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Colliers Report: Columbia warehouse space in high demand

 

Key Takeaways Trade negotiations between the U.S. and China will likely benefit Columbia through increasing imports and exports; therefore, raising demand from out-of-market users seeking a location in Columbia due to its central location and accessibility to logistics. Over the past year, the Columbia industrial market has absorbed 3.30 million square feet and the vacancy…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

CBRE facilitates sale of 96.00 acres in Spartanburg to industrial developer

 

CBRE has arranged the sale of 96.00 acres of industrial land in Spartanburg, SC. The property is located on Pottery Road, at the intersection of Interstates 85 and 26. The property sold to Exeter Pottery Land, LLC. Exeter Property Group, with nearly $20 billion in assets under management, is among the largest real estate investment…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move

Columbia Metropolitan Airport (CAE) selects Magnus to develop 500 acres of commercial and industrial property

 

Magnus Development Partners has been chosen as the Master Developer for Columbia Metropolitan Airport’s surrounding property. Magnus will work with CAE to determine the highest and best use for each property and create supporting development plans for the available land parcels. Each parcel offers unique features based on its size, configuration, location, and zoning therefore…

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Posted in: midlandsbiz   Category: commercial-real-estate, headlines, on-the-move

Colliers Report: Charleston’s absorption is positive despite new construction deliveries

 

Key Takeaways The overall market vacancy rate has fluctuated over the past year while new industrial construction was underway, and is now 8.87% during the fourth quarter of 2019. The Charleston industrial market absorbed 2.5 million square feet from the fourth quarter of 2018 through the fourth quarter of 2019, 453,503 square feet were absorbed…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

BullStreet District’s Babcock Building moves one step closer to renovation

 

Historic renovation specialist Clachan Properties assumes ownership The BullStreet District’s storied Babcock Building, one of downtown Columbia, South Carolina’s most iconic buildings, has a new owner for the first time in its history. Title of the building was given to Clachan Properties, the Richmond, Virginia-based historic renovation specialist, by Hughes Development Corporation, master developer of…

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Posted in: lowcountrybizsc, midlandsbiz, upstatebizsc   Category: architecture, commercial-real-estate, on-the-move

RealOp Investments enters the Orlando market with first office acquisition

 

RealOp Investments, a Greenville, South Carolina-based commercial real estate investment firm, recently made its first foray into the Orlando market with the acquisition of Lake Destiny Executive Center at 1101 North Lake Destiny Road, Maitland, Florida. “Orlando has been on our radar since 2016, so we are pleased to have planted our flag in the…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move

Seabreeze Marina Sale

 

Carolina Commercial, LLC has facilitated, for both the Buyer and the Seller, the sale of the Seabreeze Marina and the Seabreeze Office Building in Charleston, SC. Charlie Moore, SIOR CCIM Dunston Powell, CCIM

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

Coldwell Banker Commercial Caine brokers represent local real estate transactions

 

Brokers from Coldwell Banker Commercial Caine’s Greenville and Spartanburg offices recently represented the following area real estate transactions from the month of December: Sales Spartanburg:  Tim Satterfield of Coldwell Banker Commercial Caine represented Southport Property Investors, LLC (Seller) in the sale of a +10,000 SF industrial building on +3 acres at 110 Ian Ct., to GIMECO USA, LLC…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move

Coldwell Banker Commercial Caine’s Sammy DuBose honored with national commercial award

 

Sammy DuBose, commercial broker, was recently honored by the National Association of REALTORS® for his engagement and dedication in his profession. Each year, the National Association of REALTORS® recognizes commercial real estate professionals for their achievement and commitment to their communities. This year, they honored 59 Realtors® throughout the country. Sammy DuBose was one of three honorees…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move

Colliers Report: What will take the Columbia office market to the next level?

