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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, 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…

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89 Percent of New South Carolina Residents from Out of State

89 Percent of New South Carolina Residents from Out of State

By SC

South Carolina continues to grow at a fast pace and is the 9th-fastest-growing state in the country.  A flood of new residents, mostly from out of state, continue to move here.  The population for the Palmetto State has nearly doubled since 1970 according to new U.S. Census Bureau estimates. This growth is due to new residents moving here rather than an increased birth rate.  Nevada and Idaho were the fastest-growing states in the country with a 2.1 percent growth between…

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Efforts Underway to Preserve Beidler Forest as Development Encroaches

Efforts Underway to Preserve Beidler Forest as Development Encroaches

By commercial development, SC

.The Audubon Society’s Francis Beidler Forest is an 18,500-acre bird and wildlife sanctuary located in upper Dorchester County.  The sanctuary is not a place you would find by accident since it is located off a two-lane country road in Harleyville. New industries and residential neighborhoods are beginning to encroach on the edges of the Beidler Forest and the 45,000-acre Four Holes Swamp as new roads and development go up all around it. “This has always been a very rural part…

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South Carolina’s Annexation Laws Create Inequities

South Carolina’s Annexation Laws Create Inequities

By SC

South Carolina’s annexation laws have prevented many cities from growing in an orderly fashion, even though urban areas are the driving force behind the state’s economy. In many cases the current annexation laws favor rural areas due to their longstanding domination in state politics, as well as support of property rights. A bill was introduced this year to reform the annexation laws, but did not go very far in the state legislature. The bill’s sponsor, State Representative Mandy Powers Norrell…

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South Carolina in Top Ten Most Popular Places for New Residents

South Carolina in Top Ten Most Popular Places for New Residents

By Charleston SC, Economic Growth, SC

South Carolina continues to attract new residents, remaining in the top 10 most popular places to move and settle.  As of 2017 the state ranks at number 7, a drop of two spots from the previous 12 months according to United Van Lines annual survey of inbound relocations. Who is Moving to South Carolina? United Van Lines said that 57 percent of their customers in South Carolina are new residents. This puts our state in the nation’s top destinations for…

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Locals at Odds With State Authorities in Mount Pleasant

Locals at Odds With State Authorities About Home Rule in Mount Pleasant

By Construction, Mount Pleasant, SC

Mount Pleasant residents were shocked when developers broke ground to build a new 269-unit apartment building off of Rifle Range Road.  The town’s residents had been packing Town Council meetings for two years to raise concerns about overdevelopment in Mount Pleasant. Many felt they were being ignored.  Little did they know that the development had been approved eight years ago as part of the Vested Rights Act. The State legislature passed the act to allow developments approved before the recession…

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Volvo Cars Campus Fueling Speculative Development in Berkeley County

Volvo Cars Campus Fueling Speculative Development in Berkeley County

By Charleston SC, commercial construction, Economic Growth, Industrial Property, SC

A Spartanburg developer is the latest firm to capitalize on the industrial growth expanding along the Interstate 26 corridor in Berkeley County.  The Upstate firm hopes to build one of Charleston’s largest distribution centers in the region. Speculative Building Plans in Berkeley County Johnson Development Associates has filed a permit application with the Army Corp of Engineers. They plan to fill  8.2 acres of wetlands at a 91-acre site in Jedburg.  The 829,000 square foot speculative building would be on…

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Economists Give Charleston Slow and Steady Forecast for 2018

Economists Give Charleston Slow and Steady Forecast for 2018

By Charleston SC, Economic Growth, SC

Four economists gave South Carolina a good economic report for the coming year, stating the economy will continue to grow much like in 2017 at a “slow and steady” pace. University of South Carolina economist Joey Von Nessen said that “if you liked 2017, you’ll probably like 2018 as well,” at a meeting of local Charleston real estate professionals.  Charleston economist Stephen Slifer with NumberNomics gave an optimistic report of “better than ever” for the local region, and stated that…

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Volvo Commits to Doubling Investment in Berkeley County

Volvo Commits to Doubling Investment in Berkeley County

By Economic Growth, Manufacturing, SC

Volvo Cars recently announced plans to double its investment in Berkeley County to more than $1 billion. This announcement comes before a single vehicle has been produced at its future manufacturing plant in Ridgeville. The new $500 million manufacturing plant is scheduled to open next summer with 2000 new employees.  The new investment will add an additional 2,500 new jobs to the area. “When we made the decision in early 2015 to build here, of course you make that kind…

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Charleston Bows Out of Race for 50,000 Jobs

Charleston Bows Out of Race for 50,000 Jobs

By Charleston SC, commercial development, Economic Growth, SC

South Carolina is a long shot to win the contract for a new Amazon headquarters in North America.  The state has no cities with at least 1 million people, no major international airport or highly developed mass transportation system to meet the logistic demands of Amazon.  Many states and cities are vying to have the opportunity to build the approximately 8 million square-foot Amazon campus. Charleston to Sit Out Race Charleston has decided to sit out the race for 50,000…

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