Why do Tech Start-up Companies Love the Triangle?

Durham and the Triangle (Raleigh, Durham, Chapel Hill) offer several unique-to-the-area and appealing benefits to their residents and tech start up companies that make the area stand out. The diverse community and combination of city-living and easily accessible surrounding nature are high up on the list of benefits. The area, which used to thrive on Southern Tobacco has now built itself into a thriving metropolis with plenty to do and ample space and resources for tech companies that have come to call the Research Triangle home. 

All throughout the triangle, tech start-ups can find a variety of office spaces and resources to help them succeed. Every city in the triangle has office spaces that are perfect for tech start-ups. American Underground built its image on the American Tobacco Campus and has become an essential tech hub, branding itself as the "Start-up Hub of the South", providing the essential resources and support needed by tech start up companies. HQ Raleigh, a similar company, but situated in downtown Raleigh provides ample space for over 230 companies in the Raleigh area. Industrious Raleigh, another Raleigh-based company hosts events and plenty of office space in its beautifully designed building downtown. The third point to the Triangle, Chapel Hill, offers office spaces and resources through Launch Chapel Hill located downtown. These spaces make it easy for growth and success from entrepreneurs, tech start-ups, and several other businesses.

Tech start-ups in Research Triangle Park NC are intrigued by the Park’s close proximity to the Raleigh/Durham/Chapel Hill downtowns, their housing developments, easy transportation– with a short distance to the Raleigh Union train station, Raleigh-Durham International Airport, and Interstate 40. RTP was created with the goal of preventing university students from transferring to different states and regions after graduation for better job opportunities in technology and engineering fields. The effect of RTP has been quite drastic; not only do university students from the area find jobs in the Triangle, but young entrepreneurs and tech start-ups, and even larger corporations from all over flock to the Triangle to build their businesses and utilize the area’s expansive resources. 

The cost of living in the Triangle is substantially less than other large technology-dominated cities, including San Francisco or New York. Younger entrepreneurs are able to grow and expand without paying a fortune on living expenses; Searching for Durham NC Real Estate on Zillow shows how affordable housing can be in the area when compared to other cities. The flow of young entrepreneurs is quite constant with the Triangle being home to 3 major universities: UNC-Chapel Hill, Duke, and NC-State. College graduates are able to find mentors and jobs in the area and add value to the evolving region. In 2017, Nerd Wallet recognized Raleigh and Durham for their ability to supply opportunities for tech workers on top of their relatively low costs of living. The Triangle, though always adapting, appeals to all ages with ample opportunities for college graduates, plenty of great schools–from magnet elementary programs to nationally recognized high schools, such as the North Carolina School of Math and Science, to top universities– for prospective families, and plenty of benefits, including the low cost of living, for people in retirement, with North Carolina listed as the 6th best state to retire in. 

While Durham, Chapel Hill, and Raleigh are able to supply several of the amenities of larger cities, their close proximity to non-metropolitan areas adds to their appeal. Tech start-ups and biotech companies in Research Triangle Park NC can find well-designed spaces for their business, while the Triangle provides plenty of activities, within the downtowns or further out in nature, that make the area enjoyable during work or free time. The proximity to trees and greenery is what makes the Triangle such a desirable area compared to other large cities. There are several homes for residents in nature or within the cities that can provide something for everybody. The diversity of property types is clearly shown when searching for Chapel Hill, Raleigh, or Durham NC real estate on Zillow. 

When browsing for Durham NC real estate on Zillow, one home in downtown Durham stands out. Downtown Durham is a well-populated and highly desirable area. 211 Mallard Ave, Downtown Durham, a house that just recently surfaced on the market, stands in close proximity to all the amenities downtown Durham has to offer, with the downtown being a walkable distance to the home. This home, a modern and uniquely designed smart home, features a thoughtfully crafted custom iron catwalk and loft area, 5 bedrooms, 3 ½ bath, back patio with a hot tub & pergola, large custom barn door that converts media room to 5th bedroom, top floor bedroom vaulted ceiling and loft area, spacious master ensuite, metal rods surrounding the stairs, and several energy-efficient aspects. A Must See! The technologically savvy and modern home enthusiasts will love this unique property!

For more information click here https://www.carljohnsonrealestate.com/featured-listing-8819.htmlor call/text/email Carl Johnson 919-880-0904 Carl@CarlJohnsonRealEstate.com

Will the Raiders Domed Stadium Increase My Market Value?

Will the Raiders Domed Stadium Increase My Market Value?

By Glenn J Rigdon

The development of a $1.9 Billion dollar professional football stadium down the street from your current business location is usually a good thing. There are always those who may garner a real property value increase due to the stadiums location but then realize that the traffic from the new venue may destroy their ability to do business or it may make renting their building to a tenant or tenants more difficult. You can have a huge real property market value uptick and still lose your tenants or lose the utility of your building for its current use at the same time.

Appraisers are always asked "how much of a property value Increase can I expect?" It's not something that can easily be answered because, as you know, each property is different and each will benefit more or less from the stadium development.

If you own a single-family residential home located 5 miles away from the planned stadium I wouldn't hold my breath regarding appreciation, the stadium may provide some great entertainment to you if you can afford to pay for it but you will likely pay more in taxes for its construction than you will ever gain from your homes appreciation.

The domed stadium planned for Las Vegas is going to be developed west of Interstate 15 and thus west of the Las Vegas Strip in an area dominated by smaller existing industrial building development.

Thus, it is likely that many industrial properties located near the planned domed stadium site will likely increase in value over the next few years. If you look at other professional stadiuhe dome, but they can't offer you that many choices. ms, I have, you will find that there are (look at the AT&T stadium in Arlington, TX for example) 30 to 50 restaurants surrounding it. Las Vegas is full of Strip based restaurants but do fans traveling in and out of the dome want to deal with the Strip just to get some food? Yes, they will sell you food inside of t

Industrial land often sells in Las Vegas for a price near $10 per square foot but fast food restaurant ground sells closer to $25 per square foot. There appears to be some upside potential for those willing to transition their properties from industrial to commercial, and much of the area surrounding the proposed Las Vegas dome stadium has already been planned for a tourist commercial use.

Arrowhead Stadium in Kansas City, MO is isolated from most private development, and the Bank of America stadium in Charlotte is isolated by highways. The Los Angeles Chargers stadium (StubHub Center) adjoins Cal State University and still has nearly 15 fast food restaurants close by.

Properties have to be evaluated on a case-by-case basis and owners have to follow how the areas near the planned stadium are transitioning. If the stadium had been planned for the Strip side of the freeway there would likely have been much less potential for stadium-related development given the relatively high prices from the influence of the Strip, but west of the I-15 there are more possibilities.

The transition of the area away from small industrial users to stadium related uses will offer an opportunity to current owners and to investors who can benefit from locating close to the stadium.

Contact Glenn Rigdon at  grigdon@cox.net a licensed broker and commercial appraiser in the Las Vegas area for additional information or at http://www.appraiserlasvegas.com

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