Archive for November, 2009

Nov
16

Zisler: Commercial Property Prices May Fall 20% More (Video)

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Categories : National News
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Nov
16

South Carolina Lawmakers Consider New Property Tax Laws

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– The Post and Courier

South Carolina’s property tax revisions of 2006 were set up to benefit homeowners and those who own the same property for many years, but those same changes resulted in big tax increases for anyone who bought property starting in 2007.

Now, driven by real estate professionals who say those tax laws are costing them sales, state legislators are poised to change the property tax rules once again – in ways that would shift some taxes back to current home and business owners, and constrain the budgets of local schools and governments.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thestate.com/local/story/1030041.html
Categories : South Carolina News
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Nov
16

Foreclosures Down More Than 10% Across South Carolina

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– GSA Business

Across South Carolina, foreclosures have decreased by 10.58% in the past month, according to data released by a national real estate tracking firm.

RealtyTrac, which issues monthly reports on national, state and local foreclosure numbers, reported that foreclosures in South Carolina dropped from 3,231 in September to 2,889 in October. That’s nearly a 13-percentage-point swing compared to August, when foreclosures were up in that month by 1.94%.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.gsabusiness.com/news/31686-foreclosures-down-more-than-10-across-s-c
Categories : South Carolina News
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Nov
16

Two Redevelopment Proposals Submitted For Old Greer Hospital Site

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– Greenville News

Greer has received two proposals — both of them health-care-related — for reuse of the seven-acre former Allen Bennett Memorial Hospital campus on Wade Hampton Boulevard, according to city officials.

“Obviously the building is set up probably where they could hit the ground running, which is a good thing,” said Wryley Bettis, chairman of the Greer Development Corp. board. He hasn’t seen the proposals and expects a city steering committee to meet soon to go over them.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.greenvilleonline.com/article/20091115/NEWS/911150319/1004/NEWS01/Two-proposals-submitted-for-old-Greer-hospital-site
Categories : Greer
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Nov
13

Healthcare Trust of America to buy 108,500 sf MOB in Spartanburg, SC for $16.2 million

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– GSA Business

Healthcare Trust of America Inc., a self-managed, non-traded healthcare REIT, said it agreed to buy a 108,500-square-foot medical office building in Spartanburg for $16.2 million.

“The acquisition expands HTA’s existing presence in the South Carolina marketplace with a strategically located on-campus property that has significant tenant occupancy,” the company said in its announcement.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.gsabusiness.com/news/31687-healthcare-trust-to-buy-mary-black-medical-office-building
Categories : Spartanburg
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Nov
13

Richard Lefrak: CRE’s Tough Times Are Just Beginning (CNBC Video)

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Categories : National News
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Nov
13

Do You Know Someone That Needs SC Real Estate News?

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Help us expand the subscriber list to SC Real Estate News by clicking on the “E-Mail Envelope” link below this post and send to your colleagues, clients or friends that are in the real estate business.

They can then go to this link http://feedburner.google.com/fb/a/mailverify?uri=ScRealEstateNews to sign up to receive a daily e-mail with summaries of that day’s articles/posts.

If they would rather follow SC Real Estate News via Twitter, then go here http://twitter.com/SCREnews

Thank you for helping us grow the website.

Michael Dodds, MAI, CCIM, MRICS
Categories : South Carolina News
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Nov
13

Residential Real Estate Sales Up 31% from 2008 in Charleston, SC Area

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– SCbizmag.com

Sales figures from the Charleston Trident Association of Realtors show a 31% increase in closings for October when compared with 2008, but month-to-month numbers are less dramatic in two Lowcountry counties.

Twenty fewer homes were sold in Charleston County from September to October, data show, for a 5.57% decrease in month-to-month sales. The median sales price dropped by $9,000 between September and October.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.scbizmag.com/content/view/136012/1/
Categories : Charleston
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– GSA Daily

Timken plans to invest $3 million and hire 100 people at a new distribution facility at the Spartan Green Business Park in Duncan.

In addition, Timken will transfer to the new facility 50 employees from its existing distribution center in Spartanburg. The company plans to occupy the 300,000-square-foot space in December.

