Archive for May, 2018

May
30

Columbia Average Apartment Rent Tops $1,000

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real data LogoAccording to Real Data, the Columbia area experienced weakened demand over the past six months. The occupancy rate was affected by this and is currently 91.4%. Construction starts slowed over the past six months with only 23 units starting construction. All of the units added to supply during this time period were located in the Northeast and Northwest submarkets. The average monthly rental rate is now $1,015.

Absorption levels are expected to improve but remain below upcoming supply. Vacancy rates are forecast to remain at elevated levels. Rental rates are expected to rise at a slower rate than recorded in previous years.

Categories : Columbia
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May
30

South Carolina Self Storage Facilities Sold

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two soldThe Storage Acquisition Group has announced the sale of two self-storage facilities located in South Carolina. The facilities, located at 2248 North Main Street in Summerville and 2711 Woodruff Road in Simpsonville, are part of a larger portfolio currently under acquisition. The sale was finalized on April 12, 2018.

The facilities total over 200,000 square feet and just over 1,450 storage units. The properties offer a mix of climate controlled and non-climate controlled units, drive-up access units, electronic gate access, video surveillance, and more for maximum convenience.

The Summerville facility is located just a few miles from the heart of historic downtown Summerville. Its location between State Road 176 and Highway 26 make position and visibility second to none. In addition, the Summerville area is growing rapidly with an average population increase of more than double the rates seen in the rest of the state.

The Simpsonville facility is located right beside the intersection of interstate highways I-385 and I-185 in an area dubbed ”The Golden Strip” for its prosperous commercial and retail sectors. The area is home to major corporations such as BMW, Michelin, GE, and Caterpillar to name a few.

The sale was managed by the group’s Vice President, David Spencer, and President and CEO, Cowles M. “Monty” Spencer, Jr.

Categories : Greenville
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May
01

Which Broker Marketing E-mails Do I Open?

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I don’t know how many property marketing emails you get per day, but it is probably a substantial number. I simply can’t look at them all, and I doubt that you can either. I would be willing to bet that the emails that show the city and state clearly in the subject line get opened more often. I welcome your feedback at mdodds@irr.com.

Michael Dodds, MAI, CCIM 

Categories : Uncategorized
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