Jun
17

New Greenville Industrial Park Planned

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sudlerThe Sudler Companies, a New Jersey based Real Estate Development firm is introducing Fox Hill Business Park, the newest Class A business park in Greenville, South Carolina. The park will serve as the best in class industrial real estate center in Upstate S.C., strengthening the established mix of manufacturing, warehousing, and distribution operations. Immediate interstate access, availability of all utilities and a strong and skilled workforce will create an attractive opportunity for companies either expanding an existing business or establishing a new presence in the business-friendly market of Upstate, South Carolina. Fox Hill Business Park, at 172 acres, is positioned to accommodate multiple buildings with a wide variety of configurations to meet both distribution and manufacturing needs.

The park will break ground with a ±206,410 SF spec building situated at its entrance. The new Class A building will feature 32′ clear ceiling heights, concrete construction, additional trailer parking, and ample car parking for employees. These components paired with interstate accessibility and a robust labor force make it an ideal site for a multitude of users. Given today’s business climate, quality of buildings is imperative when it comes to how tenants operate in the buildings as well as overall employee satisfaction.

Categories : Greenville
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Jun
17

Gap in Buyer, Owner Expectations in Pricing Continues

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gapWhile commercial property prices have not yet had a major decline in connection with the corona virus pandemic, the gap between buyers’ and owners’ expectations on price has widened, Real Capital Analytics Senior Vice President Jim Costello wrote in an RCA Insights blog post.

Researchers at the MIT Center for Real Estate Price Dynamics Platform analyzed the disconnect and found that the gap is growing, especially in the retail and office sectors, Costello wrote.

If owners tried to make up the recent decline in deal volume by cutting prices, the MIT researchers found, they would have to reduce office prices by 12% and apartment prices by 8%, Costello wrote.

READ MORE HERE

Categories : Uncategorized
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Jun
16

What to Know About Parking Ratios

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thinkstock_parking_lot-100597245-largeYour office can only hold as many people as can get there. Given that, according to the 2017 American Community Survey, 76.4 percent of them drive themselves there, it’s more accurate to say that your office can only hold as many people as can drive — and park — there. With this in mind, your building’s parking ratio has a huge impact on how well you can accommodate your workforce.

READ MORE HERE

Categories : Uncategorized
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Jun
16

Lexington County Reassessment Notices Coming

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tax appeal approved thinI have been told that the revaluation notices from Lexington County are set to be mailed in late July. Please keep me in mind if you need someone to review your notice on your commercial property.

Michael Dodds, MAI, CCIM

Categories : property taxes
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Sep
12

Coldwell Banker Commercial Caine Announces Transactions

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cbcc-logoGreenville: Pete Brett, CCIM, David Sigmon, CCIM, SIOR and Matt Vanvick represented R & C Rental Properties, LLC (Purchaser) in the purchase of a +20,300 SF medical office building on +2.68 acres at 32 Centennial Way, from 32 Stoney Point Drive, LLC (Sellers).

Spartanburg: Wiley North represented William E. Thompson, Jr. & Lewis E. Lancaster, III (Seller) in the sale of a +2,100 SF office building on +0.31 acre at 670 E. Main St., to David Edward Tate (Purchaser).

Spartanburg: Wiley North represented 112 Belton, LLC (Purchaser) in the purchase of a +14,313 SF industrial building on +3.96 acres at 110 Old Greenville Rd., from Spartan Leasing Co., Inc. (Seller).

Greenville: Sammy DuBose represented Verdae Properties, LLC (Landlord) in lease renewal negotiations with PetSmart, Inc. (Tenant) for the leasing of a +25,015 SF retail space at MarketPlace Shopping Center, 2449 Laurens Rd.

Greenville: Sammy DuBose represented Woodvan, LLC (Landlord) in lease renewal negotiations with TD Bank, NA (Tenant) for the leasing of a +3,000 SF retail building at 1216 Woodruff Rd.

Categories : Greenville, Spartanburg
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Sep
12

SC Ranks 3rd in Top States for Doing Business

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scAs we are coming to an end of this decade, we realize that location selection consulting is approaching 100 years as an active professional service. Over that time period, there have been maybe four or five generations of advisors who have come into this business — bringing fresh ideas, differing approaches, and new perspectives to the clients they serve. Now that the most recent feedback has been received from these consultants, out of curiosity, one must ask, how have things changed over time and has the importance of those factors suggesting “Best States” varied with the times?

