Archive for August, 2010

Aug
19

260,000 Square Foot Warehouse in Fountain Inn Sold

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SAATI Americas Corp. has purchased a vacant 260,000-square-foot warehouse from Kemet Electronics for an undisclosed amount. Located at 201 Fairview St. Ext. in Fountain Inn, the property will house SAATI’s U.S. Composites and Protection division.
The company expects to hire 80 employees in the next few years. SAATI will immediately begin renovations, which will include the installation of new production and R&D equipment as well as other building modifications.
Categories : Greenville
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Aug
19

Looking to Buy REO Property?

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Be sure to check out Suntrust’s new REO marketing site.

LINK TO SUNTRUST’S REO WEBSITE HERE

Categories : Uncategorized
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Aug
19

Mount Pleasant’s Patriots Point Could Be Central Spot to Live, Shop, Gather, Walk

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– The Post and Courier

Land planners unveiled a design scheme Tuesday that could transform the outdated and financially strained military attraction Patriots Point into a mixed-use development and the focal point for the town.

Although light on details, the presentation by George Kramer with international urban design firm AECOM repeatedly invoked the term “synergy,” that integrated sense of community decidedly missing from the warship museum and its surrounding waterfront land.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Charleston
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Aug
18

Greenville’s Main Street Office District Continues to Attract New Tenants.

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– SCbizmag.com

Windsor/Aughtry Co. signed long-term leases with Scott & Stringfellow and Aon Risk Solutions to occupy space in the new Main @ Broad development in downtown Greenville.

Scott & Stringfellow, a regional brokerage and investment banking firm, will occupy 7,230 square feet of office space on the fourth floor of the development. Aon Risk Solutions will occupy 3,213 square feet of space on the development’s second floor.

As with all Main @ Broad tenants, Scott & Stringfellow and Aon Risk Solutions will have access to other building amenities, including a third floor conference room, which is fully equipped with a state-of-the-art audio visual package of flat screen televisions, surround sound stereo, and a high definition, worldwide video conferencing system.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE
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LEARN MORE ABOUT MAIN & BROAD HERE

Categories : Greenville
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Aug
18

Retail Cap Rate Trends from RetailTrafficmag.com

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Categories : National News
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Aug
17

New Warehouses Planned Near Greenville-Spartanburg Airport

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– Greenville News

A series of 10,000-square-foot warehouses with office space inside is being planned at the corner of East Phillips Road and Twin Magnolia Drive in Greer.

Adam Jones, vice president of Jones Construction Curbing in Greer, plans to build and lease three warehouses on a 7.4-acre site he owns that sits close to the Greenville-Spartanburg International Airport.

Jones sees East Phillips Road as a prime location for future commercial real estate.

“It seems like everything’s moving that way. Pelham Road’s kind of blown up and now things are starting to move out that way, especially for commercial warehouses,” he said. “It’s easy access to the interstate.”

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Greenville
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Aug
17

S.C. Named No. 1 for "Economic Development Potential"

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Business Facilities’ magazine recently released their 2010 Rankings Report. South Carolina did exceptionally well, placing in the Top 10 of five separate categories.

South Carolina ranked No. 1 for “Economic Development Potential,” No. 4 for “Best Business Climate,” No. 3 in “Automotive Manufacturing Strength,” No. 2 in “Wind Energy Manufacturing” and No. 9 in “Alternative Energy Leaders.”

The magazine also stated that Boeing’s choice of North Charleston for its second 787 Dreamliner plant “cements South Carolina’s status as a top-tier aerospace player, providing the basis for tremendous growth potential in coming years.”
Categories : South Carolina News
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Aug
17

Plans for Jafza Training Facility in Santee Move Forward

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– The Times and Democrat

Construction of a training building near Interstate 95 is one step closer to fruition thanks to agreements between Orangeburg County and several entities.

There were no comments during a public hearing Monday on an ordinance authorizing a deed-lease agreement between the county and Jafza South Carolina, LLC. Orangeburg County Administrator Bill Clark said second reading will take during a special called council meeting, which could be held Aug. 23.

Stephen McCrae Jr., Jafza’s attorney, said the company will deed five acres to the county for the development of the structure.

