Archive for September, 2010

Sep
21

Oconee County to Develop Plan, Move Ahead With New Industrial Park

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– Anderson Independent Mail

Oconee County officials look to have a rough plan for a new combined industrial park and recreational area inside a month, with a closing on the property possible before year’s end.

Dan Estaban, with the Greenville office of the B.P. Barber civil engineering firm, told county council members Saturday that his firm needs about two more weeks of field testing on the proposed project site along S.C. 11. A conceptual plan in line with the council’s aims could follow perhaps as early as a week later.

Estaban said his firm is carrying out such tasks as topographical analysis, wetlands assessment and an archeological and cultural resource analysis of the site before issuing a final report to the county.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Anderson
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Sep
21

MIT Professor Says Home Construction to Make Big Comeback

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– Valuation Review

An MIT professor is bucking current predictions for the home-construction market and suggesting that construction will not only rise, but also stay high for a while, a performance that runs contrary to what followed previous economic recoveries.

William C. Wheaton, professor with the Department of Economics, MIT Center for Real Estate, said today’s rate of residential construction is historically low and demand will ultimately exceed the level of building going on. This will set the stage for a return to vibrancy in the housing construction market.

Housing construction could be the driving force behind America’s economic growth over the next few years, according to Wheaton. Residential investment as a share of GDP is relatively small, averaging about 3 to 4 percent. But given the lack of building going on at the moment, it is plausible housing construction could add an average of 0.7 percent to GDP growth per year over five years.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : National News
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Sep
21

Mount Pleasant Luxury Apartment Complex Sold

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– postandcourier.com

A Mount Pleasant apartment complex has changed hands, going from a longtime Charleston real estate firm to a buyer with ties to a Wall Street powerhouse.

The Beach Co. recently sold its Watermark rental complex on Bowman Road for nearly $38.4 million to Central Square Holdings LLC, a Delaware entity that’s operated through J.P. Morgan’s asset management division.

The buyer paid about $160,000 on average for each of 240 apartments within the complex, which is buffered by commercial space and a neighborhood of single-family homes that The Beach Co. will continue to develop at Watermark.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Charleston
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Sep
21

Darren Bouknight Joins Integra SC as an Analyst

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I am pleased to announce that Darren Bouknight has joined Integra Realty Resources – SC as an analyst. Darren entered the commercial real estate appraisal profession in 2009 after spending a couple of years with NAI Avant. His brokerage and leasing background gave him a wealth of real estate experience that will benefit the firm. Darren graduated from Clemson University with a Master of Business Administration.
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He will work in the Columbia office, where he will handle appraisal assignments on general commercial properties.
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Welcome Darren!
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Michael Dodds, MAI, CCIM, MRICS
Categories : INTEGRA NEWS
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Sep
21

ULI South Carolina Welcomes Andy Gowder as New Chair

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ULI South Carolina is pleased to announce our newly appointed state chair, Andy Gowder. Andy, a shareholder at Pratt-Thomas Walker, has been an active full member of ULI for the past six years. Locally, Andy has served in a variety of leadership roles including Coastal Chair, Assistant State Chair, and member of ULI South Carolina’s Founding Executive Committee. Nationally, Andy is a member and Vice Chair At-Large of the Sustainable Development Council. He is also an alumni of the ULI South Carolina Sustainable Leadership Institute.
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Andy took rein of the South Carolina District Council on July 1st and will serve as Chair through June 2012. Under Andy’s leadership, ULI South Carolina will continue to provide leadership in the responsible use of land and in creating and sustaining thriving communities in our state.
Categories : South Carolina News
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Sep
20

Landlords, Retailers Benefit From Increased USC Enrollment

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– scbiznews.com

More students are at the University of South Carolina this fall, and that should mean more customers at Columbia businesses. One sector already has benefited from the boom: the stadium-area apartment complexes that cater to students.

Businesses, meanwhile, believe the surge of students in the past two years might be helping, but it’s still early for some as freshmen and transfer students find their way around Columbia.

USC welcomed about 4,400 freshmen this fall, breaking the record of last year’s 3,930. About 93% of freshmen are expected to live on campus, according to USC.

Total student count also is up. In October 2008, the total student count for USC’s Columbia campus was 27,488. Now it is 29,023, according to preliminary numbers compiled in early September. That’s an increase of almost 5.6%.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Columbia
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Sep
20

Downtown Charleston Hoteliers Worry about Oversaturation, Higher Rates

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– The Post and Courier

From the old federal building on Meeting Street to the vacant library on Marion Square and the lot next to the round Holiday Inn on Savannah Highway, developers have laid plans for new hotels around downtown and just off the peninsula.

