Archive for March, 2010

Mar
31

Humor: The Party’s Over-Ture – a Sampler of Versusplus.com Econoparodies

Posted by: | Comments Comments Off on Humor: The Party’s Over-Ture – a Sampler of Versusplus.com Econoparodies

Categories : Humor
Comments Comments Off on Humor: The Party’s Over-Ture – a Sampler of Versusplus.com Econoparodies
Mar
31

Charleston Apartment Vacancy Rate Back Up To 13.7%

Posted by: | Comments Comments Off on Charleston Apartment Vacancy Rate Back Up To 13.7%
– Charleston Regional Business Journal

Apartment vacancy in Charleston was at 13.7% in February, according to a new report from Charlotte-based research firm Real Data.

The rate is lower than the 15.3% vacancy reported one year ago, which was the highest in the firm’s data for the last 10 years. But the latest vacancy rate, released this month, is up from 11.1% in August.

Real Data publishes semi-annual market reports for Charleston, capturing trends in August and February each year.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.charlestonbusiness.com/news/33520-charleston-apartment-vacancy-rate-back-up-to-13-7
Categories : Charleston
Comments Comments Off on Charleston Apartment Vacancy Rate Back Up To 13.7%
Mar
29

New Federal Courthouse to Rise in Greenville, SC in 2013

Posted by: | Comments Comments Off on New Federal Courthouse to Rise in Greenville, SC in 2013

– GSA Daily Staff Report

The General Services Administration is moving forward with plans to acquire a site for a new federal courthouse in downtown Greenville. The building will be located at the intersection of East North, North Irvine, East Coffee and North Spring streets.

Relocating the C.F. Haynsworth Federal Building in Greenville has been under consideration since 2005. In addition to the chosen location, the former Greenville Memorial Auditorium site and a location bordered by Westfield and West Broad streets and Reedy View Drive were proposed sites.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.gsabusiness.com/news/33505-new-federal-courthouse-to-rise-in-2013

Categories : Greenville
Comments Comments Off on New Federal Courthouse to Rise in Greenville, SC in 2013
Mar
29

Not Pretty: Chart Showing SC’s Employment During Recessions

Posted by: | Comments Comments Off on Not Pretty: Chart Showing SC’s Employment During Recessions

The 2007-2009 recession is widely thought to have ended sometime last summer. How bad was this recession, and how quickly is the economy recovering? How does this recession and recovery compare to previous cycles?

The official month (quarter) marking the end of this recession, and the start of the recovery, has yet to be determined (see discussion below). Until the official date is announced, July 2009 (the third quarter) is used as an estimate.

Categories : South Carolina News
Comments Comments Off on Not Pretty: Chart Showing SC’s Employment During Recessions
Mar
29

South Carolina Point of Sale Update

Posted by: | Comments Comments Off on South Carolina Point of Sale Update

After failing to give H.3272 (Cooper) third reading in February, the legislation remains in the Senate Finance Committee, while retaining its place on the Senate Calendar. The Finance Committee has not met to consider H.3272. With the state budget looming, it is unlikely that the Committee will take up the bill until later this spring. Over the past few weeks, South Carolina REALTORS staff has been meeting with the 13 Senators who opposed third reading of H.3272 and seeking explanation for their opposition to addressing this crisis. The South Carolina REALTORS remain optimistic that point of sale assessment will be addressed this year.

Categories : South Carolina News
Comments Comments Off on South Carolina Point of Sale Update
Mar
24

Net Lease Deals Become a Bright Spot in a Slow Sales Market

Posted by: | Comments Comments Off on Net Lease Deals Become a Bright Spot in a Slow Sales Market
– Retail Traffic

Stan Johnson Co. sold the above CVS, in Texas, last month, for approximately $2.26 million. Average transaction prices have been trending up recently, from $1 million and $1.5 million deals to $4 million and $5 million.

While total investment sales activity in the retail real estate sector remains slow, single-tenant net lease deals are picking up steam, according to industry insiders.

The lower price tags associated with single-tenant properties have translated into greater demand from investors. Meanwhile, the easier risk assessments inherent in deals involving single tenants with long-term leases make net lease acquisitions seem like a safer bet to lenders.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://retailtrafficmag.com/news/net_lease_bright_spot_03232010/
Categories : National News
Comments Comments Off on Net Lease Deals Become a Bright Spot in a Slow Sales Market
Mar
24

Columbia Home Sales Down 2.5 Percent in February from Last Year

Posted by: | Comments Comments Off on Columbia Home Sales Down 2.5 Percent in February from Last Year
– The State

South Carolina’s coastal real estate market is gaining back some of the ground it lost during a massive downturn that started in 2007.

But Columbia’s market – where the setback was much less severe than the coast – is still off from 2009 and lingering around 2002 levels, according to a new report from the S.C. Realtors trade group.

“You look at a law firm, a doctor’s office, a publicly traded company, they lose 40 percent of their business, they’re gone,” said longtime Columbia real estate agent Jay Graham. “That’s how far we’ve fallen (from the peak). Every deal I have, I just look up at the sky and say, ‘Thank you.’ “

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.thestate.com/2010/03/24/1213643/columbia-home-sales-still-off.html
Categories : Columbia
Comments Comments Off on Columbia Home Sales Down 2.5 Percent in February from Last Year
Mar
24

Man Sues Assessors Office, Others for Unfairly Assessing Real Estate

Posted by: | Comments Comments Off on Man Sues Assessors Office, Others for Unfairly Assessing Real Estate
– wvrecord.com

A man is suing the Jefferson County Commission, after he claims they unfairly assessed property he owns

Angela Banks, a Jefferson County assessor, and Christopher G. Morris, a state tax commissioner, were also named in the suit.

