA). Our dedicated team of professionals has successfully guided numerous associations through the intricate process of beneficial ownership information (BOI) reporting, ensuring they meet all legal requirements with ease and confidence.

 

Why HOAs Need Expert Assistance

The CTA’s reporting requirements have introduced a new layer of complexity for associations across the nation. Many board members and property managers find themselves grappling with questions such as:

  • Does our association qualify as a “reporting company”?
  • What specific information do we need to gather and report?
  • How do we ensure ongoing compliance with updating requirements?

This is where our expertise becomes invaluable. We’ve developed a streamlined process to take the guesswork out of CTA compliance for associations of all sizes.

 

Our Comprehensive CTA Compliance Services

At York we offer end-to-end solutions tailored specifically for associations:

  1. Compliance Assessment: We conduct a thorough review of your association’s structure to determine your reporting obligations under the CTA.
  2. Data Collection and Verification: Our team assists in gathering all necessary information about beneficial owners, ensuring accuracy and completeness.
  3. Report Preparation and Filing: We prepare and submit your BOI report to FinCEN, adhering to all deadlines and format requirements.
  4. Ongoing Compliance Management: We help you stay compliant by tracking changes and filing timely updates as needed.
  5. Legal Guidance: Our network of legal experts provides clarity on complex aspects of the CTA as it relates to associations.

 

Why Choose Us?

  • Proven Track Record: We’ve successfully assisted 54 associations with CTA compliance since the act’s inception.
  • Specialized Expertise: Our team focuses exclusively on association compliance issues, including the nuances of the CTA.
  • Time and Stress Savings: We handle the entire process, allowing your board to focus on community management.
  • Risk Mitigation: Our thorough approach minimizes the risk of non-compliance and potential penalties.

 

Act Now to Ensure Compliance

With the March 21, 2025 deadline approaching for existing associations, it’s crucial to complete this process. Don’t leave your association’s legal standing to chance. Contact York’s Association Management division to schedule a consultation and let us guide you through the CTA compliance journey with confidence and ease.

Anna Claire Price

[email protected]

Remember, when it comes to CTA compliance for association, we’re not just service providers – we’re your trusted partners in navigating this new regulatory landscape.

Market Insights

Progress Report: The Missing Middle

The term “missing middle” refers to housing types between detached single-family homes and large apartment buildings. This includes duplexes, triplexes, townhouses, and small apartments.
Prior to the summer of 2021, these housing types were prohibited in many of Raleigh’s neighborhoods. Nearly four years after adopting Missing Middle housing policies that same year, Raleigh is seeing significant activity in this area of development.  While a single Hayes-Barton townhome project has dominated headlines, there are actually multiple small-scale developments underway across the city.

Current Development Activity

As of February 2025, Raleigh’s Missing Middle housing pipeline includes:
  • 52 Missing Middle subdivisions submitted for approval
  • 195 Accessory Dwelling Units (ADU) applications
  • 98 townhouse unit applications
Additionally, at least 10 proposed small-scale developments are currently under review within Raleigh’s Administrative Site Review portal. These projects are expected to add nearly 200 units on less than 10 acres within the city limits.

Examples of Ongoing Projects

601 Method Rd: A nine-unit small apartment building near Western Blvd BRT.
1613 Battery Dr: Fourteen new townhomes replacing one single-family home adjacent to Raleigh Blvd.
These developments showcase the city’s efforts to increase housing density while maintaining neighborhood character.

Challenges and Opposition

Despite progress, the Missing Middle policy continues to face challenges.
Legal Battles: The Raleigh Country Club recently petitioned to block a 16-unit townhome development near its golf course.
Ongoing Lawsuits: A judge ruled against a controversial 17-townhome development in the Hayes Barton neighborhood, highlighting the ongoing debate surrounding these projects.

Mixed Results

While the policy has increased housing diversity in some areas, its impact on affordability remains debated. Of the 2,800 new units built under the program, only 203 (less than 10%) are considered affordable.
As Raleigh continues to grow, the Missing Middle approach represents an ongoing experiment in urban housing policy, with both promising developments and persistent challenges. The city will need to monitor and potentially adjust its strategies to achieve the intended goals of increased housing supply and improved affordability.
York Properties broker, Judson McMillan represented the buyer in this commercial leasing transaction in Pinehurst.
Client Highlight

CLOSED: 160 Turnberry Way

We’re excited to share that our client successfully acquired a fully leased light-medical office building in Pinehurst! This strategic investment promises stable income and long-term growth within a vibrant and growing community. A huge congratulations to our client on this excellent addition to their portfolio!

And a special shoutout to Judson McMillan for his exceptional work in representing the buyer throughout this transaction. His expertise, dedication, and market knowledge were instrumental in ensuring a seamless and successful closing. Judson’s commitment to client satisfaction is truly commendable.

We’re proud to play a role in connecting investors with quality opportunities in this dynamic region.

New sweetness opened at Stony Brook Shopping Center, leased by York Properties
Client Highlight

Tepuy Donuts at Stony Brook

Quick tenant highlight this morning. We stopped by Tepuy Donuts at Stony Brook Shopping Center on our way to the office one morning last week. This excursion is HIGHLY recommended.

Besides a fantastic array of made-from-scratch sourdough doughnuts, Tepuy offers breakfast and lunch sandwiches.

You can order ahead online or pop by most anytime from 6:30am – 3pm. Closed on Wednesdays. Open at 7am on Sundays.

