Archive for June, 2009

Jun
19

Meadwestvaco, Rockefeller Group Break Ground on Logistics Park

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– scbiznews.com

Donning suits and hard hats, politicians joined officials from MeadWestvaco Crop. and Rockefeller Group on Thursday afternoon as the two companies broke ground on their joint-venture logistics park near Jedburg.

Initial work will begin on road improvements to a one-mile stretch of Drop Off Drive in an effort to make that frontage road ready to handle truck traffic. The groundbreaking also kicks off work on the site pad for the first of four planned buildings. The goal is to create a plot where a building could be erected in a matter of months if a tenant is secured.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://charlestonbusiness.com/news/28223-meadwestvaco-rockefeller-group-break-ground-on-logistics-park
Categories : Charleston
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Jun
19

IRR-Residential Chairman Provides Testimony Before House Subcommittee

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The Chairman of IRR-Residential, Kevin Nunnink , MAI, SRA , MRICS, testified Thursday, June 18 before the Oversight and Investigations Subcommittee of the House Financial Services Committee. The purpose of the hearing was “Strengthening Oversight and Preventing Fraud in FHA and other HUD Programs.”

Following is a link to the Subcommittee website that provides access to a video of the hearing and related documents:

http://www.house.gov/apps/list/hearing/financialsvcs_dem/oihr_061109.shtml

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Jun
19

Historic Litchfield Plantation to Get New Owner

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– The Sun News

New owners are bringing big changes to Litchfield Plantation, with plans to add amenities such as pools, change the management and build about 100 houses.

Litchfield Plantation Development Co., a Pawleys Island business that developed and marketed parts of Litchfield Plantation for the past few years, has a contract to buy the 600-acre development for an undisclosed price from a family business that’s owned the property for 30 years.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thesunnews.com/news/local/story/945142.html
Categories : Myrtle Beach
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Jun
18

Housing Shores Up Greenville’s Economy

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– Greenville News

Residential real estate is proving to be Greenville’s saving grace in the recession, with year-over-year price appreciation here fifth best among the 100 largest metropolitan areas in the country.

Greenville’s overall economy ranks in the middle of metro areas in the United States, according to the Brookings Institution’s quarterly MetroMonitor, which tracks recent economic performance. Columbia is among the second highest 20 metro areas and Charleston ranks in the middle.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.greenvilleonline.com/article/20090618/BUSINESS/906180315/1001/NEWS/Housing-shores-up-Greenville-s-economy?GID=CTrWOblKRSO6jCPHyVpaxOcgqNXaqYfvvOSVsSwDaRM%3D

Categories : Greenville
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Jun
18

Little Fallout Expected From Crescent Bankruptcy

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– upstatetoday.com

The local impact of last week’s bankruptcy filing by Crescent Resources is expected to be minimal.

Crescent is a joint venture of Duke Energy and Morgan Stanley Real Estate Funds. It is the principle agent for development of properties around Lake Keowee and Lake Jocassee.

On June 10, the real estate development company and 120 of its subsidiaries, saddled with more than $1 billion in liabilities, filed for voluntary Chapter 11 bankruptcy protection. The firm has over 5,000 creditors and reportedly faced payments of $50 million by the end of this year, $75 million in 2010 and $100 million in 2011 on its debt.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.upstatetoday.com/news/2009/jun/17/little-fallout-expected-crescent-bankruptcy/

Categories : Greenville
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Jun
18

Comporium Eyes Site Downtown for Project

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– The Herald

After years of searching, Rock Hill might have finally found a developer to undertake a major new project in downtown. But the plan comes from a surprising source.

Comporium Communications wants to bring retailers and residences to a high-profile corner across from its headquarters, in what could be downtown’s biggest new construction project in decades.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.heraldonline.com/front/story/1417905.html
Categories : Rock Hill
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Jun
17

Weak May Retail Sales Disappointing

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– Retail Traffic

May’s retail sales numbers might disappoint those who hoped the current downturn is nearing an end, industry experts say. Although the U.S. Department of Commerce reported a seasonally adjusted 0.5 percent preliminary increase in total retail sales for the past month, to $340 billion from approximately $338 billion in April, the big picture reveals some concerns. The sales figures are down almost 10 percent year over year and retailers’ same-store sales figures were also off considerably from last year’s levels. The fact that Wal-Mart, the biggest retailer in the country, stopped reporting same-store sales results in May likely skewed the figures lower than they would have been otherwise.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://retailtrafficmag.com/news/weak-may-numbers-green-shoots-0616/index.html
Categories : National News
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Jun
17

Columbia Ranks Among "Second Strongest 20 Metropolitan Areas"

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The Brookings Institution released their recent MetroMonitor report.

