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CBC Atlantic Newsletter M Ay 2021

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CBC Atlantic Newsletter M Ay 2021 THE LOOP CBC Atlantic Newsletter M Ay 2021 CBC Atlantic’s Month of M AY THERE’S AN INDUSTRIAL REAL ESTATE BUILDING FOR MARKET WATCH THAT MEDICAL OFFICE FOR LEASE If you pay any attention to commercial real estate news, you can’t help but notice that industrial is the darling of the Commercial Real Estate (CRE) sector right now. With the exponential increase in e-commerce demand over the past year due to the COVID-19 pandemic, this sector is having an amazing year. And the disruptions in supply chains have really underscored the need for additional industrial real estate across the U.S. As stated by Anthony M. Graziano, MAI, CRE, CEO of Integra Re- alty Resources, “One of the key lessons of the coronavirus crisis has been the need to re-think supply chain management with businesses supplementing traditional, 85 Springview Lane ‘just-in-time’ strategies, meant to minimize costs, with ‘just-in-case’ measures.” Summerville, SC $16 PSF NNN | 2,423 SF Per SIOR’s Snapshot Sentiment Report for first quarter 2021, there’s a steady in- The professional office suites at the crease in on-schedule transactions from 74% in Q4 2020 to 82% in Q1 2021. On- Springview Medical Office Building hold and canceled transactions continue to decline with only 6% canceled and 12% offers leasing to a variety of specialty on hold. Gregg Glime, SIOR, CCIM, Coldwell Banker Commercial Jim Stewart, practices within the Healthcare In- REALTORS, based out of Waco, Texas, says, “Our industrial market is red hot. With dustry. Current tenants include: The many new entries into Texas, vacancy rates remain low.” Medical University of South Caroli- na’s Dermatology Practice and Sum- merville Surgical Associates. Located All signs point to now being the time to invest in industrial properties, so you don’t next to MUSC’s Primary Care Prac- miss out on the opportunities for growth due to the current demand. However, be- tice and within a very short distance fore you jump right in, consider the waters. When you travel down a river, one item to the Summerville Hospital and you want to make sure you have with you is either an experienced guide or a GPS Medical Campus at the end of the street, this Class A space offers tenants device to help you navigate, avoid rapids or getting lost down a tributary. In the a unique opportunity to participate in same way, you want to make sure you have a guide to help you navigate the waters the synergy of this large medical com- of investing in industrial real estate. plex providing services to the north- ern region of the Tri-County area. Industrial real estate has three different asset types: manufacturing, storage and This unit also has an XRAY room. Please, see the brochure included in distribution, and flex space, each of which breaks off into smaller branches. additional documents. Lease offering is based on NNN terms. Manufacturing sites are where goods are produced and assembled, but these prop- erties can vary widely based on their purpose. The two most common asset types Kip Bowman | 843.437.0074 [email protected] are heavy manufacturing and light assembly. Heavy manufacturing covers plants that make heavy-duty goods and materials. They can be tens or even hundreds of Sara Bodell | 864.903.2731 thousands of square feet in size, with powerful pieces of equipment and plenty of [email protected] THE LOOP CBC Atlantic Newsletter M AY 2021 CBC Atlantic’s Month of M AY space for trucks to load product. On the other hand, light assembly spaces are usu- MARKET WATCH ally a lot smaller and simpler. These are usually where products are assembled from smaller parts, stored and then shipped to consumers. Various factors such as slab OTRANTO PLAZA RETAIL thickness, electrical specifications/heavy power, etc. can impact transactions. SPACE FOR LEASE Once a product is made, we need storage and distribution facilities which branch off into three main asset types. First is a distribution warehouse (which is primarily used to ship goods), so location matters. Next, you have general-purpose warehous- es which are focused more on storage than distribution. For most general-purpose warehouses, location isn’t a priority, however, ceiling heights and column spacing can be factors affecting transactions. Lastly, you have truck terminals, where goods are loaded from one truck to another with little to no storage space. 