Archive for Greenwood

Aug
05

HVS Market Pulse: Greenwood, SC

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greenwood mapThe economy of South Carolina’s Greenwood County has evolved from its roots in textile production to large-scale manufacturing, health care, and research and development enterprises. Located southeast of Greenville, the area continues to diversify its economic drivers and hotel demand generators, with attractions ranging from museums and historic mansions to the literally grassroots Festival of Flowers, a major event for gardening enthusiasts nationwide.

The following HVS Market Pulse article looks at the impacts of this diversification on Greenwood’s hotel industry.

Key industries and Business Development

Self Regional Healthcare (SRHC) features cancer, heart, and vascular centers, as well as a women’s center and neonatal intensive-care unit. The healthcare facility also offers gastrointestinal and orthopedic services, as well as neurosurgery and neurology. Multimillion-dollar renovations were completed in June 2015, and the facility now features a lobby area comprising a 4,000-square-foot atrium, a modernized cafeteria with flexible space, expanded laboratory facilities, and an enhanced cancer-treatment facility.

Although these upgrades did not result in the creation of new jobs, the modernized and efficient healthcare facility is anticipated to attract more patients from surrounding areas, as well as new residents.

READ MORE HERE

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May
16

Greenwood Men Plead Guilty in Mortgage Fraud Case

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Lawsuit moneyFour Greenwood men have pleaded guilty to conspiracy to commit bank fraud after banks reported losing over $10 million in a lending scheme.

According to the U.S. Attorney’s office, John Harrison, 53, was a real estate developer who developed residential property in North Carolina, South Carolina and Georgia. Henry Dorn, 63; Kevin Dempsey, 45; and C. Jody Hazel, 42, were accountants for a firm handling Harrison’s financial statements and tax returns.

Over the course of an investigation, agents discovered that the accountants were keeping different sets of Harrison’s financial information.

“There were multiple sets of books kept for Mr. Harrison,” said Bill Watkins, assistant U.S. Attorney based in Greenville. “Information from one would be provided to lending institutions, and the other would be for tax returns and such.”

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Jan
21

Wheeler to Buy 14 Centers from Piggly Wiggly Carolina

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sold signsWheeler Real Estate Investment Trust Inc. of Virginia has entered into an agreement to buy 14 shopping centers in Georgia and South Carolina. Wheeler is acquiring the properties for $71 million from Piggly Wiggly Carolina Co., a Mount Pleasant-based firm that sold 29 of its Piggly Wiggly supermarkets in 2012 to Bi-Lo and Harris Teeter. The Mount Pleasant company is a sister company to Piggly Wiggly. The deal is set to close Jan. 29.

Wheeler’s acquisition will include three Charleston shopping centers, as well as locations in Greenwood, Mullins, Bluffton, Georgetown, Pawleys Island, Lexington, St. Matthews, Columbia and Ridgeland in South Carolina and one location in Darien, Georgia. The combined properties make up more than 603,000 square feet and are 92 percent occupied, according to Wheeler Real Estate, which already owns 19 shopping centers in South Carolina.

 

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Nov
20

NAI Earle Furman Announces Recent Sale Transactions

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Spartanburg, South Carolina: Dan Dunn and Grice Hunt, SIOR of NAI Earle Furman represented the seller in selling a 36,413 industrial building at 1750 Dewberry Road to Polydeck Screen Corporation.

Simpsonville, South Carolina: Tyson Smoak, CCIM of NAI Earle Furman represented the seller in selling a 5,834 SF medical office building at 103 Fairview Pointe Drive. Ross Kester, also of NAI Earle Furman, represented the buyer, Wolfram Enterprises, LLC.

Travelers Rest, South Carolina: Glenn Batson of NAI Earle Furman represented the seller in selling a 48.5-acre land parcel at the intersection of W. Darby Road and State Park Road to DSP1, LLC.

Greenville, South Carolina: Jake Van Gieson, Bill Sims and Gaston Albergotti of NAI Earle Furman represented the buyer in purchasing the Brookfield Promenade, a 18,000 SF retail complex at 1099 E. Butler Road.