Located at 2820 Capital Boulevard, Raleigh.

Check them out sometime! You won’t be sorry.

 

Photo of the Horseshoe at Hub RTP
Market Insights

RTP 3.0: Transforming Research Triangle Park into a Vibrant, Mixed-Use Innovation Hub

RTP 3.0 is a visionary initiative aimed at transforming North Carolina’s Research Triangle Park (RTP) into a more dynamic, mixed-use environment over the next 50 years. Historically, RTP has been a sprawling office park spanning 7,000 acres across Durham and Wake counties, primarily dedicated to research and development facilities. The RTP 3.0 plan seeks to evolve this landscape by integrating residential, retail, and entertainment spaces, thereby fostering a vibrant community where people can live, work, and play.

A central component of this transformation is the development of **Hub RTP**, envisioned as a downtown district within the park. This ambitious project includes up to one million square feet of office and life sciences lab space, 38,00 square feet of experiential retail, 1,200 multifamily residential units, 279 hotel rooms, and 16 acres of green, open space. The goal is create a walkable urban center that enhances connectivity and community engagement within RTP.

To facilitate these changes, RTP companies approved covenant modifications with a 96% majority in early 2025, marking a significant step toward reimagining the park’s development framework. These amendments pave the way for introducing mixed-use developments and residential options within RTP’s boundaries.

The RTP 3.0 initiative also emphasizes sustainability and inclusivity, aiming to create a “15-minute city” where essential services and amenities are accessible within a short walk or bike ride. This concept addresses future housing and transportation challenges, ensuring RTP remains attractive to companies and talent in the evolving economic landscape.

Overall, RTP 3.0 represents a strategic effort to modernize Research Triangle Park, enhancing its role as a global innovation hub wile providing a more integrated and living community for residents and professionals alike.

Judson McMillan, York Properties, represented the buyer in this commercial leasing transaction in Raleigh.
Client Highlight

CLOSED: 4600 Trademark Drive

Congratulations to our valued client who successfully acquired the property at 4600 Trademark Drive in Raleigh, NC. This rare single-tenant flex investment opportunity features an 8,737 SF industrial building on a 1.99-acre lot, built in 2023.

A big shoutout to Judson McMillan for his expert representation of our client throughout this transaction. This purchase aligns perfectly with the robust growth and opportunities in the Research Triangle Region, consistently ranked as one of the best places to live and work in the U.S.

Market Insights

Wake County’s Commercial Real Estate Outlook 2025: Navigating Challenges, Embracing Opportunities

While navigating potential economic uncertainties remains important, the region’s inherent strengths position it well for continued success in the commercial real estate (CRE) sector. As we progress through 2025, Wake County’s CRE market exhibits signs of stabilization and promising long-term growth, underpinned by robust population increases and ongoing economic development.

Office Sector:

The office market is experiencing stabilization, driven by a resurgence in tenant demand for in-person attendance. With a limited construction pipeline and no new starts anticipated in the near term, the availability of prime office space is expected to tighten. This scenario may prompt tenants to consider a broader range of properties to meet their needs.

Industrial Sector:

The industrial sector continues to perform well. A slowdown in deliveries in 2024 is expected to lead to tighter vacancy rates in 2025. Strong demand for newly delivered industrial products is likely to encourage more developers to break ground on new projects, creating additional high-quality occupancy options. Wake County’s robust population growth will continue to fuel long-term demand for industrial space, driven by last-mile logistics and advanced manufacturing.

Medical Office and Retail Space:

The region’s favorable demographics are expected to sustain demand for medical office and retail spaces. The area’s appeal to new brands is likely to keep retail availability tight, with vacancies in high-demand locations being quickly filled. Additionally, the trend of developing live-work-play destinations is expanding beyond urban centers into smaller communities and traditionally suburban areas.

Life Sciences Real Estate:

The life sciences sector is anticipated to experience renewed demand as capital becomes more accessible. Significant investments by major biomanufacturers, including expansions by FUJIFILM Diosynth Biotechnologies and Amgen in Holly Springs, underscore the region’s status as a premier life sciences hub.

Generational Projects:

Several transformative projects are set to benefit all aspects of Wake County’s real estate market. These include the development of Dix Park, the Lenovo Center sports and entertainment district, the Raleigh Convention Center expansion accompanied by the new Omni Hotel, the RDU International Airport expansion, and RTP 3.0. The ongoing development of Hub RTP within Research Triangle Park, featuring new dining, office, and lab spaces, further contributes to the region’s dynamism.

Driving Factors for Continued Growth:

  • Strong Population Growth: The continuous influx of new residents fuels demand across all CRE sectors.
  • Economic Development Success: North Carolina’s recognition as a top state for business, coupled with significant job creation and capital investment in Wake County municipalities, fosters a conductive environment for business expansion and relocation.
  • Infrastructure Improvements: Investments in transportation infrastructure, including the Bus Rapid Transit system and expansions at RDU International Airport and on major roadways like I-540 and I-440, enhance accessibility and attractiveness.
  • Thriving Higher Education and Talent Pool: The presence of esteemed educational institutions like NC State University and Wake Tech Community College provides a robust talent pipeline, attracting businesses seeking skilled labor.

 

While challenges such as high interest rates and workforce shortages persist, the overall outlook for Wake County’s commercial real estate market in 2025 remains cautiously optimistic, buoyed by the region’s inherent strengths and strategic developments.