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COMMERCIAL REAL ESTATE QUARTERLY ISSUE NOVEMBER 9, 2018 | VOL. 7 ISSUE 38

FULL SPEED AHEAD

GREENVILLE ATHLETES TAKE HOLD OF THE COMMERICAL REAL ESTATE MARKET


This Weekend 143 Artists

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TOP-OF-MIND AND IN THE MIX THIS WEEK

| THE RUNDOWN

VOLUME 7, ISSUE 38 Featured this issue: David Glenn on the Camperdown Development and more ............................. 20 Local firm playing pivotal role in County Sqaure redevelopment................. 24 The inside scoop from November’s Design Review Board meeting.............. 32

WORTH REPEATING

“We believe we better be here and avoid the trade risk and then use all the benefits here and better circumstances here.” Lee Sung-gyun, Page 4

“It’s all about the customer experience now. People can go buy a candle anywhere, in a store or on Amazon; we like to create experiences for our customers.” Tina Rodgers, Page 6

“When you grow up playing sports, not everyone can be the quarterback or superstar receiver. Everyone plays a role and I think it’s important to embrace that, and that’s true for real estate, as well. Trey Pennington, Page 15

KDS is the only local firm involved at the highest level of the $1 billion County Square Development project. This 3-D rendering gives a glimpse of what’s to come with the project.

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NEWS |

INFORMATION YOU WANT TO KNOW

MANUFACTURING

Trade tensions give way to US-Korea joint venture NEIL COTIAUX | CONTRIBUTER

In the Upstate, recent jitters over trade relations with South Korea are giving way to collaboration. A 50-50 joint venture between Seoul-based Huvis Corp. and Indorama Ventures Public Co. Ltd., now getting underway at Indorama’s Auriga Polymers subsidiary in Spartanburg County, may end up serving as an example of how global disputes can be overcome in ways that unleash mutual opportunities. Huvis is the world’s leading supplier of low-melting fiber, an eco-friendly adhesive fiber used in composites in the automotive, furniture, and bedding industries for insulation, sound absorption, and other functions. Automotive applications account for 53 percent of global LMF consumption, according to a July 2018 report from Global QY Research. The joint venture’s $48 million investment at Auriga, which produces fibers, resins, and specialty polymers, is intended to grow U.S. market share in LMF and help sidestep prolonged trade tensions, said Lee Sung-gyun, Huvis’ senior manager for the LMF project. “We believe we better be here and avoid the trade risk and then use all the benefits here and better circumstances here,” Lee said as he met with his new American counterparts. Last year, the U.S. Commerce Department initiated 79 anti-dumping and countervailing duty investigations against foreign companies believed to be selling products abroad at less than fair value — a 52 percent increase over 2016 — with the government scrutinizing the sale of certain polyester staple fibers from four countries, including South Korea.

This past June, Huvis announced that Washington had decided to impose zero-percent anti-dumping duties on its low-melting fiber exports in a separate review and “this final determination is expected to boost sales further.” Tensions also spiked this year as the U.S. threatened tariffs on South Korean steel. Huvis now holds a 40 percent share

it is constructed, said Mark Holden, vice president of operations at Auriga. Once hired, they will undergo intensive training and will work in concert with South Korean and American engineers and business-development officers. “We picked a great partner who’s an expert in the field,” Holden said. Initial distribution of domestically

Left to right: Lee Sung-gyun, global team senior manager, Huvis Corporation; Mark Holden, vice president for operations, Auriga o f Polymers; and Marc Buchert, project manager, Auriga. the U.S. LMF market but there is concern over how long the trade skirmishes might last, Lee said. “We believe in the future there will be more pressure for that, so that we decided to be here and coupling with IVL, who has the capability to supply the polymer technology and facilities … and people who we can hire from here,” Lee explained. Hiring is beginning for 50 workers who will operate the new facility after

produced LMF is expected in early 2020 after construction of the new facility is completed, said Marc Buchert, the project manager, with sales in Mexico and Canada to follow. According to Holden, migrating LMF production from South Korea to the Upstate will allow Huvis to ensure that its customers here have “the least possible supply interruptions to trade … you have a stronger position for your customers by having

an asset in the region that you’re currently selling.” With BMW, Volvo, Mercedes-Benz, Volkswagen, and Kia plants located across the Southeast, Buchert added, the region represents a top market for the joint venture’s LMF. “If you look at all the automotive suppliers around us, why would you not do this?” he asked. Indorama, a Thailand-based petrochemicals producer with 85 facilities in 29 countries, will ship bulk chemicals used in LMF production into the plant by rail from Texas, Alabama, and Canada. The recent drop in the corporate tax rate and inducements to attract foreign investment are expected to “significantly help the joint venture reinforce its cost competitiveness,” Huvis Corp. said in a statement. John Lummus, president and CEO of Upstate SC Alliance, said he sees more foreign investment in the region, including more joint ventures, which generally arise when companies have similar business lines or have worked together in other markets. “I think we will continue to see more of that as we get more foreign direct investment in the region,” drawn here by workforce and manufacturing capabilities, Lummus said. As for trade tensions, “I think you are going to see some situations where companies would be able to take advantage of that, and that’s great for us, but I think in the overall big picture, we’re seeing that it’s a negative,” he said. Currently, the Upstate hosts 466 foreign-owned companies, according to Alliance data. Spartanburg County is home to more than 200 of them.

466 FOREIGN-OWNED COMPANIES IN THE UPSTATE

Spartanburg county is home to more than 200 of them.

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UBJ | 11.09.2018


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NEWS |

INFORMATION YOU WANT TO KNOW

RETAIL & HOSPITALITY

Customer experiences key to making it work on Main Street

Renato G., MBA

Photo provided SHERRY JACKSON | CONTRIBUTOR

It’s been four years since Inde-

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pendence, Kansas-based Magnolia Scents’ owner Brian Hight decided to open a second location of his candle, bath, and body products business halfway across the U.S., in Greenville. Today, he says, the Main Street store is still going strong with some lessons learned along the way. “Some people don’t even know we’re here still,” says Greenville manager Tina Rodgers, who relocated to Greenville four years ago to open and run the store. The store sees a mix of about 70 percent visitors and 30 percent locals, she says. Magnolia Scents makes and sells its candles, soaps, and bath and body products from its location at 209 N. Main St. All products are made from natural ingredients, most are plantbased, and the candles are made with soy, according to the business. There have been many changes over the past four years both inside the store and along Main Street. Rodgers says she’s noticed a shift of foot traffic. “Since the West End is growing like crazy, not everyone makes their

way to the north end,” she says. But, special events at NOMA Square and guests from the Hyatt help. “I think it’ll come back around. We just have to ride it out,” she says. Retail neighbors along Main Street have also changed, says Rodgers, who has noticed more national and retail chains moving in. “It’s hard for mom-and-pop businesses to make it,” she says. Rent is high — about eight times the amount for half of the square footage compared with Magnolia Scents’ Independence store, one indicator of the difference in the markets. Hight says he has worked to build the experience of visiting the store. “We employ very talented artists, so you can see traces of their beautiful work all over the shop, not just in the handcrafted products,” he explains. “Not only does that make the store feel more homey, we think it actually is an answer to the cookie-cutter, perfect, somewhat-sterile environments created by large national chains. Our shop is built to be hospitable, comfortable, and creative


INFORMATION YOU WANT TO KNOW

to cater to a clientele that appreciates quality, authenticity, and cool people. Tina gives her staff incredible leeway to make the space their own, and customers can feel that.” Magnolia Scents has adapted to customers’ needs and now includes a new line of men’s products, more bath bombs, lotions, and soaps, and the ability for customers to bring in their own glass for refills. More classes have been added each week for customers to come in and try their hand at making candles, according to Hight. “We now book up multiple sessions

almost every weekend,” he says. “We noticed that people were looking for more of an experience when they came downtown. They are there to have a good time, not just to buy things, so the classes are a fun way to spend time with friends, be creative, and learn a new skill.” The store has also added a “smelfie” station for those that want to Instagram their buying experience. “It’s all about the customer experience now,” Rodgers says. “People can go buy a candle anywhere, in a store or on Amazon; we like to create experiences for our customers.”

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NEWS |

INFORMATION YOU WANT TO KNOW

FINANCE

Southern First Bank reports 35 percent earnings increase for third quarter ANDREW MOORE | STAFF

amoore@communityjournals.com Greenville’s Southern First Bank continues to generate record earnings. Southern First Bancshares Inc., the holding company for Southern First Bank, announced its latest earnings results earlier this month, posting a 35 percent increase in net income during the third quarter of 2018. The bank said its net income to common shareholders increased to $5.8 million, or 75 cents per diluted share, from $4.3 million, or 55 cents per diluted share, during the same period last year. Its net income increased 53 percent from $3.6 million, or 49 cents per diluted share, to $5.5 million, or 71 cents per diluted share, during the second quarter of 2018. For the nine months ending June 30, Southern First said its net income

available to common shareholders was $16.5 million, or $2.13 per diluted share, a 50 percent increase compared with $11 million, or $1.50 per diluted share, during the same period last year. Southern First said its total revenue increased by 3.7 percent to $18 million during the third quarter, compared with $15.9 million the year before. “I am proud of our Southern First team and our third quarter results as we report record earnings and loan growth for the quarter,” Art Seaver, Southern First CEO, said in a news release. “Our team continues to build and develop client relationships in each of our markets, generating strong momentum as we finish out 2018.”

FOR MORE INFORMATION, VISIT WWW.SOUTHERNFIRST.COM.

Art Seaver

CEO of Southern First Bank

QUARTERLY HIGHLIGHTS • Total loans increased 22 percent to $1.62 billion during the third quarter of 2018, compared with $1.33 billion during the same quarter a year ago. • Total deposits increased 18 percent to $1.59 billion during the third quarter, compared with $1.34 billion during the same quarter a year ago. • Total core deposits, which exclude outof-market deposits and time deposits of $250,000 or more, increased 20 percent to $1.39 billion during the third quarter, compared with $1.16 billion during the same quarter a year ago.

Photo by Will Crooks

• Net interest margin remained at 3.6 percent during the third quarter compared with the same quarter a year ago.

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PHOTOGRAPHY BY RED APPLE TREE PHOTOGRAPHY

SPENCER/HINES PROPERTIES Bobby Hines started his career in retail, then enjoyed success in the

client with the big deal. We call people back and let everyone know they’re

textile industry, but commercial real estate and investing had long been a

important. My goal is for everyone at Spencer/Hines to serve their clients

passion of his. His first investment was the Main Street building where he

with a heart. Be sincere, compassionate, kind and to let their clients know

and his father once ran O’Neal Williams Sporting Goods. He and his brother, Ben Hines, bought the building from their dad and his partner, Alva Phillips, in the late 1980s and put Greenville’s first Fuddruckers in it. Bobby continued to invest over the years with Ben, president and co-owner of Spencer/Hines Properties in

our values each and every day.”

“We think the client with the small deal is just as important as the client with the big deal.”

Spartanburg. After leaving the textile industry Bobby

The Spencer/Hines team is made up of eight experienced commercial agents - including Bobby’s son, Zach, and daughter, Evan - each of whom specialize in providing property owners with hands-on, highly attentive service rooted in Christian values. Rounding out the Greenville team are brokers Taylor Fisher,

decided to pursue commercial real estate full time, and he and Ben opened

Jay Stephens, Jason Klue, Glenn Batson, and Matt Foster Sr., whose son,

the Spencer/Hines Greenville office together in 2014.

Matt Jr., runs the property management division.

“We don’t specialize in one aspect of commercial real estate,” Bobby says.

