Oct
10

Commercial Brokers Discuss Greenville Market

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October 10, 2008

By Richard Breen – SCBIZ Daily Staff

While the Upstate still holds fundamental strengths in the real estate market, it is not immune to the national credit crisis – and it still may not have hit bottom.

“This is different than anything I’ve ever seen,” said David Walker of First Citizens Bank. Walker was among several experts who spoke Thursday at the 5th Annual Greenville Commercial Market Forecast.

Frank Rizzo, regional director with CoStar Realty Information Inc., said the Upstate will continue to bring in new residents and businesses. “The leasing activity over the last couple of years has been declining, but it’s still an attractive market,” he said. “If the deals are right, they’re getting financed and getting made.”

Financing is a sticky subject, however.

“The slowdown here is a credit-induced slowdown,” said Bogue Wallin, chief operating officer with Pacolet Milliken Enterprises Inc., an investment fund affiliated with Milliken & Co. “Getting capital is a difficult thing.”

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.scbizmag.com/content/view/89682/1/
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BLOG NOTE:
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I attended this event, and is was well done. Several of the blog e-mail subscribers were there as well, although I didn’t get to speak to as many people as I would have liked.
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Mike Dodds

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