Archive for October, 2009

Oct
30

Friday Recession Humor

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Categories : Humor
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Oct
29

Boeing Plant Announcement Bigger Than BMW?

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Yesterday’s announcement that Boeing has chosen its North Charleston facility as the location for a second final assembly site for the 787 Dreamliner program is obviously huge. The company could break ground as soon as next month, with the first 787 slated to leave the factory in the first quarter of 2012. Boeing’s decision came shortly after South Carolina legislators approved an incentive package that will allow the state to spend as much as $170 million on economic benefit bonds for a single project. Will it be worth it to the state? You bet.

BMW Manufacturing Co. has pumped more than $8.8 billion into the South Carolina’s economy since opening their plant in Greer, SC in the early 1990’s. That plant employs 5,000 and was secured with a $130 million package at the time. For each job created at the company’s Greer facility, 4.3 jobs are created throughout the state, according to a September 2008 study by USC’s Moore School of Business. Currently, BMW is in the middle of a $750 expansion. Integra Realty Resources has completed appraisals on many of the facilities of BMW suppliers spread out through the upstate. We’ve seen the transformation of Greer, SC into a competitive industrial location over the years. It will be fun to watch the ripple effect in the lowcountry. Congratulations to those that made this happen.

Michael Dodds, MAI, CCIM, MRICS

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Oct
28

National Chains Are Closing Plenty of Stores but Some Signs Point to a Turnaround

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– Forbes

The recession has hit retailers hard. Big box stores such as Circuit City and Linens ‘N Things went bankrupt. Small businesses have laid off workers. Among national retailers, store openings are falling across the board while firms plan to shutter a hefty number of storefronts.

While shopkeepers remain cautious, their landlords say business may be picking up. Rents have recently stopped falling and tenants have gotten more optimistic in the last three months, reports analyst Rich Moore of RBC Capital Markets. Some chains may sense opportunity amid the downturn: vacant spots in top shopping districts and malls and a chance to seize customers from rivals. A handful of businesses are still growing rapidly.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.forbes.com/2009/10/27/retail-store-closings-markets-equities-reits.html
Categories : National News
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Oct
28

Anderson County Builds List of Large Properties to Enhance Economic Development Efforts

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– Anderson Independent-Mail News

A lack of information about available property for industry in Anderson County has cost the county significant economic development opportunities, according to at least one county council member.

Council member Cindy Wilson and Council Chairman Eddie Moore helped organize an exposition with the goal of expanding the county and state listings of such sites. Real estate agents, developers and economic development officials for the county took part in that event Tuesday at the Civic Center of Anderson.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.independentmail.com/news/2009/oct/27/anderson-county-tries-build-listing-large-properti/

Categories : Anderson
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Oct
27

Businessweek Ranking Touts Stable Economy – Columbia Ranked 14th Strongest Metro

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– The State

BusinessWeek has listed Columbia as the 14th strongest metropolitan economy in the country.

Columbia ranked between Washington, D.C., and Pittsburgh in a list of 40 dominated by southern state capitals including Austin, Texas, Oklahoma City, Little Rock, Ark., Baton Rouge, La., and Jackson, Miss.

Leading the list was San Antonio, Texas.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thestate.com/local/story/1000630.html
Categories : Columbia
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Oct
27

Bright Spots in Commercial Real Estate (FoxBusiness Video)

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Categories : National News
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Oct
27

Empty Store Fronts in Downtown Greenville Are Getting Their Fill of New Businesses

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– Greenville News

Greenville Gemstone Mining, owned by Matt and Michelle Banz of Chimney Rock, N.C., opened recently at 205 N. Main St.

Not far away, the former K-Wig site is being transformed into a Kozani Greek Italian restaurant and On the Roxx at West End, a restaurant and bar, is in the works for 734 South Main St.

The former Paris Café & Bakery is now The Green Room, an upscale breakfast, lunch, and dinner venue. Space at 631 S. Main, once occupied by the Latitude restaurant, is the new Halfway to Habana Cigar Club and Smoke Lounge.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.greenvilleonline.com/article/20091027/BUSINESS/910270315/1068/YOURUPSTATE01/Downtown-Greenville-stores-getting-new-lease-on-life
Categories : Greenville
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Oct
26

CNBC Video: Bank Closings Hit 100 for the Year

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Categories : National News
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Oct
26

Jetline Leases 150,000-Square-Foot Warehouse In Gaffney, SC

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Jetline has leased a 150,000-square-foot warehouse from Forsite Development in Gaffney, SC. Jetline is moving to the new property, located at 202 Hyatt St., from its old base in Mt. Vernon, N.Y. As part of the move, the company will add 247 jobs and invest $3.5 million in the facility.

