April 24, 2015 UBJ

APRIL 24, 2015 | VOL. 4 ISSUE 17

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NEWS

SC unemployment rate sees modest rise to 6.7% State reports 14th month of labor force expansion STAFF REPORT

Although South Carolina’s seasonally adjusted unemployment rate inched up from 6.6 percent in February to 6.7 percent in March, the number of South Carolinians working in March increased 5,838 and reached another historic high with an estimated 2,096,110 people, according to numbers released Tuesday by the state Department of Employment and Workforce. March marks the 64th consecutive month of employment growth, DEW said.

2,096,110 number of South Carolinians working in March

Nationally, the unemployment rate was unchanged at 5.5 percent.

South Carolina’s most prominent increases between February and March occurred in the construction industry, where employment increased by 1,100. Additional gains were made in education and health services (700 more employed) and government (100 more employed).

DEW reported declines in the industries of leisure and hospitality (-2,400), trade, transportation and utilities (-1,500); professional and business services (-700); financial

Stay in the know.

“The state has the most South Carolinians working ever, 64 consecutive months of employment growth and 14 consecutive months of labor force expansion.”

MASTER CLASS IN MERGERS & ACQUISITIONS

Cheryl M. Stanton, DEW executive director activities (-500); manufacturing (-200); and other services (-200).

Compared to March 2014, seasonally adjusted, non-farm jobs were up 49,300, said DEW. The industries with the largest increases over the year were trade, transportation, and utilities (+9,300); professional and business services (+8,900); leisure and hospitality (+6,700); education and health services (+6,600); construction (+5,900); government (+5,800); manufacturing (+4,500); and other services (+1,200), the agency reported.

In the Greenville MSA, the unadjusted nonfarm employment rate in March 2015 was 394,600, representing an increase of 1,500 since February 2015, and 9,200 since March 2014.

In the Spartanburg MSA, unadjusted nonfarm employment was 140,800 in March 2015, up 300 from February 2015 and 3,400 from March 2014.

“I’m excited about today’s jobs numbers because South Carolina’s economy continues to expand,” said Cheryl M. Stanton, DEW executive director, in a statement. “The state has the most South Carolinians working ever, 64 consecutive months of employment growth and 14 consecutive months of labor force expansion.”

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| EMPLOYMENT | 3

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4 | THE RUNDOWN |

|

04.24.2015

Greenville Chamber cleans up its branding act GE cranks largest-ever gas turbine in Upstate Farmhouse beers with a modern flair

6 8 10

TOP-OF-MIND AND IN THE MIX THIS WEEK

UBJ

VOLUME 4, ISSUE 17 Featured this issue:

MONEY SHOT: GE’s 9HA gas turbine (HArriet) being aligned into its final position for testing inside GE’s validation test stand at GE’s gas turbine manufacturing plant in Greenville. Read more on page 8. Photo provided.

WORTH REPEATING

TBA

“Our approach is there were 50 brands and 70 programs, and we’re losing credit out in the market. Do we want a house of brands or a branded house?” Page 6

Asada, the popular Latin American food truck and former restaurant space inside of Mac Arnold’s Blues Restaurant, has opened its first brick-and-mortar location at 903 Wade Hampton Blvd., next door to IHOP. Lunch and dinner will be served.

“None in the economic development community took responsibility for the job losses when the plant closed by netting them out of their statistics. It’s like watching a baseball game and only keeping score for the home team.” Page 11 “Not a single [convention center] in the country makes a profit.” Page 18

Greystone & Co. sold two apartment complexes – the 152-unit The Reserve at Cavalier and the 130unit Hampton Forest, both located in Greenville – to two separate funds controlled by Monument Capital Management.

VERBATIM

On leadership “Not the cry, but the flight of a wild duck, leads the flock to fly and follow.”

Chinese proverb

UP FRONT | 5

upstatebusinessjournal.com

Winning isn’t just finishing first

By ASHLEY BONCIMINO, Staff

Community Journals writers (from left) Natalie Walters, Amanda Cordisco, Ashley Boncimino and Benjamin Jeffers after Saturday’s Goodwill Mud Run.

OFFER HELP Even if it’s not accepted, offering help builds camaraderie, support and community. Be aware of what others are doing, and pay attention for the times it makes more sense to work together than alone.

We did a terrible job of winning this weekend – “we” being the four writers who teamed up to carry the Community Journals banner in Saturday’s Goodwill Mud Run: Benjamin Jeffers, Amanda Cordisco, Natalie Walters and me.

During our 5K run, the four of us waited in line.

We were polite and let others go first. We literally gave four women a boost to climb over an 8-foot wall, forming a human staircase for each to get to the top. They crossed the finish line first.

I wouldn’t have it any other way.

See, I’ve always had a problem with races. Yes, they can test your limits. Yes, they can establish a pecking order. Yes, they can even help you improve.

But they can also be misleading. Races produce haves and have-nots, a winner and a loser, and with rare exceptions, a black and white, succeed-or-fail mentality.

Besides being just plain discouraging, such a mindset can be damaging and dysfunctional in the real world and in business. Only in extreme cases – monopolies, for example – does a single winner succeed at the expense of everyone else. Even in cases of direct competition for contracts, for example, one

So here’s what the four of us learned while slogging through 5 kilometers of mud, woods and water last Saturday:

GIVE THE TIME If your offer is accepted, be prepared to give the time necessary. Not only is this great karma for you and your network, it can make a world of difference for the person you’re offering support. For that team of women, we were the difference between triumphing over an obstacle and skipping it as “too hard.”

I’m proud we could help someone else take full advantage of the day. company cannot win every single contract out there.

There is no one winner or one loser.

One of the best things about startup and entrepreneurial communities is that people help each other. It doesn’t cost me anything other than a cup of coffee to help someone brainstorm, or send an introductory email. All it can do is build your network and give someone else the chance to succeed and breed success down the line.

ASK FOR HELP YOURSELF Push that pride aside and seek help when it makes sense. This goes into the smarter, not harder, category. You gain nothing by doing it alone when a helping hand will get you there faster. I needed my team on Saturday: At a vertically challenged 5’2”, I can hardly reach the lowest of monkey bars. Asking for help – and finding others willing to offer a boost – is all it takes to cross that finish line muddy but unbowed.

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6 | CHAMBER |

UBJ

NEWS

|

04.24.2015

Greenville Chamber rebrand takes aim at fragmented image ASHLEY BONCIMINO | STAFF

aboncimino@communityjournals.com

OLD BRANDS

Some of the many logos that represented the Greenville Chamber’s 50 brands and 70 programs.

With 50 brands and 70 programs, the Greenville Chamber of Commerce is in danger of fragmenting itself into irrelevancy, according to Marion Mann, its senior marketing manager.

“We had the Lead brand, then Next, then Capacity, then diversity and inclusion and others … and it wasn’t tying back to the chamber,” said Mann, who said even some chamber members, advocates and participants have trouble describing the chamber’s core value. “A lot of good things start with conversations here at the chamber, but whether it comes back that the chamber did it is the question.”

For example, the chamber spent more than $1.1 million on programs and initiatives in 2013, according to its U.S. Department of the Treasury documents.

But without recognition for those programs, the chamber can seem irrelevant if people don’t connect the dots, she said.

Now, after months of research and planning, the chamber is gearing up for its second rebranding campaign in 10 years aimed at clarifying the organization’s mission, activities and ultimate value to Greenville. But unlike the 2008 campaign, this year’s effort, which officially launches April 24, will include structural and organizational changes alongside a visual facelift and newly crafted statements.

TOO MANY BRANDS “The 2008 rebrand was literally just a logo change and maybe a refresh of the vision and mission statements,” said Jennifer Sutton, founder of Greenville marketing firm Bright+Co, hired by the chamber for the rebrand. “Our approach is there were 50 brands and 70 programs, and we’re losing credit out in the market.

Do we want a house of brands or a branded house?”

To cut down on the confusion, Mann and Sutton plan to “de-brand” the vast majority of the chamber’s existing programs and place each under one of five “bucket” categories: Advocacy, Business Growth, Diversity & Inclusion, Economic Competitiveness >>

NEW LOGO

Along with a new logo, the Greenville Chamber is streamlining its brands to clarify the organization’s mission, activities and ultimate value to Greenville

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>> and Leadership Development.

While some programs are too established to change the names of – Next, for example, said Sutton – most will get a new name that “simply says what they do,” said Mann.

Mann said the structure for membership costs will also change from one based on number of employees to the level of services businesses want to have. Rather than charging a business more for wanting to grow and add employees, she said, different levels of memberships include different programs, sponsorships, research services and occasional office space, for example.

MEASURABLE MISSION The vision and missions statements were also rewritten to be more concise, measurable and actionable, said chamber President and CEO Ben Haskew, who has been with the organization through other rebranding efforts.

“It’s been a little hard to navigate the chamber, and this begins to present a more uniform message of what the driving programs and initiatives are in the chamber,” he said. “The community changes, the leadership changes, the business member makeup of the chamber changes … there’s enough change that it warrants a revisiting of some of the core elements of who we are.”

The old mission and vision state-

NEWS

“The community changes, the leadership changes, the business member makeup of the chamber changes … there’s enough change that it warrants a revisiting of some of the core elements of who we are.”

Ben Haskew, president and CEO of the Greenville Chamber

Gaffney Medical Center and Mary Black Memorial Hospital have united to form a combined health system to be known as Mary Black Health System – Gaffney and Mary Black Health System – Spartanburg. Affiliated physician practices will be identified as Mary Black Physicians Group.

Leadership and operations at the Gaffney hospital will not be changed, a spokeswoman told reporters. The current owner of Mary Black Memorial Hospital, the Franklin, Tenn.-based Community Health Systems Inc., acquired Gaffney Medical Center in November 2014.

“We are excited about our future as a new health system,” said Joshua Self, chief executive officer at Gaffney Medical Center. “Working together we can better serve the health care needs of the broader region, increasing

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ments were to build one of the premiere business communities in the world, said Haskew, which is harder to visualize and measure. The new statement is aimed at continually improving the quality of life in Greenville by building and advocating for the business community.

That doesn’t mean things will be easy, he said. Many programs to be de-branded were born through ideas from staff and volunteers, many of whom have put years into growing and improving each. Further, redefining the chamber’s statements can be difficult to adapt to, he said.

“Human nature is you wouldn’t go through this kind of change if you don’t have to, but the fact of the matter is it’s healthy,” he said. “It’s fun in some ways and it’s painful in other ways. …

While it’s different, I think it still confirms who we are.”

Gaffney hospital joins with Spartanburg’s Mary Black STAFF REPORT

| HEALTH CARE | 7

access to services, improving coordination of patient care and leveraging our investments in recruiting new physicians to the market.”

While the hospitals will continue to operate as two individual facilities, they will “share best clinical practices for quality care, achieve operational efficiencies, enable the expansion of important services and expand access to primary and specialty care,” according to a statement. The combined system has 332 licensed beds, more than 1400 employees and more than 400 physicians on medical staff.

“Aligning the names of our facilities and physician groups into a single identity makes it easier for the community to recognize our strengths and shared commitment to the communities we serve,” said Sean Dardeau, chief executive officer for Mary Black Memorial Hospital.

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8 | ENERGY |

UBJ

NEWS

|

04.24.2015

DO YOU HAVE WHAT IT TAKES TO RETIRE? WE HAVE WHAT IT TAKES TO TELL YOU. Photo provided

GE’s 9HA gas turbine (HArriet) entering the validation test stand at the company’s gas turbine manifacturing plant in Greenville.