Compared to a national employment decline of 3.7 percent from the fourth quarter of 2007 through the first quarter of 2009, metro areas with specializations in education and health care saw employment drop by an average of only 2.0 percent, and those specialized in government/military employment saw average job losses of 1.3 percent. This has helped Columbia, which ranks in the second strongest metropolitan areas in the country. Greenville and Charleston rank in the middle 20 metro areas.
Michael Dodds
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Jun
17

College Signs 25,000 Square Foot Lease in Greenville CBD

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– GSA Business

Another school catering to the nontraditional college students has opened in Greenville, this time in downtown.

Brown Mackie College has opened an office and will occupy 25,000 square feet at 75 Beattie Place in Greenville. Classes will begin in October following the renovation of the basement and the first two floors at Two Liberty Square.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.gsabusiness.com/news/28158-greenville-attracts-college-downtown
Categories : Greenville
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Jun
17

Integra Realty Resources Profiled in CPN Gold Book

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The Gold Book, published by Commercial Property News, includes a profile on Integra Realty Resources. Check it out if you get a chance…..

Categories : INTEGRA NEWS
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Jun
16

Good News: S.C. Moves Up Five Spots in Economy Index

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– Charleston Regional Business Journal

The 2008 State New Economy Index reveals that, between 2007 and 2008, South Carolina has increased its overall national rank from No. 39 to No. 34.

“Recognizing that improvement of any single indicator is not an elixir of improved economic growth, this latest upturn, which is a very encouraging sign, is a culmination of a lot of hard work and collaboration,” said Jim Fields, executive director of the Palmetto Institute.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://charlestonbusiness.com/news/28129-s-c-moves-up-five-spots-to-no-34-in-kauffman-rsquo-s-economy-index
Categories : South Carolina News
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Jun
16

Charleston Hotels Were 71.2% Full In May, Down 11% from Last Year

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– scbiznews.com

Hotel occupancy in Charleston County averaged 71.2% in May, down 11.7% from the same month in 2008, according to a monthly report from the College of Charleston’s Office of Tourism Analysis.

Last year, hotels were 80.6% full during May, on average. Total demand for hotel rooms dropped 9.8% from 373,990 room nights sold in May 2008.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://charlestonbusiness.com/news/28132-area-rsquo-s-hotels-were-71-2-full-in-may-still-down-from-last-year
Categories : Charleston
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Jun
15

Citadel Mall Attracting New Tenants

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– Post and Courier

Citadel Mall will soon see fewer shuttered storefronts, a signal that economic conditions may be improving for the shopping center.

In addition, Dillard’s plans to add an upscale product line, targeting high-end customers who like shops such as Saks Fifth Avenue and Neiman Marcus.

“We are still going to continue to carry what we have but expand our current selection for better and more designer goods,” Dillard’s manager Steve Burcham said.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thestate.com/749/story/827135.html
Categories : Charleston
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Jun
15

Economist: Manufacturing Is Still Key to SC

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– SC Radio Network

One of the state’s leading economists says South Carolina is not stabilizing its manufacturing sector, which could hurt the state’s economy in the long term.

At its monthly meeting, the state’s Board of Economic Advisors called in economist Don Schunk to hep them to discern what lies ahead for the state in the next year or so. The task at hand was to project state government revenue and how it might affect the budget.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.southcarolinaradionetwork.com/2009/06/12/economist-manufacturing-is-still-key-to-sc/
Categories : South Carolina News
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Jun
15

The Gates at Williams-Brice: Discount prices attract buyers

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– The State

Buyers got in line at 9 a.m. Saturday to get more than 30 percent off a condo at The Gates at Williams-Brice. The one-day closeout sale was set to start at noon.

Until this week, the complex had not made any sales for the past eight months as the real estate market tanked. But the turnout Saturday was a positive sign for the local market, industry experts said.

The two-bedroom condos, which had been listed at $230,000, were priced at $158,000. In the past week, agents have written 21 contracts for 28 vacant units at the complex on Shop Road. That included 10 that were written Saturday.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.thestate.com/local/story/826465.html?RSS=local

Categories : Columbia
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