Greenville, South Carolina: Peter Couchell, CCIM and Rob Schmidt of NAI Earle Furman represented the buyer in purchasing a 20,920 SF retail building at 509 Haywood Road, where The Tile Shop will remain as the tenant.

Travelers Rest, South Carolina: Ford Borders, SIOR and Grice Hunt, SIOR of NAI Earle Furman represented the buyer in purchasing an 11.85-acre land parcel on Cherry Blossom Drive.

Greenville, South Carolina: Tyson Smoak, CCIM and Ross Kester of NAI Earle Furman represented the seller in selling a 31,000 SF medical office building.

Greenwood, South Carolina: Towers Rice of NAI Earle Furman represented the seller in selling a 46.76-acre land parcel at 1541 Emerald Road.

Simpsonville, South Carolina: John Gray, CCIM and Drew Stamm of NAI Earle Furman represented the seller in selling a 4,940 SF office building at 3421 Industrial Drive.

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Aug
03

Wal-Mart Buying Land in Greenwood

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Wal-Mart quietly has been working on its second project in Greenwood. Three tracts of land were purchased by the Wal-Mart Real Estate Business Trust, according to titles to real estate and a land title survey filed with the Greenwood County clerk’s office.

The three tracts total more than 33 acres and cost the retail giant more than $1.4 million. The future site is between Bypass 25 Northeast and Cambridge Avenue East.

According to building plans submitted to the county building department, the new store is set to encompass 157,000 square feet under roof and will include an auto center. Greenwood’s current Wal-Mart Supercenter on Hwy. 72 Bypass NW is a little more than 199,000 square feet on about 25 acres.

SOURCE

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Jun
24

Upstate SC a Leader for Foreign Direct Investment

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Today, the Brookings Institution released a first-ever metro-level analysis of foreign direct investment’s role in the Upstate’s regional economy as part of its Global Cities Initiative, a joint project of the Brookings Institution and JPMorgan Chase. The report analyzes the types of foreign-owned businesses located in the area, outlines the region’s sources of foreign investment and demonstrates the number of jobs supported locally by foreign direct investment (FDI).

The report finds that among the largest 100 metropolitan areas, Greenville ranks 23rd for share of jobs in foreign-owned enterprises (FOEs) at 6.1 percent.

The report also finds that among all 366 metropolitan areas:

  • Spartanburg ranks 3rd for share of jobs in FOEs, at 18.0 percent (behind Columbus, IN and Kokomo, IN)
  • Anderson ranks 7th for share of jobs in FOEs, at 13.4 percent
  • Greenville ranks 67th for share of jobs in FOEs, at 6.1 percent

Among the country’s 616 micropolitan areas:

  • Gaffney ranks 11th for share of jobs in FOEs, at 23.6 percent
  • Greenwood ranks 22nd for share of jobs in FOEs, at 14.5 percent
  • Seneca ranks 38th for share of jobs in FOEs, at 11.7 percent
  • Union ranks 90th for share of jobs in FOEs, at 7.5 percent

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Sep
04

New Publix Center Coming to Greenwood

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With a 49,000 square foot lease, Publix becomes the anchor retailer at The Shops at Publix Pavilion, a new 71,000 square foot shopping center development in Greenwood, South Carolina. This location is part of Publix’s new hybrid concept which blends elements of its Greenwise Markets with its Publix grocery stores.

Located at the intersection of SC Highway 72 Bypass and Mathis Road, The Shops at Publix Pavilion is in a regional trade area serving six counties with an approximate population of 260,000. This site is approximately 50 miles from Greenville, SC, 60 miles from Augusta, GA, and 75 miles from Columbia, SC.

“We at the City are very excited about Publix coming to Greenwood,” said Welborn Adams, Mayor of the City of Greenwood. “Almost every day a resident asks me if Publix is really locating in Greenwood. Publix has an outstanding reputation for quality stores and also for being wonderful corporate citizens. I welcome Publix to Greenwood and look forward to many shopping trips there.”

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Dec
14

Greenwood Retail Center Sold

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Greenville-based Carolina Holdings Inc. said Thursday it sold its Shops at Westwood development in Greenwood.

The purchaser and sales price has not yet been released.