 

Key Takeaways The overall Columbia office market absorbed 56,270 square feet from the fourth quarter of 2018 to the fourth quarter of 2019. There are less office-using jobs in Columbia than there were at year-end 2018; therefore, the demand for office space is decreasing. Columbia’s annual office vacancy rate decreased from 10.73% during the fourth…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

Industrial commercial real estate demand on the rise

 

Despite global uncertainty surrounding trade policy, slowing growth in payroll employment, a drop-off in business investment, and general volatility in the global market, base fundamentals indicate that the US commercial real estate market remains on a strong footing. National rental growth has increased and vacancy levels have decreased across property types. In November, US commercial…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

The Pete Store breaks ground on new South Carolina facility

 

The Pete Store, LLC announced that construction is underway on a new 40,000 sq.ft. facility located in West Columbia, SC. Located on 11 acres just off I-26 at Exit 119, the dealership will feature 19 air-conditioned service bays and increase parts warehouse space by 300%. “We first opened our doors in Columbia 10 years ago,…

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Posted in: midlandsbiz   Category: commercial-real-estate, construction, economic-development, employment, headlines, on-the-move, transportation

Bob Nuttall, SIOR, CPM and Cori Nuttall represented the buyer in a $3.45 million 1031 exchange

 

Lee & Associates Charleston’s Bob Nuttall, SIOR, CPM and Cori Nuttall represented the Buyer in the purchase of 3 Dollar Generals in South Carolina in December 2019 which represented the back end of a 1031 exchange: – A 9,026-square-foot store located in North, SC – A 9,002-square-foot store located in Wedgefield, SC – A 9,002-square-foot…

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Posted in: lowcountrybizsc, midlandsbiz   Category: commercial-real-estate, on-the-move

Wade Allen is named president of Lee & Associates Charleston

 

Senior real estate leader in the office, retail, industrial, and institutional sectors brings over 35 years of commercial real estate experience Wade Allen, a senior executive with over 35 years of domestic and international experience in the real estate industry, has been named president of the Charleston, SC office of Lee & Associates. Mr. Allen…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, headlines, on-the-move

Alia Bostaji Joins Colliers International’s National Hospitality Group working with the Zaver Hotels Team

 

Alia Bostaji, a Brokerage Associate with Colliers International | South Carolina, has joined Colliers’ National Hospitality Group working with the Zaver Hotels team. This group of commercial real estate brokers specializes in hotel property transactions and has experience in franchise negotiations, financing, rebranding and marketing for hotel, startup and turn-around investment properties across the United…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

Clay Williams recognized as the 2019 Caine Halter Commercial REALTOR® of the Year

 

Clay Williams, an industrial broker for NAI Earle Furman, was selected as Caine Halter Commercial REALTOR® of the Year. The Greater Greenville Association of Realtors annually recognizes one commercial realtor in the Greenville area based on their commitment to their profession and community. Clay Williams graduated from the College of Charleston in 2007 and spent the…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move

Avison Young Greenville, SC commercial real estate transactions

 

Greenville, SC Market 12/16/2019 Avison Young commercial real estate announced that Rakan Draz and John Odom, CCIM represented More Mustard, LLC in the leasing of 2,650 sf retail/restaurant space located at 1503 E. North Street in Greenville, South Carolina, from 1503 Overbrook, LLC. Cortney Carter and Braydon Wynn of Collett Real Estate represented the Landlord.…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move

Avison Young Charleston commercial real estate transactions

 

Charleston, SC Market 12/20/2019 Avison Young commercial real estate announced that Todd Garrett, CCIM, SIOR, Tradd Varner and Daniel McClam represented Gary Thorpe and Diane Thorpe in the leasing of 2,400 sf of industrial space located at 3281 Associate Drive in North Charleston, South Carolina, to Russell Landscaping Partners, LLC. Ed Sutton of Simply Commercial…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

Colliers Report: Charleston office market anxiously awaits delivery of new construction

 

Research & Forecast Report Q4-2019 CHARLESTON | OFFICE Key Takeaways During the fourth quarter of 2019, the overall Charleston office market absorbed 64,329 square feet. New construction and upgraded space availabilities increased the overall average weighted rental rate to $25.72 per square foot during the fourth quarter of 2019. Due to completed construction outweighing absorption,…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

Historic McCrady’s Tavern property on the market for sale or lease

 

An almost 10,000-square-foot historic property at 2 Unity Alley is on the market for $5.95 million. Formerly McCrady’s Tavern, the listing is being managed by the Charleston Commercial Team of KW Commercial, a local real estate investment firm, and a key player in the downtown Charleston real estate market. The property is also available for…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

Colliers International Dealmakers: Recent purchases, sales, leases and investments in South Carolina

