Triangle Commercial Real Estate tops $2B in 2006

The commercial real estate business in 2005 was hot. In 2006 it was better.

Two Billion dollars. That's almost half the GDP of Bosnia.

Read about the sale that helped set this alltime record: newsobserver.com Property sale sets 3 records

New Loop Links RTP to Knightdale

In classic fashion the traffic demand was spilling over into the new capacity. Radio stations in the morning reported a delay around the new ramps as traffic backed up to christen the new $114M road. At 11:13am, 9.3 new miles opened and the North became seamlessly connected to the East.

More openings scheduled for 2007:
- another five-mile stretch will open this spring connecting I-40 to N.C. 54
- and I-40 through RTP to N.C. 55 by summer

Read the N&O coverage here: newsobserver.com Stretch of Outer Loop opens with fanfare

Knightdale Set for Population Explosion

What once was a sleepy bedroom community east of Raleigh is now transforming into a regional shopping mecca and a prime target for developers.

The arrival of the I-540 outer loop along with the availability of large tracts of land and few natural boundaries that would limit growth makes Knightdale very attractive.

Read this N&O front page article: newsobserver.com Knightdale reaps riches

Fidelity to Give RTP Huge Boost and Vice Versa

Among the biggest stories of 2006 is Fidelity's announcement to build a campus on 268 acres in RTP. The Research Triangle Foundation estimates the company could eventually bring 4,000 jobs and as much as $300M in investments.

NC Economic Developers offered an aggressive package to Fidelity to win the business. Highlights include:

-Job Development Investment Grant valued at $54.6 million, the largest JDIG ever offered by the state;
-$2 million grant from the state's One North Carolina Fund;
-$3.88 million in corporate sales tax rebates;
-$4 million training and screening program;
-$3.24 million Wake County tax grant;
-$1 million in infrastructure improvements.

Read the TBJ article at: Fidelity picks RTP for 2,000 jobs - Triangle Business Journal: