Monthly Archives: January 2015

CHS Home sales Up 18% in December

The home sales recovery continues with December home sales in the Charleston Trident area up 18% and up 20% statewide, from December 2013, according to year-end stats from the SC Association of Realtors and an article form Ashley Hefferman at SCBiz/Charleston Regional Business Journal.

BenefitFocus Opens 146k SF Office Building on Daniel Island

BenefitFocus, headquartered on Daniel Island, has opened its new building, a 146k SF Customer Success Center, the largest building yet on its 40-acre campus, according to an article by Abgiail Darlington of The Post and Courier.  The building will house some 600 software engineers, designers and technical staffers.  BenefitFocus is a cloud based human resources platform and is in the midst of a 1,200-job hiring spree.

Field and Stream Outdoor Sporting Goods Store Planned for N CHS

Field and Stream, the magazine turned retailer under the Dick’s Sporting Goods banner, wants to build a 50k SF store near Tanger Outlets and the airport in N CHS, in addition to the planned Dick’s underway in Mount Pleasant, and existing Dick’s at Citadel Mall and in Summerville.  Warren Wise has the story.

More Apartments Planned

More apartment are coming, the latest one announced a 203-unit development at Bees Ferry Road in West Ashley.  Also announced was a rather insignificant 27-unit development off Harbor View Road on James Island.  Warren Wise of The Post and Courier has the announcement.

DSW To Join Dick’s and Nordstrom Rack in Mt. Pleasant

Columbus, OH-based Designer Shoe Warehouse, aka DSW, plans a 15k SF store and will join Dick’s Sporting Goods, Nordstrom Rack, and Kitchen & Company in the revamped former KMart in Mount Pleasant, Bowman Square that is planned to be open in Q3 2015.   Warren Wise of The Post and Courier has the update.

Chaps Opens at Tanger N CHS

Chaps opened at Tanger North Charleston, at I-26 and I-526.  Warren Wise has the announcement.

CHS Industrial Space Solidly Strong, but Rents Lagging

CHS’ warehouses continue to fill up and with regional vacancy just 7.5% at year-end 2014, and down considerably in N CHS (6.9% in 2013 to 3.9% at year-end 2014), with significant demand for smaller spaces, from 15k-30k SF, all according to an article from David Wren of The Post and Courier.  Our own Colliers industrial team, led by Hagood Morrison, SIOR, and Simons Johnson, SIOR, MCR, CCIM, reports much the same with almost 400k SF of absorption in Q4 alone, strongest in Hanahan/N. Rhett and N CHS, and very little under construction (a 275k and a 140k both at Palmetto Commerce Park).  Their YE2014 Report on the CHS Industrial Market is available here.

CHS Airport Adding Carrier and Multiple Flights to FL – Tampa, Orlando and Ft. Lauderdale

Silver Airways has announced non-stop services daily (weekday) between CHS and three FL cities beginning in March.  And cheap too – with introductory flights starting at $89.  Warren Wise of The Post and Courier has the story.

MWV and Rock-Tenn Merging in $16B Deal; MWV Chemicals to be Spun Off

The AP reports, via The Post and Courier, that MeadWestvaco and Rock-Tenn Co. plan to merge and create a $16B consumer and corrugated packaging behemoth.  MWV shareholders will have 50.1% of the new company.  MWV earlier announced it would spin off its N CHS-based specialty chemicals unit which remains unchanged by the merger.  The new conglomerate, which must be approved by regulators and shareholders from each company, would maintain executive offices in Richmond and operating offices in Norcross, northeast of Atlanta, where Rock-Tenn is located.  David Wren of The Post and Courier has the story.

Update on CampusWorks Student $35M Housing Project at 930 Morrison

930 NoMo, CampusWorks $35M, 430-bed student first class student housing development will open this summer.  It will offer 2- and 4-bedroom plans with rents starting at almost $900 per bedroom (yeah, that’s up to $3,600/unit/month!).  If it helps, the project will have wi-fi and a tanning salon (for studying of course), plus lots of other amenities and, well, luxuries.  Warren Wise of The Post and Courier has the update.