KARALEE NIELSEN FALLERT All Good Industries
PAGE 4 VOLUME 26 NUMBER 15 ■ CHARLESTONBUSINESS.COM
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Black-owned businesses surge By Dalvin Brown
City hall for sale
The property that housed North Charleston’s first city offices is on the market. Page 15
View from above
Check out the Vantage Point afforded by a drone over the Park Circle business district. Page 12-13
K
USA Today
ris Christian, a small-business owner in Chicago, was mourning the death of George Floyd when she was hit with an onslaught of online orders. The owner of Chicago French Press was
home reeling after watching cellphone footage of the white police officer’s knee on Floyd’s neck when her iPhone lit up with notifications from new orders. “I was crying when I kept hearing these Shopify ‘ching chings’ going off,” said Christian, See BLACK-OWNED, Page 9
STARTING UP
Kris Christian, owner of Chicago French Press, said her business received a surge of new orders on the heels of protests calling for equality in America. (Photo/Chollette)
A family that planned to open a breakfast restaurant in West Ashley just before the pandemic hit now faces added challenges with money, time and the well-being of employees on the line. Page 10
High-quality crop
Clemson researchers develop pest-resistent DNA sequence for cotton crops. Page 3
Call to action
Charleston chamber officials say businesses must take precautions, protect clients. Page 31
INSIDE
Upfront................................. 2 SC Biz News Briefs................. 3 Best Advice........................... 4 Vantage Point...................... 12 In Focus: Commercial Real Estate...... 15 Hot Properties...................... 18 List: Commercial Real Estate Firms................22 Bonus List: Independent Insurance Cos.....................24 At Work...............................27 Viewpoint............................ 31
Healthy Tri-County looking to solidify pieces of new normal By Barry Waldman
A
Contributing writer
t the Charleston Regional Business Journal’s third livestreamed Power Event of the year, three health care equity advocates discussed what their institu-
tions and partners are doing to promote the well-being of everyone in the community. The Medical University of South Carolina, Roper St. Francis and Trident United Way serve as the lead partners for the Healthy Tri-County initiative, whose mission is to improve health outcomes and eliminate
Bounce Back
Experts from several industries help businesses prepare for when the coronavirus pandemic subsides in this special advertising section. Page 5
health inequities in the Lowcountry. Three years ago, the initiative and approximately 60 community partners produced a comprehensive health improvement plan for the region called Our Health, Our Future: See HEALTH, Page 14
Upfront
BRIEFS | FACTS | STATEWIDE NEWS | BEST ADVICE
Let’s walk on the beach, for a month
I
f you were to walk every bit of the Palmetto State’s tidal coastline, you’d have a 2,876-mile trek to get from Georgia to North Carolina, which would take you about 719 hours at the average walking speed of 4 mph. Considering pluff mud, that’s probably a generous rate of speed. Also that includes every tidal inlet and island, because we like to be thorough. Even through the coronavirus pandemic, South Carolina’s beaches (for better or worse) continue to be popular destinations for folks wanting to escape the house — both local folks and those from out of state. We’re not sure how the numbers are going to shake out for fiscal 2020 after everything is said and done, when we have a vaccine and can safely reopen the economy. But here’s a look at fiscal 2019, as far as tourism is concerned. (The fiscal year ends June 30.)
Tourism data by the numbers
$50,074,476
High season
Accommodations taxes collected across S.C. in fiscal year 2019, up 5.6% from the previous year.
The top counties receiving the largest amounts of accommodations revenue for 2019 fiscal year. County
Annual
Horry
$16,111,281
Charleston
$12,140,543
Beaufort
$6,962,362
Greenville
$2,763,453
Georgetown
$1,679,881
Richland
$2,193,157
Florence
$916,482
Spartanburg
$821,100
York
$839,794
$16,111,281
Horry County’s accommodations tax revenue for fiscal 2019, up 5.4% and the highest in the state.
$12,140,543 Charleston County’s accommodations tax, the second-highest in the state in 2019 and up 6.8% compared with the previous year. The next closest county, Beaufort County, came in at nearly $7 million.
6
Accommodations taxes in the Lowcountry
Number of S.C. counties topping $1 million in accommodations tax revenue for the year.
