this is a page for

Category: Commercial Development

Greenville Area Development Corporation (GADC) Announces Officers for 2021-2022

New officers have been named to the GADC for the coming year. Here’s an excellent article with all the information about the GADC board for 2021-2022 from Greenville Business Magazine.

The GADC has been very involved in helping respresent the Upstate to companies around the U.S. and around to world to try to get them to establish a business presence here.

Real Estate Development Outlook – North and South Carolina – Carolina Business Review

North and South Carolina are booming when it comes to commercial and residential development. As a relative newcomer here in the Upstate, it’s incredible to see the amount of investment companies are making to expand their operations or to establish and build new facilities in South Carolina. Many people are just picking up and moving here as well regardless of their employment situation. The growth here was happening before Covid, but now seems to be accelerating.

The Carolina Business Review is an excellent show produced by PBS and covers business, development and public policy affecting North and South Carolina. The video provided below is a good episode interviewing several individuals involved in various aspects of development in the Carolinas. It is a very bullish outlook and it does seem that bullishness prevails throughout the region. Areas that might cause a hiccup in the outlook include lack of skilled labor, materials cost / supply and the inability or unwillingness of local juristictions to either keep up or get ahead when it comes to infrastructure – roads, bridges, water, sewer, schools etc.

Host: Chris William

Guests include: Pat Rodgers, Rodgers Builders, Inc; Andy Andrews of Dominion Realty Partners, LLC; Dale Stigamier of LCK; Morris Lyles from SC Realtors

Southern First Bank’s New $40 Million HQ in Greenville at Verdae

Rendering: Stubbs Muldrow Herin Architects and Craig Gaulden Davis Architects

A few weeks ago I was driving along Laurens Road in Greenville heading towards Verdae. On the northeast corner at Laurens and Verdae I noticed that the land had been cleared and it was a fairly large parcel. I’d never really noticed it before because it was so hidden by trees and brush along Laurens. Turns out this is going to be the new and very impressive headquarters for Southern First Bank.

The Upstate Business Journal does a great job of talking through how Southern First Bank decided they needed a new HQ and what their plans are for the building. This will be a stunning addition to the area and seems to be a great example of some of the beautiful new buildings going up in Greenville.

172 Acre Business Park Planned for Fountain Inn

Photo Credit: McMillan Pazdan Smith Architecture / Sudler Companies
Fox Hill Business Park / Fox Carolina

The first major Class A business park development in 20 years was announced last month. The massive 172 acre development was announced by the Greenville Area Development Corporation. The development will be named Fox Hill Business Park. GADC chose New Jersey Developer, Sudler Companies to develop the property.

It’s a very impressive and ambitious plan with nearly 2.5 million square feet of development designed to meet the needs for manufacturing, distribution or warehouse. It demonstrates that there is strong belief that the growth we have seen in the Upstate of South Carolina will continue. Greenville Business Magazine’s story on the Fox Hill Business Park has a lot of excellent additional details about the development project.

Fountain Inn is within easy access to the Inland Port and GSP Airport as well as interstate 385 and 85. There is also lots of expected housing growth in the Fountain Inn area. Greenville County Schools is also building a brand new Fountain Inn High School. It’s set to open for the fall 2021 – if we ever go back to school again 🙂

NAI Earle Furman will be working with Sudler Companies to market the property.

The Future of Retail

Commercial Broker CBRE produced an excellent video nearly 3 years ago about the future of retail. It’s interesting looking back on this to see that in many respects we are still on track with their predictions and insights from late 2017.

ChartSpan Shrinks Downtown Greenville Office Footprint by 90%

ChartSpan has been and continues to be a huge success story here in Greenville so don’t let the headline fool you. The company has said that it will be downsizing it’s office space needs from the current 100,000 SF at N. Main and Washington in downtown Greenville to a new location that will be about 10,000 SF. The new space will be mostly for executives according to the ChartSpan article in the Greenville News.

The company noted that they had been looking at an option to provide for more flexible and home-based work options for their employees 6 months prior to Covid-19. But given the lock downs and challenges opening offices, they did a survey of their employees and 82% wanted to continue to work at home according to the company.

According to ChartSpan’s website, they are “the largest chronic care management (CCM) service provider in the U.S. We provide a comprehensive set of care services for Medicare beneficiaries across the country. By providing access to care services specifically designed for chronically ill patients, our team of seasoned clinical experts are able to help patients live fuller and healthier lives while also reducing their medical costs.” The company continues to do extremely well. Here’s the link to the latest news about ChartSpan.

It will be interesting to watch the transition back to opening offices not only in the Greenville area but all across the country. I have heard of other firms doing similar things. It would seem that we might see a substantial reduction in the demand for Class A office space but time will tell. Of course the landlords and brokers involved in Class A are pretty savvy so we’ll have to watch what they do and if we see much of a change in price, terms and incentives.

Spectacular New Greenville County Government Building Proposed in County Square Development

Source: Atlanta-based RocaPoint Partners Rendering May 22, 2019
37 Acre County Square Billion Dollar Development Concept – Greenville, SC

There’s a billion dollar development project going in front of the City of Greenville Planning Commission next week. This is the 37 acre area known as County Square. This seems like a very exciting developement for Greenville but some on the council are holding out for affordable housing. I’ve seen this happen across the country. I’m not sure what it is with these city councils but I guess they see that they have an opportunity to peel off some money from big developers. There’s plenty of areas around Greenville where “affordable housing” government style would fit in just fine. Stop messing with the developers. Perhaps they can pay off the council by carving out $20-$30 million for the city to go build a housing project elsewhere in the city.

Check out the video below which does a beautiful job of explaining the billion proposal. There’s no way the Greenville County Council will vote this down but it’s still up in the air on the City of Greenville Council.