Archive for November, 2009

Nov
30

Vacancy Rates Mixed At Charleston, SC Area Shopping Malls

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– Charleston Regional Business Journal

That familiar holiday landscape, the shopping mall, might look a bit sparser nationwide this season after more than a year of consumer caution has taken its toll on retail stores.

Vacancy rates at malls across the nation averaged 8.6% at the end of the third quarter, up from 6.6% in the same quarter last year and 5.5% in 2007, according to Reis Inc., a national real estate research firm. The vacancy rate in the third quarter was the highest in the company’s 10 years of data.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.charlestonbusiness.com/news/31881-vacancy-rates-mixed-at-charleston-area-malls
Categories : Charleston
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Nov
30

Application to Build Spartanburg’s Victor Mill Housing Project Delayed Until Spring

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– Greenville News

Jane Hall, the Spartanburg County councilwoman who kick-started cleanup of the former Victor Mill property that had been rubble-strewn and rat-infested for years, is frustrated that an application for $4.75 million in redevelopment on part of the property can’t be made before spring.

“There was some concern about going ahead and developing the 3-acre parking lot site,” she said.

For that reason, a November deadline to apply to build 17 federal Housing and Urban Development-funded duplexes for low-to-moderate income senior citizens was missed, and an application can’t be made until the spring. “I’m not real happy with that,” she said.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.greenvilleonline.com/article/20091127/NEWS/911270307/-1/PCN/Application-to-build-Victor-Mill-housing-project-delayed-until-spring
Categories : Greenville
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Nov
30

Opportunistic Retailers Taking Advantage of Falling Rents (Video)

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Categories : National News
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Nov
30

Bank Failure Cuts Charleston, SC Redevelopment Funding

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– The Post and Courier

The company redeveloping one of Charleston’s most notable buildings is feeling the crunch of the banking crisis.

Construction at the Cigar Factory, the historic brick landmark at Columbus and East Bay streets, has stopped because its owner, The Simpson Organization of Atlanta, lost its construction funding and can’t find another source.

The development group, which bought the building in 2007 for about $20 million, is executing a major overhaul of the former cigar and cotton factory, turning its interior into a mix of shops, 66 luxury condominiums and a white-tablecloth restaurant.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.postandcourier.com/news/2009/nov/28/project-on-hold/
Categories : Charleston
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Nov
24

Pontiac Silverdome Sells for 10 Cents on the 1975 Dollar

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– CNNmoney.com

An unidentified Canadian real estate company was the winning bidder for the Silverdome, snatching it up for a mere fraction of its original value.

A Toronto-based family-owned company bid $583,000 for the under-used stadium on Monday, which is currently owned by the City of Pontiac, Mich., according to auctioneer Williams & Williams.
The company plans to refurbish the Silverdome into a stadium for men’s Major League Soccer and women’s professional soccer teams, said the auctioneer. While the stadium was the former home of the National Football League’s Detroit Lions, it also played host to some of the World Cup games in 1994. Brazil’s victory over Italy occurred elsewhere, at the Rose Bowl in Pasadena, Calif.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://money.cnn.com/2009/11/17/news/economy/silverdome_buyer/index.htm
Categories : National News
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Nov
23

Gildan Buys 580,000 Sf Distribution Center in Charleston, SC for $20 Million

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– The Post and Courier

A Canadian apparel company has purchased a cavernous vacant warehouse in Berkeley County in a deal that could provide a jolt of new business for the Port of Charleston.

Gildan Activewear Inc. of Montreal this week emerged as the successful and only bidder for the former Mikasa Inc. distribution center on Clements Ferry Road.

The clothing maker and importer paid $20 million for the industrial building, which is on an 81-acre site

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.postandcourier.com/news/2009/nov/21/gildan-buys-mikasa-building/
Categories : Charleston
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Nov
23

Old Retail Center Site Viewed As Key to Reviving Rock Hill, SC South Side

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– The Herald

Rock Hill officials are nearing a decision on buying the blighted Edison Mall from an owner unable to rescue it from decline.

A contract has been drawn up and could go before the City Council by January, City Manager Carey Smith said. The city would demolish the rundown mall building and recruit private investors to redevelop the 3.5-acre site.

Local real estate agent Mary Hyatt and two partners bought the shopping center in 1999 with hopes of turning it into a draw for neighborhoods along Saluda Street.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.heraldonline.com/109/story/1754627.html
Categories : Rock Hill
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Nov
23

S.C. Home Sales Spike 18.1% Last Month

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– Greenville News

S.C. home sales spiked 18.1 percent last month as a crush of first-time buyers hurried to make purchases before a federal tax credit was about to expire, real estate officials reported Friday.