“Having a larger facility in the area provides significant customer service efficiencies,” said Chris Coughlin, president of Timken’s process industries division. “With much of our supply chain based in the Southeast, consolidating our distribution in the region will help us reduce movements between locations to serve customers more quickly. That also will make our operation leaner and greener.”

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.gsabusiness.com/news/31676-timken-to-create-distribution-center-in-duncan
Categories : Spartanburg
Comments (1)
Nov
12

Hotel Planned For Long-Vacant Marion Square Landmark in Charleston, SC

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– Charleston City Paper

Atlanta developer John Dewberry is moving ahead with preliminary plans for a 120-room hotel to fill the long-vacant Mendel Rivers Federal Building near Marion Square.

Next week, the City of Charleston’s Planning Commission will weigh the first of a handful of zoning and design approvals necessary before redevelopment begins.

Dewberry purchased the more-than 2-acre site for $15 million in early 2008, including the seven-story building, constructed more than 40 years ago, as well as a large parking lot behind it.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.charlestoncitypaper.com/charleston/hotel-planned-for-federal-building/Content?oid=1534007
Categories : Charleston
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Nov
11

Charleston, SC: October Hotel Occupancy Fell 4%, Following Last Year’s 11% Decline

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– Charleston Regional Business Journal

Hotel occupancy in Charleston County averaged 67% during October. That was down 4% from last October’s rate, according to a monthly report from the College of Charleston’s Office of Tourism Analysis.

Hotel occupancy in October 2008 averaged 70%, a significant decline from the October 2007 rate of 78%.

Charleston County hotels sold a total of 315,336 room nights last month, down nearly 7% from the prior year. Room rates averaged $118.39, down 6% from last year.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.charlestonbusiness.com/news/31628-october-hotel-occupancy-fell-4-following-last-year-rsquo-s-11-decline
Categories : Charleston
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Nov
11

465,000 Square Foot Home Depot Distribution Facility in Columbia, SC Sold

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– Columbia Regional Business Report

The USAA Real Estate Co. affiliate that owned the new Home Depot distribution facility in Lexington has sold the property to American Realty Capital. New York-based Broad Street Advisors brokered the deal. The sale price was not released.

Home Depot will still occupy the space.

The 465,600-square-foot facility was being constructed at a cost of $25 million. The project is to be completed later this month, and the Home Depot is signed to a long-term lease.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.columbiabusinessreport.com/news/31616-new-home-depot-distribution-facility-sold?rss=0
Categories : Columbia
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Nov
11

Charleston, SC Area Home Sales Surge 31%

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– The Post and Courier

Charleston area home sales surged 31 percent to 721 transactions last month as buyers moved to take advantage of a temporary $8,000 federal tax credit that was recently extended.

Last October, a total of 549 homes sold, according to the Charleston Trident Association of Realtors. The 31 percent increase ranks as the largest year-over-year increase in sales since the local real estate market began bottoming out several years ago. But last month’s sales figure is still dwarfed by the number of homes for sale in the region, which stood at 10,631 as of Tuesday.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thestate.com/749/story/1022743.html?storylink=SC%20Business%20Report%20PM%20Edition

Categories : Charleston
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Nov
09

2009 College HPCI Ranks Columbia, SC 31st Most Affordable College City

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Every fall, college football fans feel nostalgic for the tradition, lifestyle and spirit of their college towns as they cheer on their favorite teams. This year’s Coldwell Banker® College Home Price Comparison Index (HPCI) reveals that these school-centric areas also sport very affordable homes, in addition to the culture and economic stability associated with higher education institutions – making them great areas to purchase real estate.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.coldwellbanker.com/servlet/News?action=viewNewsItem&contentId=14534348&customerType=News
Categories : Columbia
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Nov
09

CRE Prices Were Up 4.4% in the Third Quarter, According to MIT Index

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– investmentnews.com

Believe it or not, the commercial-real-estate market could be close to a bottom.

If so, that signals relief to banks and other financial institutions that are struggling with troubled commercial-property loans and gives a boost to frozen commercial-credit markets — as well as the economy overall.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091108/REG/311089963
Categories : National News
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