Archive for Columbia

Jul
18

I Can Assist With Your Richland County Tax Appeal

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appeal approvedRichland County recently mailed the revaluation notices to those owners with increases of $1,000 or more in their taxable value.  If you own commercial or high-value residential property in Richland County, I can help you decide if an appeal is warranted. While the assessor’s office does a good job in general, reappraising every property in any county is a difficult job, and mistakes are often made. Knowing that your taxable value is too high is one thing, proving it is another.

Mike Dodds (803) 960-8783

Twitter users can follow my tax appeal feed at https://twitter.com/IntegrityPTA

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Jun
10

Cushman & Wakefield | Thalhimer Opens Columbia Office

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CW ThalhimerCushman & Wakefield | Thalhimer has announced they have established an office in Columbia, SC, located at 1320 Main Street, Suite 300. Additionally, Spencer Green has joined the Columbia office as a vice president, and will focus on office and industrial sales and leasing in Thalhimer’s new office. Mr. Green comes to Thalhimer from Cushman & Wakefield’s Atlanta, Georgia office where he was a Director of the Logistics and Industrial Service Group, providing clients with strategic and creative transactional services including site selection, market research, financial analysis, leasing and purchasing new space, and selling excess space. Mr. Green has expertise with companies with a multi-market presence and a need for portfolio services, managing more than 100 locations for multi-market clients in the United States and Canada.

The Columbia office is Thalhimer’s third location in South Carolina. They opened offices in Charleston and Greenville in 2012 and have 13 brokerage professionals and 3 property management associates in those markets. Brian J. Young, CCIM, SIOR, Senior Vice President and Managing Broker of Thalhimer’s Greenville office, will oversee the Columbia market in addition to his Upstate responsibilities.

Spencer Green comments “I look forward to the opportunity to build on the momentum Cushman & Wakefield | Thalhimer is already having in the state of South Carolina and I am excited to bring a new approach and an iconic brand to the commercial real estate industry in Columbia.”

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May
31

Columbia Apartment Vacancy Rises to 8.9%

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house constructionAccording to Real Data, supply outpaced demand in the Columbia area over the past six months. The occupancy rate was affected by this and is now 91.1%. There are currently six communities under-construction in the overall market. These communities are located in the Central, Northeast and West submarkets. Rental rates increased by 3.2% over the past twelve months bringing the average monthly rent to $1,077.

Over the next year, new supply will decrease to meet demand. Therefore, occupancies are forecasted to remain level over the next year. Rental rates will increase by 2.5% to 3.0% over the next twelve months.

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Mar
27

Short Term Office Space Lease Available in Columbia

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CaptureI have 3,500 square feet available on the first floor of my office building. Knowing that I am going to lose my building to eminent domain for the “malfunction junction”  re-do, I can only lease it for a short-term (9 to 18 months). If you know of a growing company that expects to outgrow their space quickly or a company that needs space while their new building is under construction, keep me in mind. The building is at 500 Lawand Drive in the St Andrews submarket. A floorplan and interior photos can be seen HERE.

Mike Dodds (803) 960-8783

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Mar
27

Columbia and Bluffton Self Storage Facilities Sold

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self-storage3Midcoast Properties, Inc. has announced the sale of Plantation Self Storage, a two-property portfolio located in Bluffton and Columbia, South Carolina, in early March to Morningstar Storage.

The facilities feature both climate-controlled units and non-climate drive-up units, as well as lockers, wine storage, covered drive-up units, and RV and Boat parking. Combined, there are a total of 19 buildings situated on 14.85 acres, with over 165,000 RSF. Amenities include cameras, lights, digital gate access, timers for lights in hallways, move-in trucks, and offices with moving supplies. They each enjoy good visibility and are situated near shopping centers and residential developments.

Dale C. Eisenman, CCIM of Midcoast Properties, Inc. represented the seller and had the listing to market the facility.

Categories : Bluffton, Columbia
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Mar
26

Short Term Office Rental Available in Columbia

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CaptureI have 3,500 square feet available on the first floor of my office building. Knowing that I am going to lose my building to eminent domain for the “malfunction junction”  re-do, I can only lease it for a short-term (9 to 18 months). If you know of a growing company that expects to outgrow their space quickly or a company that needs space while their new building is under construction, keep me in mind. The building is at 500 Lawand Drive in the St Andrews submarket. A floorplan and interior photos can be seen HERE.

Mike Dodds (803) 960-8783

 

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Mar
05

92 SC Food Lions to be Renovated

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food lionYour Food Lion could be getting a makeover soon.

The company announced Monday that it will remodel 92 stores in the greater Myrtle Beach, Florence, Columbia and Charleston markets in 2019.

The $158 million investment will go toward remodeling the stores, lowering prices and expanding the assortment of products of available at each store. Food Lion is also expecting to hire nearly 2,000 new associates at the stores.

“Food Lion is proud to have been a part of the many towns and cities we serve throughout South Carolina for 43 years and we are even more excited to bring exciting new offerings, services and a new look to these markets,” said Food Lion President Meg Ham.

READ MORE HERE

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Nov
20

Irmo Medical Office Building Sold for $172/sf

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IMG_3984A 7,400-square-foot single-tenant medical office building in Irmo has sold for $1.27 million.

The building, at 7611 St. Andrews Road, sold to a 1301 Exchange purchaser from Anderson and is occupied by Palmetto Primary Care Physicians. Palmetto Primary Care Physicians (PPCP) is the largest independent multi-specialty group practice in South Carolina, with 30 physician’s offices in four counties. That lease was facilitated by NAI Avant broker Peyton Bryant, who also completed the building’s investment sale, in June.