READ MORE HERE

Categories : South Carolina News
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Aug
29

Thinking About Appealing Your Taxable Value?

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appeal approvedReassessment notices from Richland, Horry, Berkeley, Dorchester and Florence Counties have either been mailed or will be mailed soon. Contact me if you need assistance with deciding if an appeal of a commercial or high-value residential property is warranted.

Knowing your property taxes are too high is one thing, proving it is another…..

Michael Dodds, MAI, CCIM      mdodds@irr.com

 

Categories : South Carolina News
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Aug
28

Raleigh Apartment Vacancy at Historic Low

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real data LogoAccording to Real Data, demand for apartments in the Raleigh-Durham metro area remains strong, squeezing the average vacancy rate to a historic low of 4.9%. New development in the pipeline continues to grow, with more than 11,000 units currently under construction or proposed throughout the area. The most active submarket is Wake-Central, which includes downtown Raleigh, where there are nearly 2,000 units under construction.

Rent growth for apartments also remains strong, with the average rental rate now at $1,210 per month. Wake-Central has the highest average rent at $1,306 per month. The average vacancy rate is expected to remain between 5.0% and 6.0% in the coming year and rent growth is expected to remain strong.

Categories : Raleigh
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Aug
28

W. Columbia Self Storage Facility Sold

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eagle storageA two-property portfolio located in West Columbia, SC, was sold in late July to an out of state investment firm. The buyer formed an LLC for the purpose of acquiring the facility.

Eagle Self Storage consists of two facilities located about 3/10 of a mile from each other. The facilities feature a combined 337 self storage units and 35,625 RSF, situated on 5.31 acres with room for potential expansion or parking. Amenities include lighting, fencing and an office.

Categories : Columbia
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Jul
18

I Can Assist With Your Richland County Tax Appeal

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appeal approvedRichland County recently mailed the revaluation notices to those owners with increases of $1,000 or more in their taxable value.  If you own commercial or high-value residential property in Richland County, I can help you decide if an appeal is warranted. While the assessor’s office does a good job in general, reappraising every property in any county is a difficult job, and mistakes are often made. Knowing that your taxable value is too high is one thing, proving it is another.

Mike Dodds (803) 960-8783

Twitter users can follow my tax appeal feed at https://twitter.com/IntegrityPTA

Categories : Columbia
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Jul
18

Avison Young Announces Transactions

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avison young logoAvison Young welcomes Ever Row clothing & lifestyle brand to the Greenville market. Rakan Draz & John Odom, CCIM represented Atlantic South Development in the leasing of 525 sf retail space located at 1 Augusta Street in Greenville, SC, to Ever Row, LLC.

Avison Young commercial real estate is pleased to announce that Rakan Draz & John Odom, CCIM represented Winward Partners IV, LP in the leasing of a 1,500 sf retail space located at 5018 Old Spartanburg Rd. in Taylors, South Carolina, to Paradigm Health Group. Lakin Parr of Pintail Capital represented the tenant.

Avison Young commercial real estate is pleased to announce that Todd P. Garrett, CCIM, SIOR and Tradd Varner represented Pepperdam Industrial, LLC in the lease extension of 4,500 sf of office/warehouse space located at 7440 Cross County Road in North Charleston, South Carolina, to Ed Evans.

Avison Young commercial real estate is pleased to announce that Leslie Fellabom, Chris Fraser, CCIM and Kisha Lyles represented 99 WestEdge Developer, LLC in the leasing of 2,894 sf of retail space located at Caroline at 99 WestEdge in Charleston, South Carolina, to Majestic Nails & Spa. Mark Erickson of Colliers International represented the Tenant.

Avison Young commercial real estate is pleased to announce that Kisha Lyles, Chris Fraser, CCIM and Leslie Fellabom represented Kingfisher Investments VI, LLC in the leasing of 660 sf of office space located at 720 Magnolia Road in Charleston, South Carolina, to 3 Days Rising Incorporated.

Avison Young commercial real estate is pleased to announce that Vitré Ravenel Stephens represented McDew, LLC, in the leasing of 1,200 sf retail space located at Mark IV Shopping Center at 5131 Dorchester Road, in North Charleston, South Carolina, to Richard Powell.

