Poinsett Capital acquires Spartanburg apartments

Poinsett Capital Advisors LLC of Greenville has acquired the East Ridge Apartment complex off of North Main Street in Spartanburg.  The property was acquired as part of a bankruptcy auction that was responsible for liquidating a portfolio of assets on behalf of several lenders.  The property closed on 6/27/2011 for $2,375,000 according to public tax records. Read more…

Project One breaks ground Friday

Project One will break ground Friday on the 185,000-square-foot, nine-story building that will house the CertusBank headquarters, the retailer Anthropologie and the law firm of Haynsworth, Sinkler, Boyd P.A.

The Hughes Development Corp. and CertusBank will host the groundbreaking at 1:30 p.m. at the demolished Woolworth building at Main and Washington streets in downtown Greenville adjacent to Piazza Bergamo.  Read more…

Developments stalled, but not abandoned

Naomi Doner expected more neighbors, not a fight over who will fix damaged roads in her unfinished subdivision.  Only about 30 of 146 lots at Spring Lakes in Lyman have filled, including Doner’s, as the recession-logged housing market continues to leave its mark on the Upstate.  Read more…

Industrial Building Sells for $15.87 Per Square Foot

Ministerios Casa De Dios Rafa purchased the industrial building located at 10 Lake Drive, Inman, SC on August 3, 2011 for $360,000, or $15.87 per square foot. The subject property consists of +/- 22,680 square feet on +/- 4.0 acres.

Despite Job Stagnation, Commercial Real Estate Is Still a Great Investment

The macro drivers that make investing in commercial real estate in this environment favorable remain intact even with August’s disappointing job report for several reasons.  Read more…

U.S. Commercial Property Prices Inch Up: Moody’s

The Moody’s/REAL Commercial Property Price Index increased 0.9 percent in June as repeat sales volume rose, the ratings agency reported Aug. 22. However, turmoil in the capital markets and a drop-off in commercial lending could delay significant near-term price gains.  Read more…

Surge of Federal REO Properties Hitting the Markets

As the federal government has doggedly worked through concerns about foreclosure documentation practices, federal financial agencies have aggressively resumed their sale of foreclosed properties. Read more…

Vacancy down in local commercial real estate market

Vacancy is down and net absorption is up among the industrial, flex, office and retail sectors in the Greenville-Spartanburg area’s commercial real estate market. Read more…

BMW supplier plans expansion in Duncan; will create 130 jobs

A BMW supplier revealed details about its plans for expansion into Spartanburg County on Tuesday. Read more…

Denny’s closes Duncan restaurant as lease ends

Duncan diners will have to drive a little farther to get their Grand Slam fix. Read more..