Tourism has become a year-round business, with ups and downs. The next three months make up the heart of the summer tourism season for Berkeley, Charleston and Dorchester counties. County
July
August
Sept.
Annual
Charleston
$2,289,051
$1,902,125
$1,311,815
$12,140,543
Berkeley
$82,027
$70,512
$72,413
$521,919
Dorchester
$11,430
$11,909
$13,381
$86,428
Source: S.C. Department of Revenue, S.C. Department of Parks, Recreation and Tourism
ON THE
RECORD
“There’s still a need for office, but people are being a little more efficient and maybe not needing as much. You’re seeing a lot of people renewing where they are, instead of going for a big expansion. We talked to a client recently who still has growth plans, but they’re slowing down their process.” — Reid Davis, managing principal at Lee & Associates Charleston
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SC Biz News Briefs
Tidewater Boats Lexington, SC 713.94 kW PV System
alderenergy energy S O L A R
We make solar simple.
Miwon Specialty Chemical Co. representatives, along with city of Columbia and Richland County officials, break ground on the Pineview Industrial Park facility. (Photo/Provided)
COLUMBIA
COMMERCIAL SOLAR PROJECTS
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Chemical company breaks ground on Richland County facility An international chemical company has broken ground on a $20 million Richland County production facility that will be its first U.S. plant. Miwon Specialty Chemical Co. USA broke ground recently on a 65,000-squarefoot facility at Pineview Industrial Park at 1700 Longwood Road. South Korea-based Miwon, a subsidiary of Miwon Specialty Chemical Co. Ltd., produces and supplies raw materials for ultraviolet and electron beam markets that are used in food packaging inks, coatings for wood, plastic and metal, and adhesives for DVDs and mobile phones. The Pineview Industrial Park facility is expected to begin production in the first quarter of 2021 and to create 25 jobs. Hiring is set to begin later this year. Employment information is available online or by emailing inquiries@usaplant@ mwc.co.kr. Miwon announced plans for the Richland County facility in 2019.
CLEMSON
Clemson researchers develop ‘highest-quality’ cotton DNA sequence
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Using genome or DNA sequencing, Clemson University’s genetics team created the “highest-quality DNA sequence” for crops in the cotton family as the school’s geneticists seek to develop varieties resistant to climate change, pests and other threats. “We believe this sequence, or DNA roadmap, will provide the foundation for more sustainable crops to be grown,” Chris Saski, a genomics professor in Clemson’s plant and environmental sciences department, said in a news release. Throughout the team’s research, they compared two domesticated cotton breeds, upland and pima cotton, with wild varieties to pinpoint genes with conductive fiber traits and disease resistance, among other traits. South Carolina farmers tend to favor upland cotton, while pima cotton is starting to make a comeback after the breed’s 100-year absence from the state. “Cotton has an annual economic impact of $500 billion worldwide,” Saski said in the release. “But it currently is threatened by several devastating diseases, such as fusarium wilt and nematode infection, that impact growing areas, including the southeastern United States.” In South Carolina alone, 300,000 acres, or $141 million worth, of cotton were planted in 2019. Final results of the research were published in Nature Genetics magazine. VOLUME 13 NUMBER 9 ■ COLUMBIABUSINESSREPORT.COM
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By Molly Hulsey
Midyear forecast
Economist Bruce Yandle looks at where we were and where we’re going. Page 31
A
mhulsey@scbiznews.com
s South Carolina’s small businesses feel the economic crush of COVID19, Facebook’s Diana Doukas argues that they have found an unlikely ally in the social media giant. “Facebook has long been in the business of small business, and it is our job to support the community,” said Diana Doukas, Facebook’s economic impact director and former White House Business Council director. “As soon as we even had an indication that COVID-19 was going to impact the small business com-
“Facebook Shops,” a feature that allows business owners to create and customize their digital storefront as a number of retailers are forced to prioritize e-commerce over brickand-mortar sales. “I think it’s a matter of helping facilitate that transition, if businesses choose to do so, and making it as easy as possible,” Doukas said. Still, Facebook’s analytics and data collection capacities may play an even larger role in helping small businesses chart their next leaps into an ever-expanding online marketplace. Adding to the slew of Facebook’s joint archival projects with the World Bank and the See FACEBOOK, Page 12