 

  Colliers International | South Carolina announced the following recently completed commercial real estate transactions from our offices across the state: Charleston, SC Mark Erickson, SIOR and Matt Pickard represented M2 Land, LLC in the purchase of a 15,000-square-foot industrial warehouse on 3.8 acres located at 3240 Industry Drive in North Charleston for $1,924,000. Columbia,…

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Posted in: lowcountrybizsc, midlandsbiz, upstatebizsc   Category: commercial-real-estate, on-the-move

Charleston office advisors leased 10,562 SF at 1475 Long Grove Drive

 

Lee & Associates Charleston’s Reid Davis, CCIM, SIOR, Pete Harper, CCIM, and Cameron Yost, represented the Landlord, Long Grove Partners, LLC in the leasing of the soon to be built 10,562 SF facility located at 1475 Long Grove Drive, Mt. Pleasant, SC to the tenant, Ivybrook Academy who was represented by David Clark with Coldwell…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

Charleston office advisors leased 2,766 SF at The Truck Center

 

Lee & Associates Charleston’s Reid Davis, CCIM, SIOR, Pete Harper, CCIM, and Cameron Yost, represented the Landlord, 1014 St. Andrews Office Building, LLC in the leasing of 2,766 SF of Medical Office space located at 1014 St. Andrews Boulevard, Suite 210 B, Charleston, SC to the tenant, Advanced Dentistry of South Carolina, LLC who was…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

Charleston office advisors leased 2,000 SF at 1856 Belgrade Avenue

 

Lee & Associates Charleston’s Cameron Yost, Pete Harper, CCIM, and Reid Davis, CCIM, SIOR, represented the Landlord, 1856 Belgrade Avenue, LLC in the leasing of 2,000 SF of Flex Office space located at 1856 Belgrade Avenue, Suite B-2, Charleston, SC to the tenant, O’Dell Landscaping.    

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

Freshfields Village now leasing office space

 

Freshfields Village and Northwood Retail are now leasing Class A office space. Located just 30 minutes from historic downtown Charleston, Freshfields Village sits in the sea islands. Situated in a high-traffic area at the crossroads of Kiawah, Seabrook and Johns Islands, this location offers immediate access to an amenity-rich shopping and dining center with every…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

ROI Commercial closes on +/-14,000 square foot retail center in Lexington

 

George Meetze, a Broker and Principal at ROI Commercial, represented the seller in the sale of a 14,000 square foot retail center at 924 E. Main Street, Lexington, SC. Sherri Burriss, also a Broker and Principal at ROI Commercial, represented the purchaser Midtown Fellowship. This will be the third location for the growing church, with…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

Coldwell Banker Commercial Caine Brokers represent local real estate transaction

 

Brokers from Coldwell Banker Commercial Caine’s Greenville and Spartanburg offices recently represented the following area real estate transactions from November: Sales Spartanburg:  Tim Satterfield of Coldwell Banker Commercial Caine represented Jasper Group, LLC (Seller) in the sale of a +4,541 SF office/retail building on +0.52 acre at 451 E. St. John St., to Richard Francis Company Real Estate Holdings,…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move

Allen Wilkerson and Mary Winter Teaster of Colliers International assist Greater Columbia Chamber of Commerce in locating new office

 

Colliers International | South Carolina’s Allen Wilkerson and Mary Winter Teaster represented the Greater Columbia Chamber of Commerce in locating office space at 1225 Lady Street in the heart of Downtown Columbia’s central business district. The new office location will allow the Chamber to create efficiencies within its space while modernizing operations and technology. “The…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

Coldwell Banker Caine announces new residential and commercial partnership

 

Partnership with Red Oak Developers for upcoming community, Piedmont Village Coldwell Banker Caine and Coldwell Banker Commercial Caine announced a new partnership to manage the sales and marketing of Piedmont Village, a residential and commercial community in Piedmont, SC. Red Oak Developers had the vision to revitalize this charming historic mill village into a thriving…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move, residential-real-estate

RealOp Investments sells three assets totaling $13.365M

 