Bobby says about his team, “We are a close knit group of agents, and enjoy

“We want to service our clients in every way we can with their commercial

working together. We look forward to bringing anyone interested in working

real estate needs. There are many moving parts in commercial deals, and

with us on their commercial real estate needs into our Spencer/Hines family.”

deals can be structured in a variety of ways. It is our job to help guide our clients in the best direction to get the deal done.” Spencer/Hines is a full-service company, dealing in land, industrial, office and retail sales and leasing, as well as offering a full range of property management services at highly competitive rates. “We’re deal makers and we like to get creative. We’re always looking for ways we can think outside the box to make the deal happen,” Bobby

245 North Main St., Suite 201, Greenville

says. “We think the client with the small deal is just as important as the

864.991.8077 | spencerhines.com


INFORMATION YOU WANT TO KNOW

| NEWS

ECONOMIC DEVELOPMENT

TruColor acquires Greenville Office Supply print division ANDREW MOORE | STAFF

amoore@communityjournals.com Greenville-based commercial printing company TruColor has acquired the print division of its longtime competitor, Greenville Office Supply. The acquisition will allow TruColor to increase its sales while continuing to grow and reinvest in the company, according to a news release. Financial details were not provided. TruColor plans to onboard all employees from the print division of Greenville Office Supply and purchase new equipment, including an offset press, platemaker, and digital press, in order to cater to its newly expanded list of customers, according to the release. “With this acquisition, it was su-

premely important that we offered employment to all GOS print shop employees,” said Ray Truluck, owner of TruColor, in the release. “Customers should continue to get exactly what they expect. We hope to provide a higher level of printing expertise with our expanded sales force.” Charles Scales, owner and CEO of Greenville Office Supply, said his company is “narrowing our focus on our fastest-growing sectors: janitorial supplies, promotional items and apparel, furniture, coffee service, and of course, office supply products.” “Our business has been a part of Greenville for 50 years, and with my three sons working here, we are committed to another 50,” Scales said. For more information, visit www. trucoloronline.com.

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COMMERCIAL REAL ESTATE QUARTERLY ISSUE

BEYOND THE SALE

G R E E N V I L L E AT H L E T E S TA K E O N CO M M E RC I A L R E A L E STAT E STORY BY SARA PEARCE photo by WILL CROOKS

D

etermination, discipline, a competitive spirit, and adaptabil-

ity. These are traits that any competitive athlete would say are crucial to their success. But how do athletes use these traits after their career in sports is over? Chris Butler, Michael Spiers, and Trey Pennington applied these traits to a career in commercial real estate. As athletes who achieved a high level at their given sport, each was driven to keep winning once their time competing was over. The parallels between competitive athletics and commercial real estate are abundant, and the careers that they are building are a testament to that.

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UBJ | 11.09.2018


COMMERCIAL REAL ESTATE QUARTERLY ISSUE

CHRIS BUTLER Butler, originally from Hilton Head Island, has always had an eye for numbers. “I’ve always liked numbers and looking at real estate commissions. I got into investing before I graduated. I’ve always had my hand in real estate a little bit,” he says. Butler attended Furman University on the Hollingsworth Scholarship, but his business goals were set aside for a newly discovered passion: cycling. As he started biking more and more, he realized that he had an opportunity to follow the sport into a career. Since graduating Furman, Butler has raced on teams all over the world including BMC Racing Team based in Switzerland, Team USA, and many more. He has traveled to 40 countries for cycling and spent years living abroad and pursuing his passion for biking. As he began slowing down, Butler wanted to reassess the time he spent away from his family and get back into business. Butler has spent the last year working as a broker with KDS Commercial Properties. “As an endurance athlete you are so hungry to achieve, and you don’t want

PROFESSIONAL

competitive cycler 2009-2017

to be capped at anything,” Butler says, “Going up a mountain and you can always get better. Even if it takes a year to get 2 seconds faster. There is no limit and it’s the same thing in real estate. You can do as much as you want, I love that.” Butler also explains the parallels between the type of teamwork it takes to be successful in both worlds. “When someone closes a deal maybe it’s his time to shine right now and it’s the same thing with cycling,” he says, “It’s not like a team sport where everyone wins after the soccer game, one person got the win today but the whole team helped and supported that and then tomorrow someone else will get the win. It’s the same here in the office.” Butler was a specialist in climbing hills, which only accounted for about 5% of races, “I had to figure out a way to help the other guys shine by being supportive and positive and doing what I can,” Butler says. “It’s the same thing here, maybe I’m doing a deal but I’m coming to others for help even if they don’t get much back from it. We have that team environment.”

ATHLETES

in Commerical Real Estate Photos Provided

EMMITT SMITH football Smith was selected in the first round of the NFL draft to the Dallas Cowboys and still holds the record for most career rushing yards in the NFL. Since his time in the NFL, he has bought and sold over 1,000 multifamily units in one market alone. (Philly)

OSCAR DE LA HOYA boxing

Hoya has a 36-9 record with 30 knockouts, 10 world titles, two Olympic gold medals and is considered one of the most popular fighters of his era. In 2005, he established Golden Boy Partners, which focuses on urban development in Latino communities.

JOE MONTANA football Arguably one of the best quarterbacks of all time, Montana led the San Franscico 49er’s to 4 super bowl trophies. Now, he heads a real estate development group, the Montana property group, known for the Santa Clara Centennial Gateway, a $400 million luxury hotel and entertainment development near the 49’s stadium.

ride on Chris Butler, a competitive cyclist of 10 years, is setting his sights on commercial real estate working with KDS Properties. n photo by WILL CROOKS

MO VAUGHN baseball

Vaughn spent 13 years in the MLB playing for the Red Sox, angels and the Mets. Vaughn hit 328 home runs with 1064 RBI’s. Vaughn’s company, OMNI New York has renovated and manages over 7,000 affordable housing units in New York, Miami, Boston and more.


COMMERCIAL REAL ESTATE QUARTERLY ISSUE home run Michael Spiers traces back many of his most successful qualities to his years playing baseball at Clemson University. n photo by WILL CROOKS

MICHAEL SPIERS

Clemson University Baseball, 1988-1991

Michael Spiers came from a family of Clemson baseball players, his father, brother, and son have all been a part of the same team in their lives. As an outfielder, Spiers was on one of Clemson’s most talented teams in recent history, winning two ACC championships (1989 and 1991), was MVP of the tournament in 1991, and went to the College World Series that same year. Spiers knows the lessons that baseball have done him well in his 25-years career with Windsor Aughtry. “It takes dedication and adaptability. In commercial real estate, you have to adapt to your clients. You have to look at governmental agencies, engineers, attorneys, architects. You are always having to change your mindset and adjust,” Spiers says, “You have to be a good listener, in most things in life. You have to be able to take criticism and realize that

you can’t do it on your own. You have to be able to listen to your clients and understand their goals. You have to do that in baseball and adapt from outfield to running bases and more.” Spiers stresses the importance of relationships as well, “I have to build relationships that go past one transaction. You of course build relationships with your teammates too and have relationships that last forever. It is what makes you successful. That’s the ultimate goal.” Timing is everything in commercial real estate, and patience is crucial to Spiers, “It takes a long time to put a deal together. Nothing happens overnight. It made the transition for me easier because you’re getting better every day even if you don’t see it in baseball, and you may not see all of those things you are working on daily to make that deal happen.”


COMMERCIAL REAL ESTATE QUARTERLY ISSUE UCW LOGISTICS

TREY PENNINGTON University of South Carolina Tight End, 1999 Pennington grew up at avid Clemson football fan from Anderson but didn’t realize that playing football in college was an option until he was offered the chance to play at the University of South Carolina. “It was a business decision, and it was a good fit for me in terms of academics. Football had been good to me, but I knew I wanted to use it to do something bigger,” Pennington said. He studied business at USC and went on to earn his law and MBA degree from USC as well. Pennington hoped to pursue accounting and law and eventually realized that he wanted something more entrepreneurial. “I wanted to be dealing with people a little more and I wanted something where the harder I worked the more I could get out of it,” Pennington said. Now, Pennington is senior vice president of CBRE in Greenville and focuses on industrial services.

“A career in real estate is humbling,” he says, “When you grow up playing sports, not everyone can be the quarterback or super-star receiver. Everyone plays a role and I think it’s important to embrace that and that’s true for real estate as well. You need to embrace that role and grow in that role.” Pennington says that football taught him many lessons that have applied to his career, and life in general. “You have to work with different types of people and work towards a common goal,” he says, “You have to learn how to be knocked down and get back up and learn to do the things that aren’t always fun but contribute to your goal. That self-discipline is critical. If you can take those things that football has to teach you and apply those to business, then you will be successful.”

www.CarltonMB.com (864) 213-8000 2446 Laurens Road Greenville, SC 29607

| COVER

work hard, play hard The lessons that Trey Pennington learned during his time playing tight end at the University of South Carolina gave him the building blocks he needed for a successful career in commercial real estate. n photo by WILL CROOKS


COMMERCIAL REAL ESTATE QUARTERLY ISSUE

RETAIL RATES ON THE RISE

STORY BY ARIEL TURNER and SHERRY JACKSON photo by WILL CROOKS

A

As downtown Greenville’s core continues to mature, there are bound to be growing pains. Businesses relocate downtown and then close or move to the suburbs. Restaurants and retail shops open and then seemingly close unexpectedly. Why? Is it that rent is too high along Main Street? Is it an inability to find good — or enough — employees? Can Mom and pop shops make it along with regional and national chains? Or, is this all just part of a regular cycle? “We are still seeing the local restau-

rant and retail concepts calling Main Street home, but we have observed more and more out-of-market concepts entering downtown,” says John Odom, a senior associate broker with Avison Young. The reasons for that are varied, he says. Odom works side-by-side with Rakan Draz, also a senior associate broker with Avison Young, specializing in tenant representation — meaning they are acutely aware of the challenges that face local retailers and restaurant owners as they seek to open

business downtown. From lease negotiations with landlords seeing nearby comps at more than $35 per square foot, to understanding how drastically even the smallest square-footage increase can impact profit margins, Odom says it’s difficult to label one factor as an indication of success or failure. A main cause for budgetary increases, however, for both tenant and landlord is construction costs. “Downtown has seen a rise in rents and construction costs over the past few years,” Odom says. “It is more ex-

pensive than ever to build a restaurant space, which means higher overall initial costs for both the tenant and landlord. Restaurateurs should think the less square footage, the better, and design the most efficient floor plan possible to maximize customer experience and sales.” Additionally, Draz says he and Odom work with landlords and tenants regularly to find solutions that create a win-win scenario. “It’s up to both landlord and tenant to work together at finding a middle ground during lease negotiations,”


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COMMERCIAL REAL ESTATE QUARTERLY ISSUE

HOW DO SIMILAR CITIES IN THE REGION COMPARE? GREENVILLE

VACANCY RATE: 5.6% AVERAGE MARKET RENTAL RATE: $23.83 PSF

Numbers based on CoStar Q2 Report

Nashville

Charleston

Austin

VACANCY RATE 3.5%

VACANCY RATE 4.2%

VACANCY RATE 4.2%

VACANCY RATE 5.4%

RENTAL RATE $23.50 PSF

RENTAL RATE $22.48 PSF

RENTAL RATE $22.03 PSF

RENTAL RATE $11.89 PSF

“Nashville’s retail market is extremely hot and competitive for both dirt and shop space,” says Drew Wagner, broker at Colliers. “Recent trends in food and beverage have shown a shift from momand-pop establishments to both local and regional hospitality groups.” Nashville’s vacancy rate is around 3.5 percent with an average market rental rate of $23.50 PSF.

