vicupstate

Leasing & Property Transfers in Downtown/West End vicinity

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That's good to hear! The Liberty buildings and the Wells Fargo building are undergoing some good investment/upgrades and seem to have a good bit of interest from new tenants.

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Just heard the BiLo at the corner of Park Ave/North Main is closing due to rent being doubled. Anyone else hear anything about this? Maybe the owner has a better offer out there?!?

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Just heard the BiLo at the corner of Park Ave/North Main is closing due to rent being doubled. Anyone else hear anything about this? Maybe the owner has a better offer out there?!?

I know they just cut the hours short... didn't know about closing though.

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I saw in the Greenville Journal last week that the site where the Savoury Corner is was for sale.  Has it closed down?  They seemed to do a really good business.  Loved their meatloaf sandwich.

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From Greenville News 

 

 

Growth is on the horizon for every commercialicon1.png real estate sector in the Upstate this year, experts say.

“Poised for Growth” was the theme of the annual real estate forecast delivered by CBRE experts Tuesday during their 2014 symposium at the Peace Center for the Performing Arts.

The common thread among all the markets — office, industrial, retail and land — is increased outside market interest and a lot of growth going forward, said Brian Reed, CBRE research manager in Greenville.

The inland port in Greer will have a huge impact on the industrial market, experts said.

It’s different from other every other inland port in the country in that it’s in the middle of a manufacturing hub, Reed said.

That’s important because it means manufacturers in the Upstate and places like Atlanta have the option to deliver here versus going to Charleston or Savannah, he said.

That will keep manufacturers here and attract new ones as well, Reed said.

Cabela’s, a specialty retailer of hunting, fishing and outdoor gear, is expected to open in Magnolia Park in March and help drive growth in the retail market.

It will be the first retailer with a regional draw outside of 50 miles, said Tommy Molin, a senior associate in CBRE’s retail services. That elevates the market to a little bit of a different playing field, Reed said.

Experts said the big story in the office market is rent growth.

Space for rent in the One building on Main Street is on the market at $28.50 a square foot, and the next most expensive building is $22 a square foot, Reed said.

“There’s a significant gap in between and that gap is an opportunity for existing landlords or other developers to kind of step in and potentially make capital investments to get their asking rates to that window,” he said.

Like the Greenville market, nationwide there’s a “flight to quality” in the office sector, said Jim Costello, CBRE’s managing director of Americas Research in Boston.

Tenants who want good space to help drive their business are willing to pay for it, he said, “so the Class A space has been taking off.”

Costello said a challenge going forward will be recruiting top talent and keeping young folks here.

“We have the millenials coming in but just not at the fastest pace to replace all the baby boomers who are just starting to retire,” he said.

“This can be hard to actually get faster job growth than we’ve seen in the last two years simply because there’s not going to be enough bodies to fill the space.”

 

 

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Greenville Health System has leased the space that was vacated by Smith Moore Leatherwood at 300 E. McBee Avenue. Smith Moore Leatherwood recently relocated to ONE.

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Office space seems to be doing well despite the new addition of the two buildings at One. Maybe we will see more office space sooner rather than later...?

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Late next month, more Greenville Health System (GHS) administrative offices are set to move into a downtown Greenville space at the SunTrust building on East McBee Avenue.

The move is prompted by the need for more space for clinical services at the Greenville Memorial Hospital campus, according to GHS officials. Approximately 130 employees will be moving into the space, they said.

More info: http://www.upstatebusinessjournal.com/news/ghs-corporate-hq-complete-downtown-move/

Edited by gman430

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Late next month, more Greenville Health System (GHS) administrative offices are set to move into a downtown Greenville space at the SunTrust building on East McBee Avenue.

The move is prompted by the need for more space for clinical services at the Greenville Memorial Hospital campus, according to GHS officials. Approximately 130 employees will be moving into the space, they said.

More info: http://www.upstatebusinessjournal.com/news/ghs-corporate-hq-complete-downtown-move/

 

Wow, that's a lot of employees.  I'm sure they will enjoy working downtown instead of the GHS campus (not that the campus is bad, but it's still a hospital and it's not downtown).

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A building permit was filed March 3rd worth $185,000 at 55 East Camperdown Way. That is the old BoWater building. Anybody know what is being planned there? I wonder if this means the vacated Clemson space has been leased? Mitchell Contract Interiors out of Greenville is listed as the general contractor.

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A building permit was filed March 3rd worth $185,000 at 55 East Camperdown Way. That is the old BoWater building. Anybody know what is being planned there? I wonder if this means the vacated Clemson space has been leased? Mitchell Contract Interiors out of Greenville is listed as the general contractor.

I'm hearing three new companies have leased space here.

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Four run down duplexs on Pearl Street next to the Brio have been purchased by David Stone.  He also bought the large parcel at Pearl and Biltmore.  He now owns all the property on BOTH sides of Pearl from Church to Biltmore except for three small SF houses on the south side of the street.

 

The Beach Company bought the land for South Ridge from Stone.                  

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