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 that totaled 433,024 square feet of new construction. The Charleston office market has a total of 13,185,388 square…
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. The Ferry Wharf development, with views across the harbor of downtown Charleston, is being developed by Bennet Hospitality of Charleston and Atlanta-based Holder Properties. The development is already under construction with a five-story 120,000 square foot office building called Portside. The office building is already 45 percent preleased to…
Foreign investment in U.S. homes has surged to the highest level during the last year. Foreign buyers have snapped up $153 billion worth of U.S. residential properties which marks a 49 percent jump from 2015-2016, according to the National Association of Realtors. Florida, Texas and California drew the most investments from foreign countries. The huge jump in investment comes as a surprise after a recent slump and the current strength of the U.S. dollar against foreign currencies which makes the…
The former Albemarle School in West Ashley has been converted to 20 office spaces and is already fully leased. Charleston attorney John Hagerty bought the 25,000 square foot property in 2015 for $1.4 million and immediately started a renovation for an additional $1.6 million. The newly refurbished office building is now called the Schoolhouse. The Parks Conservancy has leased 4,000 square feet of office space, on the backside of the building, which is adjacent to the Parks Conservancy’s 3 1/2acre…
Charleston City Council voted down the contract with the firm selected to develop the West Ashley Master Plan in late December. Dover Kohl was the planning firm selected by the West Ashley Revitalization Commission, and presented to the City Council as the top pick of a dozen bidders for the project. The selection committee includes three council members and five city employers. Dover Kohl is known locally for its involvement in the development of the I’On Development in Mount Pleasant. …
Readers of Travel & Leisure magazine recently voted Charleston the number one city in the world in the tourism magazine’s Worlds’ Best City ranking. This is the first time Charleston was placed on top of the world in the magazine’s rankings. It is also the first time a destination in the United States (U.S.) made the top of the list. Travel & Leisure (www.TravelandLeisure.com/WorldBest) also named Charleston as the number one city in the United States and Canada for the…
Charleston Regional Development Alliance (CRDA) and the Charleston Metro Chamber of Commerce unveiled their five year strategy for economic development of the Charleston metro area. The new plan, called “One Region,” (oneregionstrategy.com) builds on the region’s previous efforts to make the Charleston region more competitive for job growth and business investment. Some “high impact” industries highlighted in the plan include aerospace, automotive and information technology. The plan was developed based on over 1,000 hours of research, surveys, focus groups, and interviews…
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…
The benefits of landscaping your commercial space can’t be overstated. A well landscaped building can draw the attention of new potential clients and customers, it can attest to the durability, dedication, and attention to detail of your business, and it can improve the attitude and productivity of your employees. Accomplishing all this takes more than planting a few bushes and keeping the turf well trimmed; it requires careful design and maintenance. To help you consider the aspects and advantages of…
The appearance of your commercial office suggests to potential customers and clients the success of your business, as well as its values. For example, a unique design suggests creativity, and a clean, uncluttered space says your business is professional. Furthermore, the right layout can increase the productivity and efficiency of your business! To help you jump-start the design process, we at Carolina Services Inc have composed this list of 5 commercial office space design ideas. 1.Clear Some Floor Space Offices…
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