Downtown Charleston is South Carolina’s number one tourist attraction, so it’s no surprise that rental rates are high at $49.63 PSF. But Charleston’s retail boon isn’t just downtown. Areas including Mount Pleasant, North Charleston, Summerville, and other neighborhoods are all experiencing growth with an average vacancy rate of 4.2 percent and average asking retail rent of $22.48 PSF.

Many compare Greenville to Austin and look to the city as where Greenville is headed. According to NAI, the “retail market fundamentals are on fire,” with occupancy at 95.8 percent and 366,000 square feet absorbed in Q2 2018, down slightly from the previous quarter’s 424,000 square feet. Retail rental rates in the Austin market are at $22.03 PSF for the metro area and $27.09 PSF in the central business district.

Columbia

Our state capital has been having its own downtown renaissance but is still somewhat affordable – at least for now. The average retail rent is at $11.89 PSF, reports CoStar, with 95,469 square feet of retail space under construction as of mid-year 2018. The retail vacancy for the second quarter of 2018 came in at 5.4 percent.

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COMMERCIAL REAL ESTATE QUARTERLY ISSUE

“WE ARE STILL SEEING THE LOCAL RESTAURANT AND RETAIL CONCEPTS CALLING MAIN STREET HOME, BUT WE HAVE OBSERVED MORE AND MORE OUT-OF-MARKET CONCEPTS ENTERING DOWNTOWN.”

JOHN ODOM

senior associate broker, Avison Young Draz says. “If landlords are presented with a qualified operator that has a solid concept in tow, then an incentive in the form of ‘free rent’ or tenant improvement allowance could help compel a prospective tenant’s ability to pursue a longer term lease while making it easier to pay the current rates we are seeing in the CBD.” As for restaurant closings, Odom says multiple factors come into play. “There are more people downtown than ever before but also more restaurant competition,” he says. The downtown vacancy and lease rates alone don’t tell the whole story, as they fluctuate depending on when they are gathered and reported, but

they can help springboard a discussion about the climate of retail and restaurants in Greenville’s central business district. As of second quarter 2018, downtown Greenville’s retail vacancy rate was at 7.4 percent, according to CBRE, a commercial real estate investment and services firm. That’s higher than it’s been since 2011. But the number has dropped in Q3 closer to 4 percent, according to CoStar, a commercial real estate information company. At the same time in Q2 there was also 186,506 square feet of vacant retail space, which is also the most since 2011. The average retail rent in Q3 is sitting around $22.6 PSF but is still way above

the $13-$14 PSF average of 2011. CBRE says 39 percent of tenants downtown are restaurant or food-service retailers. “I think the most important statistic to look at is the rise in rental rates in downtown Greenville versus tracking the vacancy rates,” says Tommy Molin, vice president, CBRE. “When you look at vacancy rates, available space is tracked as soon as it is being marketed. There is a lot of retail space under construction in new mixed-use projects that takes several years to complete. More importantly, much of this retail space is already pre-leased but announcements are normally made several months later or once project is

nearing completion which can cause an increase in the vacancy statistic.” More and more regional and national players are eyeing downtown’s celebrated Main Street because of multiple factors, while our average lease rates in the low-to-mid $20s are inching near those of larger markets, such as Nashville, Tennessee, and Austin, Texas. “Greenville is on the map,” Odom says. “The quality of life and the approachability of our downtown is attractive for locals and tourists alike. Downtown is a logical landing spot for national and regional tenants to consider when choosing a location in the Greenville market.”

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COMMERCIAL REAL ESTATE QUARTERLY ISSUE

DEVELOPMENT WILL HELP SPARK DOWNTOWN CHANGE

Photo provided

STORY BY NEIL COTIAUX It’s nowhere near completion. But Camperdown, the “live, work, play” development spearheaded by Centennial American Properties at South Main and East Broad streets in Greenville, will serve as the thread that binds nearby streetscapes together in new and interesting ways, according to Centennial CEO David Glenn. Glenn, an early proponent of the adaptive reuse of historic mills and a leading figure in the creation of Fluor Field, has already seen how cutting-edge projects can transform commercial and civic activity in adjacent neighborhoods. 20

UBJ | 11.09.2018

Scheduled to open in the first half of 2020, Camperdown will feature a 196-room AC Hotel; an office tower topped by 18 luxury condominiums overlooking the Liberty Bridge; 217 apartment units; 170,000 square feet of office space; 80,000 square feet of retail; and a 609-space parking garage, according to updated project figures. The off ice tower has been christened “Falls Tower” and a logo for the entire complex has just been released. Camperdown will also feature the largest public plaza in the city’s history, “probably three times larger than any plaza we have in Greenville right

now,” Glenn said. The entire project is rising in stages on a 4-acre site, with The Greenville News now relocated within its footprint. “There’s a record we hold for highest per-acre price ever paid in downtown Greenville” — $13.25 million — “so we had to make very good use of it,” Glenn said recently in reviewing the project’s breadth and potential impact. Glenn and his investors said they are pleased that interest among key tenants is accelerating. While not naming names, Glenn and project manager Jason Tankersley confirmed that one

national company has signed a lease to open a regional office at Camperdown and that a firm with an international footprint will bring a “shared-workspace environment” to the complex. “Their model is very attractive to a millennial, entrepreneurial-type base, and we’re designing the space around them,” Tankersley said. “They’ve done this in major markets all over the country.” As previously announced, Bank of America has already signed a long-term lease and will consolidate its current offices at 101 N. Main St. and 300 N. Main St. into Camperdown.


COMMERCIAL REAL ESTATE QUARTERLY ISSUE 3-D rendering The Camperdown development will include a hotel, office tower with luxury condominiums, apartments, retail space, and a parking garage. n rendering provided

11.09.2018 | upstatebusinessjournal.com

21


COMMERCIAL REAL ESTATE QUARTERLY ISSUE

view from the top Camperdown, a live, work, and play development at South Main and East Broad streets, is expected to open in the first half of 2020. Condominiums will overlook the Liberty Bridge. n Photo by COREY MESSER

As for retail, “These tenants are more food and entertainment-type tenants that would go along with a plaza … but as far as being complete ‘destination’ tenants where you go for a specific reason to that place to shop, I don’t know that there’ll be that many of those,” Glenn said. “Retailers usually don’t like to go out front, especially in these times, and I refer to these times because of Amazon and things like that,” he explained; yet, he said, “we’re well down the road with probably half of our tenants.” On the food front, plans call for Falls Tower to house two restaurants, each at about 10,000 square feet. Elsewhere on the site, Larkin’s Restaurants has signed for a location in the new Greenville News building.

FROM MALL TO NEIGHBORHOODS

Glenn founded Centennial American Properties in 1976 after getting his feet wet on the Haywood Mall project while working for Thomas Cousins, a developer who shaped much of Atlanta’s skyline. For Haywood Mall, “I assembled all the land, I did zoning, permitting, and I got to learn a lot from a really professional guy,” Glenn remembers. 22

UBJ | 11.09.2018

After stepping out on his own, Glenn’s leadership on such projects as the SunTrust/GHS building, the Erwin Penland buildings, The Lofts at Mills Mill, and Fluor Field helped introduce fresh development concepts to Greenville as it evolved from a quiet Southern town into a modern Southern city. The SunTrust and EP buildings, the first big projects done off Main Street, were game-changers. “I think now you see people going to Academy Street and off of Main Street, not just Main Street, because things can be successful,” Glenn observed. “I think it was important to do that.” In 2004, Centennial converted Mills Mill to condominiums, accenting living space with 16-foot ceilings, 9-foot window bands, heart-of-pine beams, and exposed red brick walls, and in the process made subsequent conversions of textile mills and properties around them more viable. “That helped start a trend, and I was very proud of that,” Glenn said. Brick became his signature of sorts. When Whole Foods Market collaborated with Centennial for a store on Woodruff Road, Glenn’s vision included the reuse of about 50,000 bricks from former mills to recognize the textile industry’s importance to the region.

David Glenn CEO

Centennial American Properties

Still more bricks were trucked in for The Field House and stadium at Fluor Field. The Fluor projects helped neighboring properties in and around the West End take off, more so than he expected. “Putting the baseball field downtown, it wasn’t just a baseball field. It’s an entertainment venue,” he said, looking back. “The one thing I did not expect, and this goes back to the SunTrust building, is that I didn’t expect for Academy Street to begin to develop like it has up this way and Markley Street to develop the way it has … I had many opportunities to invest down Markley Street and on Academy Street and I didn’t,” he said. As for Camperdown’s impact, “I think this is really going to cause a huge effect on all the property from the apartments and where Bou-

haroun’s [wine and spirits store] is to Church Street, and there’s a lot of property there. … I think that area is going to blossom,” the veteran developer said. Even now, though, with a shiny new centerpiece of commerce emerging in downtown and with more than 7 million square feet of commercial space developed across 10 states, Glenn’s mind wanders back to what once stood at Main and Broad. “My grandmother, grandfather, and my mother, my aunts, uncles all worked at Camperdown Mill and lived 200 yards from that on the other side of Church Street,” said Glenn, now 72. That mill village, he added, represented the “live, work, play” environment that Camperdown will now try to create for future generations. In announcing the project’s new logo, Glenn released a statement that said in part, “We believe this mark not only relates to the important textile history of this city and this specific property, but also represents our goal for this new development to further weave together Greenville’s vibrant downtown.”


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COMMERCIAL REAL ESTATE QUARTERLY ISSUE

WHAT ARE THE

ODDS?

You never know what an impromptu chat with your neighbor will lead to. In the case of Mike Kiriakides, principal with KDS Commercial Properties, meeting his neighbor’s son-in-law at the mailbox two and a half years ago eventually led to the formation of the development team on the $1 billion County Square development project announced in April, said Mark Masachi, also principal with KDS. The team includes developers The Georgetown Company (New York City) and its Atlanta affiliate RocaPoint Partners, architects Foster + Partners and Wakefield Beasley & Associates, and Greenville-based commercial real estate firm KDS. “KDS introduced us to this opportunity, and then was a part of the public process that ultimately awarded our team this incredible opportunity,” said RocaPoint Partners principal Phil Mays. Masachi said it was that chance meeting at the mailbox between Kiriakides and Patrick Leonard, another RocaPoint principal, that

CHANCE MEETING OF NEIGHBORS LEADS TO FORMATION OF COUNTY SQUARE DEVELOPMENT TEAM

led to a continued relationship between the two firms. As Masachi traveled to NYC to see his daughter at New York University, he became familiar with Georgetown projects in the city and was impressed with their work, so when the request for proposal was sent out by Greenville County for bids on the County Square project, Masachi knew instantly who should get the job. “This is a dead-ringer. These are the guys,” said Masachi, who is handling KDS’s involvement. The team is now responsible for the transformation of the nearly 38-acre county government office site that was once home to Furman University and Bell Tower shopping mall. The site is roughly a third of the size of the entire city of Greenville Central Business District. As part of that team, KDS is the only local firm involved at the highest level, and serves as boots on the ground for Georgetown and RocaPoint. Because of KDS’s singular focus on the Greenville market, it gave KDS the ability to bring together the

Conceptual renderings by Foster + Partners 24

UBJ | 11.09.2018

STORY BY ARIEL TURNER

firms it thought would present the best plan for the expansive project. “KDS, being a small boutique firm, gives you the opportunity to go out and look for the equity and the expertise to put in to an opportunity such as this,” Masachi said. KDS is also helping with prospect recruitment, working with various local, state, and regional economic-development entities to ensure the location is on their radar for corporate relocations and regional-headquarter relocations, Masachi said. Masachi said that without KDS’s involvement, RocaPoint and Georgetown wouldn’t be involved, but he’s confident this was the right decision for Greenville. “We specifically targeted them,” he said. “We did not put this in front of anyone else. I felt that level of comfort with them being a 20-plus-year resident of the community. You didn’t want somebody to come in here and fail. That would be the worst thing that could happen. Looking at their history and the depth that they had, I’m very comfortable with it.” Now, some additional Greenville

players with investments in the community have been named. Mays says RocaPoint Partners is pleased to work with additional Greenville firms on this project. “Based in Atlanta, our team continues to have a steady presence in Greenville during this crucial time of planning,” Mays said. “We are moving forward in the design phase with London-based Foster + Partners, and land planning with New York-based Cooper Robertson, selected for the urban design component. We have also enlisted amongst others, the Greenville office of SeamonWhiteside, a leader in environmentally conscious engineering, as well as Smith Moore Leatherwood for local legal needs. “Through all of these local and international partnerships,” Mays continued, “we are all focused on creating something genuinely special for the residents of Greenville, as well as contributing to the already-robust local economy. Each partner is hand selected for their experience, commitment, and most of all, their ability to deliver the very best to this project.”