Upstate facilities key to GE’s industrial overhaul 433-ton gas turbine tested in Greenville can power 600,000 homes ASHLEY BONCIMINO | STAFF

aboncimino@communityjournals.com

After selling the bulk of its

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finance arm, GE’s pivot to industrials depends in part on what happens in Greenville.

Not only will Greenville-built 7HA.01 and 7HA.02 turbines be the “bread and butter to come” for the company, but Greenville’s testing facilities put GE’s newest turbine through its paces this spring, according Andrew Lammas, vice president of engineering for GE Power & Water Power Generation.

The 433-ton gas turbine can power 600,000 homes and is scheduled to enter commercial service next year.

The new unit – the 9HA.01 – is part of the company’s high-efficiency, aircooled gas turbine HA-class that has been seeing more and more demand, Lammas said.

“Going forward, H machines should make up most of our revenue,” he said during an interview at GE Power & Water’s 413-acre Greenville campus.

The company announced hitting 16 orders on the books for HA turbines in April with interest for 53 more, up from 15 orders and 45 at the end of 2014.

Countries making HA selections increased from nine to 11, and now include those in North America, South America, Europe, Asia and the Middle East.

GE Power & Water was the company’s largest non-capital segment in 2014

with $27.6 million in revenue, equal to 25 percent of its total industrial segment revenues or almost 19 percent of its consolidated revenues, according to its annual report. The segment accounted for 30 percent of the industrial segment’s profit, however.

The Greenville campus also includes its $200 million test facility, which Llamas said competitors will have no choice but to emulate as it allows the company to evaluate turbines beyond normal power plant field conditions.

According to the company, 200 hours in the test facility is more valuable than 500 units running in the field for a year.

Nearly 5,00 sensors and instruments can collect several terabytes of data.

Despite the expense of building and running Greenville’s testing facilities – which can have gas bills of up to $6 million, he said – GE’s competitors will have no choice but to follow suit to remain competitive, Lammas said.

Hard-won gains in both output and efficiency are driven by predictions for increasing global demand for cheaper, more reliable power, he said. Gas turbines can be built in less than six months, and are a more efficient use of land and capital than other energy sources, he said.

Bloomberg reported GE accounted for 51 percent of the gas turbine megawatts ordered globally last year, ahead of 23 percent sold by Siemens, 13 percent by Mitsubishi and 7 percent

by Alstom.

upstatebusinessjournal.com

NEWS

| WORKPLACE | 9

LiveWell recognizes healthy workplaces At its Healthy Workplace conference

Workplace wellness programs can decrease health care costs, increase productivity, reduce absenteeism and boost employee morale, according to LiveWell Greenville’s At Work group. Companies may see more than $3 saved for every $1 invested in a wellness program, the group says.

The 2015 Healthy Workplace winners are:

Gold GE Energy Greenville Health System Pelham Medical Center ScanSource

QUALITY

Photo by Greg Beckner

and cocktail reception at Greenville’s TD Center Thursday afternoon, LiveWell Greenville handed out its third annual set of Healthy Workplace awards, honoring a dozen local companies for their employee wellness initiatives.

Silver Baldor The Blood Connection Bon Secours St. Francis City of Greer City of Greenville Hartness International Legacy Charter School Michelin Rosenfeld Einstein Southern Weaving

VALUE

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10 | RETAIL & HOSPITALITY |

UBJ

NEWS

|

04.24.2015

Birds Fly South Ale Project to feature farmhouse-style brews brewery with the help of Thomas Creek Brewery and Saint Somewhere Brewing, Johnson said. A small crowdfunding campaign to raise funds for purchasing the first group of barrels was successful and Johnson said he would again be seeking funding when he moves into full-time brewing.

The farmhouse style of beer is very popular in the west and a bit on the fringe locally, he said, but the trend is moving east. It appeals to seasoned craft beer drinkers and wine drinkers because of the fruit, sours and strong flavor profile. The flavors vary with each batch, but the quality should be there, he said.

“People demand quality and they’re going to want a [local] connection.”

APRIL A. MORRIS | STAFF

amorris@communityjournals.com In the long Belgian brewing tradition, many farmers spent the cold months brewing beer for the summer that used seasonal fruit, local ingredients and local yeast – and that tradition continues worldwide. Greer resident Shawn Johnson is brewing in this tradition and launching the Birds Fly South Ale Project focused on creating farmhouse-style beers “with modern flair.”

Johnson, who learned first as a homebrewer and then as a volunteer at Saint Somewhere Brewing in Florida and at Fairwinds Brewing in Washington, D.C., uses an open fermentation process that not only features yeast he cultures and adds, but also the wild yeast in the air, he said. Learning this method “opened my eyes to that type of brewing and I fell in love with it,” he said.

His brews will be aged in prepared wooden barrels using the solera method, said Johnson. Often used with sherry, vinegar and rum, the method combines older and newer product on a rotation: the barrel-aged beer is divided and newly fermented product is added to top it off and aged further. “Every six months we plan to double our barrels,” he said. Some varieties will be aged as long as three years.

Varieties like Brand New Eyes dry-hopped tart saison, Rustic Sunday rye saison and Rumblefish

DEFINED: Farmhouse (saison) style Photo Provided

hoppy saison farmhouse pale ale will be ready for consumers as early as this summer.

Johnson, who now works full-time in Greenville as an aviation engineer with the U.S. Coast Guard, plans to ramp up production quickly after he retires.

He and his wife, Lindsay, are seeking a space in the brewery frontier of downtown Greer. “We’re actively looking for real estate right now,” he said.

Birds Fly South is initially launching as a contract

Craft beer experts say farmhouse style is notoriously difficult to define because it is considered a wide-open style.

According to Michael Ludwig of CraftBeer.com, it yields “a slightly funky, yeast-forward beer … a style that varies greatly from region to region, even within breweries in the same region.”

Craft Beer.com also says a Belgian-style saison “may have Brettanomyces [yeast] or lactic character, and fruity, horsey, goaty and/or leatherlike aromas and flavors. Specialty ingredients, including spices, may contribute a unique and signature character.”

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MOVERS, SHAKERS AND DISRUP TORS SHAPING OUR FUTURE

| INNOVATE | 11

The world isn’t flat, it’s spiky All places are not equal – to keep companies here, the Upstate needs to develop its entrepreneurial ecosystem

By JOHN WARNER, publisher, Swamp Fox

Thomas Friedman asserted in the mega best-seller, “The World is Flat,” that: People in more places can now compete, connect and collaborate with equal power and equal tools than ever before. That’s why an Indian in Bangalore can take care of the office work of American doctors or read the X-rays of German hospitals.

Low-skilled workers have definitely felt that pain. Ironically, many people in the Upstate who actually read the book are most exposed to an entirely different threat described by Richard Florida in his article “The World Is Spiky”: Ideas flow more freely, are honed more sharply, and can be put into practice more quickly when large numbers of innovators, implementers and financial backers are in constant contact with one another, both in and out of the office. Creative people cluster… because of the powerful productivity advantages, economies of scale, and knowledge spillovers such density brings.

Ironically, the flatter the word becomes, the more local ecosystems matter.

ChartSpan produces one of the most-downloaded health care apps in the iTunes store. Emerging from the Iron Yard, the company announced almost $2 million in new investment to build the firm’s engineering, distribution and marketing teams in Greenville.

So far, so good. But most of that money came from out of state, and if the company continues to grow and require more capital, its leaders will find it hard to resist the siren call of out-of-state investors luring them to a place with a greater density of dollars and talent, like so many startups before them.

The Upstate can help the brightest stars like ChartSpan stay here and thrive if we focus on developing a robust entrepreneurial ecosystem with the talent and capital they will need.

There has been $250 million invested in the Clemson University International Center for Automotive Research, which at any time has 200 of the best graduate engineering students from around the world. The problem is 75 percent of them leave when they graduate to pursue a career in Detroit or somewhere else. If you’re MIT or Stanford you have an excess of best and brightest you can export far and wide, but we need to figure out how to retain more of the top talent we have so we build a critical mass here.

The Upstate can help best and brightest graduates stay here by ensuring we have their best career opportunities here. For those graduates who take leadership positions around the world, we need to keep up with them to help all of us succeed.

While CU-ICAR graduates are leaving, Faurecia closed its Spartanburg branch plant, laying off 150 workers to “restructure its manufacturing resources.”

It was relatively easy for someone far away to decide to close one of 274 production facilities in the world that was superfluous.

None in the economic development community took responsibility for the job losses when the plant closed by netting them out of their statistics. It’s like watching a baseball game and only keeping score for the home team. the plant closed by netting them out of their statistics.

It’s like watching a baseball game and only keeping score for the home team.

Corporate executives and academic researchers have extensive and valuable global relationships.

Economic developers need to understand the types of facilities that it would be in the corporations’ and universities’ enlightened self-interest to share their relationships to help attract. This would make the corporations and universities more productive and innovative by developing a deep base of globally competitive talent, which is the raw material to fuel the next startup companies that will attract capital to the Upstate.

The world isn’t flat, it’s spiky. Highly innovative communities don’t occur evenly around the world.

They occur in places with robust local ecosystems

Highly innovative communities don’t occur evenly around the world. They occur in places with robust local ecosystems like Silicon Valley, Austin, Boston and Tel Aviv, all anchored by one or more top-ranked research universities, which attract and develop deep talent for the local ecosystem.

Years ago when a Faurecia branch manufacturing facility was recruited here, economic development organizations took credit for “jobs created.” Though the company has 30 research and development centers around the world, we weren’t able to sink their roots by attracting any of their higher value-added activities to the Upstate. None in the economic development community took responsibility for the job losses when

like Silicon Valley, Austin, Boston and Tel Aviv, all anchored by one or more top-ranked research universities, which attract and develop deep talent for the local ecosystem.

We all need the same rallying cry to continue to develop the Upstate’s economy: Focus on the talent! Focus on the talent! Focus on the talent!

athome

BEHIND THE COUNTER

SPRING 2015

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27, 2015 • Vol.17, No.9

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FOCUS ON COMMERCIAL REAL ESTATE

UBJ

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04.24. 2015

THE FURMAN CO., A GREENVILLE-BASED COMMERCIAL REAL ESTATE COMPANY, ANNOUNCED THIS WEEK that plans to purchase and redevelop the Port Royal Terminal in Beaufort County have fallen apart.

“The Furman Co. Investment Advisory Services LLC, in conjunction with co-developer Chaffin Light, met with the SC State Ports Authority this week to advise that its contract to purchase the former Port Royal Terminal would expire prior to completion of the due diligence that we deem necessary in order to proceed to closing,” said president Steve Navarro in a written statement. “We are still very interested in the unique opportunity to re-engage the Town of Port Royal with its waterfront by the development of this property. At such time as the Authority seeks new offers, we intend to pursue a continuation of our efforts.”

The Post and Courier reported that the State Ports Authority has about two more months to line up a buyer for the 317-acre site which includes 52 developable acres on Battery Creek.

“It became apparent that the time allowed by the contract to complete due diligence would expire with some of the purchaser’s requirements incomplete, leaving the purchaser unable to proceed to closing under the terms of the contract,” said the SPA in a written statement.

WITH THE PENDING MOVE OF THE GARY PLAYER GROUP’S HEADQUARTERS TO THE FORMER BEATTIE HOUSE IN DOWNTOWN GREENVILLE, The Cliffs has purchased a 12,500-square-foot property on Highway 11 from Stewart Spinks to serve as its new Welcome Center and home for its Mountain Regional Sales Team.

