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…
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…
Most businesses today want to save money in any way possible, as well as be socially responsible. They achieve both goals by choosing a building that is energy efficient. While some efficiencies can be achieved with modifications, the most effective ones will come from the design and construction phases. Interestingly, some areas of the country are more successful at this approach than others. So, how can you get the most energy-efficient performance out of your next commercial construction project? Commercial…
Whether you are a property manager that wants to modernize your space or a tenant that needs to complete a build-out to add the customized features you need for your business, commercial remodeling projects can be complex. Many owners and tenants aren’t sure what to expect when approaching one of these projects, so having the right information on hand in advance can make planning and dealing with the process more seamless. The Difference Between Remodeling and Renovation If you’re looking…
Businesses operating in the for-profit sector rely on profits for growth and survival. Profitability, or optimizing the bottom line, is essential to expanding operations, securing financing, attracting investors, retaining a quality workforce, buying inventory and remaining competitive. Indeed, for all organizations large and small, controlling expenses and making budget cuts is both prudent and necessary. As Sam Walton said, “Control your expenses better than your competition. This is where you can always find the competitive advantage.” Ideas to Improve Your…
The new tax law passed in 2018 provides commercial real estate investment opportunities with the establishment of new regulations that permit Opportunity Zones. South Carolina Senator Tim Scott and U.S. Representative Ron Kind (D-WI) were promoters of the concept. They helped push through the legislation, which gained bipartisan support from both Houses of Congress. The creation of Opportunity Zones was a part of the 2017 Tax Cuts and Jobs Act. The goal is to promote investment in regions of the…
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…
Revitalization of the North Charleston South End continues to seem elusive with little progress and broken promises. There is hope that the commercial corridors of Rivers and Reynolds Avenue will be revitalized, as well as the surrounding Chicora-Cherokee community, but it has been a long wait. Omar Muhammad, president of the nonprofit Lowcountry Alliance for Model Communities, sees great potential for this part of town. “This area down here is really going to grow, just because of the port and…
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