A long-stalled project at Meeting and Wolfe streets beside Burris Discount Beverages should start to take shape as a five-story hotel by year’s end, blending traditional brick with a contemporary glass tower.

Blocks away the Holiday Inn Historic District at Meeting and Calhoun streets reopens as a Courtyard by Marriott in March and adds 50 rooms to its offerings next fall.

Other proposals still remain in the earliest phases of city approval and years from completion.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Charleston
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Sep
20

Boeing Could Mean Retail, Commercial Boom for Moncks Corner, Summerville

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– scbiznews.com

The leader of study on Boeing Co.’s economic impact in the region told a real estate industry group on Thursday that much of the residential and retail growth related to the project would likely be seen in the Moncks Corner and Summerville areas.

Speaking at an International Council of Shopping Centers event, Harry Miley, principal at the economic consulting firm Miley & Associates, said he thought that would be the case “if I was putting money down.”

Miley & Associates released its findings in May. The study was commissioned by Columbia-based non-profit Alliance for South Carolina’s Future.

Thursday’s event was aimed at giving commercial real estate players in the region an idea of what to expect in the years ahead.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Charleston
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Sep
17

Historic Adluh Warehouse to Be Converted For Stores, Restaurants, Offices

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– The State

One of the largest and most historic buildings in The Vista — the Adluh Flour warehouse — is up for rent, with plans to convert it into stores, restaurants, bars or offices.

The 18,100-square-foot building has been empty for about a decade, since the Allen Brother Milling Co., as the firm is officially known, shut down its retail business and the space was no longer needed for packaging and storage.

The milling operation in the distinctive white silo for wholesale customers will continue, said Beth Ellis, the company’s controller and a member of the Edgerton/Allen family, who has owned the firm since J.B Allen Sr. founded it in 1926.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Columbia
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Sep
17

Graph: Spread Between Cap Rates and 10-Year Treasury

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Graph from Real Capital Analytics

Categories : National News
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Sep
17

Foreclosures Fall More Than 10% across Palmetto State

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– scbiznews.com

Foreclosure numbers decreased more than 10% from July to August, according to a monthly report from a national real estate tracking firm.

The amount beat the national average, which showed an increase of nearly 5% in month-to-month foreclosure numbers, said the RealtyTrac report.

The company’s U.S. Foreclosure Market Report also showed that the number of homes in distress, default or repossession was up nearly 37% in August compared to the same month in 2009 in South Carolina.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : South Carolina News
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Sep
16

Investor Hunger for Apartments Still Sharp in Second-Half 2010

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– CoStar

Multifamily property in major metro markets remains the asset of choice for many commercial real estate investors, with momentum fueled by a number of large late-summer sales transactions following a solid first half of 2010.

Public and private REITs have landed the largest deals of late, but private equity, pension funds, insurance companies, owner-developers and even private individuals are all getting into the action for both core and distressed multifamily projects in large metros around the country, according to CoStar Group sales data.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : National News
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Sep
16

Interesting Subdivision Design – Copenhagen, Denmark

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Categories : Uncategorized
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Sep
10

Medical Office Building in Spartanburg Sold for $3.2 Million

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Scott Jones, SIOR of NAI Earle Furman, LLC recently represented investor, Modaff Properties LLC in purchasing a newly constructed freestanding medical office facility located at 279 N. Grove Medical Park Dr. in Spartanburg. The facility is 13,913 square feet and is a newly constructed freestanding medical office with a 10 year lease guaranteed by the US Government – Department of Veteran Affairs. The 13,913 square foot property is fully occupied by the Spartanburg Veterans Outpatient Clinic. The purchase price was $3,200,000, and the original asking price was $3,700,000.
Categories : Spartanburg
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Sep
10

Self Storage Facility in Augusta Sold

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Dale C. Eisenman, CCIM of Midcoast Properties, Inc. represented the seller, in the sale to a private investor of Augusta Self Storage located in Augusta, Georgia. Augusta Self Storage is a largely traditional self storage facility with an onsite apartment featuring 240 non-climate units totaling approximately 27,500 square feet. The property offers additional onsite expansion with a total of over 4 acres.


Augusta Self Storage is a well established facility having opened in 1978 and is located near the famous Augusta National Golf Course.
Categories : Augusta
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