In turn, The Cliffs has leased its office at 22 S. Main St. to the Player Group to serve as a transitional space.

The new Welcome Center will have meeting areas, private event spaces, a demonstration kitchen for member cooking classes and a wellness center for members, all of which will be available in 2016.

Rendering Provided.

12 | COVER |

1

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Choose entity carefully for your real estate venture Sole proprietorship, LLC, C-corp, S-corp?

Your choice will have long-range impact on your tax strategy

By DONNA MILLAND and MARK COOTER, Cherry Bekaert LLP The type of entity you choose for your real estate venture will have a long-range impact on the tax strategies available during the project’s life cycle. CPAs and attorneys regularly advise clients concerning the most strategic entity for a real estate endeavor. This choice is very important, as the proper entity will provide legal protection, tax savings and maximum operational flexibility.

Business owners usually use one of the following structures to operate a business: • Sole proprietorship • Single member limited liability company • C-corporation • S-corporation • Partnership and multi-owner LLC SOLE PROPRIETORSHIP: Many people own real estate as an individual, or jointly with a spouse. The income earned from the real estate is reported on the taxpayer’s individual tax return, including any gains from the sale of property. The advantage to individual ownership includes simplicity, control and the ability to make all property management decisions. The disadvantage is unlimited personal liability. If you choose to own title to your real estate individually, be sure to consult with an attorney about potential liability and title issues and carry adequate property and casualty insurance.

SINGLE MEMBER LLC: A single member LLC (SMLLC) provides the advantages of a sole proprietorship and, when properly managed, the legal protection that a sole proprietorship cannot. An SMLLC has the same tax impact as a sole proprietorship, being disregarded for tax purposes and reporting all income on the individual’s tax return.

C-CORPORATIONS: Real estate can be owned in a C-corporation, which limits legal liability protection to its owners. A C-corporation is an entity existing independent of its owners and follows a formal legal structure. Unfortunately, C-corporations are burdened with “double taxation,” where the business pays tax on income earned inside of the corporation, and again when the cash is distributed to the shareholder. In general, it is not recommended to own real estate in a C-corporation due to double taxation and administrative complexities associated with corporate legal structure.

S-CORPORATIONS: A solution to the double taxation burden associated with C-corporations is to elect to treat the corporation as an S-corporation for income tax purposes. An S-corporation provides the limited liability of a C-corporation, and – unlike a partnership – allows the shareholders the ability to take distributions tax-free, and deduct certain fringe benefits (with limitations for 2 percent or greater shareholders).

An S-corporation avoids double taxation, passing income items to the owners to report on their individual returns at their individual tax rate. An S-corporation can also limit potential exposure to self-employment taxes, because self-employment taxes are imposed only on the salary the owner receives as an employee of the corporation and not on allocations of income, as may be the case with a partnership structure.

However, there are also disadvantages to owning real estate in an S-corporation. These are due to the limitations placed on the entity structure. First, the number of shareholders is restricted and only one class of stock is allowed. Also, S-corporations limit the manner in which income can be allocated among multiple owners and taxes the distribution of certain assets from the entity.

PARTNERSHIPS (GP, LP, LLP AND MULTI-OWNER LLCS): A partnership is the most commonly used entity in

real estate ownership. Partnerships pass income earned to the partners to report on their returns.

They also offer a multitude of planning opportunities, allowing enormous flexibility in partnership formation, the ability to specially allocate items of income, deductions and credits, and the availability of multiple exit strategies.

Concerning liability exposure, protection is available to LLC members and limited partners, but general partnerships expose the general partners to unlimited liability. Partnerships also allow partners to contribute property to the partnership on a tax-free basis, and the partnership can distribute property to the partners without gain recognition. This is in contrast to C-corporations, where distributions are a taxable event.

SERVICE COMPANIES (PROPERTY MANAGEMENT AND DEVELOPMENT): All of the entities discussed above can be used to operate a real estate service company. However, a property manager and a developer are considered to provide a service and therefore the business owners are exposed to the imposition of payroll taxes (Medicare and Social Security) on their share of partnership income.

Service providers may utilize a C-corporation or S-corporation to minimize this exposure.

CONCLUSION: The choice of entity cannot be made in a vacuum. There are many issues independent of the tax impact that should also be considered – the type of activity to be conducted, cash availability and use of leveraged debt, and retirement and estate considerations. A well-considered entity choice can save you many dollars if it allows tax savings strategies and protects against legal liability issues.

Donna Millard is a senior manager with Cherry Bekaert and a member of the firm’s Real Estate and Construction industry group. Mark Cooter is a tax partner and managing partner of Cherry Bekaert’s Upstate practice.

PLANNED GIVING FOR PAYING IT FORWARD From the Kroc Center to Greenville Forward, Jean Harris Knight’s legacy gift to the Community Foundation helped establish programs dedicated to improving Greenville’s future.

We make it easy to give back to the place we all love to call home.

www.cfgreenville.org

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Photo Provided

Case study: Ponce City Market

The success of an Atlanta development – and what it means for Greenville

By CHANDLER L. THOMPSON, Master of Real Estate Development, Clemson University Imagine breathing new life into a 1926 former Sears & Roebuck Company warehouse, office and retail location. That’s exactly what Jamestown, a real estate investment and management company, did when they bought the 2.1 million-square-foot property from the city of Atlanta in 2011. Called the largest adaptive reuse project in Atlanta’s history, Ponce City Market has transformed the Old Fourth Ward neighborhood and become the catalyst for redevelopment and investment in the area.

HISTORY Sears & Roebuck occupied the building from 1926 until 1987, when they closed the doors of the regional office. The city of Atlanta bought the property in 1990 and transferred hundreds of fire and police employees to the new City Hall East. When the city

discontinued use of the building in 2010, it became a prime redevelopment site in Atlanta.

REDEVELOPMENT After buying the property in 2011, Jamestown spent three years redeveloping Ponce City Market into one of Travel and Leisure’s 25 “Coolest New Tourist Attractions” and a true mixed-use development. There are retail shops, office space, the Flats at Ponce City Market and the Central Food Hall, similar to the legendary Chelsea Market in New York City, which Jamestown also owns.

The Central Food Hall is the epicenter of activity at Ponce City Market, bringing visitors, employees, residents and commuters together in a culinary gathering place. The Food Hall is a mix of dine-in restaurants and market stalls that offer food to go and goods like fresh bread, cheese and meats. The Central Food Hall offers everything from the Simply Seoul Kitchen to Honeysuckle Gelato to Dancing Goats Coffee Bar.

RETAIL AND RESTAURANTS The redevelopment project has become a destination for high-end retail and restaurants, and a hub for innovative and creative office space. Williams-Sonoma, J. Crew, West Elm and Madewell are just a few of the national retail tenants calling Ponce City Market home. The Frye Company, a popular boots and leather goods company, has opened its first Atlanta location there.

OFFICE SPACE Adding more than 450,000 square feet of new office space to Atlanta and the Old Fourth Ward, Ponce City Market has attracted office users including AthenaHealth, a cloud-based electronic healthcare records company with more than 145,000 square feet; the SLAM Collaborative, a distinctive and innovative architectural firm; and howstuffworks, a popular source of answers and explanations in Web, application or podcast form.

upstatebusinessjournal.com

RESIDENTIAL With more than 250 apartment units built in the first phase of the development, the Flats at Ponce City Market make this a 24-hour place. Apartment sizes range from studios to three-bedroom units and offer modern living in harmony with history. Aside from the Central Food Hall, the offices and the retail, the Flats at Ponce City Market has a rooftop garden that allows for expansive green space and even includes a mini golf course.

ABOUT THE PROGRAM The Clemson Master of Real Estate Development is a two-year, 60-credit, full-time joint degree between the College of Business & Behavioral Science and the College of Architecture, Arts & Humanities with required classes in MBA/Finance, Law, Construction Management, Architecture, City & Regional Planning and Real Estate Development.

FOCUS ON COMMERCIAL REAL ESTATE

The entire project is adjacent to Atlanta’s Beltline, a walking and biking trail built on a former rail line that runs through the heart of the city, providing easy access to transit and recreation. Jamestown is even committed to green standards, pursuing LEED certification for the building core and shell, the commercial spaces and the residences.

LESSONS FOR GREENVILLE With the first tenants and residences moving into Ponce City Market in summer 2014, the project has garnered lots of attention for its inventive reuse of the 1926 structure, its attraction of high quality office and retail tenants and its addition of a Food Hall to the Atlanta market. So, what makes this project such a success, and what does that mean for Greenville?

One of the unique things about Ponce City Market is the Central Food Hall. With the intention to create a food hall among the ranks of Chelsea Market, Pike Place in Seattle and Ferry Station in San Francisco,

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Ponce City Market has brought together the best of Atlanta’s food scene to create an atmosphere like no other. With its own vibrant foodie scene, Greenville could take a page out of Ponce City Market’s book and create a food destination of its own.

Greenville is fortunate to have the GHS Swamp Rabbit Trail as a mode of transportation and recreation. Though the Beltline sees more than a million users annually, the Swamp Rabbit Trail has half a million users annually, in a city much smaller than Atlanta. As Greenville continues to grow, the Swamp Rabbit is a great catalyst and resource for development, providing a means of transit, exercise and leisure for those properties around it.

Another great lesson Greenville can learn from the Ponce City Market is the adaptation of structures in historic neighborhoods. Ponce City Market has been widely recognized for its innovation in reuse, and the history that is retained in the project adds character to the existing fabric of Atlanta’s Old Fourth Ward. Much like Greenville’s Historic West End, the Old Fourth Ward is a neighborhood thriving on redevelopment. Mixing new builds with adaptive reuse will add character to Greenville’s neighborhoods and create authentic places that are unique to Greenville.

Ponce City Market is a shining example of transit-oriented, mixed-use redevelopment in Atlanta, and studying the successful aspects of integrating history and modern living allows Greenville to take the best parts of the project and bring them home.

Strong local knowledge and talent National perspective and resources The Greenville office of Jackson Lewis is highly regarded for its employment litigation practice, its prominent national ERISA practice, and its sophisticated wage and hour FLSA work. An integral member of the Jackson Lewis team is Chris Lauderdale. Chris has been actively engaged in the practice of labor and employment law on behalf of employers throughout his entire 24-year career. His practice is substantially focused on defending class and collective action litigation arising under state and federal wage laws having defended more than 50 such multi-plaintiff actions in the past 5 years. Chris has extensive experience advising and representing clients in collective bargaining, representing clients before the National Labor Relations Board, representing clients in labor arbitration, and advising clients during union organizing attempts and corporate campaigns. He also regularly assists clients with immigration compliance under federal and state law. Chris has represented employers and trade organizations before various state and federal administrative agencies, state and federal trial and appellate courts and the United States Supreme Court.

To learn more about the services we offer in Greenville, please contact Chris Lauderdale or Office Managing Shareholder Stephanie Lewis at (864) 232-7000 or lauderdC@jacksonlewis.com; lewiss@jacksonlewis.com.

With 800 attorneys practicing in major locations throughout the U.S. and Puerto Rico, Jackson Lewis provides creative and strategic solutions to employers in every aspect of workplace law. To learn more about our services, visit www.jacksonlewis.com.

Greenville Office of Jackson Lewis P.C. 15 South Main Street • Suite 700 Greenville, South Carolina 29601 • (864) 232-7000

Conference center is the right choice for downtown Carole Sox worked within the meetings industry before pursuing her Ph.D. from the University of South Carolina, where she is now an adjunct professor teaching in the School of Hotel, Restaurant and Tourism Management.