“At the same time, the county will lease that land back to Jafza with the responsibility on our part to construct a facility called The Training Center,” McCrae said. “The funding for the construction will be through Tri-County Electric Cooperative. It has some funds from Rural Economic Development Land Grant and other funding.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Orangeburg, Santee
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Aug
16

Greenville Homes Sales Drop 17% in July

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– SCbizmag.com

Greenville area home sales dropped 17% in July but remain ahead of last year’s sales pace, according to new figures from the Greater Greenville Association of Realtors. Sales spiked earlier in the spring and summer as buyers took advantage of since-expired federal tax credits.

In July, 489 homes were sold, down 17% from the same month last year. Average price, however, increased from $174,729 to $177,551, while median price dropped slightly from $146,000 to $145,000.

For the year, 4,077 single-family, condominiums or townhouses were sold from Jan. 1 to July 30, up 9.3% from 3,730 during the same seven-month period in 2009. Average price is up 3.5% to $173,176, and median price is up 2.6% to $143,500.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Greenville
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Aug
16

1.09 Million-Square-Foot Manufacturing Facility in Anderson Sold

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First Quality Tissue, a New York-based maker of paper towel and bath tissue products, has purchase a 1.09 million-square-foot manufacturing facility in Anderson. The 572-acre property is located along Masters Boulevard near Anderson Regional Airport. The company plans to invest up to $1 billion in the new production facility and create 1,000 new jobs for the area by 2020. Todd Younghans of the Greenville office of Coppedge & Tison represented the seller, Shaw Industries, in the transaction. The purchase price was not disclosed.
Categories : Anderson
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Aug
16

Charleston Home Sales Reverse Trend in July, Skid By 37 Percent

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– The Post and Courier

The momentum that had been lifting local home sales in recent months came to a jarring halt in July, raising questions about the long-awaited recovery of the residential real estate market.

Newly released data from the Charleston Trident Association of Realtors showed 643 area homes sold during July, a striking drop-off from the 1,022 transactions recorded in June. The decline followed the expiration of federal tax credits for homebuyers.

Local agents say they were expecting a drop but they’re struggling to grasp how long the dip will last and how quickly the momentum generated by the temporary tax subsidies will return.
Categories : Charleston
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Aug
16

House of Former Goldman Sachs Partner Priced At $29 Million

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– The Post and Courier

A secluded Kiawah Island estate has hit the market for $29 million, which ties a mark set by a previous unsold listing for the island’s loftiest asking price.

The home is on Blue Heron Pond Road on a small stretch of wooded high ground that extends out into marshland along the Stono River. With 15,000 square feet indoors and 11.7 acres, the gray brick home is the island’s largest in square footage and acreage.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Charleston
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Aug
12

Foreclosures Climb in 75 Percent of Nation’s Metro Markets

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Three-fourths of the nation’s metropolitan markets saw foreclosure filings climb during the first half of the year, according to a report issued July 29 by RealtyTrac, an online company that tracks foreclosed homes. Las Vegas was the worst hit city, with one filing for every 15 households in its metro area.

The booming numbers of foreclosed homes are no longer primarily being blamed on shady subprime mortgages, but instead on many cities’ high unemployment rates. As Rick Sharga, spokesman for RealtyTrac told CNNMoney, the economy is currently to blame.

“Look at a place like Salt Lake City,” Sharga said. “The foreclosure rise there appears to be entirely related to the economy,” not because people can’t afford their subprime loans.

After Las Vegas, Cape Coral/Fort Myers, Fla., had the second highest rate of foreclosure, with one for every 20 households, according to RealtyTrac. Modesto and Merced, both in California, were tied for third worst in foreclosures, with one filing for every 22 households, RealtyTrac reported.

Categories : National News
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Aug
11

Congratulations to Ryan Earwaker – Winner of the Panthers Jets Tickets

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Categories : Uncategorized
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– Risk Management Association

On July 29, 2010 the House Financial Services Committee held a hearing entitled “Alternatives for Promoting Liquidity in the Commercial Real Estate Markets, Supporting Small Businesses and Increasing Job Growth.” The hearing was held as part of the Committee’s consideration of proposed legislation entitled “Commercial Real Estate Stabilization Act of 2010” (CRESA). The main thrust of this legislation would be to establish a commercial real estate credit guarantee program to empower community banks and other lenders to make loans while stabilizing the value of small denomination commercial real estate assets. Under this bill, a government guarantee would be provided for bonds backed by commercial real estate loans conforming to standardized underwriting guidelines. One-half of the program would be reserved for small and mid-sized banks (less than $10 billion) and the maximum loan size would be $10 million.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : National News
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