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Greenville firm creates new swab Hoowaki to make medical device by the millions through injection molding. Page 6
Greenville apparel company eyes post-panedmic mask market. Page 8
Paper on a roll
Paper companies report brisk business. Page 9
INSIDE
Leading Off .......................... 2 SC Biz News Briefs ................ 3 C-Suite ................................ 4 In Focus: Midyear economic forecast ............................. 31 LIST: Largest Employers .....34 At Work ..............................37 Viewpoint ...........................39
Economic upheaval
FARM FRESH Saturday market brings ‘near tourists’ to Greenville’s Main Street
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Marley McAfee and Carolyn Henry operate the Tryon Mountain Farm booth at the TD Essential Market. (Photo/Ross Norton)
S.C. industries respond to unprecedented shutdown
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munity as it has — even though I’m not sure any of us could have predicted how bad — we knew that we needed to act.” Features of Facebook’s small business promotional campaign include a “Support Small Business” sticker added to Instagram’s roster in early May (Facebook owns Instagram) and a “Businesses Nearby” tab that filters posts and deals from venues within 1 to 500 miles away from a location. A business resource hub relays sector-by-sector guidance for the pandemic, a resiliency tool kit and curriculum on how businesses can best leverage Facebook marketing platforms. In late May, the platform also unveiled
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Best Advice
KARALEE NIELSEN FALLERT OWNER, ALL GOOD INDUSTRIES
Story by Patrick Hoff | Photography by Shell Royster
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“THE BEST ADVICE I’VE EVER RECEIVED
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who advised me to ‘always get the facts first.’ In my
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make a judgment or decision based on those pieces
experience, it’s easy to take a snapshot of any situation
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tapas bar Raval on Upper King Street in 2005. Raval in 2006; Monza pizzeria in 2007; Taco Boy and Closed for Business in downtown Charleston in 2009; The Royal American in 2011; The Park Cafe in 2014; Wiki Wiki Sandbar in 2018; and a Taco Boy in Summerville
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Montessori Learning Collective in North Charleston in 2018.
INTERESTING FACT
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BOUNCE BACK NAVIGATING THE POST-PANDEMIC ECONOMY
The Lowcountry’s future depends on the strength of all small and midsize businesses to drive the economic recovery in the aftermath of the coronavirus pandemic. The Charleston Regional Business Journal has assembled a slate of experts from across industries to share their expertise and to advise businesses of all sizes on how to bounce back when the pandemic abates. What should you do now to prepare for an economy that’s likely to look like nothing we’ve seen before? Our experts are here to help.
Regional Resilience The Lowcountry prepares to get back to business
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CLEANING PROTOCOLS The Value of a Disinfected Facility
H
ow much time are you or your staff devoting to cleaning procedures each day? Is reallocating staff for increased cleaning procedures the best and most valuable use of their time? As businesses look to navigate re-opening techniques and driving Kara customers, Hoffman clients, and staff Belfor USA back through their doors, the focus has noticeably shifted to safety, cleanliness and precautionary measures. These are all great steps to help increase “business as usual” but, at some point, we have to evaluate the “highest and best use” of time for these staff members who have shifted their finite resources to these new tasks. What other job responsibilities are unfulfilled while these necessary cleaning protocols are being carried out by office managers, facility staff, and receptionists? Or worse, who’s not comfortable with coming back at all without increased precautions? Given the financial strain we are all facing, it seems reasonable and financially necessary to carry the burden of these new responsibilities yourself, but eventually it bears the question— what is it actually costing you, tangibly and otherwise? For example, Sharon in facility management doesn’t necessarily have the training, or the time, to devote the much needed precision to disinfect her company’s facility daily but she’s
been tasked to do so. And, at no fault of her own, the job is only being “sort of ” done well. It would seem reasonable to assume you can only expect “sort of ” clean results, right? Even worse, what if Sharon then becomes sick, or unwilling to continue this task over concerns for her own health, possibly even quits.