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Newmark Grubb Wilson Kibler Shakes Up CRE in the Upstate

N

ewmark Grubb Wilson Kibler recently reorganized its Upstate office, bringing two new managing directors and four additional brokers to the market. Edward Wilson joined the firm last year as a managing director after serving as vice president of Cushman & Wakefield Thalhimer’s Greenville office. In May, Givens Stewart, SIOR came on as an equal managing partner after serving for 17 years at Colliers International, where he received numerous accolades and honors, including the Walter M. Keenan Award for his performance in the industrial sector. Wilson and Stewart have grown Wilson Kibler’s presence in the Upstate at an astronomical pace over the last 12 months, brokering (leasing and sales) over 675,000 SF of commercial space and adding five professionals to the office.

Wilson says, “We have a wealth of education and innovation in advanced materials, automotive design, manufacturing, aviation, bioscience and technology. These resources, coupled with a strong transportation system and supply chain channels, make us apt for growth. Not to mention the fact that the average cost of office space is approximately 25% below our neighbors in Atlanta and Charlotte and 28% below the national average. We are currently working with a firm relocating 300 new jobs to Greenville from other cities.” Corporate headquarters such as Michelin North America, TD Bank, Hubbell Lighting, JTEKT North America and AVX Corporation provide ever-growing employment pools. Greenville has the highest per capita engineering population in the country, supported by employers such as General Electric, Flour Corporation, Jacobs, Wood USA, Honeywell, O’Neal, Day & Zimmerman, Bosch and previously mentioned BMW and Lockheed Martin.

Wilson Kibler is an independently-owned and operated affiliate of Newmark and London-based Knight Frank. The Upsate’s natural beauty and superior quality of life Newmark Knight Frank employs nearly 16,000 real estate professionals in roughly 430 offices spanning six Givens Stewart, SIOR and Edward Wilson will continue to draw employers to the region, Wilson says. Thanks in large part to its natural features, including lakes, continents. Wilson Kibler’s brokers, working alongside rivers, mountains and wooded landscape, the area sees growth in tourism international Newmark Knight Frank experts, advise on complex commercial year after year. real estate matters across all sectors, including office, industrial, retail, multifamily, hospitality and agricultural land. According to Wilson, “Municipal leadership does an excellent job of capitalizing on our natural resources by providing beautification and management of our According to Wilson, there are many benefits for firms to locate in the Upstate. major public spaces – like connecting our park system through the convenient The Greenville-Spartanburg area currently hosts more than 90 Fortune 500 Swamp Rabbit Trail. The Greenville Zoo, Upstate Children’s Museum, Fluor companies and over 20 regional headquarters. Wilson credits four factors Field, Peace Center, Bon Secours Arena and Parris Mountain State Park offer for the region’s success: education, research and development, economic limitless activities for any family, rain or shine. For any person or company, support provided by state and local partners, and quality of life. the Upstate is a wonderful place to call home.” The Upstate offers a diverse mix of primary school options that encompass STEM based curriculum, fine arts, languages and international studies and feed into well-respected universities like Clemson, USC Upstate, Wofford, Converse, Anderson University, Presbyterian College, Furman, Bob Jones, North Greenville University, Southern Wesleyan and Greenville Technical School. These educational institutions provide a talented workforce by 420 The Parkway, Suite K, Greer, SC 29650 offering programs that can be tailored to meet the demands of advancing technical employers in the region like Michelin North America, GE, Magna, 864-679-8600 | wilsonkibler.com Lockheed and Proterra, to name a few.


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Frank Dupree, CCIM

Hunter Garrett, CCIM NAI Earle Furman hgarrett@naief.com

Frank Hammond, CCIM

Colliers International frank.hammond@colliers.com

Ben Hines, CCIM

B. Greg Huff, CCIM

Keith Jones, CCIM

Vista Capital Management Group AMOÂŽ fdupree@vistacm.com

Spencer Hines Properties benhines@spencerhines.com

Joyner Commercial ghuff@joynercommercial.com

Mark Massachi, CCIM

Laurens Nicholson, CCIM

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Matt Carter, CCIM

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office at Patewood for sublet All addresses are Greenville unless otherwise noted.

Matt Carter was agent in the lease of 1,281 square feet of flex space at 221 Cooper Lane Suite B in Easley.

JOYNER COMMERCIAL

Matt Carter and Steve Greer were agents in the lease of 300 square feet of office space at 24 Vardry St.

Nelson Garrison was agent in the sale of 1.58 acres on Mauldin Road to QuickTrip Corp. Matt Carter was agent in the lease of flex space at 223 Cooper Lane in Easley to Leaf and More LLC.

Matt Carter and Graeme Milley were agents in the lease of 1,200 square feet of office space at 1924 Pearman Dairy Road in Anderson.

Ernest A. Crosby was agent in the sale of an office space at 2728 Poinsett Highway.

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Nelson Garrison was agent in the sale of 1.35 acres on Brushy Creek Road in Easley.

Pete Brett, David Sigmon, and Matt Vanvick were agents in the sale of an 1,150-square-foot medical office building at 24 Potomac Ave. by Michelle Reeves to Dentlab LLC.

Pablo Pena was agent in the sale of a multifamily building on West Floyd Baker Boulevard in Gaffney. Bryon Culbertson was agent in the lease of a retail space in Cherrydale Shopping Center to Molly and Myles Ice Cream. Hope Tz Schmalzl was agent in the lease of an office building at 1352 N. Pleasantburg Drive. Michael Joseph and Graeme Milley were agents in the sale of 8,600 square feet on Grand Road in Landrum, by Carolina Bay Holding Co. LLC. Bryon Culbertson and Michael Joseph were agents in the sale of 30,000 square feet on 10.2 acres at 555 Old Piedmont Highway by Vinyl Properties Inc. to The Greek and the Sheik LLC. Ernest A. Crosby was agent in the sale of 32,000 square feet at 101 Pelham Davis Circle by Jason Industrial Inc. to Augusta Arbor Inc. Bryon Culbertson was agent in the sale of a warehouse and 11.56 acres at 1089 Park West Blvd. by Grove Associates LLC to Old Republic Exchange Co., Intermediary for Brabham Oil Co. Inc. Nelson Garrison and Steve Greer were agents in the lease of 38 Boland Court by Home Comfort Solution. Matt Carter and Steve Greer were agents in the sale of a 12,000-squarefoot office building at 68 Pointe Circle. Matt Carter and Graeme Milley were agents in the lease of 2,225 square feet of office space at 1924 Pearman Dairy Suite C in Anderson. Pablo Pena was agent in the sale of 800 square feet at 3614 Parris Bridge Road in Boiling Springs.

Pete Brett, David Sigmon, and Matt Vanvick were agents in the sale of an 8,512-square-foot industrial building at 104 Grant Road in Landrum by Carolina Bay Holding Co. LLC to Dillon Holdings of South Carolina LLC.

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Sammy Dubose and Charles Humphreys were agents in the sale of a 7,900-square-foot retail building at 602 Anderson St. in Piedmont by D.B. McCauley to Luigi Cerullo, leased to Dollar General. Tim Satterfield was agent in the sale of 1.2 acres on South Pine Street in Spartanburg by Michael A. Scardato to Ray D. Blackwell.  Tim Satterfield was agent in the sale of a 16,000-square-foot industrial building on 11.2 acres at 475 Burns Road in Spartanburg by TNT Realty LLC to Priority Rental Properties LLC. Wiley North was agent in the sale of a 900-square-foot office/retail building at 1941 Cannons Campground Road in Spartanburg by Mark D. Naquin MD to Brian T. Boyle. Pete Brett, David Sigmon, and Matt Vanvick were agents in the lease of 925 square feet of office space at 413 Vardry St. by PAH III LLC to Splash on Main LLC. Matt Vanvick was agent in the lease of 2,500 square feet of medical-office space at Hillcrest Professional Park in Simpsonville by Cryptomaria LLC to Breakthrough Medical LLC. Pete Brett, David Sigmon, and Matt Vanvick were agents in the lease of 1,013 square feet of office space at 3121 State Highway 153 by B & G Powersville Holdings LLC to Ron Williams. 11.09.2018 | upstatebusinessjournal.com

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Josh Tew, CCIM

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DEALMAKERS ANNOUNCING THE FOLLOWING COMMERCIAL REAL ESTATE TRANSACTIONS Tim Satterfield was agent in the lease of 3,500 square feet of office space at 11765 Asheville Highway in Inman by BH55 LLC to Atlantis Overstock. Wiley North was agent in the lease of 1,500 square feet of office space at 1090 Boiling Springs Road in Spartanburg by Askew Realty & Design LLC to Feng Lan Mao. Pete Brett and Sammy Dubose were agents in the sale of 0.99 acre at 64 Airview Drive by Central Realty Holdings LLC to Aspen Group LLC.

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Pete Brett, David Sigmon, and Matt Vanvick were agents in the sale of a 1,375-square-foot retail condominium at 101-B W. Court St. by Christopher Ashley LLC to A Reason to Dye LLC. George Zimmerman was agent in the sale of a 12,720-square-foot medicaloffice building at 1003 Grove Road by Grove Plaza LLC to Carlin Properties LLC. Pete Brett, David Sigmon, and Matt Vanvick were agents in sale of a 12,720-square-foot medical-office building at 1003 Grove Road by Grove Plaza LLC to Carlin Properties LLC. Pete Brett, David Sigmon, and Matt Vanvick were agents in sale of 3.6 acres at McCarter Road and Nash Street in Fountain Inn by Bobby Joe and Susan H. Barbre to James E. Cashion Jr. d/b/a/ JEC LLC. Tim Satterfield was agent in the sale of 1.2 acres at South Pine Street in Spartanburg by Michael A. Scardato, trustee for the Mary Louise Sistare Jordan Revocable Trust, to Ray D. Blackwell. Pete Brett, David Sigmon, and Matt Vanvick were agents in the lease of 2,400 square feet at 1820 Highway 101 South in Greer by Spinks Investments Inc. and Enigma Corp. to Brockman Automotive Service Center LLC. Wiley North was agent in the sale of 3,300 square feet at 8361 Valley Falls Road in Boiling Springs by Brenda W. Malone to Mom and Me, LLC.

Contact Derek Davis for more information.