Categories : Charleston, Greenville
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Jul
18

Greenville Apartment Report Released

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real data LogoReal Data has released the Greenville-Spartanburg-Anderson Apartment Index report for June 2019. Below is a quick summary of market conditions.

  • Real Data recorded the lowest vacancy rate (5.4%) for the area in over twenty years
  • The majority of units under-construction are located in the Greenville-South submarket
  • The average monthly rental rate surpassed the $1,000 mark over the past six months

The report can be ordered at www.aptindex.com

Categories : Greenville
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Jun
10

Avison Young Announces Charleston Transactions

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avison young logoTodd Garrett, CCIM, SIOR and Tradd Varner represented 756 St Andrews Blvd, LLC in the lease expansion of 4,200 sf industrial space located at 7187 Bryhawke Circle, Unit 200 & 300 in North Charleston, South Carolina, to SS Medical , Inc.

Todd Garrett, CCIM,SIOR and Tradd Varner represented 2652 Bonds Ave, LLC in the leasing of 1,500 sf industrial space located at 2652 Bonds Avenue, Ste 201 in North Charleston, South Carolina, to Charlestowne Stained Glass. Bryan Delgado of Roadstead Real Estate Advisors, LLC represented the Tenant.

Vitré Ravenel Stephens represented Mantek Properties, LLC, in the leasing of 1,580 sf of retail space located at 1379 Ashley River Road, Suite 200, in Charleston, South Carolina, to the Charleston County Democratic Party. Joseph Tecklenburg, of CC&T Real Estate, represented the Tenant.

Vitré Ravenel Stephens and David Mantek represented Folly Camp, LLC, in the leasing of 2,000 sf of retail space located at the Shoppes of Folly, at 915 Folly Road, Suite P, in Charleston, South Carolina, to Fit Body Boot Camp. Bryan Colombik of Catalyst Commercial Group represented the Tenant.

Categories : Charleston
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Jun
10

Spec Building Coming Near Dillon Inland Port

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Dillon SpecA new logistics center is coming to a location near Inland Port Dillon. Leasing has been assigned at a new 373,100-square-foot speculative industrial development called the 95 Inland Port Logistics Center. The center is located in Dillon County, located just one mile from Inland Port Dillon.

CBRE’s Bob Barrineau and Brendan Redeyoff, as well as Palmetto Commercial Real Estate’s Drew Chaplin, are spearheading leasing efforts at the property.

“Inland Port Dillon allows cargo owners to have increased flexibility and gain efficiency on their inland transportation expense,” Barrineau said. “We’re very excited to market the closest spec building to the Inland Port. The property’s strategic location and proximity to the Inland Port is going to generate substantial interest from importers and exporters taking advantage of direct access to the Port of Charleston via CSX rail, lower cost of empty containers, demurrage savings and reducing their carbon footprint.”

READ MORE HERE

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Jun
10

Cushman & Wakefield | Thalhimer Opens Columbia Office

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CW ThalhimerCushman & Wakefield | Thalhimer has announced they have established an office in Columbia, SC, located at 1320 Main Street, Suite 300. Additionally, Spencer Green has joined the Columbia office as a vice president, and will focus on office and industrial sales and leasing in Thalhimer’s new office. Mr. Green comes to Thalhimer from Cushman & Wakefield’s Atlanta, Georgia office where he was a Director of the Logistics and Industrial Service Group, providing clients with strategic and creative transactional services including site selection, market research, financial analysis, leasing and purchasing new space, and selling excess space. Mr. Green has expertise with companies with a multi-market presence and a need for portfolio services, managing more than 100 locations for multi-market clients in the United States and Canada.

The Columbia office is Thalhimer’s third location in South Carolina. They opened offices in Charleston and Greenville in 2012 and have 13 brokerage professionals and 3 property management associates in those markets. Brian J. Young, CCIM, SIOR, Senior Vice President and Managing Broker of Thalhimer’s Greenville office, will oversee the Columbia market in addition to his Upstate responsibilities.

Spencer Green comments “I look forward to the opportunity to build on the momentum Cushman & Wakefield | Thalhimer is already having in the state of South Carolina and I am excited to bring a new approach and an iconic brand to the commercial real estate industry in Columbia.”

Categories : Columbia
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