8780 Rivers Ave. The last main branch in industrial real estate is Flex Space. These properties live up North Charleston, SC to their name by allowing tenants flexibility in usage. Similar to storage and distri- $14 PSF NNN bution, flex space has three primary asset types. The first is Research and Devel- 1,400 SF - 2,800 SF opment (R&D). These properties can vary significantly depending on the use and tenant with plug-and-play being a sought-after feature. Next, you have data centers Otranto Plaza is a Piggly Wiggly an- where companies store the equipment that holds their data, keeps their internet up chored shopping center located at 8780 Rivers Avenue, one of the most and running, and makes cloud storage possible. Flex space average about 100,000 prominent intersections of Rivers Av- square feet but can become much bigger. Lastly, you have showrooms where more enue at Otranto Rd. This location of- than half of the space is devoted to showcasing and selling products. fers some of the highest traffic counts in the tri-county. What is the main takeaway? Is one category a better investment than another? The center offers abundant parking, Everything boils down to a detailed consideration of your use and needs to under- excellent visability and convenient stand which product type is right for you. Just remember to rely on a trusted guide access off of Otranto Road. Great to help you successfully navigate your transaction. opportunity in a rapidly developing area! CBC WORLDWIDE COMMEMORATES 115 YEARS Otranto Plaza is under new owner- ship and management with many up- There are few brands in real estate that rise to the level that Coldwell Banker does. grades planned for 2021 Not only has the name been etched on the foundation of an industry, it has sur- vived the test of time, enduring market shifts and rising strong from devastating Steve Hund | 843.990.2417 earthquakes as well as. Coldwell Banker Commercial (CBC) is part of the oldest [email protected] and most respected national real estate names in the country. The company was Brent Case, CCIM founded in 1906 after the San Francisco earthquake by Colbert Coldwell, who was 843.270.4192 joined later by Benjamin Banker. [email protected] THE LOOP CBC Atlantic Newsletter M Ay 2021 CBC Atlantic’s Month of M AY Being pathfinders has been at CBC’s core since day one when Coldwell simply MARKET WATCH sought to do right by his clients by bringing honesty and transparency to real estate transactions. One of the first things that emerged from that innovative approach VACANT LAND FOR LEASE IN was the creation of a “brokers only” standard. Ultimately, that paved the way for RAPIDLY DEVELOPING AREA new businesses to be established and set a course to success that would outlast all other brands. This year CBC commemorates 115 years in business and Coldwell’s name and the Coldwell Banker brand still stands tall and continues to grow. The mission remains steadfast, both serving as a roadmap for brokers to set up businesses across the globe and enable commercial real estate professionals to continue what Coldwell 1756 N. Main St. started in 1906. Today, CBC professionals still expertly guide clients in their jour- Summerville, SC ney to achieve outstanding outcomes by following the tenets established by compa- $70,000/AC Ground Lease ny founders. 3.33 AC - 3.40 AC High profile, strong visibility Those core values start with a passion to Do Right. That is a fundamental theme and central to Volvo and Nexton that drives CBC professionals to be real estate problem solvers who develop creative (10,000 homes, 2,000 apartments, solutions, offer sound advice and do right by clients because their success fuels the 2 hotels & 6 million SF of retail company’s success. CBC brings grit, commitment and an unstoppable energy – all and offices), Sangaree Develop- of which reflects a true business Ownership Mentality – and serves to underscore ment encompassing 21 separate sub-divisions, Carnes Cross- the outlook CBC lives by. CBC brokerage professionals reach goals, close deals roads (2 miles), and Cane Bay. and connect with people in communities because the company has found a “Win Together” approach bridges the decades. CBC’s power is in its expertise, service Integrated design ties into the and exceptional industry knowledge. Perhaps at the center of CBC’s values has new businesses, hotels and always been a Big Hearted nature. That means putting our heart and soul into the services including the growing communities we serve. After all, that is where CBC’s professionals live, work and medical presence. The oppor- lend support. CBC leaders become the experts, advocates and community leaders tunities include drive through counted on in neighborhoods, and giving back has become key to the success of the food, banking and national retail company. opportunities with signage. Ar- chitec- tural controls, cross access Rebuilding a City & Trailblazing a Brand and a flexible design to maximize quick access, ease of exit and outdoor seating with patios. The tragedy and devastation of the San Francisco earthquake in 1906 created a need for a quality organization that could rebuild the city’s real estate market.
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