Category

commercial real estate

Big Data's Impact on Office Property Management and Building Operations

Big Data’s Impact on Office Property Management and Building Operations

By | commercial real estate

Technological advances are beginning to show significant impacts on how office property is managed and operated with the accumulation of digital data that help the commercial real estate industry make informed business decisions.  “The biggest trend we’re seeing is this whole digital disruption in our industry, from ubiquitous linked sensors to the technology that’s going into smart buildings,” said Dale Dekker, AIA, AICP principal with Dekker/Perich/Sabatini during a recent presentation at the NAOIP.   It’s truly driving commercial real estate in…

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Multiple Downtown King Street Properties Sold for $24.5 Million

Multiple Downtown King Street Properties Sold for $24.5 Million

By | Charleston SC, commercial real estate, SC

A real estate transaction valued at $24.5 million recently closed for a sale that combined ten King Street properties and six sellers. The King Street deal included the sale of a large downtown parking lot and two historic buildings in the city’s robust shopping corridor. The sale took over a year and a half to close and is one of the most significant deals on King Street. The final real estate deal was done through Charleston Commercial and GS Acquisitions and included…

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New Tax Law Opportunity Zones Promote Investment in Economically Distressed Areas

New Tax Law Opportunity Zones Promote Investment in Economically Distressed Areas

By | commercial development, commercial real estate, Economic Growth

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 and helped push through the legislation which gained bipartisan support from both Houses of Congress.  The Opportunity Zones were created as part of the 2017 Tax Cuts and Jobs Act to promote investment in regions of the country that were struggling…

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Demand is Strong for Office Space in Charleston

Demand is Strong for Office Space in Charleston

By | Charleston, Charleston SC, commercial construction, commercial development, commercial real estate, Commercial Space

The growth in the number of people who live and work in the Charleston area have increased demand for office space 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 increased total employment by 1.5 percent since last year with 5,200 new jobs created.  “The unemployment…

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Big Changes Ahead for Multifamily Housing

Big Changes Ahead for Multifamily Housing

By | commercial construction, commercial development, commercial real estate

At a recent conference on multifamily development, BMC Investment CEO Matt Joblon predicted big changes in the multifamily housing market during the next two decades. He said “co-living is a real possibility where people are sharing kitchens and common areas and just having bedrooms.  I think that will evolve.  Things will get smaller and tighter, and it will be more about the experience.” He compared this trend to Facebook where people are looking for a digital connection.  He believes that…

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Small Businesses Drive Growth in Commercial Real Estate Jobs

Small Businesses Drive Growth in Commercial Real Estate Jobs

By | commercial real estate

Commercial real estate jobs have picked up the pace since a hiring peak a decade ago, and the increase is being driven by small companies and secondary markets. Real estate companies are posting single job opportunities, indicating that smaller, more entrepreneurial firms are hiring. This is a new trend according David Funk, managing editor for the 2017 SelectLeaders Job Barometer Report (selectleaders.com) who oversees an in-depth assessment of the current U.S. job market in commercial real estate. “Over the last…

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International E-Commerce Transforming Industrial Real Estate

By | commercial real estate, Industrial Property

Consumers these days are promised anything and expect everything when it comes to the seamless delivery of a product to their home. The supply chain from retailer to consumer follows an international web of retailers and logistics companies, with the goal of speeding up delivery of goods to the consumer.  The demand for urban warehouses and international distribution centers has transformed the industrial real estate market. E-commerce has led to a borderless, international marketplace with growing demand for Western-made products…

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What Does the Future Hold for Retail Shopping Malls?

What Does the Future Hold for Retail Shopping Malls?

By | commercial real estate, Commercial Space

More than 3000 attendees from the ShopTalk conference came to talk about the health of  retail shopping in response to recent declining quarterly sales by a number of box stores, including Macy’s, Target, and Kohl’s.  These stores are seeing the need to cater to online shoppers and those individuals looking for deals at discount shopping outlets. Some analysts speculated that Amazon could supplant Macy’s during the next year as the lead seller of apparel and other goods. Steve Lowy, co-CEO…

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shared offices

Shared Offices Redefining Where People Work

By | commercial real estate, Uncategorized

The shared office movement has been gaining momentum for years, and is now skyrocketing. The popularity of shared offices is redefining where and when people work.  There was only one co-working space in 2005 compared to more than 3,000 worldwide in 2013. A recent article in Development magazine, “The Future of Shared Office Spaces,” notes “coworking centers and executive suites that offer shared workspace have become one of the hottest trends among tech startups, freelancers and creative types seeking community…

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U.S. Commercial Real Estate

Foreign Investment in U.S. Commercial Real Estate Soars

By | commercial real estate, Economic Growth

Foreign investors had a record year in investments in U.S. commercial real estate in 2015.  Foreign investment in direct property purchases totaled $91.1 billion last year, accounting for 17 percent of all such deals in 2015.  According to an analysis done by Real Capital Analytics, Chinese investors emerged as one of the biggest players in the U.S. commercial property market. Canadian investors also were a top foreign source of capital coming into the United States, and were behind several signature…

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