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New Construction of Commercial Buildings in Greenville County, SC Sees Demand Collapse

Source: GreenvilleCounty.org – 2024 data through July 2024

We’ve all heard things are booming in Greenville, SC and they certainly are. New subdivisions are popping up everywhere as we prepare for the great emptying of blue cities and states to the north as they make their way to the South. There are some signs that the new home construction maybe getting ahead of itself with new builds, but that cannot be said when it comes to commercial construction.

There are some large empty spec warehouses along I-85 but no doubt those will become occupied within the next 12-18 months. What I find more interesting though is the dramatic drop in new construction for commercial buildings in Greenville County. Through July 2024, there have only been 44 permits issued for commercial new construction. Let’s say this number doubles between now and the end of the year. That will still put us down about 70% compared to 2023 which was down significantly from 2022. Pretty amazing to see this data.

Commercial renovations are plugging along at a decent rate although down from 2023 by probably 15-20%. Things got kind of crazy down here with Covid and now we are digesting those gains or in some cases resetting.

Greenville is still a fabulous place to live and work. We will get through this slowdown and once again ramp up to new heights I suspect in the not too distant future.

John Murphy Cost Segregation CSSI, LLC

Greenville Experiments with Koi Pond

The City of Greenville has created a small pond with koi and goldfish. It says it’s a 6 month collaboration so I’m thinking they remove the fish before winter because it does get a little cold here in the Upstate.

Greenville, SC – Top 50 Vacation Spots – Men’s Journal

Greenville mst have a phenomenal public relations team and/or word just keeps getting out there about the area. Men’s Journal published the Top 50 places to vacation in the U.S. I’m always a little suspect of these lists but this was fun to look through.

New York Removes Mask Mandate On Subway – Is South Carolina and Florida the Loser in This News?

Photo Credit: Yahoo! News

Sorry but I can’t help but poke some fun at New Yorkers…I had no idea that those people were still under the illusion that “masks work” and that they were still required to wear them while on public transit – good grief. It’s September 2022. Apparently Governor Hochul, the replacement for the disgraced Governor Andrew Cuomo who stepped down earlier this year due to his scandals, made the decree today that masks would no longer be required. I’m sure this came after studying the science and all the studies about public health and Covid… yeah, right :).

People in the north have asked me many times…is it really that different in South Carolina from life in Minnesota, Illinois, New York, Pennsylvania….name whatever blue state you want – and yes, it’s different. And it’s been different for a long time. The people here in South Carolina are generally free. Would I like to see further elimination of some of the nonsense? Sure. But it’s magnitudes better than what you’ll find in a state like Minnesota for example.

With New York dropping their mask mandate, can we officially say that the Covid crazy policies are dying on the vine? One could hope…but then again, there’s always California.

But on second thought…we are only 2 months away from the 2022 mid-term elections. Perhaps THAT’s the science behind dropping the mask mandate on mass transit in New York?

Meet the Incoming Freshman Class at Clemson University Fall 2022

Photo Credit: Clemson University Facebook Page

Here’s a great article on the incoming freshman class at Clemson this year.

Photo: Clemson University Incoming Class of 2026

SunCap Property Group Breaks Ground on Largest Spec Building in Greenville County 1MM+ SF

Greenville County continues to see massive investment in industrial space as witness today where John Montgomery, Managing Director at Colliers in Spartanburg, SC, announced that SunCap Property Group will be building the largest spec building to date in Greenville County at 1,000,000+ square feet. You can see his post below from LinkedIn. The project will be built in phases and could see phase 1 as large as 1.5MM SF. Wow!

Here’s his listing for SunCap Property Group’s Enterprise 85 Industrial Park. Congrats to SunCap on breaking ground and John Montgomery’s team at Colliers for bringing this to the market.

The Upstate of South Carolina continues to boom for industrial real estate and draw the attention of major investors and companies. Located 90 minutes southeast of Charlotte, NC and 2.5 hours from Atlanta, GA, it’s well positioned for companies to get space at a reasonable price. The area also has the remarkable Inland Port of Greer which extends the Port of Charleston inland by 212 miles. As you discover the Upstate of South Carolina – Greenville, Spartanburg, Anderson – you may want to get to know Jim Burns and the team at the Greenville Area Development Corporation.

Rent Out Your Pool on Swimply App

Do you have a pool in your back yard that doesn’t get used all the time? Consider renting it out much like you would on Airbnb with extra space in your home. Now you can rent out your pool by listing it on the mobile app Swimply.

The Greenville Journal has a good story on renting your pools. It’s hard to know how big this market might be but it’s clearly a trend.

Chart of U.S. Dollar

Perhaps this is one of the reasons markets are in chaos. The U.S. Dollar continues to rise.

U.S. Dollar Index – $DXY

https://www.marketwatch.com/investing/index/dxy/charts

Bon Secours Folds on Vaccine Mandate – Greenville Breathes Sigh of Relief

Something must be going on….yesterday I heard that Vanderbilt University sent out communications stating that they would no longer require vaccines of their employees and students…now we see a similar statement from Bon Secours which appeared to be the last hold out here in the Upstate health care system that was requiring the Covid vaccines for employment. Something is a foot and of course they aren’t going to tell us what the real reason is behind the change of opinion.

Here’s the e-mail that went out from Bon Secours CEO, Matt Caldwell. It makes no mention of the ministry leadership as they had done in their previous communications just a couple of days ago on December 2, 2021 that stated everyone MUST get the vaccine. But Mr. Caldwell makes sure to plug his opinion that the institution believes in the importance of the vaccine but they are no longer going to require it. I wonder if there are some possible serious legal liabilities that will eventually be exposed for these companies and institutions that pushed to get their employees vaccinated or lose employment? Only time will tell. Can someone please remind me again why we should ever listen to the medical establishment when it comes to Covid and the Covid vaccines and therapeutics? While we’re at it, what else have they maybe pushed on an unsuspecting and gullible American public in terms of health care, drugs, medical treatments and procedures?

For now many in Greenville, SC are breathing a huge sigh of relief. Hopefully this will spread to other companies in the area such as Michelin and GE.

I’ll leave you with Willie Nelson and “Just Breathe.”

Afghan Refugees Coming to Greenville, Charleston via Lutheran Social Services

Apparently the federal government has already issued plans to start to distribute some 60,000+ Afghans across the United States. Lutheran Social Services will be doing the work to get 100 established in Charleston and 50 in Greenville according to the story in the Post and Courier . I don’t know if our local or state elected officials have any say in this matter. I’ll try to find out. I’m sure this is just the start.

It also appears to be their strategy to disperse them throughout the country. I’m not sure why they do that. It doesn’t make any sense to me. Fargo, ND is also taking some on and Florida is set to get 1,000. They have brought in many refugees over the years through Lutheran Social Services. I’m sure Catholic Charities can’t be far behind. I remember reading a few years ago the hundreds of millions of dollars that flow through these charities for doing refugee resettlement.

Four states have refused to take the refugees. This tells me that the other states want the money that comes along with the refugees I suspect. The four states are: South Dakota, Hawaii, West Virginia, Wyoming and the District of Columbia.

The Department of Health and Human Services says all of these refugees are fully vetted….do you believe it?