Leading commercial real estate investment firm, RealOp Investments has sold three properties in South Carolina and Georgia. The three properties totaling $13.365M in sales and 82,849 square feet are: Shoppes At 72 Bypass – 474 Bypass 72 NW, Greenwood, South Carolina The two tenant 5,711-square-foot Greenwood retail center was fully leased at the time of…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move

OTO development enters St. Pete Beach hotel market

 

South Carolina hotelier purchases, plans to renovate Howard Johnson OTO Development has jumped into the seaside hotel market in St. Pete Beach by purchasing the Howard Johnson by Wyndham St. Pete Beach FL Resort Hotel. The purchase was finalized on December 5 between the Reagan Family Trust and OTO Development. “We are continually surveying the…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move

NAI Columbia represented the tenant in the lease of 6,980 square feet of space at 1307 Marley Drive

 

NAI Columbia’s John Gregory, PE, and Alex Johnson represented the tenant, Pye-Barker Fire & Safety., in the lease of approximately 6,980 SF of flexible space at 1307 Marley Drive in Columbia, South Carolina. “Given Columbia’s tight warehouse/flex market, it was difficult to find a space that met Pye Barker’s logistical and geographical needs. Through being…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

LCK Report: South Carolina Construction Starts are Down

 

  Research & Forecast Report Q3-2019 SOUTH CAROLINA | CONSTRUCTION TRENDS   Key Takeaways Statewide construction starts have decreased across most sectors over the past year while indicators tracking pre-development activities are up. Construction activity is expected to remain strong in 2020 with only a moderate slowdown over 2019. Construction costs across all sectors are…

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Posted in: lowcountrybizsc, midlandsbiz, upstatebizsc   Category: commercial-real-estate, on-the-move

BayFront Development Launch

 

Real estate decision making can be complicated and stressful. No matter how large or small, the process can be overwhelming for any company. Thus, Ron Sutphin Jr. created BayFront Development to help alleviate this challenge for companies both large and small. With over 35 years of collective experience in construction, development, and management — the…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

BayFront Development Launch

 

Real estate decision making can be complicated and stressful. No matter how large or small, the process can be overwhelming for any company. Thus, Ron Sutphin Jr. created BayFront Development to help alleviate this challenge for companies both large and small. With over 35 years of collective experience in construction, development, and management — the…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

Milton Thomas, CCIM, SIOR sold 1.20 acres in Moncks Corner

 

Lee & Associates Charleston’s Milton Thomas, CCIM, SIOR, represented the Seller, First Citizens Bank & Trust Company in the sale of 1.20 Acres of land located at 646 Rembert C. Dennis Boulevard in Moncks Corner, SC to the Buyer, 2418 N. Main, LLC.      

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

BayFront Development

 

BayFront Development, LLC specializes in Site Selection, Build-to-Suit Opportunities, Public-Private Partnerships, Land Acquisition, Leasing & Consulting Services. Between the two partners, there is over 35 years of collective experience in construction, development, and management. This body of knowledge enables our valued client base to reap the benefits of a large firm, while engaging with local…

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Posted in: lowcountrybizsc   Category: commercial-real-estate

Argentina Perez transitions to new role as Property Administrator at Colliers International

 

Colliers International | South Carolina announces that Argentina Perez has transitioned to a new role with the firm as a Property Administrator within the Real Estate Management Services (REMS) team. As a Property Administrator, Perez is responsible for supporting the administrative responsibilities of the Property Manager and building engineering team in the daily operations and…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

Charleston office advisors sold 6,306 SF Bank at 337 E. Main Street

 

Lee & Associates Charleston’s Cameron Yost, Reid Davis, CCIM, SIOR, and Pete Harper, CCIM represented the Seller, Pinnacle Bank in the sale of a 6,306 SF Bank used as an office located at 337 E. Main Street in Moncks Corner, SC. The Buyer, Manzi Opportunity Zone, LLC was represented by Trey Lucy and Blair Belk…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

Nicholson joins Flagship Commercial

 

Chisolm Nicholson recently joined Flagship Properties, an Upstate-based real estate company that offers commercial sales, leasing, and property management services. Nicholson’s role at the real estate organization will include commercial sales and leasing, along with support of the company’s marketing, research, and financial analyses. Previously, he worked with a local real estate company where he…

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Posted in: upstatebizsc   Category: commercial-real-estate, on-the-move