As the process of determining if a convention center or a conference center will be added to downtown Greenville, the intended use of the future facility must first be addressed. Currently, the needs of downtown Greenville are being assessed through a feasibility study sponsored by the city in conjunction with Greenville County and VisitGreenvilleSC. As these needs are further defined, the results will greatly assist if not determine the direction of which type of venue will be most beneficial and financially advantageous for the area.

The focus of encouraging more corporate events within downtown Greenville has been mentioned, and if these types of meetings remain to be the focus, the idea of a conference center is certainly an appealing option.

Conference centers not only cater to smaller groups (averaging about 75 people per meeting) but they typically offer higher-quality amenities and services, and have specialized and dedicated teams to assist with meetings and conferences.

In addition, at least 60 percent of their space is committed to meetings and conferences. Many also offer all-inclusive pricing packages including space, catering and technology use, which tends to be attractive to most planners. As businesses continue to be cautiously optimistic, these pricing packages are ideal for budget planning.

With the TD Convention Center continuing to offer a facility located outside of downtown Greenville for hosting larger events, a conference center may be just the solution needed to attract corporate meetings and events to downtown Greenville. As the pros and cons of a convention center versus a conference center are weighed to make the best decision for downtown Greenville, either option would add jobs to the area, offer increased exposure to Greenville, and could provide a positive economic impact to the area as more meeting attendees meet, stay, shop and eat within the city.

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the difference has to do with the type of meetings held a panel discussion to talk about the possible held at the venue. Convention centers are typically implications of a downtown conference center in larger venues that can house consumer-type events, Greenville. The consensus: Yes, Greenville needs to drawing from the local market, such as home and look at locating a conference center downtown to garden shows, boat shows and RV shows. Conference draw more business-focused people from out of the centers are smaller venues focused on business, area who will eat at restaurants, shop in retail stores organization or industry-specific events. and stay at hotels.

“Financially, it wouldn’t work” to simply build a Earlier this year the city of Greenville joined with hotel at the TD Center, said D.J. Rama, president Greenville County and VisitGreenvilleSC to issue a of JHM Hotels, as the area is unlikely to fill the request for proposals for a feasibility study to be hotel rooms for the periods when there aren’t conconducted for a possible downtown convention ferences booked.

Meeting planners, who book center. The current facility, the TD Center, is large but the conferences and hotels, are PANEL MEMBERS looking for venues of at least lacks an anchor hotel and • Bob Hughes, president, Hughes nearby attractions that attract 100,000 square feet that can Development Corp. meeting planners when supply the number of hotel • Chris Stone, president, booking conferences. rooms they require; with VisitGreenvilleSC Bids were due March 19 restaurants, retail and attractions nearby; located in a from “qualified professional • D.J. Rama, president, JHM Hotels firms or individuals to conduct popular enough destination • Dr. Bob Taylor, Greenville County a comprehensive market that people would be willing Council Chairman demand analysis and evaluato travel there, Stone said.

• Knox White, Mayor, City of tion of the potential of conProximity to nearby attracGreenville structing a new convention tions is important because facility in the Downtown area.” convention centers alone don’t Four companies responded to the RFP and are make money, said Ken Betsch with Betsch Associcurrently being evaluated. ates, a Greenville architectural firm that has designed conference and convention centers around the “I think the most important thing that will come out of [the RFP study] is the demand analysis. What country. is our opportunity? What is our potential?” said “Not a single one in the country makes a profit,” Chris Stone, president of VisitGreenvilleSC. Betsch said. “But they bring people to the community to eat at the restaurants, shop in the shops and do other entertainment in the city.”

“We need to be careful that we don’t get into City records show the TD Center finished last year a situation where locals can’t get into with a $454,134 loss that the city subsidized.

restaurants and can’t get a parking place and they don’t want to go downtown anymore.”

Bob Hughes, president of Hughes Development Corp

CONVENTION VS. CONFERENCE CENTER – WHAT’S THE DIFFERENCE? The terms “convention center” and “conference center” are often used interchangeably, but event planners say

FINDING THE SWEET SPOT Business panel members agreed size and location will be the most important factors in this discussion.

Greenville needs to find and focus on its “sweet spot” and avoid killing off the convention business that’s already here, Stone told the group.

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POSSIBLE DOWNTOWN LOCATIONS

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According to the city, the requested evaluation should include (but is not limited to) sites adjacent to:

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It’ll be important to have someone who is willing to say ‘No, you don’t need a new building downtown.’”

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The book “Convention Center Follies” by Heywood T. Sanders “deflates overblown calims that convention centers will contribute to urban economic development and explains why city leaders so easily succomb to these claims,” according to one reviewer. bit.ly/convention-center-follies

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“It’ll be important to have someone who is willing to say ‘No, you don’t need a new building downtown.’”

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Greenville must weigh the possibility of keeping the TD Center and building a new conference center, Stone said. A key question to ask, he said, is “can a destination like this afford two buildings?”

Betsch said it’s equally imperative “to make sure that the building is built to the market it’s trying to serve, [to] determine what you’re trying to attract and that it can change depending on meeting requirements.

GETTING IT RIGHT “Most cities don’t get it right. They’re full of convention centers that have killed off areas of their cities,” said Greenville Mayor Knox White. “We’re not going to find a lot of models around the country of cities that got it right. It’ll be important to make sure we get the size right, get the location right – that it fits Greenville, that it’s realistic and fits the mixeduse environment that we have here.”

Transportation is another key factor to evaluate, Betsch said. Every city has its strengths and weaknesses, and one of the weaknesses in Greenville is transportation.

Stone cited Chattanooga, Tenn., and Raleigh, N.C., as two cities that have “gotten it right.” But there’s no reason why we can’t be innovative and creative and “do something that hasn’t been done,” he said.

Greenville needs more capacity downtown, but “we need to be careful that we don’t get into a situation where locals can’t get into restaurants and can’t get a parking place and they don’t want to go downtown anymore, ” cautioned Bob Hughes, president of Hughes Development Corp.

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• Often recurring, scheduled at specific times each year • Usually have keynote speakers • Feature presentations that familiarize attendees with advancements or trends in field Source: evenues.com

An evaluation committee is currently reviewing the RFPs that were received, and will determine whether to award the contract or reduce it to a short list and conduct interviews. No timeframe has been set for that process.

“This consultant is going to have quite a job to do,” said Mayor White.

“Most cities don’t get it right. They’re full of convention centers that have killed off areas of their cities.”

Greenville Mayor Knox White

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Greenville’s City Park lures townhome development SHERRY JACKSON | STAFF sjackson@communityjournals.com @SJackson_CJ

all areas of Greenville, some developers are banking on the much-anticipated proposed City Park, a.k.a.

Mayberry Park, that would be located near the Kroc Center. Developer Bobby Barreto with Asterisk Development is proposing 24 new luxury townhomes at 104 S. Hudson St., near the planned park.

“The park is definitely a good thing; it will be a great place for people to live,” said Barreto. “We bought into the vision that the city has with the park and want to help set the precedence for revitalization in that area.”

The townhomes will be located on 1.5 acres and will range from 2,040 square feet for a two-bedroom, 2 1/2-bath unit to 3,200 square feet for a four-bedroom, 3 1/2-bath home. Amenities will include granite countertops, stainless steel appliances, hardwood floors, 10-foot ceilings, balconies and one- or two-car garages.

Owners will get to choose from a list of interior design choices including paint color, cabinetry, countertop color and flooring. Floor plans have been designed to include the option for an elevator. If an elevator is not chosen, the shaft will be converted

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into additional closet space. There will also be an option to extend the floor plan on larger units to include an extra bedroom and bathroom, said Barreto.

A formal name is still in the works and Barreto expects presales to begin in July with construction

to begin in August. The project will be done in three phases, the first consisting of nine of the units. Prices will start at $399,000.

Plans have been submitted to the Greenville Design Review Board for review at its May 7 meeting, and a launch party is in the planning stage.

4/20/15 9:38 PM

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PROJECT PARTNERS DEVELOPER: Asterisk Development LLC/Asterisk Land Partners LLC BUILDER: Collins Building Group ARCHITECT: Ryan McKibben SALES: Marchant Company MARKETING: FUEL

A Word To The Wise About Construction Defects HOW TO PROTECT YOUR BUSINESS

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Possibly no two words strike INSURANCE AND RISK more fear in the hearts of General contractors architects, engineers, and transfer risk to the contractors than “construction subcontractors they use defect.”

A claim for on a construction project construction defect can cost through indemnification and astronomical amounts to hold harmless agreements correct and defend. And as well as additional then there’s the damage to a insured requirements in TOM contractor’s reputation and its their construction contracts.

BATES impact on future opportunities VICE PRESIDENT/COO These arrangements for work. It’s enough to break are typically included a business. in standard construction contracts.

Today, the risk of becoming involved in Keep in ind that if a subcontractor a construction defect claim is greater lacks the financial resources to meet than ever. New technology, materials, its obligations, the general contractor and applications have changed the could be obligated for any construction way commercial buildings, homes, and defect claims. (That’s why it’s important condominiums are constructed. Let’s to check the financials of subcontractors consider one of the most costly recent and choose wisely.) examples of construction defect, EIFS. If the court finds against a subcontractor, the policy will frequently pay for property damage caused by EIFS the occurrence. It does not, however, Architects love to design using EIFS cover the costs to remedy the work — (exterior insulation finishing systems.) the faulty workmanship or material that EIFS cladding systems resemble stucco, led to the damage. In many cases, but are less costly to install and can be the cost to correct the construction fashioned into a variety of architectural defect will be greater than the shapes, including soft curves and actual property damages incurred. geometric designs.

This unique Keep in mind that if you are a general flexibility makes EIFS treatments ideal contractor, the whole project is your for special elements such as porticos, work. archways, ornate overheads for The legal landscape for the construction windows, doors, and decorative trim. industry is complicated and changing.

As with exterior cladding, water can In today’s legal climate, customers enter behind or around the system. who are dissatisfied with work are Early applications often lacked increasingly resorting to litigation. drainage features more commonly Sleep better at night by consulting used today. With no place to go, Herlong Bates Burnett Insurance and constant exposure to moisture can your attorney — both are experts cause rot in wood and damage to in their professions and necessary other materials within the building or partners with your business. home. Moisture-related problems led to an avalanche of individual and class Proudly Representing action lawsuits by consumers.

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UBJ

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|

04.24.2015

Why Charles Fraser matters The pioneering accomplishments of the developer of Hilton Head’s Sea Pines Plantation left a legacy that spans decades

By DR. ROBERT BENEDICT,

Clemson University’s Master of Real Estate Development (MRED) program hosted the 2015 Charles Fraser Lecture Series in March to honor the legacy of Charles Fraser, developer of Sea Pines Plantation on Hilton Head Island, S.C., who devoted his career to environmentally conscious development. The series is part of the Charles Fraser Endowment at Clemson University, and is integral in illustrating the MRED program’s platform of the importance of responsible development and sustainable growth, within the context of economic feasibility and value creation.