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to STEP many other specialized services, PROTECT BELFOR 02 has For Up decades To 90 Days of experience responding to hazards caused by environmental and biohazard issues as part of our core services. RTU To help businesses through the BELFOR isCOVID-19 the exclusive provider and theBELFOR ONLY current outbreak, BIOPROTECT™ CERTIFIED COMPANY in the offers a groundbreaking new Restoration industry. BIOPROTECT™ RTU cleaning is an EPA registered, water-basedprocess antimicrobialcalled surface the and disinfection protectant that provides continuous and persistent protection for up3-Step to 90 days.Clean System – BELFOR Disinfect, Protect and Certify. After surfaces are professionally cleaned with an approved disinfectant, BIOPROTECT™ RTU can First, trained and certified be applied to help keep surfaces protected for a longer period of time between cleanings. technicians clean andregular disinfect surfaces with a professional grade botanical The patented formula of BIOPROTECT™ RTU is non-flammable, odorless, colorless, non-leaching disinfectant that kills 99.9% of all and non-migrating. BIOPROTECT™ RTU can be applied to both porous and non-porous surfaces. viruses, bacteria, fungi and mold. After It is also safe to use on food contact surfaces, the facility BELFOR utensils, appliancesisanddisinfected, equipment. applies a unique antimicrobial surface protectant called BIOPROTECT™ RTU STEP
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July 13 - 26, 2020
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www.charlestonbusiness.com 7
confirms BIOPROTECT™ formulation kills and residually protects against SARS-CoV-2. “The results of the tests conducted by the Doherty and the Rega Institutes clearly demonstrate that BIOPROTECT™ eradicates SARSCoV-2 on surfaces and provides continuous residual antimicrobial protection for an extended period of time,” said Dr. Christian Bréchot, President of the GVN. Through an exclusive partnership with ViaClean Technologies, developer of the BIOPROTECT™ RTU antimicrobial surface protectant, BELFOR is the only restoration services partner to offer this unique product and service in the United States. “The challenge with most cleaning protocols today is that common surfaces, or touch-points, are cleaned with disinfectants – these products leave behind no effective residual protection and within hours
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The Commercial Real Estate Comeback An examination at what commercial real estate will look like in a post-covid world.
S
ince 1906, Coldwell Banker Commercial has weathered changes that span from the small to the catastrophic. Our longevity is not a byproduct of survival, but a mentality that started with our founder — to put our clients’ needs first. postBrent Case, CCIM The pandemic real Broker in Charge, President estate market Coldwell Banker will be different Atlantic in many ways, some significant and others more subtle. Here are our predictions for what that might look like for submarkets including retail, office, industrial, restaurants and multifamily. 1. What effects should we expect in Retail post-Pandemic? The retail market had already been seeing trends toward more serviceoriented stores in the recent years that we believe will continue to be on the rise as a reflection of the pandemic. We expect to see a notable balance between retailers accommodating the customer not wanting to travel far to shop, while still trying to incentivize them to leave their house. The battle with e-commerce will maintain its vigor, so retailers should expect to create new, unique, omni-channel approaches to the traditional store. Additionally, we anticipate a higher demand for medical-type retail spaces to meet the influx of testing centers and essential caregiving locations. 2. How do you think the Office submarket will shift postpandemic?
Goose Creek Village With the installation of social distancing practices, we are expecting to see office buildings reconfigure their general layout. The bullpen style offices will start to reconstruct for more space, private offices, open floor plans and possible physical barrier installations as well. Alternatively, we also expect some offices to move toward creative scheduling and allow more employees to work remotely. Post-pandemic commercial real estate will be a new challenge to overcome, not a setback to be hindered by. 3. How will the pandemic impact Industrial spaces? Central positioning is essential to the industrial market as online ordering increases. The demand for distribution-type industrial spaces with access to urban cores is noted as companies chase “Last Mile Delivery” services. Meaning, we expect the pandemic to support companies’ needs to be closer to
the customer to offer quick delivery access points via large distribution centers. We also expect a major reshoring initiative that will bring manufacturing jobs back to the United States and increase the industrial market post-pandemic. 4. What are the shifts you expect to see in Restaurant markets? Space will be a priority for tenants as restaurants adhere to the guidelines set in place in the aftermath of COVID-19. In addition to looser restrictions on outdoor seating, we will also see attraction toward more sidewalk and parking space as tenants will need dedicated parking for deliveries. Landlords will be more incentivized to charge for uncovered outdoor seating, which typically was not a charge before. We will also see more of a demand for catering and to-go orders, which will affect restaurant layout and design. Percentage Rent clauses is another consideration to note in leases that will help alleviate
concerns for both tenant and landlord. 5. What do you think the Multifamily submarket will look like post-Pandemic? We expect to see an influx of major Northern urban markets moving to the Southeast, which will stimulate home growth. The multifamily housing market will need to prioritize more green space as tenants gravitate toward this attractive quality post-pandemic. In response to the stimulus of working remotely from home, we think we will start to see a design shift in home layouts that includes home office space and a demand for high speed internet with increased fiber optic installations. The bottom line is that people will still need physical spaces to deliver the experience that consumers want. Whether you are a property owner, tenant or investor, we are armed with the technology and resources to show you the way forward, even remotely, using our global network and our local knowledge.
