Do you think keeping up with supply and demand trends isn’t necessary for you? Think again! Almost half (45%) of American businesses are struggling with supplier delays right now. If you’re not among that half, then you can expect to feel the repercussions soon. Experts estimate the global supply chain problems will only get worse as we head into 2022. If you’re not keeping up with supply and demand trends, then you should be. Why? They’ll impact your business in one way…
Whether you are an existing company doing a remodel of your space or a new tenant doing a build-out, you have a lot of things to consider when hiring a commercial construction company. Commercial construction has a few similarities to residential construction, but there are also many differences and potential complications for your business. If you’re planning on outsourcing your commercial construction needs, there are 3 questions you should ask to make sure you are choosing the right company. 1….
Commercial construction projects take on all shapes. Whether you are building or renovating an office, warehouse, or retail space, you want to make sure that your needs are met and your resources are maximized. When it comes to value engineering in construction, the goal is more about the best use of resources as opposed to finding shortcuts or the cheapest materials. What is Value Engineering? Value engineering in construction is a method the project team uses to improve your project’s…
As your business changes and grows, it makes sense that the office space it occupies is going to need to evolve to keep up. Whether you have experienced massive growth, have more office staff working from home, or have simply changed the focus of your business, now might be the perfect time to renovate your office space. Your office needs to reflect your brand, and this is tough to accomplish if it isn’t functional or its look is outdated. As…
Construction recently started on the Charleston Tech Center. The architecturally modern six-story office building will be located on the upper peninsula of Charleston, SC. The Charleston Tech Center (CTC) has been in the planning stages for the last five years and finally got the go-ahead by Charleston City Council to break ground under the new federal Opportunity Zones program. Construction of the long-awaited Charleston Tech Center will be a 92,000 square foot structure of tech-focused office space on Morrison Drive,…
Collier’s “2019 Research & Forecast Industrial Report” shows demand is high throughout the state of South Carolina in the industrial market. South Carolina’s industrial properties absorbed 4.81 million square feet, and the industrial market is expected to remain strong with a steady demand throughout 2019. There are 13.37 million square feet of industrial properties under construction which will provide quality space to the market at increased rental rates, according to the report. Market Indicators Are Strong Accessibility to domestic and…
As demand for new construction continues to grow in the Charleston market, vacancy rates continue to rise according to Colliers International Research & Forecast Q4 2018 Report. The expectation is that the vacancy rate will continue this trend into the first few quarters of 2019. This vacancy rate is on the rise primarily due to 11 new office buildings delivered in 2018, totaling 433,024 square feet of new construction. The Charleston office market has a total of 13,185,388 square feet…
The East Cooper side of Charleston Harbor will soon see the development of an 18-acre parcel that will furnish 1 million square feet of office space, retail, hospitality, and residential space. Bennet Hospitality of Charleston and Atlanta-based Holder Properties are the developers of the Ferry Wharf project. The development is already under construction with a five-story 120,000 square foot office building called Portside. Serendipity Labs of New York preleased 30,000 square feet, and financial firm Merrill Lynch 25,000 square feet…
The growth in the number of people who live and work in the area has increased demand for office space in Charleston according to research done by Marcus & Millichap, a California-based commercial real estate brokerage and research company. New business headquarters and centers are interested in renting office space in Charleston as a result of increased employment and population gains in the Lowcountry. Charleston Employment and Vacancy Rates Charleston increased total employment by 1.5 percent since last year with…
Federal regulators have approved plans to extend Joe Riley Waterfront Park to the north and front of a luxury apartment building. The “River Walk” project will expand by 400 feet along the Charleston Harbor and will be accessible to the public. Developers expect to begin the project in 2019 and to complete it by 2021. Charleston’s Waterfront Park The waterfront park is the “most visited” park in downtown Charleston. The park will extend from the north entrance of a portion…
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