Fraser graduated from the University of Georgia and earned his law degree from Yale. He was a pioneer in the concept of master-planned community resort developments and initiated the developments of Sea Pines Plantation on Hilton Head Island and Kiawah Island Resort in South Carolina, as well as Amelia Island Plantation in Florida. His most notable development is Sea Pines, which began in 1956, and became a training ground for developers, architects and land planners. Sea Pines was the first recipient of both the Urban Land Institute’s Citation for Excellence in Large Scale Recreational Community Development and the American Institute of Architects’ Certificate of Excellence in Private Community Planning. In addition, the award-winning resort has hosted the PGA Tournament’s Heritage Classic since 1969, which largely began with Fraser’s involvement. In 2002, Fraser died in a boating accident, but his legacy continues through his developments and this event.

During the annual lecture series, a special guest with a deep connection to Fraser and his developments serves as the keynote speaker. David Rawle, founder and chairman of Rawle Murdy, served as the 2015 special guest speaker and presented his presentation, “Why Charles Fraser Matters.”

Rawle, a graduate of Harvard College and Harvard Business School, worked with Charles Fraser over a 27-year period on Sea Pines, Kiawah Island and Palmetto Bluff. Other real estate developments Rawle has worked on include Daniel Island and MeadWestvaco’s large-scale planned communities, East Edisto and Nexton. His lecture, “Why Charles Fraser Matters,” discussed the current relevance and challenges of Charles Fraser’s pioneering accomplishments.

BE CURIOUS. Charles Fraser had a keen interest and curiosity in best practices that were not confined to real estate.

Many industries today tend to be insular; educators talk to educators, manufacturers talk to manufac-

EVENT: Charles Fraser Lecture Series presented by Clemson University Master of Real Estate Development SPEAKER: David Rawle, founder and chairman, Rawle Murdy WHERE: ONE Greenville WHO ATTENDED: More than 50 local real estate professionals

A picture of Charles Fraser walking with an alligator published in the Saturday Evening Post in 1962 helped incite interest in Hilton Head.

Photos Provided

director, Clemson University Master of Real Estate Development

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FOCUS ON COMMERCIAL REAL ESTATE

turers, and real estate developers talk to real estate developers, and yet, some of the most valuable best practices for any industry often come from a different industry. Look beyond your industry for ideas and successful practices. What did they do that might work for you?

CONTEXT MATTERS. Real estate to Charles Fraser was not about transactions involving buildings, it was about experiences involving people. Wise developers put as much thought into programming as they put into physical structures. Programming provides memorable human experiences that can become differentiators and a pathway to success.

One important way to affect how a place lives is to make your best pieces of property available to everyone.

DO YOU WANT TO LIVE TEMPORARILY OR PERMANENTLY? The way to live permanently is to make a difference. Make philanthropy an integral part of your company’s culture.

BE ENVIRONMENTALLY RESPONSIBLE. Through protective covenants, deed restrictions, design guidelines and a myriad of individual choices and decisions, Charles Fraser helped protect our

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step in any real estate development process.

After all, they are the decision-makers and the customers.

CREATIVITY IS A MINDSET. Creativity is a mindset that evokes the ideas that produce something different and better. If your ideas aren’t different or better, they’re only a David L. Rawle, retired founder and chairman of Rawle Murdy; Above: Students of the Clemson Master of Real Estate Development reproduction – or far program and guests listen to David Rawle’s presentation. worse, a poor imitation.

Creativity matters because being different and better is your ticket out of fragile planet. Too often develsameness and commoditization, and into substanopers are still compromising, tially greater results. cutting a corner, saving a dollar and leaving environmental responsibility to the next generation. By fully committing yourself to being environmentally responsible, you can quite literally save the planet.

RECRUIT WOMEN. Women are under-represented in the real estate industry and it is a huge handicap. Eighty percent of all purchase decisions are made by women. The requirements that women look for in a home, office or shopping environment are very different from men’s requirements. Women should be involved at every

BOTTOM LINE “Remember Charles Fraser for his curiosity, his commitment to do best practices and how places live – not just how they look; his dedication to philanthropy, environmental responsibility and diversity; his recognition of the vital importance of creativity, including building differentiated brands; his zest for life; his sense of humor; his loyal devotion to his family and friends; and his commitment always to making a difference,” Rawle said. “He did not live temporarily. He lives permanently. Charles Fraser matters.”

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Now complete, this Class-A 306,000 SF warehouse space is ready for occupancy. Located at 2721 Now complete, 306,000 Whitehorse Roadthis in Class-A Greenville SF warehouse space is185, ready adjacent to Interstate the for occupancy.

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New Horizon Caliber Ridge B CIndustrial Family Health Services Park New Horizon Caliber Ridge B CIndustrial Family Health Services Park Harper completed this 64,000 SF multi-specialty ambulatory urgent care center. The facility opened in Harper completed thisto64,000 SF April and is expected offer health multi-specialty ambulatory urgent care, dental services, chronic disease care center. The facility opened in management, and pharmacy access.

April and is expected to offer health care, dental services, chronic disease management, and pharmacy access.

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The Harper Corporation has begun This retail development in Asheville, construction on this 156,000 SF NC will play host to a total of 3 tilt-up concrete warehouse. Located tenants including a Starbucks & The Harper Corporation hasinbegun This retail Fresh development Asheville, at 130 Caliber Ridge Drive Greer, Salsarita’s Cantina.inCurrent construction on thisinclude 156,000 NC will play host to a site totalwork of 3 the project details 28’SFclear construction includes tilt-up warehouse. tenants including a Starbucks height,concrete both dock high and Located grade and a 6,000 SF shell building. & The at 130access, Caliberand Ridge Drivesprinkler in Greer, Salsarita’s Cantina. level an ESFR anticipatedFresh project will beCurrent located at the project details include 28’ clear construction siteis work system.

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FOCUS ON COMMERCIAL REAL ESTATE

| COVER | 25

B DEALMAKERS Commercial real estate transactions in the Upstate SPECTRUM COMMERCIAL PROPERTIES ANNOUNCED: Jack Snedigar represented the seller, Maranatha LLC, in selling 12 townhome rental investment units at Merry Oaks Condominiums at 1 Hartsville Drive, Taylors.

LEE & ASSOCIATES ANNOUNCED: Kevin Bentley represented the buyer in purchasing 2.62 AC at 100 Allawood Court, Simpsonville.

C

Kevin Bentley represented the buyer in purchasing 9.9 AC at NPA Allawood Court in Simpsonville.

Deanna Hudgens represented the landlord in leasing 6,000 SF at 271 Lakewood Drive, Greenville.

COLDWELL BANKER COMMERCIAL CAINE ANNOUNCED: Charles Humphreys and Sammy DuBose represented the seller, The JNK Group LLC, in selling a 7,162 SF industrial building on 0.802 AC at 19 Blair St., Greenville, to GTM Holdings LLC.

D

Pete Brett, David Sigmon and Graham Howle represented the seller, 291 Retail LLC, in selling a 6,600 SF retail building on 0.76 AC at 200 N. Pleasantburg Drive, Greenville, to Metrohold LLC. Tim Satterfield and Angela Halstead represented the seller, Ines Leonard, in selling a 1,800 SF office/retail building at 516 E. Main St., Spartanburg, to Elite Home Care.

Tim Satterfield and Angela Halstead represented the seller, Jacleen Morris, in selling a 2,500 SF retail building on 0.52 AC at 7048-7052 Howard St., Spartanburg, to Georgiy Matev and Anna Mateva.

Tim Satterfield and Angela Halstead represented the landlord,

John L. Miraziz, in leasing a 4,000 SF retail space at 9133 Warren H. Abernathy Hwy., Spartanburg, to Terri Simandl d/b/a Terriâ&#x20AC;&#x2122;s Treasures.

Pete Brett, David Sigmon and Matt Vanvick represented the landlord, CSGC 111 LLC, in leasing a 2,200 SF office building at 111 Mills Ave., Greenville, to Umbrella Financial Services.

George Zimmerman represented the landlord, Concourse LLC, in leasing a 10,800 SF industrial building at 32 Concourse Way, Greer, to Jerry D. Shive Inc. d/b/a Appalachian Sales Group.

COLLIERS INTERNATIONAL ANNOUNCED: Bob Shaw represented the tenant, Spirit Communications, in leasing 6,157 SF of office space at 250 Commonwealth Drive, Greenville, from NV LLC. Richard Barrett represented the buyer, BKD Capital LLC, in purchasing 429 Roper Mountain Road, Greenville, from Roper Partnership LLC. Richard Jackson represented the tenant, TransSouth Logistics LLC, in leasing 22,500 SF of industrial space at 500 Matrix Parkway, Greenville, from Todah Realty ADA Compliant Ltd. Partnership.

Bob Shaw represented the tenant, Strategic Power Systems, in leasing 1,317 SF of office space at Park East, 750 Executive Center Drive, Greenville, from Terra ParkGreen LLC. Bob Shaw represented the landlord, Century at Keith LLC, in leasing 3,888 SF of office space at Century at Keith, 5 Century Drive, Greenville, to FirstCall Inc. Bob Shaw represented the landlord, US REIF ICP South Carolina LLC, in leasing 7,334 SF of office space at Independence

Corporate Park, 5 Independence Pointe, Greenville, to Girl Scouts of South Carolina.

Givens Stewart represented the tenant, Lockheed Martin, in leasing 210,891 SF of industrial space at 513 Old Griffin Road, Greenville, from Donaldson South Distribution.

NAI EARLE FURMAN ANNOUNCED: Gaston Albergotti, Bill Sims and Jake Van Gieson represented the landlord in leasing 1,000 SF of retail space at 500 Mills Ave., Suite B, Greenville.

Andrew Babb represented the landlord in leasing 2,210 SF of retail space at 155 W. Main St., Suite A, Spartanburg.

Alex Campbell represented the landlord, Patton Development Co Inc., in leasing an 11,500 SF industrial space at 238 & 248 Plemmons Road, Duncan, to Speedy-Pak Logistics.

Andrew Babb represented the landlord in leasing a 1,190 SF retail space at 100 E. Main St., Suite R-1B, Spartanburg, to Broad Street Bellydance LLC. Dan Dunn represented the landlord in leasing a 1,000 SF office space at 390 E. St., Suite 101, Spartanburg, to Core Care Medical LLC. John Baldwin represented Sunbelt Warehouse Corp.

LLC in leasing a 194,594 SF industrial space at 560 Gilliam Road, Spartanburg.

John Gray represented the landlord in leasing an 18,000 SF retail space at 2406 E. North St., Greenville, to Crossway Christian Supply.

Keith Jones represented the landlord of Highland Business Park in leasing a 1,472 SF office space at 355 Woodruff Road, Suite 104, Grenville. Hunter Garrett and John Staunton represented the tenant.

DEALMAKERS continued on PAGE 26

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04.24. 2015

DEALMAKERS Commercial real estate transactions in the Upstate DEALMAKERS continued from PAGE 25

Towers Rice represented the landlord in leasing a 5,000 SF industrial space at 297 Commerce Blvd., Anderson.

Keith Jones represented the landlord of Green Gate Office Park in leasing office space at 25 Woods Lake Road, Greenville, to Life Point Church.

Keith Jones represented the landlord of Green Gate Office Park in leasing office space at 25 Woods Lake Road, Greenville, to Primerica.

Keith Jones represented the landlord of Green Gate Office Park in leasing office space at 25 Woods Lake Road, Greenville, to Americans for Prosperity Foundation.

Keith Jones represented the landlord of Green Gate Office Park in leasing office space at 25 Woods Lake Road, Greenville, to SC

Glenn Batson represented the landlord in leasing a 30,000 SF industrial space at 200 Pate Dr., Suite B, Greenville, to Engineered Products LLC. Keith Jones represented the tenant.