Integra Realty Resources – Columbia is pleased to have provided appraisal services for this transaction.

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Nov
19

Connectivity a Goal of Columbia Developers

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vibrant columbia2As Columbia’s historic communities and neighborhoods continue to attract redevelopment, industry leaders think that growth could serve as connective tissue linking the region’s economy.

A four-person panel of developers, architects and real estate professionals talked about the area’s challenging tax structure and the attributes that separate Midlands markets from competitors such as Charleston and Greenville during the Columbia Regional Business Report’s Power Breakfast event on Thursday.

One area seeing steady growth is Cottontown, a section of downtown across Elmwood Avenue where new shops pop up regularly along North Main Street and its arteries. One of the businesses the area attracted is architecture firm Studio 2LR, which relocated to a building built in 1938 at the corner of North Main and Confederate Avenue in 2016 after 10 years in the Vista.

“It’s perfect for what we want to do,” Lyles said. “The attractiveness is the neighborhoods, the costs, and there are some really cool buildings. There’s a lot of good things going on out there.”

READ MORE HERE

 

Categories : Columbia, Uncategorized
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Nov
19

The Inn at USC Sold

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Inn at USCThe Inn at USC has been acquired by Chicago-based Adventurous Journeys Capital Partners.

The 116-room hotel, formerly a Wyndham Garden hotel, will undergo a comprehensive renovation and become part of the new owners’ Graduate Hotels group, a style tailored to towns with universities. The hotel, located at 1619 Pendleton St., will be the first of that kind in the Carolinas, according to a news release. The hotel will remain open during renovations, the release said.

CRBE facilitated the transaction, with Arpit Shah of CBRE Hotels’ Charlotte office and Martin Moore of the company’s Columbia office representing the sellers.

IMIC Hotels is a Columbia-based property management company.

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Jul
30

Richland County Mails Assessment Notices

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Property-Taxes3Approximately 18,000 assessment notices have been mailed to Richland County property owners to inform them of the new taxable value that their property taxes will be based upon. This is not a county-wide reassessment, but it affects owners that recently bought their property, renovated their building or constructed their building.

If you have received a notice and feel like the new value is too high, give me a call at (803) 960-8783. I routinely work with commercial property owners to determine if a tax appeal is worth pursuing.

Michael Dodds, MAI, CCIM

Categories : Columbia
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Jul
30

NAI Avant Announces Transactions

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nai avant logoNAI Avant senior brokers Nick Stomski, SIOR and Dick Stanland, CCIM, SIOR, GRI recently procured the industrial lease transaction at 1501 Key Road in Columbia, S.C. XPO Logistics, LLC will occupy suite C and D, totaling 15,000 square feet of the industrial building. The landlord in the transaction is DWB Key Road Warehouses II, LLC. XPO Logistics, LLC is a top ten global logistics company as well as the largest logistics provider in North America. The company offers two reporting segments: transportation and logistics. The company averages 160,000 shipments and over seven billion inventory units every day.

NAI Avant announced Shear Rhythms Full Service Salon will occupy 3,500 square feet of retail space in the Fashion Place Shopping Center located at 2720 Decker Boulevard. Broker John Gregory, PE represented the tenant, Shear Rhythms Full Service Salon, LLC. The landlord in the transaction is SC Fashion Place, LLC.

NAI Avant announced the sale of a retail store located at 1012 Broad River Road in Columbia, S.C. Senior broker Gerald Steele and broker Lee Bussell Jr. represented the seller in the transaction. You’re Approved Auto Sales, LLC purchased the retail building for $300,000.

NAI Avant announced the top producers for the second quarter of 2018. The second quarter’s top producer is Macon Lovelace, SIOR. Lovelace specializes in the sale and leasing of office properties, development sites, commercial buildings, and investment properties. He has been recognized in 2012, 2013, 2014, 2015, 2016, and 2017 by Costar as one of the area’s top brokers based on overall transaction value. He also holds the SIOR designation, a prestigious professional office and industrial real estate association. Following Lovelace, the top producers in order are Ben Kelly, SIOR, Paul Hartley, SIOR, Nick Stomski, SIOR and Roger Winn, SIOR.

NAI Avant senior broker Roger Winn, SIOR, broker Peyton Bryant, and brokerage associate Braden Shockley recently represented the landlord, Lake Murray Family Medicine Building, LLC, in the lease transaction of 7611 St. Andrews Road in Irmo, S.C. Palmetto Primary Care Physicians will occupy the 7,596 square foot medical office building.

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Jun
20

CBRE Executes 10,731 SF Lease in Lexington

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leased-agreement-with-keysCBRE has executed a 10,731-sq.-ft. lease at Southlake Center, a 42,000-sq.-ft. multi-tenant office building in the Lexington submarket of Columbia, SC.

CoCreate Lexington, a locally owned and operated coworking startup, will occupy the property at 714 South Lake Drive this summer to offer sharable office space, technology, and meeting rooms to the Columbia area business community.

Categories : Columbia, Lexington
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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.

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Feb
19

NAI Avant Leases Columbia Industrial Building

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leased-agreement-with-keysNAI Avant senior broker Nick Stomski, SIOR and Dick Stanland CCIM, SIOR recently represented the landlord, Shop Grove Warehouses, LLC, in the lease transaction of 199 Shop Grove Drive in Columbia, SC. Ansco & Associates will occupy ±16,770 square foot of the modernized distribution space.

This lease brings Shop Grove warehouses to 100% occupancy, merely 2 months after completing the third and final building. This project has set a new bar for the mid-tier warehouse space in the Columbia market. Exceptional building quality, 30’ clear heights, ESFR fire suppression systems, minimal columns throughout and a proven location have all attributed to the success of the park.

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