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Tim Satterfield was agent in the purchase of an 8,000-square-foot flex building on 3.48 acres at 1396 Boiling Springs Road in Spartanburg by J.M. Smith Corp. to CM Partners LLC. Tim Satterfield and Wiley North were agents in the lease of 2,584 square feet at 900 S. Pine St. in Spartanburg by West End Properties LLC to Children’s Cancer Partners of the Carolinas Inc. 11.09.2018 | UBJ

Tim Satterfield was agent in the lease of a 5,000-square-foot industrial building at 357 South Ave. in Spartanburg by M.H. Thompson Real Estate to Michael Byers.

WINDSOR AUGHTRY CO. Lauren Nicholson, Ben Goforth, and Bobby Barreto were agents in the lease of a flex industrial building at 4472 Liberty Highway in Anderson by Flumi Properties to Baseline Motor Sports. Michael Spiers and Jay Alexander were agents in the ground lease negotiation of a Panera Bread in Simpsonville in the Martin Farm Development at Fairview Road and Harrison Bridge Road. Lauren Nicholson and Ben Goforth were agents in the sale of an industrial building at 138 Leader Drive in Piedmont by Palmetto Sports Fundraising to Diversified Properties LLC.

THE BURGESS CO. Trey Snellings was agent in the lease of 1,200 square feet at 1601 Cedar Lane Highway by Reedy River Capital LLC. Trey Snellings was agent in the lease of 1,200 square feet of retail space located at 1601 Cedar Lane Highway by Reedy River Capital. Trey Snellings was agent in the lease of 670 square feet of retail space located at 600 E. Washington St. by 600 East Washington Street LLC. Grayson Burgess was agent in the lease of 3,559 square feet at 1650 Skylyn Drive in Spartanburg by Mary Black LLC to Palmetto Infusion Services LLC. Grayson Burgess was agent in the lease of 11,400 square feet at 33 Villa Road by the Piedmont Center Owner LLC. Grayson Burgess was agent in the lease of 6,414 square feet at 37 Villa Road by the Piedmont Center Owner LLC. Grayson Burgess was agent in the purchase of an apartment complex located at 365 Keowee School Road in Seneca to Summer Time Apartments LLC. Grayson Burgess was agent in the lease of 1,450 square feet at 520 E. North St. Grayson Burgess was agent in the lease of 1,447 square feet at 1411 Laurens Road by 1411 Laurens LLC.


DEALMAKERS ANNOUNCING THE FOLLOWING COMMERCIAL REAL ESTATE TRANSACTIONS Grayson Burgess was agent in the sale of 2,400 square feet at 1601 Cedar Lane Highway by Reedy River Capital LLC.

Bobby Miller was agent in the sale of a building at 15 Main St. in Piedmont to Abiding Workspaces.

Grayson Burgess was agent in the lease of office space at 301 Halton Road to Contemporary Health Communications LLC.

Mark Ratchford and Chris Butler were agents in the lease of 1,976 square feet at 1520 Wade Hampton Blvd. to Bridge City Coffee LLC.

Grayson Burgess was agent in the lease of 900 square feet at 603 E. Stone Ave. by Beezer Molten Properties LLC to Circa Barbershop Greenville LLC.

Mark Ratchford was agent in the sale of 2,300 square feet at 509 Pettigru St. by S&H Partners LLC to Poinsett Psychiatry LLC.

Grayson Burgess was agent in the lease of 1,500 square feet at 600 E. Washington St. by 600 East Washington Street LLC to Inviro Design and Consulting LLC.

Brad Doyle and Bobby Miller were agents in the purchase of 2,300 square feet at 509 Pettigru St. from S&H Partners LLC by Poinsett Psychiatry LLC.

Grayson Burgess was agent in the lease of 2,600 square feet of retail space at 838 Powdersville Road in Easley by Garrett Properties.

Mark Ratchford was agent in the purchase of an office building at 11 Cleveland Court by Valbridge Property Advisors.

Darath Mackie was agent in the lease renewal of 3,000 square feet at 1110 W. Butler Road by Sepp Inc. to Opsource LLC.

KDS COMMERCIAL PROPERTIES

Brad Doyle was agent in the sale of an office building at 11 Cleveland Court by Valbridge Property Advisors.

Andrew Harrill was agent in the lease of 699 square feet at 2375 E. Main St. Suite 206 in Spartanburg to AssuredPartners Northeast LLC.

PINTAIL CAPITAL PARTNERS

Ashley Trantham was agent in the sale of 1.308 acres on West Georgia Road in Simpsonville by Doug Vaughn to Sound Hearing Care LLC.

Gary Kirby was agent in the sale of a 6,000-square-foot medical-office building on Howell Road to Schoen Properties LLC. Chris Butler and Mark Ratchford were agents in the lease of 7,500 square feet at 101 and 102 Leader Drive in Piedmont by 101 McNeely Road LLC to Spark Industrial Services LLC. Gary Kirby was agent in the sale of 9,000 square feet at 219 W. Antrim Drive by the Foster family to KX Antrim LLC. Brad Doyle was agent in the purchase of a facility in Charlotte, North Carolina, to Charlotte Electrical Joint Apprenticeship and Training Institute. Brad Doyle was agent in the sale of 2.7 acres off Greer Highway in Travelers Rest. Bobby Miller was agent in the sale of 6,800 square feet at 16 N. Main St. in Piedmont to Piedmont Alive LLC. Bobby Miller was agent in the sale of approximately 80 acres on Tubbs Mountain Road in Travelers Rest.

Lakin Parr was agent in the sale of 7,600 square feet on 7530 White Horse Road by Phillip C. Cahaly.

Kevin Bentley was agent in the lease of 6,000 square feet at 1310 Garlington Road by Bell, Garrett, Lathan LLC to Poe Supply Inc.

Greenville Road in Spartanburg. Tripp Sellers, David Redmond, and Trey Pennington were agents in the sale of 135 Interstate Blvd.

Chad Stepp was agent in the lease of 6,000 square feet located at 1310 Garlington Road by Bell, Garrett, Lathan LLC to Poe Supply Inc.

Trey Pennington and Marcus Cornelius were agents in the lease of 32,000 square feet at 170 Parkway West in Hillside Industrial Park.

Kevin Bentley was agent in the lease renewal and expansion of 6,500 square feet at 14 Pelham Ridge Drive Suite B and C to A3 Communications.

Charles Gouch and Blaine Hart were agents in the lease of 28,098 square feet at Two Liberty Square, 75 Beattie Place.

Kevin Bentley was agent in the sale of 9,000 square feet at 834 Piedmont Highway by JGF Holdings LLC to Adams North Port Land Holdings LLC.

Nick Hollstegge was agent in the lease of 15,000 square feet at 124 Interstate Blvd. in Pelham Davis Industrial Place. Charles Gouch, Blaine Hart, and Shelby Dodson were agents in the lease of 12,296 square feet at 2000 Wade Hampton Blvd. Tripp Sellers, David Redmond, and Blaine Hart were agents in the sale of 10,000 square feet at 123 N. Main St. Charles Gouch, Blaine Hart, and Shelby Dodson were agents in the lease of 8,955 square feet at 555 N. Pleasantburg Drive. Charles Gouch and Blaine Hart were agents in the lease of 7,542 square feet located at 55 Beattie Place in One Liberty Square.

Jeff Day was agent in the purchase of 4.11 and 4.94 acres at 3325, 3331, and 3337 Brushy Creek Road in Greer by Echo Ridge Venture LLC.

CBRE Trey Pennington was agent in the sale of 202,566 square feet at 105, 115, and 117 Littlejohn St. in Spartanburg.

Charles Gouch, Blaine Hart, and Shelby Dodson were agents in the sale of 6,808 square feet at 210 Brendan Way.

Lakin Parr was agent in the lease of 2,453 square feet at 613 Stephenson Ave. Suite 206, in Savannah, Georgia, to Early Autism Project Inc.

Campbell Lewis was agent in the sale of a 141,000-square-foot manufacturing facility at 1439 Cambridge St. Extension in Abbeville.

Charles Gouch and Blaine Hart were agents in the lease of 6,384 square feet at 55 Beattie Place in One Liberty Square.

Lakin Parr was agent in the lease of 1,500 square feet at 1010 Woods Crossing by CC&S Rentals.

Tripp Sellers, David Redmond, and Blaine Hart were agents in the sale of 61,047 square feet at 300 N. Main St.

Ryan Clark was agent in the lease of 6,384 square feet in One Liberty Square at 55 Beattie Place.

Lakin Parr was agent in the purchase of 9 acres at 1218 and 1286 Old North Laurens Road in Fountain Inn by JRG Concrete.

Trey Pennington was agent in the lease of 60,000 square feet at 690 Duncan Reidville Road in Duncan.

Nick Hollstegge was agent in the sale of 6,200 square feet at 513 W. Butler Road.

Campbell Lewis was agent in the lease of a 60,000-square-foot warehouse at 1512 Roper Mountain Road.

Charles Gouch, Blaine Hart, and Shelby Dodson were agents in the lease of 6,075 square feet at 30 Patewood Drive.

Tyson Smoak was agent in the sale of 9 acres at 1218 and 1286 Old North Laurens Road in Fountain Inn by Robin and Samuel Temples.

Mark Ratchford was agent in the sublease of office space at 880 S. Pleasantburg Drive by S&H Partners LLC.

LEE & ASSOCIATES

Mark Ratchford and Mark Massaschi were agents in the lease of 48,500 square feet at 148 Southport Road in Spartanburg.

Kevin Bentley was agent in the sublease of 88,352 square feet at 1515-A Antioch Church Road by Kimura Inc.

Mark Ratchford was agent in the sale of 15.7 acres at 1707 Locust Hill Road in Greer by Christian Outreach of South Carolina.

James McKay was agent in the sale of 0.715 acre at 108 and 110 Wardlaw St. by Akua Boyenne to Lighthouse Greenville LLC.

Trey Pennington was agent in the lease of 56,000 square feet at 400 Georgia St. in Fountain Inn. Charles Gouch, Blaine Hart, and Shelby Dodson were agents in the lease of 43,805 square feet at 535 N. Pleasantburg Drive. Shelby Dodson was agent in the purchase of 41,000 square feet located at 910 Fork Shoals Road. Nick Hollstegge was agent in the purchase of 34,925 square feet of industrial space located at 325 Old

Shelby Dodson was agent in the sublease of 5,326 square feet at 340 E. Main St. in Spartanburg.

NAI EARLE FURMAN Kevin Pogue, Chris Harrison, and Cole Morris were agents in the lease of 16,000 square feet at 119 Old Airport Road in Roebuck by 3600 South Church LLC to Schmolz & Bickenback USA. 11.09.2018 | upstatebusinessjournal.com


DEALMAKERS ANNOUNCING THE FOLLOWING COMMERCIAL REAL ESTATE TRANSACTIONS John Powell was agent in the lease of 2,515 square feet in Sullivan Square in Anderson by Christina Camille LLC to MSE Group LLC.

Andrew Babb was agent in the lease of 4,580 square feet at 155 W. Main St. in Spartanburg by Palmetto Belk to Amalia Barron.

Bill Sims was agent in the sale of 9,375 square feet at 715 Anderson St. in Piedmont by Browning Piedmont LLC to Ricky Chastain.

Earle Furman Jr. and Shannon Caldwell were agents in the lease of 2,200 square feet of office space at 531 S. Main St. in Greenville by Falls Place LLC to Watermark Advisors.

John D. Gray Jr. and Drew Stamm were agents in the lease of 7,680 square feet of industrial property at 24 Sheridan Park Circle in Bluffton by Yeargin Properties to SiteOne Landscape Supply LLC.

John D. Gray Jr. and Drew Stamm were agents in the sale of 27,100 square feet located at 2404-2406 E. North St. by Robert Yeargin to K M Ham Properties LLC.