Upstate IT LLC. Keith Jones represented the landlord of Green Gate Office Park in leasing office space at 25 Woods Lake Road, Greenville, to Johnsonâ&#x20AC;&#x2122;s Associate Specialists LLC.

Alex Campbell and Ken Anderson represented the landlord in leasing a 12,132 SF industrial space at 9 Distribution Court, Greer, to B&R Industries Inc.

Keith Jones represented the landlord of Green Gate Office Park in leasing office space at 25 Woods Lake Road, Greenville, to Greenville Process Service.

Keith Jones represented the landlord of Green Gate Office Park in leasing office space at 25 Woods Lake Road, Greenville, to Bayada Home Healthcare Inc. Keith Jones represented the landlord of Green Gate Office Park in leasing office space at 25 Woods Lake Road, Greenville, to Carolina Agriculture Risk Consulting, Inc.

Tyson Smoak and Ross Kester represented the tenant, Homebridge Financial Services, in leasing a 4,022 SF office space at Wells Fargo Center, 15 S. Main St., Suite 601, Greenville.

10.4 AC industrial site at Old Fork Shoals Road, Greenville, to Sunbelt Transformer Ltd. LLC. Towers Rice represented the tenant.

Stuart Wyeth and Earle Furman represented the landlord of Bonaventure II in leasing a 4,016 SF office space at 124 Verdae Blvd., Suites 103-124, Greenville, to Recruiting Solutions LLC. Bill Sims, Jake Van Gieson and Gaston Albergotti represented the landlord of Brookfield Promenade in leasing 2,600 SF of retail space at 1099 E. Butler Road, Suite 101, Greenville, to Wing Fat LLC.

Drew Stamm represented the tenant, White Brunnemer LLC, in leasing a 5,400 SF retail space at 2310 E. North St., Suite A, Greenville.

Jake Van Gieson, Bill Sims and Gaston Albergotti represented the buyer, NLJ Ventures, in purchasing a 1,936 SF retail investment property at 117 State Park Road, Greenville.

Hunter Garrett and John Staunton represented the landlord in leasing a

Keith Jones, Jake Van Gieson and Bill Sims represented the seller in

selling a 1,900 SF office property at 900 Pendleton St., Greenville.

Jimmy Wright, Ted Lyerly and Brendan Gower represented the seller in selling a 3,351 SF retail property at 1070 Tiger Blvd., Clemson.

Robert Schmidt represented the buyer in purchasing a 5,280 SF office property at The Village at Thornblade.

Hunter Garrett and John Staunton represented the seller in selling a 5,256 SF office property at Keys Crossing, Building 100, 429 Roper Mountain Road, Greenville.

Scott Jones and John Baldwin represented the seller in selling a 9,240 SF office property at 217 East Stone Ave., Greenville. John Gray and Drew Stamm represented the buyer.

seller in selling a 56,600 SF self-storage investment property at 2531 River Road, Piedmont.

Alex Campbell, Ross Kester, and Tyson Smoak represented the seller in selling 49.32 AC of land on Painter Road, Travelers Rest.

Tyson Smoak and Ross Kester represented the buyer in purchasing 2.13 AC of land at 3416 Hwy. 81 North, Anderson.

Tyson Smoak and Ross Kester represented the buyer in purchasing 0.78 AC of land at 708 N. A St., Easley.

Kay Hill represented the seller in selling 3.1 AC of land at 9 & 13 E. Parkins Mill Road, Greenville.

Peter Couchell and Robert Schmidt represented the buyer in purchasing a Dollar General in Pickens.

Peter Couchell and Robert Schmidt represented the

SOLD!

Cushman & Wakefield | Thalhimer is pleased to have represented General Investments in the purchase of a 133,000 SF industrial property located at 3056 Fork Shoals Road in Simpsonville, South Carolina.

www.thalhimer.com (864) 370 8155

BRIAN YOUNG, CCIM, SIOR brian.young@thalhimer.com

ELLIOTT FAYSSOUX elliott.fayssoux@thalhimer.com

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FOCUS ON COMMERCIAL REAL ESTATE

| COVER | 27

CRE quarterly market reports Analysis derived from first quarter 2015 market reports supplied by Colliers, CBRE, Lee & Associates, NAI Earle Furman and Cushman & Wakefield | Thalhimer.

Industrial HIGH NOTES Speculative construction continues to gain momentum. Triple net rent rates are up more than 12 percent from a year ago. Net absorption is down, but thatâ&#x20AC;&#x2122;s probably only a temporary lull given that fourth quarter 2014 had over one million square feet of absorption.

Office

Retail

HIGH NOTES

HIGH NOTES

Vacancy is down and rental rates are up.

Downtown Class A space is currently going for approximately $22 per square foot per year.

Last quarter saw more than 90,000 square feet of absorption.

ACTIVITY ACTIVITY The White Horse Industrial Center is now complete with 306,000 square feet and an additional pad that can accommodate an additional 234,000 square feet. Cothran Properties completed construction on the first building in the new industrial park, Logue Park. The 90,000-square-foot building is 100 percent leased, and construction will begin soon on another 110,000-square-foot building. BMW is expanding by 675,000 square feet and Toray Industries is building a 400,000-square-foot building.

In Spartanburg, Becknell Industries plans to construct a 175,000-square-foot building at Wingo Park and the 900,000-square-foot Rite Aid distribution center is under construction.

Anderson County announced plans to build a 50,000-square-foot building, expandable to 200,000 square feet, at Alliance Business Park.

NEXT QUARTER Rental rates are expected to continue to climb.

Look for more new speculative construction from outside investors. Automotive suppliers and the South Carolina Inland Port will continue to attract and dominate the need for industrial space.

BOTTOM LINE The industrial market continues to get tighter, even with all of the new speculative construction activity. As companies prepare to expand their operations, they are experiencing sticker shock with new construction tripe nets around $5 per square feet, compared to $2.50 per square foot, triple net that they are paying now.

20,000 square feet at the former Claussen Bakery site and 15,000 square feet at ONE. NEXT High School leased 50,000 square feet at the former IBM-RBC building. Construction is underway for 80,000 square feet of office space at CU-ICAR.

NEXT QUARTER Class A space continues to be in demand.

Expect to see some boutique office space projects on the near horizon along with former Class B space up-fitted to Class A. Demand in the Central Business District will remain strong and prices will continue to go up.

BOTTOM LINE Space is starting to get tight. In the CBD, thereâ&#x20AC;&#x2122;s only about 350,000 square feet of vacant Class A space available right now. In suburbia, Greenville has about 850,000 rentable square feet available. Spartanburg is really going to be feeling a crunch with a 2 percent vacancy rate for Class A space. Parking will continue to be a challenge for those seeking space in the CBD.

The area continues to attract national and regional retailers entering this market for the first time. Grocery stores are currently leading that charge with Harris Teeter and Lowes Foods planning to enter this market. Aldi and Fresh Market are expanding and there seems to be a new Wal-Mart Neighborhood Market popping up on every corner.

ACTIVITY Many large mixed-use projects (Camperdown, SouthRidge, South+Main) are underway that will bring even more retail to the area. A new 15,000-square-foot CVS on Augusta is slated to open this summer.

NEXT QUARTER As more retailers enter the market, vacancy rates will continue to decline and rental rates will increase even more.

BOTTOM LINE While market conditions remain somewhat steady, rental rates continue to rise. Demand continues to be high in the major shopping areas such as Haywood, Woodruff and Augusta roads in Greenville and on W.O. Ezell Blvd in Spartanburg and Clemson Boulevard in Anderson.

CLOSE MORE DEALS. Over 100,000 readers look to the UBJ every week to help them close more business.

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UBJ

PLAY-BY-PLAY OF UPSTATE CAREERS

HIRED

HIRED

LAUNCHED

AWARDED

|

04.24.2015

HIRED

Brian L. McDaniel

Charles A. Goessel

Salli Alexander

Brook Bristow

Amy Landis

Named as a mechanical engineer at GMK Associates Inc.’s architecture and engineering division.

McDaniel has more than 10 years of experience in mechanical and process engineering with an emphasis on HVAC systems.

He previously worked at Mechanical Engineering Consulting Associates Inc.

Named manager on the audit and assurance team at Graydon Thompson LLC. Goessel is a CPA with eight years of experience in public accounting with regional firms, including time spent conducting financial and retirement plan audits of organizations in manufacturing, real estate, retail and professional services.

Started Salli Alexander Consulting LLC to provide consultation services for small to midsize nonprofit organizations in donor relations, grant writing and event planning. She most recently served as development director and director of major gifts at A Child’s Haven.

Awarded the F.X. Matt Defense of the Small Brewing Industry Award at the Craft Brewers Conference & BrewExpo America. Bristow is executive director of the South Carolina Brewers Guild. He was selected for his pro bono law work helping the guild pass the 2013 Pint Law and the 2014 Stone Law.

Named the Thomas F. Hash ’69 SmartState Endowed Chair in Sustainable Development. Landis will coordinate the SmartState Center of Economic Excellence in Sustainable Development to help researchers develop technology to collect data and inform policymakers on sustainability efforts.

RETIREMENT IS JUST AROUND THE CORNER. AND IT’S REALLY HARD TO SEE AROUND CORNERS. Here’s the curious thing about retirement. Given its enormous size,

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we will evolve your plan along with them. Because every

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rjupstate.com // @RJUpstateSC // facebook.com/raymondjamesupstatesc © 2015 Raymond James & Associates, Inc., member New York Stock Exchange / SIPC. 15-BR33L-0055 TA 3/15

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PLAY-BY-PLAY OF UPSTATE CAREERS

EDUCATION Leslie W. Hicken, professor of music at Furman University, won a 2015 Excellence in Teaching Award from the South Carolina Independent Colleges & Universities (SCICU) organization. Hicken joined Furman in 1993 as director of bands and supervisor of instrumental music education.

Outside of Furman he is the artistic director for the Carolina Youth Symphony and the Furman “Music by the Lake” Summer Concert Series.

ENGINEERING

Gina Harn Named director of operations at Liquid Catering. Harn has more than 15 years of experience in the food and beverage industry. Harn will ensure all company and event operations are executed smoothly at off-site events and at The Old Cigar Warehouse.

ACCOUNTING Weston Moore, a staff auditor at Elliott Davis Decosimo, won the 2014 Elijah Watt Sells Award for his performance on the CPA exam. The award is given annually by the American Institute of CPAs (AICPA) to recognize those who obtain a cumulative average score above 95.5 across all four sections of the CPA examination. Moore was one of 60 candidates recognized.

Over 90,000 individuals sat for the CPA exam in 2014.

COMMUNITY DEVELOPMENT The Riley Institute at Furman recruited Mark Quinn as senior associate and promoted Jacki Martin to director of operations. Quinn is director of public and member relations at the Electric Cooperatives of South Carolina. At the Riley Institute he will shape the critical issues programming.

He has more than 16 years of television journalism experience. Martin was promoted from associate director. She has a background in policy and program management related to community development issues, including land use, conservation, transportation and public education in the government, nonprofit and for profit sectors.

| ON THE MOVE | 29

Jacob McDaris, a KTM Solutions mechanical design apprentice, won an intern scholarship from the Charleston Defense Contractors Association (CDCA). McDaris, who will graduate from Greenville Technical College, is in his third year of the KTM Solutions apprenticeship program. He will continue his academic studies in engineering management technology at USC-Upstate in September.

HUMAN RESOURCES The following Human Technologies Inc. employees successfully completed the internal leadership development program, Tier II: Julie Blackmon, Lindsay Hunter, Renard Duncan, Todd White and Tricia Hutchinson.