Colliers International brokers lease extension at 1900 Pineview Road

 

Colliers International’s Chuck Salley, SIOR, Dave Mathews, SIOR, Thomas Beard and John Peebles represented Carolina Industrial Properties in a ten-year lease extension for Alpha Media at 1900 Pineview Road in Columbia. “The ownership agreed to make substantial improvements to the property that will serve Alpha Media for many years. Alpha Media is a great asset…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

Colliers Report: Charleston shop types match changing consumer preferences

 

Key Takeaways The Charleston retail market absorbed 204,454 square feet of shopping center space during the third quarter of 2019. Overall weighted rental rates for remaining shopping center space averaged $16.59 per square foot this quarter – lower than the first two quarters of this year – mostly due to lesser quality space remaining in…

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

Colliers International represents Reger Holdings in 280,000-square-foot lease at 10700 Farrow Road

 

Colliers International’s Chuck Salley, SIOR, Dave Mathews, SIOR, Thomas Beard and John Peebles represented the landlord in leasing space to Jushi USA at 10700 Farrow Road in Columbia. The property is part of the Carolinas Industrial Properties portfolio, owned by Reger Holdings LLC, which consists of 39 buildings, 5.5 million square feet and 55 tenants…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

Cushman & Wakefield | Thalhimer reports the following recent lease transactions in the Charleston area

 

Wells Fargo Bank NA leased 30,848 square feet of office space in The Jasper at 320 Broad St., Charleston, SC.  Ed Kercher handled the lease negotiations on behalf of the tenant. Konica Minolta Business Solutions USA, Inc. renewed its lease of 3,071 square feet of office space at 3520 W. Montague Ave., North Charleston, SC. …

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Posted in: lowcountrybizsc   Category: commercial-real-estate, on-the-move

Trinity Partners represents purchaser in sale of 5506 Platt Springs Road, Lexington, SC

 

Trinity Partners recently facilitated the land sale of 1.6 acres at 5506 Platt Springs Road in Lexington, South Carolina. Partners Nick Stomski, SIOR and Roger Winn, SIOR of Trinity Partners represented the purchaser, AllSouth Federal Credit Union, in the transaction. The seller, RPW Publishing Corp., was represented by Southern Visions Realty. “Given his expertise on…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

DP3 Architects, Ltd. announces leadership transition

 

Brian S. Thomas, AIA has been named President and Chief Operations Officer of DP3 Architects, Ltd. assuming responsibility for the day-to-day management of the firm. Thomas graduated from Clemson University where he earned undergraduate and Master of Architecture degree. He has been with the firm since 1993 and is the restaurant studio leader for the…

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Posted in: upstatebizsc   Category: architecture, commercial-real-estate, on-the-move

Wilson Kibler releases third-quarter industrial market reports

 

Columbia Industrial Market Continues to Thrive Despite National Economic Concerns For most of the period since May, the yield spread has been negative as a result of tightening monetary policy—a reflection of investor pessimism about inflation and growth that has been exacerbated by the trade war. In early October, though, the spread turned slightly positive…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

Wilson Kibler releases third quarter market reports: Columbia sees growth in suburban office market

 

For most of the period since May, the yield spread has been negative as a result of tightening monetary policy—a reflection of investor pessimism about inflation and growth that has been exacerbated by the trade war. In early October, though, the spread turned slightly positive following the announcement that the United States and China had…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

Colliers International brokers represent the landlord and tenant in the leasing of office space to United Community Bank at 1901 Main Street

 

Colliers International | South Carolina’s Allen Wilkerson represented the landlord, AgFirst Farm Credit Bank, and Craig Waites represented the tenant United Community Bank, in leasing office space at 1901 Main Street in downtown Columbia. United Community Bank, headquartered in Blairsville, Georgia, entered the South Carolina market in 2012 and now has 147 offices in South…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move

ROI Commercial recently completed the following transactions

 

ROI Commercial Brokerage team George Meetze and Sherri Burriss worked together to co-broker the following transactions: • Represented the landlord in the lease of 28,000 SF of office/warehouse space located at 971 Harbor Drive in West Columbia to Trane US, Inc. This new location will serve as a regional location for Trane Carolinas, which is…

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Posted in: midlandsbiz   Category: commercial-real-estate, on-the-move