John Baldwin was agent in the lease of 18,000 square feet at 211 Fairforest Way by Steeling Golf Cart Corp. to GVD Corp.

Tom Daniel, Scott Jones, and John Stathakis II were agents in the lease of 3,934 square feet at 100 and 124 Verdae Blvd. by Four Plus Corp. to American Funding.

Hunter Garrett and John Staunton were agents in the lease of 5,397 square feet at 117 N. Pointsett Highway in Travelers Rest by WWP LLC to Chicora Alley FH LLC.

Stuart Smith, Steve Wunder, and James Dennis were agents in the lease of 10,000 square feet at 113 Belton Drive in Spartanburg by Spartan Leasing Co. to TNT Sales.

Alex Campbell was agent in the lease of 6,414 square feet at 37 Villa Road Suite 507 by the Piedmont Center Owner LLC to Agilis Engineering Inc.

Hunter Garrett and John Staunton were agents in the lease of 6,000 square feet at 2355 State Highway 101 South Suite A in Greer by 2355 Hwy 101 LLC to Sturm Inc.

Stuart Smith was agent in the lease of 3,172 square feet at 1702 Skylyn Drive in Spartanburg by The Habib Corp. to Hanger Prosthetics & Orthopedics.

Cole Morris, Kevin Pogue, and Chris Harrison were agents in the sale of 7.04 acres on Wadsworth Road in Spartanburg by Peachwood Properties to South Tyger Properties LLC.

Keith Jones and McNeil Epps were agents in the lease of 101 College St. Suite 2-A by 101 College Street Building to Nexus Project Development Services LLC.

Keith Jones and McNeil Epps were agents in the lease of 3,339 square feet at 850 S. Pleasantburg Drive by Ramsay Warne LLC to Westat Inc.

Cole Morris, Kevin Pogue, and Chris Harrison were agents in the sale of 55.13 acres located on Cedar Springs Road in Spartanburg by LTS Associates Charitable Remainders Unitrust to Mark III Properties LLC.

Towers Rice Jr. was agent in the sale of 18,000 square feet at 265 Buds Drive in Cowpens by B&N Properties LLC to Tekna Fill Inc. Hunter Garrett, John Staunton, and

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Parks McLeod were agents in the sale of 11,000 square feet at 346 Feaster Road by Craig and Kara LLC to Lucenda Components Inc. Jimmy Wright, Ted Lyerly, and Kaki Mac Lain were agents in the sale of 17,028 square feet at 2854 Wade Hampton Blvd. in Taylors by Pete McDonald to Pintail Properties of the Carolinas. Hunter Garrett and John Staunton were agents in the purchase of 17,028 square feet located at 2854 Wade Hampton Blvd. in Taylors from Pete McDonald by Pintail Properties of the Carolinas. Stuart Smith, Steve Wunder, and James Dennis were agents in the sale of 4,000 square feet at 1824 E. Main St. in Spartanburg by First Reliance Bank to Shilpa Patel. Kevin Pogue, Chris Harrison, and Cole Morris were agents in the purchase of 9,735 square feet at 736 E. Main St. and 122 Oakwood St. in Spartanburg by 736 E Main LLC to East Main Services LLC. Keith Jones and McNeil Epps were agents in the sale of 4,945 square feet


DEALMAKERS ANNOUNCING THE FOLLOWING COMMERCIAL REAL ESTATE TRANSACTIONS at 509 W. Butler Road in Mauldin by JTB LLC to Pilzer Properties LLC.

7,750 square feet at 150 Executive Center Drive, Building 150.

FLAGSHIP PROPERTIES

Josh Tew represented the landlord in the office lease of 1,800 square feet at 21 Ellison Street to Birthright of Greenville, Inc.

Josh Tew represented the buyer, KX Antrim, LLC, in purchasing a 9,000 square-foot retail shopping center at 219 W Antrim Drive.

Josh Tew represented the landlord in the office lease of 3,200 square feet at 2421 New Easley Highway to Freedom Ministries 1, Inc.

Benji Smith represented the seller in the sale of a 30,000 square-foot industrial building at 3090 – 3094 Highway 14 to PELTWO Investment, LLC.

Caldwell Johnston represented the owner in selling a 1,250 square-foot office suite at 700 East North Street to G.H. Bobotis.

Jim Brown and Josh Tew represented the landlord in the office lease of 1,300 square feet at 148 Milestone Way, Suite D to Royal Oaks Acquisitions. Jim Brown and Josh Tew represented the sublandlord in the office lease of 1,230 square feet at 1 Creekview Court to Visiostack, Inc.

Josh Tew represented the landlord in the office lease of 618 square feet at 106 Commons Boulevard, Suite D, Piedmont to Dupre Information Services.

Josh Tew represented the landlord in the office lease of 2,500 square feet at 135 Edinburgh Court, Suite 103 to SWITCH, a South Carolina 501 (c)(3) nonprofit organization.

Benji Smith and Josh Tew represented the landlord is the office lease of 2,500 square feet at 135 Edinburgh Court, Suite 202 to McGowan, Hood & Felder, LLC.

Josh Tew represented the tenant, JDM Pioneering, LLC, in the office lease of

DEMOLITION

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SQUARE FEET |

REAL ESTATE DEALS AND DEVELOPMENTS ACROSS THE REGION

ARIEL TURNER | STAFF

FRONT ROW

aturner@communityjournals.com |

November City of Greenville Design Review Board Urban Panel

The November public hearing of the City of Greenville Design Review Board Urban Panel produced six certificates of appropriateness after three hours of discussion. Some of the agenda items required less discussion, with more clear-cut designs, and approval was granted after only a few minutes Rendering by McMillan Pazdan Smith Architecture

of discussion. The revised version of the AC Hotel by Marriott planned for the Camperdown development, however, received significant attention from the panel, and after more than 60 minutes of debate and lobbying by the applicant and supporters, approval with conditions was granted.

220 E. Broad St. A lower level renovation plan for the building at 200 E. Broad St. was presented, with the intent of converting the parking garage to rentable tenant space. On the lower level, existing louvers would be replaced with windows to match the above levels and exterior changes would match the existing structure and finishes. The applicant, Earle Hungerford of McMillan Pazdan Smith Architecture, affirmed the plans to match the materials and landscape as shown in the renderings. The building, owned by Joe Pazdan, currently houses Elliott Davis and South State Bank, among other office users.

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@arielhturner

UBJ | 11.09.2018

City planning staff recommended approval with the condition that a landscaping plan be submitted, along with a materials board and a signage plan should the current sign need altering. Panelist Danielle Fontaine said the plans were a nice improvement to the building. Panel chairwoman Carmella Cioffi agreed. “I think it’s a great improvement,” she said. A motion was made as staff recommended to approve the certificate of appropriateness with conditions, and it passed unanimously.


AC Hotel With the newest version of the AC Hotel by Marriott submitted for consideration, came a lengthy round of discussion and deliberation that resulted in a majority vote for approval, with one dissenting vote. The biggest change that posed the most problem for the panel is the addition of a bay of rooms on the south facing side of the building that would narrow the space between it and the neighboring office building from 50 feet to 40 feet. The reason that is of such concern for the panel is that it also narrows the sightlines from Main Street into the Camperdown plaza. “It’s not the vision to be that we were sold on this project,” Fontaine said. Cioffi share a similar opinion, saying the part causing her “the most heartburn” was that seven months ago when the plaza design was submitted and approved, she became invested in the promise of that wide visual approach to the plaza from Main Street. This addition would change what the entire team of city staff and panelists had worked

on for so long. “It’s a disappointment for me,” she said. The applicant, Stephen Fairley, on behalf of the owner, Auro Hotels, along with several other supporting staff, presented the plan with data to show the need for the addition in order to be a financially viable project for the local hotel developer. Adding the 22 rooms would bring construction costs from an unmanageable $350,000 per room to $310,000 per room, which is within the project’s budget, they said. Further, having conducted a solar study, the Auro team presented the video results of that showing the tower addition would not cast shadows over the entrance to the plaza as the DRB panel had previously feared. The four panelists discussed whether or not the new tower’s also narrowing the entrance from the adjacent hotel patio flex space to the plaza was a problem with the design. “The corner creates more of an interesting focal point,” said panelist Mitch Lehde. “I see merit in both. This

is actually a little more interesting from a pedestrian experience.” When Cioffi asked panelist Bogue Wallin for his input, he hesitated slightly. “I have lots of thoughts. Only a few are ready for public consumption,” he joked. He then praised the Auro team for listening to DRB feedback from the previous month’s informal review and making necessary adjustments. “We have these dimensions already in town,” he said, referring to the 40 feet in between the two buildings. “This feels ok to me. I get your point, but overall I’m receptive to this.” Ultimately, Lehde made a motion to approve the plans as submitted with the condition that the connection from the plaza to the hotel’s outdoor flex space be either disconnected or reevaluated, and that particular section of the project would need to come back before staff and two members of the DRB board for approval. Fontaine’s was the only dissenting vote.

Rendering by Overcash Demmit Architects

11.09.2018 | upstatebusinessjournal.com

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Rendering by Project Plus

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UBJ | 11.09.2018

The design of a townhome development at 109 Wardlaw St. and 4 Logan St. was approved with little debate and included a cautionary admonition from Cioffi, urging the applicant to consider the cost of the large windows the panel approved in the design. She said, as often happens, initial plans that the panel likes and approves will end up having to be revised for budgetary reasons after construction costs are evaluated. In this case the large windows in each unit were a major selling point for the design, and without them, the project would appear less interesting, she said. The project by Spencer and

Taylor Elliott of Set Capital Partners LLC includes six units that will be positioned between the Swamp Rabbit Inn and the Academy Street property that recently sold to a senior living developer. Lehde mentioned the nice brick articulation included in the design. “I think it’s a delightful project,” Fontaine said. Cioffi commented that the railings at the top in between the units bothered her because of the continuous eye line it allows, but the rest of it looks great, she said. A motion was made and passed to approve the project as submitted.

1 Augusta St. An informal review of proposed paint colors and new awnings for the three contiguous buildings at 1 Augusta St. preceded the formal review of the application to paint and redesign the awnings in the center storefront. Currently known as the Emporium, which sits between Smoke on the Water and Mellow Mushroom, the center brick storefront will receive a new

paint job and metal awnings. With that central space’s color and design now approved with the condition that the final slope of the awning return for approval by staff, the panel recommended the applicant vary the color and awning style of the two surrounding storefronts to keep with the playfulness of the design guidelines for the West End.


Rendering by Keel Concepts

405 Westfield St. Previously approved plans to renovate the former warehouse on the GHS Swamp Rabbit Trail into the Blue Ridge Brewing Company’s second location have been scrapped. Building owner Paula Rallis is now pivoting to create her own event space called

Westfield. Modifications to the previous approval that were submitted for consideration include a new painted brick exterior, enhanced landscaping, and additional store front windows. Fontaine expressed concern the practicality of the exterior Rendering by Wakefield Beasley & Associates

paint color. “White will get dirty,” she said. Cioffi agreed with the concern but it was a personal preference rather than a deciding factor. “I don’t think we can say the applicant can’t do white because of the maintenance,” she said.

A motion was approved to grant a certificate of appropriateness for the proposed plan with the conditions that the final paint color and the exterior lighting plan be submitted to staff for final approval.