For anything IT, we’re it.

At Integral, our team comes with our solution.

At Integral Solutions Group, we’re your partner for the design, deployment and maintenance of your IT infrastructure. With live 24/7 support, the only Tier IV commercial data center in the state, plus turn-key and a la carte services, it’s our mission to help alleviate the everyday stress of IT management.

LIGHTING Progress Lighting hired Jerald Castaneda as director of business development. Castaneda has more than 20 years of experience in the homebuilding industry. He most recently served as vice president of national accounts for United Technologies Corporation’s Carrier HVAC business. He also led MASCO Corporation’s builder program.

NONPROFIT Meals on Wheels of Greenville named five new members to its board of directors: Bill Bishop, co-owner of Emedia Group Inc.; Lee Bugay, financial planner at Ameriprise Financial; Laura Hodge, vice president of sales and service officer at BB&T Bank; Carol Moody, senior administrator and associate chief nursing officer at Greenville Health System; Richard Muncaster, founder and principal at Muncaster Financial Services.

Custom Solutions for Complex Challenges To learn more, call any one of our technology specialists at 1.800.235.0767 or visit us online: www.integralsg.com/IT

CONTRIBUTE: New hires, promotions & award winners may be featured in On the Move. Send information and photos to onthemove@upstatebusinessjournal.com.

CLOUD SERVICES | MANAGED SERVICES | TIER IV DATA CENTER NETWORK INTEGRATION | VOICE & DATA INFRASTRUCTURE

30 | THE FINE PRINT |

UBJ

BUSINESS BRIEFS YOU CAN’ T MISS

|

04.24.2015

T&S Brass wins Kitchen Innovations Award

Chicken Salad Chick opens new Greenville location next month

Commercial food service and plumbing product manufacturer T&S Brass and Bronze Works won the Kitchen Innovations Award from the National Restaurant Association for the company’s new EnviroPure ozone recirculation option.

The recirculation option is designed to eliminate the need to add fresh water during the organic food waste disposal system’s digestive process. The option relies instead on water that is naturally extracted from food waste as it processes through the system.

EnviroPure’s system breaks down food waste in 24 hours through a combination of mechanical processing and aerobic decomposition, which turns food waste into a safe grey water byproduct that meets municipal wastewater requirements. With the ozone recirculation option, that grey water is infused with ozone, which acts as a cleansing agent. The purified water then recirculates in a bubbler tank until further needed. Any excess water can be used for irrigation or other non-potable purposes.

“A typical foodservice operation could expect to save about 400 gallons of water a day using this ozone infusion option,” Jim Slanina, president of EnviroPure, said in a release. “At a time when we’re beginning to realize water is not an unlimited resource, we think this will be a welcome innovation.”

Chicken Salad Chick is scheduled to open its new Greenville location on May 12 at 3604 Pelham Road.

The restaurant will be the second Chicken Salad Chick location in Greenville.

“We are so happy to be bringing this extraordinary concept to another Greenville location,” owners Julie Beville and Michelle Singleton said in a release. “We have absolutely loved getting to know our guests on Augusta Road, and cannot wait to share the Chicken Salad Chick experience with this new location.”

Beville and Singleton of SingBev Hospitality LLC operate six Chicken Salad Chick restaurants in Greenville, Summerville, Lexington and Columbia, S.C., as well as two in Charlotte, N.C. “We are so excited that the success of our first Greenville restaurant has led to this location on Pelham Road,” said Kevin Brown, president of Chicken Salad Chick. “We made our South Carolina debut in Greenville, so we could not be more excited to expand our concept to a different part of their community.”

Purilogics accepted into SCRA launch program

Joyner Commercial, the commercial division of Berkshire Hathaway HomeServices C. Dan Joyner, won the CoStar Power Broker Award from CoStar Group Inc. CoStar is a provider of commercial real estate information, analytics and online marketplaces. The annual award recognizes firms and individual brokers who closed the highest transaction volumes in commercial property sales or leases in 2014 within their respective markets.

All awards are based on transaction data maintained in CoStar’s commercial real estate database.

Joyner Commercial qualified as one of the top commercial brokerage firms in Greenville, based on total sale transactions closed during the year. In order to be selected for this honor, Joyner Commercial’s overall transaction volumes were evaluated by CoStar against other commercial real estate brokerage firms active in its region, and subsequently ranked among the top firms in the market.

CoStar Group founder and CEO Andrew C. Florance said in a release, “These industry leaders deserve to be recognized for their expertise, hard work and superior deal-making abilities. We extend our congratulations to this year’s winners on their exceptional sales and leasing success.” >>

SCRA Technology Ventures accepted Greenville-based Purilogics into its SC Launch Program.

Purilogics provides advanced separation technologies for the biopharmaceutical industry. The company develops products that enable biopharmaceutical manufacturers to increase production capacity and simultaneously lower the cost of biologics, which are a class of drugs in high demand for treating such severe and chronic conditions as cancer and cardiovascular and rheumatoid diseases.

Companies accepted into the SC Launch economic development program receive mentoring and other support services. These companies may be eligible to receive matching funding or larger investment funds.

Joyner Commercial wins CoStar Power Broker Award

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ReWa team wins first place at environmental conference

Since 1995, Boeing has adopted and extended the radial technology originally developed by Michelin for the 777 to all its long-range fleet. The future 787-9 will also be fitted with Michelin NZG new-generation radial tires.

Renewable Water Resources’ (ReWa) Operations Challenge Team won first place overall at the state level at the State Operations Challenge Competition at the South Carolina EnviPhoto Provided ronmental Conference (SCEC) last month.

Operations Challenge Competitions are held across the country and allow ops teams to vie for the top spot in various event categories, testing their operations skills and abilities while being timed and judged on performances in each category.

“Through competition and networking, our team has been able to refine their skills and teach other employees to apply those refinements toward solving the operational and technical challenges faced daily on the job at ReWa,” Glen McManus, director of operations for ReWa, said in a release.

ReWa’s Operations Challenge Team members are Russ Moore, Larry Camp, Adam Harvey, Joe Ortiz and Doug Allen.

Michelin named supplier of the year

by Boeing Michelin Group’s Aircraft Tire Division was named Supplier of the Year in the electronics/ hydraulics/mechanical category by The Boeing Company.

Michelin was one of 14 companies and one university honored during an awards ceremony in Virginia for distinguished performance in working with Boeing. Michelin also received a Boeing Performance Excellence Award.

“Our business teams have worked very hard to establish a spirit of mutual partnership with our associates at Boeing, which has resulted in a strong and growing relationship between our companies,” Frank Moreau, director of Michelin Group’s Aircraft Tire Division, said in a release. “As the awards are based on quality, on-time delivery, post-delivery support and affordability goals, and demonstrating the ability to anticipate and respond to changing requirements, we are proud to receive this award.”

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| THE FINE PRINT | 31

Synnex announces $6.5M expansion Synnex Corporation plans to add a 40,000-square-foot addition to its existing Greenville distribution headquarters.

The company said the $6.5 million expansion will allow them to hire 150 full-time associates. “Our ongoing growth demands that we expand our facilities for current and future growth to stay ahead of the evolving needs of our customers and vendor partners,” Synnex North American Distribution president Peter Larocque said in a release.

The company has more than 1,250 employees in Greenville County between its distribution headquarters and its subsidiary, Concentrix. The IT products and services company opened its Greenville office in 1988 with 25 associates.

“With its past acquisition of Concentrix and ongoing growth, [Synnex] has quickly become one of Greenville County’s largest employers. We’re appreciative of this new expansion and all that it has done in our community,” said Bob Taylor, Greenville Area Development Corporation board member and Greenville County Council chairman.

Synnex holds its annual conference in Greenville, attracting more than 1,700 attendees from leading IT companies such as HP, Lenovo and Intel.

Bo Knapp wins Papa John’s 2014 franchise of the year Bo Knapp, owner of 19 Upstate Papa John’s Pizza restaurants, was recently named the 2014 Papa John’s Pizza Franchise of the Year during the company’s annual operators conference in Orlando, Fla. With over 4,000 locations worldwide, franchises are separated into four regions, with one nominee for Franchise of the Year from each region. Knapp’s franchise was honored with a $20,000 cash reward and a crystal trophy replica of a Papa John’s restaurant.

Knapp opened his first Papa John’s restaurant in 1992 off East North Street in Greenville. He has since grown his franchise to more than 700 employees at 19 Papa John’s Pizza locations throughout the Upstate and Western North Carolina.

“I’m very proud of being recognized as Papa John’s Franchise of the Year,” said Knapp in a press release. “With over 3,200 Papa John’s locations in the U.S. alone, being recognized as the top franchise is a true honor. No business would be successful without the support of their team. We have a great team of people who love their community and are very involved with it. This is the key to our success, so we feel lucky to be able to give back in the ways we do.”

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UBJ

THE FRESHEST FACES ON THE BUSINESS LANDSCAPE

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04.24.2015

Open for business “I’M GIVING SOMETHING BACK TO MY CUSTOMERS. THEY ARE THERE FOR ME. I WANT TO BE THERE FOR THEM.” - TOMMY STEVENSON TOMMY’S COUNTRY HAM HOUSE, GREENVILLE CHAMBER SMALL BUSINESS OF THE MONTH, APRIL 2015

The Greenville Chamber salutes our Small Business of the Month. We honor and appreciate all the things that small businesses bring to our community and we are proud to be there for them as well.

If you’re in business, you have a partner in us.

Photo provided

David F. Sullivan Law Firm recently opened at 207 N. Maple St., Suite 2, Simpsonville. The practice focuses on criminal defense, DUI and real estate. For more information, call 864-757-1524 or visit davidfsullivanlaw.com.

CONTRIBUTE: Know of a business opening soon?

Email information to bjeffers@communityjournals.com.

NOSE DIVE @ NOON. Daily Features.

GF & Healthy Options.

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The “Southerner” - Fried Green Tomato Rings, Spiced Pecans, Goat Cheese, Apple Cider Vinaigrette

www.greenvillechamber.org 116 South Main Street | Greenville, SC 29601 | 864.373.7300 www.thenosedive.com | www.facebook.com/thenosedive Lunch & Dinner, Monday - Friday | Brunch & Dinner, Saturday | Sunday Brunch

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INSIDE THE UPSTATEâ&#x20AC;&#x2122;S NETWORKING AND SOCIAL SCENE

| SOCIAL SNAPSHOT | 33

EARTH DAY EXPERIENCE Wyche & SynTerra hosted an Earth Day celebration that included an urban farm experience. The event featured Mill Village Farms, which brought urban farming to Greenville in 2012 to transform communities and promote entrepreneurship in youth. Join the global conversation with #urbanfarming.

Photos provided

CONTRIBUTE: Got high-resolution photos of your networking or social events? Send photos and information for consideration to events@upstatebusinessjournal.com.

BANKING

WITH A PERSONAL TOUCH Greer State Bank is proud to be your Community Bank.

When you open an account with us, you are more than a number. Enjoy the benefits of Online Banking, Online Bill Pay, 24-Hour Telephone Banking, Mobile App and countless other helpful tools. Whether you are a new customer, or have been with us since the beginning, we are excited to build your future and ours together!

Local Decisions. Unmatched Service. Friendly Response.

