The CARES Act has opened the floodgates to free money for businesses. Below are the basic details of loans available to businesses. They are incredible unless regulations apply limits: This new law lets any business borrow 2.5 months of payroll, benefits, interest on loans and lease payments. The loan is made through a bank that is an SBA approved lender and is guaranteed by the SBA. Loan Is nonrecourse to the borrower. The loan is forgiven if you don’t cut…
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…
Preparing Your Business for the Effects of the Coronavirus – Emergency Business Planning With the rapid onslaught of the Coronavirus already disrupting business operations in the U.S., there are three ways you can face the future: panic, do nothing, or plan. As we work with business owners through these tough times, we know the best way to do this is to plan, making the situation under your control as much as possible. By now you have probably read all the…
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…
Like any other property, commercial buildings are at risk of damage from catastrophic weather events that can produce flooding. Depending on your location and the season, losses caused by hurricanes and tornadoes are possibilities. But seasonal storms with their heavy winds, rain, and lightning strikes can also bring flooding concerns. Few areas in the United States don’t have a risk of floods, but South Carolina’s risk is greater than some. National Geographic reports that floods are responsible for about 140…
Like any other property, commercial buildings are at risk of damage from catastrophic weather events that can produce flooding. Depending on your location and the season, losses caused by hurricanes and tornadoes are possibilities. But seasonal storms with their heavy winds, rain, and lightning strikes can also bring flooding concerns. Few areas in the United States don’t have a risk of floods, but South Carolina’s risk is greater than some. National Geographic reports that floods are responsible for about 140…
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, including office expenses, 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 Bottom…
Who doesn’t like a good deal? No one, right? A good deal means a good value, a favorable opportunity, a positive situation, a pleasing outcome. You’ve got all of those in Charleston, SC. A wonderfully livable city and plenty of good jobs in Charleston make this a very desirable area in 2020. Charleston is a Good Deal For the past five years, SmartAsset, a financial technology company, has published a study about “undervalued cities,” meaning that real estate property values…
The term “undervalued” sounds negative, but in a real estate or financial sense, being undervalued is a very good thing, meaning that real estate property has greater value than its cost. In other words, a good deal; a bargain. On top of that, Charleston is highly regarded as a great place to buy a home and a delightful place to live. For four years running, SmartAsset, a financial technology company, has published a study about undervalued cities. For the last…
Are you thinking about a remodel office project? While a bigger space may be necessary for a growing company, sometimes making the existing space better, more efficient and more appealing is a great way to go, with an attractive payback. The Benefits of a Renovation Consider these renovation benefits for your remodel office endeavor: Enhance employee satisfaction and happiness. Improve the company’s image and leverage branding efforts. Create a stronger company culture. Achieve added work productivity and efficiency. Attract added…
“Space: the final frontier.” You may remember these words used at the end of the Star Trek film series. While that expression served well to summarize the great adventures of the starship Enterprise and its intrepid crew, it may also have some application to business today. Space, office space that is, now offers new challenges for business leaders. While it is not the “final frontier,” office space faces a new frontier due to changing worker demographics. Today, workers are living…
If you are planning to construct a new office building, many factors come into play. Those factors include the characteristics of the location, and of course, construction and operating costs. Depending on your objectives, the possibility of central business districts may be on your list of considerations. What are Central Business Districts? Central business districts function as the commercial and business centers of cities. They are usually thought of as a city’s “financial district,” often termed the “city center” and…
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…
Construction recently started on the Charleston Tech Center, an architecturally modern six-story office building 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, costing $54…
Charleston’s office market is poised for sustained growth through the rest of 2019 according to the latest Collier’s Research and Forecast Report. Vacancy rates will tighten as tenants compete for available office space until new buildings become available. The Charleston suburban markets will see a rapid growth this year and will gain new office space as developments are completed. There are currently 832,819 square feet of office buildings undergoing construction or renovation in the Charleston metropolitan area. Charleston’s Upper Peninsula is Booming…
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