Inform. Connect. Inspire. Visit us online at

UpstateBusinessJournal.com

815 & 821 S. Main St. The mixed-use project housing a non-traditional hotel, restaurant, event venue, and parking at 815 and 821 S. Main St. that was presented informally in October’s DRB meeting received approval with conditions that the developer screen the parking garage to shield residents across the street from car headlights in the parking garage and that the trash area and transformer be enclosed. Those two designs will need to be reviewed by two members of the DRB for final approval. Additionally, a lighting plan for

the parking garage, signage for store fronts, and any public artwork that would be significantly different than as presented would need to return to staff for approval. Kathy Shell, a resident who lives above the street level retail that includes Bex Café and Juice Bar, spoke during the public portion of the hearing to express her concern for the potential of car headlights pointing straight into her residence, and also the noise that could become a problem from the roof top pool and event venue.

Village of West Greenville, 581 Perry Avenue 11.09.2018 | upstatebusinessjournal.com

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DIGITAL MAVEN |

THE TECHNICAL SIDE OF BUSINESS

Has technology fulfilled the promises of 2012? By LAURA HAIGHT president, portfoliosc.com

This column is appearing exactly

six years to the day since the first one I wrote for the first issue of Upstate Business Journal. As I approached this milestone, it occurred to me how much some technology has changed in a brief time and how slow others have been to find their footing.

THE CLOUD

In 2012, cloud computing was anticipated to be the major disrupter of technology. Data centers are dead (just like desktops and Windows XP, right?), pundits wrote. They weren’t wrong about the role cloud computing would play in the changing face of busi36

UBJ | 11.09.2018

ness technology, but they weren’t right either. Large businesses, which were anticipated to be the first adopters, are still largely operating in a hybrid mode. An IDG survey of 550 large businesses found that 52 percent of the technology environment is noncloud. That surprised me since it’s cost effective and reduces management overhead and capital expenditures. But it also involves a massive commitment of people to change and get out of their comfort zones. The vast majority of implementations fail when the humanware will not adapt. Millions, possibly billions, of dollars in tech enhancements sit gathering


THE TECHNICAL SIDE OF BUSINESS

dust in corporations’ storage rooms for that exact reason. People just weren’t going to do it.

BYOD AND MOBILITY

One thing employees were happy to do is use their own phones, tablets, and laptops at work. So the bring-your-own-device movement — another anticipated disrupter in 2012 — gained a foothold quickly. BYOD policies are often hybrids with a mix of employee- and company-owned devices in use. Only 20 percent of businesses today are without some BYOD policies, according to an Oxford Research study conducted for Samsung. The BYOD good-or-bad equation seems to teeter here: Employees spend less physical time in the office and more time at home with family, but, in truth, employees never really leave the office. They just take it home with them. Still, the employee ease of adapting to a new paradigm has helped it

become standard operating procedure in the vast majority of U.S. businesses.

BIG DATA AND ARTIFICIAL INTELLIGENCE Nothing has been written about more in the tech and business press over the past six years than big data. In 2012, Inc. magazine listed predictive technology as the top tech innovation to occur in the next year. It’s true that we produce massive amounts of data points every minute of every day: All our movements, decisions, purchases, desires, and interests are trackable nearly every minute of the day. And yet only 23 percent of companies, according to IBM, have actually thought about a big-data strategy to harness and use all of that information. That’s not to say that we haven’t moved in that direction. Many companies have developed learning systems and service bots to be the

first line of contact with customers, and, of course, robotics has vastly changed manufacturing and even farming. Thanks to the internet of

| DIGITAL MAVEN

But the holy grail, the big get, remains an amorphous goal, not a tangible next step. Why? Technology has gotten out

We are reluctant to jump into self-driving cars or adapt to robotic assistants, perhaps because we fear losing control or we know too well what happens when the computer crashes at the most inopportune time. things, consumers have Siri keeping their calendars on the go, and Alexa and Google Home turning the lights on and ordering pizza. We are reluctant to jump into self-driving cars or adapt to robotic assistants, perhaps because we fear losing control or we know too well what happens when the computer crashes at the most inopportune time. And predictive technology? Well, a number of new applications are just now being released.

over its skis. A core group of visionaries can see the promise of big data, artificial intelligence, and machine learning, but most businesses are still mastering spreadsheets (see the Harvard Business Review’s October 2018 issue with 10 key Excel functions). Is it a good trend or not? Technology has boomed, certainly, in the last decade. But its growth has been constrained by one thing: It’s come down to people, people.

11.09.2018 | upstatebusinessjournal.com

37


INNOVATE |

MOVERS, SHAKERS AND DISRUP TORS SHAPING OUR FUTURE

Communities cannot flourish without success of local businesses By BRENT WARWICK

In many ways, we as a

culture have lost the idea that the success of business is tied to the success of a community. In the name of maximizing shareholder value, we outsource operations overseas. We relocate manufacturing to where labor is cheaper. We design products for planned obsolescence. We disdain our environment as we bow to the throne of convenience. And we make five-year plans rather than five-generation plans. What if the good of a business cannot be separated from the long-term common good of our community? It’s difficult to see this direct correlation in the short term. If a neighborhood or section of a city becomes derelict or even uninhabitable because of pollutants, for instance, most businesses will simply choose to relocate. That’s the most expedient solution. In the short term, that seems to make sense. But in the long term, what happens when more desirable locations become far more scarce and subsequently cost-prohibitive? When a workforce has to drive farther and farther from their homes? When our dystopian stories of warning start to become the reality that we face? That’s when we start to see the interdependent reality of businesses and communities. In general, we are so obsessed with a bottom-line-driven narrative that any discussion of purpose beyond that is seen as a “nice to have” rather than a “vital to have.” The idea that business is inextricably tied to the common good is relegated to socially conscious enterprises but not necessarily to businesses outside of that realm. What if every business recognized the reality that socially conscious businesses have been learning? Businesses need flourishing communities to meet their labor needs. And communities need businesses that value human flourishing not only to meet their employment needs, but to contribute to a community’s overall well-being. Anything short of this symbiotic relationship eventually results in a depletion of the very human resources necessary to sustain business. Unfortunately, the depletion of a community’s “human resources” is often obscured for a generation or more. Today’s partner, ipsoCreative

business leaders won’t see the full effects of their decisions that may erode the well-being of a community. We don’t necessarily have to experiment with present-day decisions to see exactly how they will play out in a generation or two. There are historical lessons we can draw from if we care to learn from them. It’s still foundationally important to create jobs that pay people. But it’s more than that. We can value the intangibles of our businesses’ interactions with our community. We can value the long-term health of people and places more than we value short-term gain. Ultimately, economies flourish when businesses flourish. And businesses flourish when communities flourish. And communities flourish when people flourish. Are we dedicated to helping people flourish?

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STRATEGIES FOR HONING YOUR PROFESSIONAL SKILLS

| PROFESSIONAL

How marketing is like battleship By CHRIS MANLEY CEO, Engenius

The game Battleship has been around for quite some time. In fact, long before Milton Bradley introduced the plastic version with pegs and plastic ships, Battleship was a paper and pen game produced under a number of different names. Now you can get the electronic version, the mini version, or even play it on an array of gaming platforms like Xbox. No matter how you play the game, the premise stays the same. You place your ships within a defined grid, with each ship taking up between two and five squares of the grid. Your opponent does the same. Once you’re both done, you begin firing at your opponent’s ships, trying to sink each one. To sink one, you must successfully fire on each square taken up by the enemy ship. To mark this on your own board, you place white pegs for “misses” and red pegs for “direct hits”. The first player to sink all of the opponent’s ships wins. Marketing is a lot like Battleship in some ways that may not immediately rise to the surface. Let me unpack that a bit.

In marketing, stay open to new ideas and new directions. This will both push you to take chances and to have another strategy in mind once your current marketing campaign sinks.

TAKE CHANCES, KNOWING THAT SOME WILL BE MISSES

In order to make a direct hit, you have to fire some missiles. A few will hit; many will not. In marketing, you have to try different things. You have to test different messaging. Not everything will work. I tell our team often that what we do is a lot like Battleship: we form an educated guess, we fire our missiles, and then we observe the result. Marketing is making guesses as to human behavior. We can do so in an educated way, but we won’t always be right and should be prepared for our fair share of misses.

WHEN YOU MAKE A DIRECT HIT, KEEP GOING IN THAT DIRECTION

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direct hit and then the next turn fire in a totally different direction for a miss. I keep guiding him to the fact that, if you make a direct hit, the ship extends out in one direction or the other a few boxes, so keep firing in that direction. The same is true in marketing: if you find a strategy that works, keep moving in that direction, even if you have to make slight changes along the way.

ONCE YOU SINK ONE SHIP, THE OTHERS MAY NOT BE CLOSE-BY

Depending on the strategy of your opponent, generally players will place their ships in various locations across the grid. Once you sink a ship, you likely should be looking elsewhere for the next one. In marketing, stay open to new ideas and new directions. This will both push you to take chances and to have another strategy in mind once your current marketing campaign sinks.

TAKE NOTE OF WHERE YOU’VE ALREADY FIRED

If you don’t put pegs in the grid to mark where you fired, you won’t know where you’ve already been in order to refine things going forward. Record-keeping in marketing is vital. As you take your educated guesses, make note of everything that is happening. Collect data like it is gold. One big advantage of digital marketing is that it’s data rich; regardless of your form of marketing, there always some level of data available.

LEARN FROM YOUR MISSES AND THINK STRATEGICALLY

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kets the service member into a sense of purpose, a sense of service to something greater than self, and a sense of family when deployments or faraway duty stations take them away. When it’s time to transition out of the military, the change can be traumatic. Leaving the comfort of the familiar — particularly when a veteran entered service straight from high school or college — means a sense of loss and feelings of vulnerability. Any level of loss can make a person feel anxious and afraid. Even if the decision to transition out is voluntary, the unknowns can be distressing both for the veteran and their family. With that loss a person experiences different stages of emotions. However, the process of moving

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A WHOLE NEW WORLD

Upon leaving the military, it’s a whole new world to veterans. No longer are certain decisions made for them, such as where they will live, what jobs they will do and even what they will wear. This new world seems full of promise, until reality sets in and the job searches go months without any results. This leaves veterans without a sense of purpose, financially stressed and questioning their worth when just a short time ago, they held one of the most important jobs: protecting our freedom. The longer this transition goes on, the more impact it has on veterans and their families. The solution? Connecting veterans to purpose through employment more quickly and more efficiently.


STRATEGIES FOR HONING YOUR PROFESSIONAL SKILLS

FINDING PURPOSE AGAIN

Veterans find themselves with amazing opportunities to pursue their passions or entirely new careers because veterans learn more than technical skills in the military. They’ve learned initiative, leadership, adaptability, and resilience. Both the technical and sof t skills gained throughout their milita r y service are transferable to a multitude of civilian occupations — not just those that match their military occupation titles. So, for a veteran who spent the past four years as a cyber operations technician but who has a passion for photography, now is the time to use those transferable skills for that passion. For employers, if you have the opportunity to inter view a veteran, don’t make assumptions based on his or her military occupation title. Make the as-

| PROFESSIONAL

sumption there are transferable skills in that veteran and do the right thing for your organization — contact the veteran for an interview. Purpose is powerful and can do much to ease the transition from military to civilian life. The path to purpose looks different for everyone. A veteran must find what he or she enjoys and use transferable skills to go after those passions. Find organizations that serve those passions, and network with others already doing the work you want to do. Know your skills profile and be proud of it. You’ve earned it. Robyn Grable is founder and CEO of Veterans Ascend, a program that matches veterans to employers based on skills. To learn more go to https://veteransascend. com/, call 864-887-5865 or email talent@veteransascend.com.

