Michael Haley, WCED Executive Director, and Kyle Touchstone, Director of Raleigh Economic Development, traveled to NYC to meet with consultants and partners to share updates from Raleigh, Wake County, and the Triangle Region.

The first of these meetings was with Nick Gatto, Manager of Real Estate & Location Strategy for Deloitte. Nick’s work focuses on Advanced Industries, including semiconductor and battery  manufacturing, and data centers. We discussed the diverse industry sectors of the region and the work we have been doing to create an Advanced Industries strategy.

The team then met with Ari Shalam, founder and managing partner of RNW Real Estate Partners, a NYC-based real estate private equity platform with industrial and multi-family investments in the Triangle region. Three topics emerged from this conversation:

• Climate Impacts on Real Estate Investment: As climate change increasingly shapes real estate investment decisions, Ari offered a candid perspective on emerging risks and opportunities. Raleigh’s inland location presents a strategic advantage. Ari emphasized that this geographic resilience should be a core part of WCED’s messaging, positioning Raleigh as a safer, smarter choice for long-term investment.
• North Carolina vs. Texas: North Carolina’s tax environment is more favorable for commercial real estate investors, while Texas’s high property taxes pose a significant barrier. Political and cultural dynamics in Texas may also deter certain investors. Infrastructure is another differentiator: while Texas faces notable challenges, Raleigh and Wake County are investing heavily in improvements like RDU Airport and the I-540 corridor—moves that bolster the region’s appeal.
• Lifestyle & Entertainment: Ari advocated for the development of authentic entertainment districts that reflect the city’s unique soul and community vibe. His vision includes “funky fun” experiences, a distinct cultural identity, and a vibrant, walkable nightlife scene.

When meeting with Norb Vnek of Savills, several key themes emerged around Raleigh’s evolving real estate landscape, its competitive positioning, and the broader forces shaping investment decisions.

• Office Market Milestone: Norb highlighted the significance of Raleigh reaching the $50/sq ft benchmark for Class A office space. This milestone signals to external investors that the market is maturing—positioning Raleigh as a serious contender for increased capital flow and development.
• Market Comparisons: Dallas is grappling with rising costs in housing and commercial real estate, yet continues to draw interest from financial and asset management firms. Norb sees Wake County’s life sciences ecosystem as more comparable to Boston than Austin, citing its economic diversity and innovation capacity. Meanwhile, Austin’s commercial real estate market is struggling, making it a less relevant benchmark for Raleigh’s trajectory.
• Managing Growth: Norb praised Raleigh’s approach to growth, calling its infrastructure investments “superlative” and “laudable.” He also commended the public school system, attributing its success to strong community support and bond-funded investments. Affordability remains a key advantage for Raleigh, and Norb emphasized that it’s not just about cost—it’s about equity of opportunity. The school system, in particular, reflects the region’s commitment to inclusive growth.

Finally, the team met with Jeff Marcus and the team at Mack Real Estate, who are also EDGE 7 investors. During the meeting, the leadership team discussed the macro economy impacting investments across the U.S. and where Mack Real Estate Group is focusing its efforts. The team, along with SLI Capital, are completing The Weld, a $700 million multi-family development near Dorothea Dix Park in Downtown Raleigh. Mack has also invested in a grocery anchored retail center in Cary. The company’s portfolio across the U.S. includes multi-family, office, retail and industrial. 

The visit to New York City provided a valuable platform to showcase Raleigh and Wake County’s strategic advantages to key real estate and investment stakeholders. From climate resilience and infrastructure investments to lifestyle innovation and inclusive growth, the conversations underscored the region’s growing appeal as a dynamic, forward-thinking market. These meetings not only reinforced Raleigh’s competitive positioning but also opened doors for future collaboration and investment. As the Triangle continues to evolve, these insights will help shape a compelling narrative for attracting capital, talent, and opportunity to the region.