Branch Locations Corporate Office

1111 West Poinsett Street Greer, SC 29650 (864) 877-2000

North Main Street Office 601 North Main Street Greer, SC 29650 (864) 848-5102

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Buncombe Road Office 871 South Buncombe Road Greer, SC 29650 (864) 848-2563

Taylors Office

3317 Wade Hampton Blvd Taylors, SC 29687 (864) 416-6016

GreerStateBank.com

Clemson Lending Office 133 Thomas Green Blvd., Suite 204 Clemson, South Carolina 29631 (864) 877-2000

34 | PLANNER | DATE

EVENTS YOU SHOULD HAVE ON YOUR CALENDAR

UBJ

|

04.24.2015

EVENT INFO

WHERE DO I GO?

HOW DO I GO?

4/24

Friday Forum Breakfast Speakers: Mayor Knox White and John Boyanoski

Embassy Suites, 670 Verdae Blvd, Greenville, 8-9:30 a.m.

Cost: Chamber member $15, nonmember $20 Register: bit.ly/fridayforum-april2015

Tuesday

Small Business Success Series Topic: Networking: How It Can Increase your Sales Speaker: Meredith Noon, professional networker, BNI

Comfort Suites Simpsonville, 3971 Grandview Drive, Simpsonville, 8-9:30 a.m.

Cost: Chamber members $39, nonmembers $49, RSVP: 864-862-2586

Community Forum Luncheon

Spartanburg Marriot, 299 N. Church St., Spartanburg, noon-1:30 p.m.

More info: bit.ly/community-forum2015

The Citadel Directors’ Institute Corporate directors and executives connect and discuss emerging issues and best practices in board oversight

Francis Marion Hotel, 387 King St., Charleston, 8 a.m.-4 p.m.

Cost: $395 Register: citadel.edu/cdi

Upstate Diversity Leadership Awards

TD Convention Center, 1 Exposition Drive, Greenville, 6-8 p.m.

Cost: $75 Info: bit.ly/diversity-may2015

DesignThinkers Design Talk Topic: The Best Story Wins: Storytelling as a Solution Design Tool

OpenWorks, 2 N. Main Street, Suite 400, Greenville, noon-1 p.m.

Cost: $10 Register: bit.ly/dw-may2015

InnoVision Series Topic: Data Breaches and Cyber Security

McNair Law Firm, P.A., 104 S. Main St., Suite 700, Greenville, 3:30-5 p.m.

Register: ahalpin@mcnair.net or 864-271-4940

Workplace Law Breakfast Series Topic: Daily Decisions: Best Practices For Managing Your Existing Workforce

Westin Poinsett Hotel, 120 S. Main St., Greenville, 8-10 a.m.

Cost: Free Register: bit.ly/breakfast-series-may2015

Friday

4/28 Friday

5/1 Tuesday

5/5 Wednesday

5/6 Tuesday

5/7 Tuesday

5/12

CONTRIBUTE: Got a hot date? Submit event information for consideration to events@upstatebusinessjournal.com.

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A QUICK LOOK INTO THE UPSTATE’S PAST

The Claussen’s Bakery building is now home to the McMillan Pazdan Smith Architecture firm. Earlier this year the firm took occupancy of a modern 16,000-square-foot space on the second floor of the newly renovated building. By choosing to reuse the original structure, the firm was able to preserve the historic integrity and unique character of the 1930s industrial space, while still giving the building a fresh, contemporary upgrade, including a complete modernization of the building’s systems. Six additional commercial tenants will occupy the first floor.​ (Source: McMillan Pazdan Smith Architecture)

| SNAPSHOT | 35

Recent photos by Greg Beckner

Historic photo provide d

Claussen’s Bakery, located on Augusta Street near the West End business district, was Greenville’s most aromatic business. The large bakery supplied bread and cakes to most of the grocery stores in the county. Claussen’s was also the manufacturer of cookies for the Girl Scouts’ annual fundraising sale.​

Historic photograph available from the Greenville Historical Society.​ From “Remembering Greenville: Photographs from the Coxe Collection” by Jeffrey R. Willis DIGITAL STRATEGIST Emily Price

IN THIS WEEK’S ISSUE OF UBJ? WANT A COPY FOR YOUR LOBBY?

MAY 15: THE DESIGN ISSUE Drawing up the Upstate’s future.

ART & PRODUCTION 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

ART DIRECTOR Whitney Fincannon PRESIDENT/CEO

Mark B. Johnston mjohnston@communityjournals.com

UBJ PUBLISHER

ADVERTISING DESIGN Kristy Adair, Michael Allen

EXECUTIVE EDITOR

EXECUTIVE ASSISTANT Kristi Fortner

MANAGING EDITOR

STORY IDEAS:

INTERNS

Amanda Cordisco, Natalie Walters

PHOTOGRAPHER Greg Beckner MARKETING & ADVERTISING SALES REPRESENTATIVES Kristi Jennings, Donna Johnston, Annie Langston, Lindsay Oehman, Emily Yepes

DIRECTOR OF EVENTS & ACCOUNT STRATEGY Kate Madden

1988 Jackson Dawson opens in Greenville at Downtown Airport

1997 Jackson Dawson launches motorsports Division 1993

1990 Jackson Dawson acquires therapon marketing Group and moves to Piedmont office Center on Villa.

>>

with a majority of them utilizing the general aviation airport as a “corporate gateway to the city.”

In 1997, Jackson and his son, Darrell, launched Jackson Motorsports Group. The new division was designed to sell race tires and go to racetracks to sell and mount the tires. Darrell Jackson now serves as president of the motorsports group and Larry Jackson has two other children and a son-in-law who work there. Jackson said all his children started at the bottom and “earned their way up.”

Jackson kept the Jackson-Dawson branches in Detroit and others in Los Angeles and New York until he sold his portion of that partnership in 2009 as part of his estate planning.

The company now operates a small office in Charlotte, but its main headquarters are in Greenville in a large office space off Woodruff Road, complete with a vision gallery that displays local artwork and an auditorium Jackson makes available for non-profit use. The Motorsports Group is housed in an additional 26,000 square feet building just down the street, and the agency is currently looking for another 20,000 square feet.

Jackson said JMG has expanded into other verticals such as financial, healthcare, manufacturing and pro-bono work, but still has a strong focus on the auto industry and transportation. It’s

Chairman larry Jackson, Jackson marketing Group. Photos by Greg Beckner / Staff

Jackson Marketing Group celebrates 25 years By sherry Jackson | staff | sjackson@communityjournals.com

Solve. Serve. Grow. Those three words summarize Jackson Marketing Group’s guiding principles, and according to owner Larry Jackson, form the motivation that has kept the firm thriving for the past 25 years.

Jackson graduated from Bob Jones University with a degree in video and film production and started his 41-year career in the communications industry with the U.S. Army’s Public Information Office. He served during

Vietnam, where he said he was “luckily” stationed in the middle of Texas at Fort Hood.

He left the service and went to work in public affairs and motorsports at Ford Motor Company in Detroit.

After a stint at Bell and Howell, where he was responsible for managing Ford’s dealer marketing and training, the entrepreneurial bug hit and he co-founded Jackson-Dawson Marketing Communications, a company specializing in dealer training and product launches for the auto industry in 1980.

In 1987, Jackson wanted to move back south and thought Greenville would be a good fit. An avid pilot, he

learned of an opportunity to purchase Cornerstone Aviation, a fixed base operation (FBO) that served as a service station for the Greenville Downtown Airport, providing fuel, maintenance and storage.

In fact, when he started the Greenville office of what is now Jackson Marketing Group (JMG) in 1988, the offices were housed on the second floor in an airport hangar.

“Clients would get distracted by the airplanes in the hangars and we’d have to corral them to get back upstairs to the meeting,” Jackson said.

Jackson sold the FBO in 1993, but says it was a great way to get to know Greenville’s fathers and leaders

>>

2003 motorsports Division acquires an additional 26,000 sq. ft. of warehouse space

1998 1998 Jackson Dawson moves to task industrial Court

also one of the few marketing companies in South Carolina to handle all aspects of a project in-house, with four suites handling video production, copywriting, media and research and web design.

Clients include heavyweights such as BMW, Bob Jones University, the Peace Center, Michelin and Sage Automotive. Recent projects have included an interactive mobile application for Milliken’s arboretum and 600-acre Spartanburg campus and a marketing campaign for the 2013 Big League World Series.

“In my opinion, our greatest single achievement is the longevity of our client relationships,” said Darrell Jackson. “Our first client from back in 1988 is still a client today. I can count on one hand the number of clients who have gone elsewhere in the past decade.”

Larry Jackson says his Christian faith and belief in service to others, coupled with business values rooted in solving clients’ problems, have kept

2009 Jackson Dawson changes name to Jackson marketing Group when larry sells his partnership in Detroit and lA 2003

2009-2012 Jackson marketing Group named a top BtoB agency by BtoB magazine 4 years running

him going and growing his business over the years. He is passionate about giving back and outreach to non-profits. The company was recently awarded the Community Foundation Spirit Award.

The company reaffirmed its commitment to serving the community last week by celebrating its 25th anniversary with a birthday party and a 25-hour Serve-A-Thon partnership with Hands on Greenville and Habitat for Humanity. JMG’s 103 full-time employees worked in shifts around the clock on October 22 and 23 to help construct a house for a deserving family.

As Jackson inches towards retirement, he says he hasn’t quite figured out his succession plan yet, but sees the companies staying under the same umbrella. He wants to continue to strategically grow the business.

“From the beginning, my father has taught me that this business is all about our people – both our clients and our associates,” said his son, Darrell. “We have created a focus and a culture that strives to solve problems, serve people and grow careers.”

Darrell Jackson said he wants to “continue helping lead a culture where we solve, serve and grow. If we are successful, we will continue to grow towards our ultimate goal of becoming the leading integrated marketing communications brand in the Southeast.”

2011 Jackson marketing Group/Jackson motorsports Group employee base reaches 100 people

2008 2012 Jackson marketing Group recognized by Community Foundation with Creative spirit Award

pro-bono/non-proFit Clients American Red Cross of Western Carolinas Metropolitan Arts Council Artisphere Big League World Series The Wilds Advance SC South Carolina Charities, Inc. Aloft Hidden Treasure Christian School

CoMMUnitY inVolVeMent & boarD positions

JUNE 19: THE ENTERTAINMENT ISSUE A look at the business of leisure.

lArry JACkson (ChAirmAn): Bob Jones University Board chairman, The Wilds Christian Camp and Conference Center board member, Gospel Fellowship Association board member, Past Greenville Area Development Corporation board member, Past Chamber of Commerce Headquarters Recruiting Committee member, Past Greenville Tech Foundation board member David Jones (Vice President Client services, Chief marketing officer): Hands on Greenville board chairman mike Zeller (Vice President, Brand marketing): Artisphere Board, Metropolitan Arts Council Board, American Red Cross Board, Greenville Tech Foundation Board, South Carolina Chamber Board eric Jackson (Jackson motorsports Group sales specialist): Salvation Army Boys & Girls Club Advisory Board

November 1, 2013 Upstate bUsiness joUrnal 21

20 Upstate bUsiness joUrnal November 1, 2013

AS SEEN IN

NOVEMBER 1, 2013

Anita Harley, Jane Rogers

Susan Clary Simmons ssimmons@communityjournals.com

Ashley Boncimino, Sherry Jackson, Benjamin Jeffers, Cindy Landrum, April A. Morris

jackson Marketing Group’s 25 Years

OPERATIONS Holly Hardin

CLIENT SERVICES

STAFF WRITERS

UBJ milestone

1988

Ryan L. Johnston rjohnston@communityjournals.com

Jerry Salley jsalley@communityjournals.com

UBJ milestone

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