Not all commercial real estate projects are targeted towards rentals, retail, or traditional office space. Another alternative that has risen to the surface is a less traditional office space layout designed for co-working space. Many workers and companies alike now shun the idea of a traditional office environment. But, sitting at home may not be the ideal solution either. If you are considering co-working space for your next project, here is what you need to know about them and some…
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…
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…
A real estate transaction valued at $24.5 million recently closed, combining 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 18 months to close and is one of the most significant deals on King Street. About the Transaction Charleston Commercial and GS Acquisitions completed the final real estate deal. Included were two historic structures on…
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…
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.” The Future of Multifamily Housing He compared this trend to Facebook where people are looking for a…
Summerville expects rapid growth in office buildings and commercial space in the coming years. The latest analysis from Colliers International Research and Forecast Report states there are several key factors that make the area ripe for growth in office space: The Summerville submarket has an established residential growth market. The large supply of available residential land in highly sought-after public school districts. The area already has 2.5 million square feet of office space entitled around the US 17 and Sheep…
Commercial real estate jobs have picked up the pace since a hiring peak a decade ago. That 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 to David Funk, managing editor for the 2017 SelectLeaders Job Barometer Report (selectleaders.com). Funk oversees an in-depth assessment of the current U.S. job market in commercial real estate. “Over the last…
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. He immediately started a renovation for an additional $1.6 million. Developers named the newly refurbished office space 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 Magnolia…
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. The Effect of E-Commerce E-commerce has led to a borderless, international marketplace with growing…
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