Carolina Holdings completed development of the retail center this fall. The property is fully leased to Mattress Firm and Aspen Dental. Carolina Holdings said it will remain as manager on behalf of the new ownership.

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Apr
18

Greenwood to Get New Retail Center

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Greenville-based Carolina Holdings Inc. began construction on The Shops at Westwood located on the Highway 72 Bypass in Greenwood.

The developer acquired the former Hollywood Video on the Highway 72 Bypass and demolished it. The new building will include an Aspen Dental office and a Mattress Firm retail store.

The design architect for the project is Greenville-based McMillan Pazdan Smith. The project is being constructed by Caldwell Constructors, with construction financing being provided by GrandSouth Bank. The civil engineering services are being provided by Hall Engineering.

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Jan
06

Council OKs Grant to Bring New Retail Development to Greenwood County

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– Index Journal

Greenwood County Council passed a resolution Tuesday night that helps clear the way for a potential $2.2 million retail development.

Council unanimously passed a resolution authorizing an economic development incentive grant for an anonymous entity that has been code named Project Green Pea.

Partnership Alliance executive in charge of operations Mark Warner talked about the project.

“This is a retail project with about a $2.2 million investment,” Warner said. “It would entail about 15 FTEs, or ‘full-time equivalent’ jobs.”

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.indexjournal.com/articles/2010/01/05/news/b0106%20council.txt
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Sep
30

Ziff Properties Acquires Shopping Centers In Spartanburg And Greenwood, S.C.

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September 30, 2008

Charleston, S.C.-based Ziff Properties has acquired two shopping centers totaling more than 220,000 square feet.
CB Richard Ellis represented an undisclosed seller in Ziff’s purchase of the 208,703-square-foot Cedar Springs Shopping Center in Spartanburg for $10.8 million. The property features a 34,928-square-foot Food Lion.

Ziff also purchased the 16,144-square-foot Greenwood Commons, located on the Interstate 72 Bypass in Greenwood, for $2.75 million. Marcus & Millichap represented the undisclosed seller in the Greenwood transaction.

LINK TO ARTICLE HERE:

http://www.rebusinessonline.com/news_southeast.shtml
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Jun
12

Greenwood Landlords Say Area Remains Haven for Renters

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June 11, 2008

By Felicia Kitzmiller – Index-Journal

The housing market is a mess. That much is clear, but what it means for renters is significantly more gray.

Last week, The Associated Press reported rental prices nationwide were facing downward pressure as homeowners struggling to make their mortgage payments decide to rent out their homes. This, of course, makes more rental units available and floods markets. The AP also reported vacancy rates at professionally managed properties were on the rise because of competition with private owners, and that apartment complexes were among the hardest hit.

However, only five weeks ago, USA Today reported exactly the opposite, saying rental prices are being forced up as people lose their homes to foreclosure and return to the rental market.

The sluggish economy and hemorrage of jobs is only speeding the process, according to USA Today. People are unsure about their future and decide renting is safer than buying. Those renters who would typically be looking to buy a home are also holding out in their rental a little longer, waiting to see if home prices get any lower, the paper reported.

Greenwood’s rental market is, so far, holding constant, according to area property managers. But just like the national market, signs for the future are pointing in all directions.

“We’re renting more units, but rent hasn’t gone down or up,” said Russell Lawrence, broker in charge at Greenwood Rental Agency.

Greenwood Rental Agency manages about 2,300 residential units and about 97 percent of those are currently occupied. Lawrence said this is slightly above the firm’s usual occupancy rate of 95 percent to 96 percent.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.indexjournal.com/articles/2008/06/10/news/news15.txt
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Jun
10

Greenwood Strip Center Sold for $2.95 Million

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Marcus & Millichap’s Michael Bennett of the Downtown Chicago office and Andrew Margulies of the North Carolina office have represented both buyers and sellers in the $2.95 million sale of the Commons strip center. Located across from Wal-Mart Supercenter in Greenwood, the 16,144-square-foot retail center sits on a 1.82-acre site.

LINK TO ARTICLE HERE:
http://www.rebusinessonline.com/news_southeast.shtml
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BLOG NOTE:
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A little research found that this center sold at a 7.54% overall rate.
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MBD

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