Donald J. Orser is engaged in the consolidation of individual real estate lots to form viable “building sites” which can be approved by the Health Department for the installation of onsite well and septic systems and claims he must consolidate two, three, four or more lots which are contiguous to obtain approval by the Health Department for a single building site, according to a complaint filed March 1 in Jefferson Circuit Court.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.wvrecord.com/news/225353-man-sues-jefferson-county-assessors-office-others-for-unfairly-assessing-real-estate
Comments Comments Off on Man Sues Assessors Office, Others for Unfairly Assessing Real Estate
Mar
23

Be Sure to Join Us at the Interface Carolinas Conference

Posted by: | Comments Comments Off on Be Sure to Join Us at the Interface Carolinas Conference

I wanted to remind you to register for the Interface Carolinas conference in Charlotte, NC on April 29th. France Publications has put together an impressive event, and I am proud to be participating as a panelist. Hopefully you can make it!

CLICK HERE TO LEARN MORE

Mike Dodds

Comments Comments Off on Be Sure to Join Us at the Interface Carolinas Conference
– Businessweek

U.S. commercial property values rose for a third month in January as economic grew, according to Moody’s Investors Service.

The Moody’s/REAL Commercial Property Price Index climbed 1 percent from December, Moody’s said today in a report. Values are 40 percent lower than the peak in October 2007. The index fell 24 percent from a year earlier.

A growing economy may help boost commercial real estate values after rising joblessness cut demand last year for apartments, offices, retail space and distribution centers. U.S. gross domestic product expanded at a 5.9 percent annual rate in the fourth quarter, according to the Commerce Department.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.businessweek.com/news/2010-03-22/u-s-property-index-rises-for-third-straight-month-update1-.html
Categories : National News
Comments (1)
– GSA Business

The Cascades, a retirement community built to accommodate 450 residents in Greenville’s Verdae section, has been sold to Senior Living Communities of Charlotte, N.C.

The Cascades Verdae comprises a 40-acre master-planned community that provides a continuum of care, from independent living to skilled nursing and memory care.

Terms of the sale were not disclosed.

Ken Bolt, president of Banyan Senior Living and the developer of The Cascades Verdae, said this move would be the first step in a plan to strategically reposition Banyan and ultimately for him to retire.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.scbizmag.com/content/view/136912/1/
Categories : Greenville
Comments (1)
Mar
18

Korpacz – 1Q 2010 Cap Rate Trends

Posted by: | Comments Comments Off on Korpacz – 1Q 2010 Cap Rate Trends

From the PricewaterhouseCoopers Korpacz Real Estate Investor Survey:

Cap rate declines in 6 categories, with apartments leading the way………..

Sorry…the chart was removed at the Request of PricewaterhouseCoopers

You can get you own copy by clicking here

Categories : National News
Comments Comments Off on Korpacz – 1Q 2010 Cap Rate Trends
Mar
18

Anchor Retail Sales Per Square Foot Are Important!

Posted by: | Comments Comments Off on Anchor Retail Sales Per Square Foot Are Important!

I received an e-mail from a CCIM searching for grocery anchored retail centers on behalf of her client. The parameters that she stated were:

– 50K+ sq ft – grocery or national credit tenant centers
– WIll purchase at 8+ on actual NOI
– Grocery tenant to have $295+ sales/sf
– Assumable debt – a plus!
– Want mix of national credit tenants and locals
– Locations: Prefer Top 100 MSA’s


I am glad to see the anchor tenant’s sales included in the search parameters more and more. Integra Realty Resources – SC has researched cap rates and the correlation with anchor retail sales. You would be surprised how many appraisers fail to properly analyze the retail sales of the anchor tenants during the appraisal process…….

Comments Comments Off on Anchor Retail Sales Per Square Foot Are Important!
Mar
17

SIOR Spring Chapter Meeting to be Held in Columbia, South Carolina

Posted by: | Comments Comments Off on SIOR Spring Chapter Meeting to be Held in Columbia, South Carolina

For the first time, the Carolinas Chapter of the Society of Office and Industrial Realtors (SIOR) will hold their Spring Chapter Meeting in Columbia, South Carolina. The event will take place on March 18-19 and will be held at the Hilton Columbia Center in the Vista. Attendees will include top real estate professionals from all of the major markets in North and South Carolina. “We are excited to be in Columbia this year and have the opportunity to showcase the Vista and other attractions that Columbia has to offer,” said C. Marshall Kibler, CCIM, SIOR, the 2010 President of the Carolinas Chapter and President of Grubb & Ellis Wilson Kibler in Columbia.
The Gold Sponsors for the event include Red Rock Development and Nexsen Pruet Law Firm. The Silver Sponsors are the Central Carolina Realtors Association, Hood Construction, Holder Properties, Gaston County Economic Development Commission, Co-Star and Liberty Property Trust.
Categories : Columbia
Comments Comments Off on SIOR Spring Chapter Meeting to be Held in Columbia, South Carolina
Mar
16

The Inexact Science of Square Footage

Posted by: | Comments Comments Off on The Inexact Science of Square Footage

– The Real Deal

During the boom, New Yorkers increasingly relied on price-per-square-foot as a way to compare rapidly rising apartment values.

The metric is even more popular in the downturn, as discount-crazed buyers look for good deals.

But price-per-square-foot isn’t as reliable a measure as they think. Unbeknownst to many shoppers, it’s extremely difficult to determine the true square footage of a Manhattan property, experts say.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.inman.com/news/2010/03/5/the-inexact-science-square-footage

Categories : National News
Comments Comments Off on The Inexact Science of Square Footage