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PROFESSIONAL |

STRATEGIES FOR HONING YOUR PROFESSIONAL SKILLS

Businesses must build positive community-outreach programs By MICHELE SOBATA Founder Connexions PR

Given the rise of the Internet, social

media and the many social and political tensions around the world, it’s hardly surprising that a new study shows that 64 percent of consumers across the globe will buy, or boycott, a brand based on the stand it takes on a social or political issue. This is up an amazing 13 percent from 2017. The 2018 Edelman Earned Brand survey, conducted by Edelman, a leading global communications marketing firm, also shows that more than 53 percent believe corporate brands can do more to solve social problems than the government. I’m sure these numbers can be sliced and diced a number of ways, but believe they

show the beginning of a very real trend. Richard Edelman, Edelman president and CEO, calls it the “birth of Brand Democracy” where “Brands are now being pushed to go beyond their classic business interests to become advocates.” While I would never advise a company to go full-frontal on controversial issues, the use of public relations tactics can be a lowkey, but highly effective way to highlight the values of your company. Rather than showcasing the good that you do in a self-congratulatory advertisements, have a third party — like the media — talk about it instead. Activities from customer focus groups to press releases can yield extremely valuable results. A newspaper or TV story about how principles, and not just profit, guide your business beats tooting your own horn any day. This applies to large corporations as well as local businesses. To see what some corporations are doing

check out Engage for Good’s home page, where it says, “If you work at the intersection of purpose and profit, you’ve come to the right place.” Its news/media page features dozens of corporate “do good” campaigns, including Microsoft’s partnership with UNICEF to tackle the education needs of children and young people in the midst of conflict and natural disasters, and an innovative Inflight Recycling Program by Delta Airlines which has raised $1 million for Habitat for Humanity by recycling paper, plastic, and aluminum discarded from passengers. Obviously these programs represent causes anyone can get behind. However, Nike recently started an ad campaign featuring football player Colin Kaepernick who made headlines when, before an NFL game in 2016, he “took a knee” during the national anthem to protest racism, social inequality, and police brutality. The campaign appears to have helped Nike improve its image after national news

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STRATEGIES FOR HONING YOUR PROFESSIONAL SKILLS

outlets like the New York Times reported a hostile and abusive work environment for women. Indeed, last August two women filed a class-action lawsuit against the sports shoe and apparel company claiming pay inequality and gender discrimination. Many businesses chose less controversial themes to associate themselves with, often connected to issues surrounding their industries. For example, Duke Energy has proposed a new initiative called the “Green Source Advantage program.” If approved by the Public Service Commission of South Carolina, it will offer commercial customers more solar and other renewable energy sources. According to a news release, this is in direct response to the desires of large commercial and industrial customers who need to meet their own environmental

| PROFESSIONAL

and sustainability goals. The bottom line: More and more consumers want to know that the businesses they patronize are not destroying their environment or supporting unjust causes. Businesses that don’t communicate what they are doing to help build their communities face extinction given the growing likelihood that customers will choose to do business with companies they think do “the most good” or align more closely to their values. The use of public relations can help companies get the word out that they are doing more than simply sucking resources from their community. A smart way to do this is to hire a competent public relations practitioner who can help companies gain local and regional media coverage and build positive community outreach programs.

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Our country has recently witnessed an unimaginable display of hate. Eleven worshipers were killed at a Pittsburgh synagogue, bombs were delivered to prominent politicians’ homes as well as workplaces, and two shoppers were gunned down in a Kentucky grocery store. Our country is dramatically divided, and tensions are high. The FBI defines a hate crime as a criminal offense against a person or property motivated in whole or in part by an offender’s bias against a race, religion, disability, sexual orientation, ethnicity, gender, or gender identity. In 2016, hate crimes tracked by the FBI were 6,121, however, many claims go unreported. The Bureau of Justice Statistics estimates a more realistic number of 250,000 hate crimes per year from 2004 – 2015. As we have seen with sexual harassment, many victims chose not to report to avoid retaliation or simply because they feel their experiences will not be believed or taken seriously. Americans spend almost half of their waking hours at work. In today’s polarized world, violent hateful acts can find their way into the workplace and employers have a duty to ensure the safety of their employees. What can a company do to protect their employees and manage hate at work? • Take Action – If a threat has been made, take it seriously and investigate. Do not ignore hostile behavior and have a zero-tolerance policy towards discrimination. Management needs to be aware of what happens in the workplace and how employees, vendors, and customers interact with each other. • Review your Policies and Educate Employees – Most companies have harassment policies as well as other policies addressing social media, violence, weapons, and security. Make sure your policies are up to date and that your employees understand them. Employees need to report incidents, but it is imperative they understand the process as well as their rights. • Increase Security – Employers have an obligation to provide a safe workplace. Depending on the environment and workforce, security can be handled in different ways. Ideas include installing security cameras, increasing lighting, or implementing safety training such as active shooter training. It is also important to establish emergency procedures and educate employees. • Promote Tolerance – Organizations thrive when diversity is at its core. Bias in the workplace can impact the corporate culture and can negatively affect employee wellbeing as well as the company’s bottom line. Problems are solved, and innovation occurs when people from different backgrounds bring their own unique strategies and ideas to the table.

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As an HR professional, I would rather advise companies about the best ways to motivate their staff to their greatest potential instead of discussing ways to protect employees from hate crimes. Yet, when grandparents are killed while buying poster board for their grandson and people of faith are killed in their place of worship, it is hard not to think about what to do if hate enters our workplaces. As a country and as individuals, we all must rise up against hate. We must be aware of its presence and work to extinguish it. Hate can become toxic and we have witnessed the results of this toxicity reflected in the news recently. To honor the recent victims, we must not tolerate acts of hate, small or large. Martin Luther King, Jr. said it best, “I have decided to stick with love… Hate is too great a burden to bear.”

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NEW TO THE STREET |

NEW FACES OF BUSINESS

Open for business

2

1

2. Lead Academy Public Charter School recently opened a new facility at 804 Mauldin Road in Greenville. As a free, public charter school, Lead Academy offers potential for students’ growth as both scholars and community members. 3 1. Bad Daddy’s Burger Bar recently opened its second location, at 1922 Augusta Road A1-A in Greenville. The restaurant’s mission is to prepare simple American favorite foods with culinary passion. Bad Daddy’s has 28 locations in six states. CONTRIBUTE: Know of a business opening soon? Email information to aturner@communityjournals.com.

3. Palmetto Oral & Facial Surgery recently opened at 515 Worley Road in Greenville. With a focus on personalized patient care, Dr. Brett Shigley and his staff strive to provide clients with exceptional health care in a comfortable environment.

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PLAY-BY-PLAY OF UPSTATE CAREERS

HIRED

HIRED

PROMOTED

HIRED

HIRED

WES BOYD

CARTER HOLLIS

JEANNE MORRISON

DAVID CHAPMAN

has joined Coldwell Banker Caine as a residential sales agent in the Greenville office. Previously, Boyd served as the president of a documentshredding business. As a licensed Realtor, he strives to provide his clients with excellent service.

has been hired as a commercial banker at Synovus’ Greenville office. Hollis will focus on commercial and industrial customers and prospects in the Upstate. He has nearly 20 years of experience in the banking industry.

has been promoted from digital media planner to digital strategist at Infinity Marketing. Morrison has worked with Infinity for three years gaining experience in SEO, search, and display advertising.

has joined TD Bank as a senior relationship manager in the Upstate market. Chapman comes to the bank with over 16 years of experience as a banking professional. He will be responsible for enhancing client relationships and developing new relationships.

John Riddle Professional Recruiter

| ON THE MOVE

MARCEL SUMMERMATTER was hired by TD Bank as a senior relationship manager in the Upstate market. He brings with him over 15 years of experience in the banking industry. He will be responsible for enhancing client relationships and developing new relationships.

We’ve already met your next employee.

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#TRENDING |

INFORMATION YOU WANT TO KNOW

THE WATERCOOLER 1. Havana Kitchen to open in former Mimi’s Cafe location on Woodruff Road

2. Taking a mulligan: Crosswinds Golf Course gets a new owner and a major do-over

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4. Academy Street property sells for $5.1M to senior living developer

5. Front Row: October 2018 City of Greenville Design Review Board Urban Panel

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BRIEFS, TIDBITS, BLIPS, DATA & MORE

| ROUND UP

IN BRIEF UBJ PUBLISHER

Mark B. Johnston mjohnston@communityjournals.com

EXECUTIVE VICE PRESIDENT Susan Schwartzkopf susans@communityjournals.com

Flourish was

Crawford Strategy brought home seven MarCom

awarded 12 MarCom Awards in its fourth year of participation. The firm won for its work with clients including Cancer Survivors Park Alliance, Home Builders Association of Greenville, and Greenville Country Club.

Awards from the Association of Marketing and Communications Professionals for its work for clients including United Community Bank, North Myrtle Beach, and Southern Wesleyan University.

EDITOR

Claire Billingsley

COPY EDITOR Rebecca Strelow

STAFF WRITERS

Ariel Gilreath, Cindy Landrum, Andrew Moore, Sara Pearce, Ariel Turner

MARKETING & ADVERTISING DIRECTOR OF SALES Emily Yepes

MANAGERS OF BUSINESS DEVELOPMENT Ed Ibarra | Donna Johnston

MARKETING REPRESENTATIVES Heather Propp, Meredith Rice, Caroline Spivey, Liz Tew

CLIENT SERVICES

Anita Harley | Rosie Peck

ART & PRODUCTION VISUAL DIRECTOR Will Crooks

LAYOUT

Tammy Smith | Stephanie Orr

ADVERTISING DESIGN

Michael Allen | Amanda Walker

Infinity Marketing took

home seven 2018 W3 Awards for the second consecutive year. Their awards were for work with clients such as Countybank, Girl Scouts, and the Cliffs.

Complete Public Relations picked up six awards from MarCom International for its work with clients including the 2018 Tacos N Tequila Fiesta, The Buzz, and Greenville Health System.

EP+Co

promoted 12 team members including Chris Plating, Karen Mawhinney, Kat Shafer, Danny Miller, Vicky Gonzalez, Carolyn Philips, Charlotte Stirrup, Emily Rule, Jeff Fischer, Leslie Scott, Rebecca Lynch, and Amanda Baizen.

FinTrust Capital Advisors recently had members

of senior leadership present at three nationally recognized conferences: Allen Gillespie, Chip Hardy, and Scott Soltau presented at the 2018 Government Finance Officers Association of South Carolina Fall Conference, while Gillespie presented at the 2018 S.C. Aerospace Conference and Expo and also at the 2018 S.C. Department of Commerce Innovation Rally.

VICE PRESIDENT OF OPERATIONS Holly Hardin

EXECUTIVE ASSISTANT Kristi Fortner

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

NOV. 9 CRE ISSUE NOV. 23 FOOD & BEV… THANKSGIVING WEEK DEC. 7 FINANCE ISSUE

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

UBJ milestone

UBJ milestone jackson Marketing Group’s 25 Years 1988 Jackson Dawson opens in Greenville at Downtown Airport

1988

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

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

1998

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

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

2009-2012 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 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

Order a reprint today, PDFs available for $25. For more information, contact Anita Harley 864.679.1205 or aharley@communityjournals.com 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

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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

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20 Upstate bUsiness joUrnal November 1, 2013

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NOVEMBER 1, 2013

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581 Perry Avenue, Greenville, SC 29611 864-679-1200 | communityjournals.com UBJ: For subscriptions, call 864-679-1240 UpstateBusinessJournal.com

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November 9, 2018 Upstate Business Journal  

Upstate Business Journal published for the Upstate of South Carolina. Designed and created by Community Journals. www.communityjournals.com...

November 9, 2018 Upstate Business Journal  

Upstate Business Journal published for the Upstate of South Carolina. Designed and created by Community Journals. www.communityjournals.com...

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