Categories : Gaffney
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Oct
26

Greenville, SC: Grubb & Ellis Expects Weakness in Industrial Property in Q4

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– GSA Business

Vacancies in the Greenville-Spartanburg industrial real estate market were reduced four-tenths of one percentage point in the third quarter, suggesting the market is starting to rebound.

But Grubb & EllisThe Furman Co., in its forecast for the fourth quarter, warned that the third-quarter strength could belie continuing weakness in industrial real estate.

In the fourth quarter, Grubb & Ellis forecasters expect the vacancy rate to climb to 11% from the current 10.1%

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.gsabusiness.com/news/31379-grubb-amp-ellis-expect-weakness-in-industrial-property-in-q4
Categories : Greenville
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Oct
26

SCANA to Start Cleanup of Former Bus Barn Property in Columbia

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– The State

SCANA Corp. next month will start cleanup of one of the most prized tracts of developable land in Columbia – the old bus barn lot at Huger and Hampton streets.

Over the next four to six months, workers will haul out 55,000 to 65,000 tons of dirt and demolition debris from the 5.8-acre lot. The project is expected to cost a little more than $6 million.

Up to 20 percent of the soil is highly contaminated because the area was first developed in 1902 as an SCE&G manufactured gas plant – a time when Huger Street was a dirt road and coal gas lit city streets.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thestate.com/101/story/993754.html?storylink=omni_popular
Categories : Columbia
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Oct
26

Greer Development Corp. Pleased With Interest in Old Greer Hospital

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– Greenville News

Parties are expressing interest in buying the former Allen Bennett Memorial Hospital Campus, soon to belong to the city as a gift, but city officials are mum on who.

The city’s consultant, InSite Consulting, held pre-bid conferences and a walk-through of the seven-acre campus on Wade Hampton Boulevard that Greenville Hospital System is donating to the city.

Reno Deaton, executive director of the Greer Development Corp., said, “We did have a couple of groups for the walk-through. Personally, I am encouraged by what appears to be a level of interest in the property.”

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.greenvilleonline.com/article/20091024/NEWS/910240313/1004/NEWS01/Old-Greer-hospital-draws-potential-buyers

Categories : Greer
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Oct
23

Myrtle Beach Area Home Builders Get Back To Work

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– The Sun News

More building permits for new construction were issued last month as Grand Strand home builders report business is up for the first time in almost two years – but industry leaders differ on whether the trend will continue.

The number of building permits in the Myrtle Beach area dropped almost 50 percent in the first half of the year, when compared with the year before, but September showed increases in Horry County.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thesunnews.com/news/local/story/1129946.html
Categories : Myrtle Beach
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Oct
22

Falling Prices Hit Apartments Hard, Put Pressure on Borrowers

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– National Real Estate Investor

Commercial real estate prices have taken a dive of 32.8% from a year ago, and 40% from two years ago, a new report by Moody’s/REAL Commercial Property Price Indices shows. Most surprising is the steep plunge in prices for apartments, once considered the golden sector and the property type least damaged by recession and the nation’s credit crisis.

The special report from Moody’s Investors Service issued this week shows particular weakness in the Florida apartment market and in the San Francisco office market. Declines occurred across four major property types: multifamily, industrial, office and retail. Hotels were not included.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://nreionline.com/finance/news/falling_prices_ait_apartments_1021/
Categories : National News
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Oct
21

Commercial Real Estate Market Threatening Economic Recovery, Says Charleston Real Estate Panel

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– scbiznews.com

Without a patch-up plan, the commercial real estate market could become a sizeable pothole on the road to economic recovery.

A substantial amount of commercial notes are coming due in the next three years. With empty store fronts and climbing vacancy rates driving down property values, refinancing these notes may prove to be a bear for banks under the close watch of federal regulators. Commercial real estate market threatening economic recovery, say industry leaders

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.charlestonbusiness.com/news/31328-commercial-real-estate-market-threatening-economic-recovery-say-industry-leaders

Categories : Charleston
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