And median sale prices posted their first statewide gains of 2009, growing 2.6 percent from a year ago to $152,400, according to data released by the S.C. Realtors trade group.

But experts question whether the sales gain can be sustained without the boost provided by Uncle Sam.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.greenvilleonline.com/article/20091121/BUSINESS06/91120016/1003/BUSINESS/Home-sales-spike-across-the-state

Categories : South Carolina News
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Nov
18

MidlandsTrends.com Report Shows 3Q Sales for Columbia, SC Region

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MidlandsTrends.com report shows strong Q3 2009 land and single-family sales for Richland and Lexington County. Commercial properties are relatively flat with total transactions in the mid-20’s per month. Aggregate value of all real estate transactions within the counties topped out at $208.6M in July, with a year-to-date aggregate value of $1.239B. The online database has tracked 8,600 real estate transactions so far for 2009.

LINK TO WEBSITE HERE:
http://www.midlandstrends.com/
Categories : Columbia
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Nov
18

Commercial Property Optimism Said To Be Boosting Banks (Video)

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Categories : National News
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Nov
17

Greenville, SC Home Sales Remained Stable in October

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– GSA Business

Greenville home sales continued a plateau in October that has been evident in real estate data for several months, with monthly sales settling around 600 units per month.

According to the latest data from the Greater Greenville Association of Realtors, there were 596 units sold in October, compared with 597 units in September and 607 units in August.

The median price of a home sold in October was $137,000, down from $139,900 in September and $145,800 in August.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.gsabusiness.com/news/31721-greenville-home-sales-remained-stable-in-october
Categories : Greenville
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Nov
17

Plans for 1,427 Acre Development near Kiawah Island Moving through Approval Process

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– Charleston Regional Business Journal

The Beach Co.’s plans for a 1,427-acre resort development just across the river from Kiawah Island on Johns Island are moving through Charleston County’s approval process.

The first of two public hearings on the project, called Kiawah River Plantation, is set for today at 5:30 p.m.

Plans for Kiawah River Plantation call for 1,285 homes, including single-family homes, town homes, apartments and condominiums.

Kevin O’Neill, vice president of development for The Beach Co., said it’s too early to talk about price ranges, but most of the planned housing units are envisioned as resort, vacation or retirement homes. Between 10% and 20% would be primary residences, he said. Housing would include 117 affordable units.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.charlestonbusiness.com/news/31734-kiawah-river-plantation-moving-through-county-approval-process
Categories : Charleston
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Nov
17

FDIC Sells Most Real Estate Since 1994

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– Bloomberg.com

The Federal Deposit Insurance Corp. has already sold the most real estate this year since 1994 as the regulator takes over properties held by failed lenders.

The FDIC raised $727 million from building and land sales in the first nine months of 2009 compared with $1.16 billion in the whole of 1994, according to FDIC data. The Washington-based agency sold 1,706 properties, according to its Web site, the highest number since 2,045 in 1996.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://bloomberg.com/apps/news?pid=20601206&sid=aIcNcx3Hm80o
Categories : National News
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Nov
17

Charleston, SC Federal Building to Be Converted to a Hotel?

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– The Post and Courier

The long-vacant L. Mendel Rivers Federal Building overlooking Marion Square in downtown Charleston could be one step closer to a makeover.

Dewberry Capital Corp., run by Atlanta developer and part-time Charleston resident John Dewberry, is seeking approval from the city’s planning board to include the property in what’s called the accommodations overlay district, which would allow a hotel to operate there.

Planning division director Christopher Morgan said the property is zoned for commercial, office and residential uses but not for lodging.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.postandcourier.com/news/2009/nov/16/federal-building-be-hotel/
Categories : Charleston
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Nov
16

1,600 Acre Industrial Tract in Charleston, SC Sold for $10 Million

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– The Post and Courier

A Pennsylvania investment group has purchased the remainder of Berkeley County’s oldest large-scale industrial site in a deal that local officials hope will lure more manufacturing businesses to the property.

Cooper River Partners LLC purchased the roughly 1,600 acres known as Bushy Park from Lanxess Corp., which operates a rubber manufacturing plant on the site.

The sale price was $10 million, according to county land records.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.postandcourier.com/news/2009/nov/14/last-bushy-park-acreage-sold/
Categories : Charleston
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