Brian Reece of Karnes to Discuss Triangle Commercial Market Conditions at July 18th IREM Meeting

RALEIGH, NC, July 12, 2012

The Greater Raleigh-Durham Chapter 105 of the Institute of Real Estate Management's (IREM) July meeting will feature speaker Brian Reece, Managing Partner at Karnes Research. Reece will present "Triangle Market Snapshot: Office, Retail, Industrial, and Apartments" at noon on Wednesday, July 18th at Raleigh Board of Realtors located at 111 Realtor's Way in Cary.

Reece joined Karnes Research in 1996 as the Director of Research Services and is in charge of tracking the Charlotte, Triangle, and Asheville commercial markets that comprise more than 213 million square feet of office, industrial and retail properties, as well as more than 95,000 apartment units in the Raleigh-Durham area. He has also consulted public and private sector clients on issues such as economic development, housing, retail demand, office and industrial demand, apartment feasibility, and demographics.

Reece has been a frequent speaker of the Greater Raleigh-Durham IREM Chapter—providing market forecasts to the organization's real estate membership. During his presentation, he will be discussing overall trends in vacancy rates, rental rates, net absorption, and current and future developments.

"It's always a privilege to be asked to speak with the members of IREM," says Reece. "It's an invaluable resource for the real estate industry, and I'm proud of my association with such a professional and highly-regarded association." Reece hopes that the audience will leave having a better clarity of current market conditions in the Triangle area and take with them a projected forecast for the next 12-18 months.

Current IREM president, Gary Triplett, CPM , says that Reece's presentation is an annual highlight of their chapter's presentation season and is always well attended by members of the real estate community. He says he expects this meeting to be no exception.

"We're always grateful to Brian for giving IREM his time and valuable market insights to our membership," says Triplett. "He's been part of our presentation lineup for several years now, and his industry insights, experience, and expertise continue to make him one of our most valued speakers. Given the continued uncertainty of the real estate market, Brian's presentation is extremely timely and will be of particular importance to the real estate professional."

Guests, Associate Members, and Student Members are cordially invited to attend this event at a $40.00 fee, payable in advance. Checks should be made payable to IREM Chapter 105, 4824 Wyatt Brook Way, Raleigh, NC 27609. Reservations are required to Candi McDowell, IREM Association Executive, (919) 863-8057 or candimcdowell@yorkproperties.com by Wednesday, July 11. For more information, visit http://www.irem105.org.

About the Greater Raleigh-Durham Chapter 105
The Greater Raleigh-Durham Chapter 105 is one of ninety IREM chapters that are located throughout the US and Canada. The organization offers courses in many other countries including Poland, Spain, Russia, Brazil, Canada, Chile, Japan and Mexico. Our mission as property managers in this area is to be committed to professionalism and ethics within the property management industry. For more information about our Chapter, visit http://www.irem105.org.

About Karnes
KARNES was founded in 1990 and has offices in three North Carolina locations—Charlotte, Raleigh, and Greensboro—and currently tracks more than 118 million square feet of office space, 140 million square feet of industrial space, 147 million square feet of retail space, and over 95,000 apartment units. Karnes is a leading provider of economic and market solutions and services that enable organizations and professionals to make critical decisions regarding the market and new opportunities. Karnes provides services to a diverse client base that includes hundreds of customers and is best known for its quarterly market reports covering the office, industrial and retail markets in Charlotte, Raleigh-Durham, Greensboro/Winston-Salem/High Point, and Asheville. Karnes' consulting division offers custom consulting services that include opinion letters, demographics, mapping, market overviews, and feasibility studies. For more information, visit http://www.karnesco.com.

Press Contacts:
Gary Triplett, CPM , President
Drucker and Falk
(919) 582-1930
GTriplett@druckerandfalk.com

Candi McDowell, Administrator
York Properties
(919) 821-1350
candimcdowell@yorkproperties.com