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BLACK-OWNED, from Page 1
who started the online coffee shop in 2016. “It was like new order after new order.” It was bittersweet, she added. People are showering Black-owned businesses with support amid protests against police brutality. The sudden attention on inequality in America has led to numerous online lists spotlighting Blackowned companies for people to support. But Black entrepreneurs who run the businesses say they have mixed feelings. “On one hand, this is what we’ve been praying for. This is the support we’ve wanted for so long,” Christian said. “But it comes after such horrible and disgraceful acts. It comes after all these Black men and women have been killed by cops.” Almost as soon as protests kicked off in late May, online sales surged 225% over what was considered average, she said.
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business and how they participating in the social well-being of their community,” Cohee said. “The death of George Floyd and Ahmaud Arbery focused people’s attention on using their financial resources as a way to better their community.” OneUnited is one of about two dozen Black-owned banks and credit unions in the United States, according to the financial advocacy group Blackout Coalition. South Carolina is served by OneUnited, as well as C.O. Federal Credit Union, headquartered on Spring Street in Charleston, and Brookland Federal Credit Union on Sunset Boulevard in West Columbia. Many banks run by Black people are
in locales that are underserved by other banks. The minority institutions provide access to safe and affordable bank accounts, mortgages and business loans, which are often hard for Black entrepreneurs to secure, Cohee said. From 2007 to 2017, more than half of companies with Black owners got turned down for loans, a rate twice as high as white business owners, according to the Federal Reserve’s most recent data. Despite issues with financing, the share of Black-owned businesses in the U.S. has risen over the past decade. There are now 2.6 million, up from 1.9 million in 2007, according to the Commerce Department.
Still, Black business owners say it’s hard to gauge how to scale their companies with the influx of revenue because no one knows whether or how long the shifts in buying habits will last. “I’m afraid to scale too much because you never know if this is going to be a weeklong thing or is it going to be a oneday type of thing,” Christian said. “But it’s my hope that we keep this energy up so that we can create more opportunities, more jobs and more resources for our own communities.” CRBJ
Follow Dalvin Brown on Twitter: @Dalvin_Brown.
It started with a list
It turned out that her Chicago-based coffee brand was included on several blog posts, Google Docs and spreadsheets going around social media in a loosely connected effort to uplift the community. One such list was created by Destinee Stark of Plain Township, Ohio, and includes more than 250 Black-owned establishments in the state. Duan Gavel, a developer in Springfield, Mo., created another one even earlier. Lois Hines, founder of the hair care company Tropic Isle Living, also saw a surge in business after appearing on a list. Orders ramped up in late May, and the Jamaica-sourced castor oil brand flew off the shelves at Target and Walmart. “At first we couldn’t understand it,” Hines said. “We were like, wait a minute. Is this people shedding light on Blackowned businesses?” The movement may mark a cultural shift. For a long time, many Black entrepreneurs were wary of having their businesses labeled “Black-owned” out of fear that it would limit their customer base. “When I started my business, I had advisers say, ‘You shouldn’t put your face in front of your brand because that might turn off certain people from buying your coffee,’ ” Christian said. “Now, I’m glad I didn’t listen.”
Black-owned banks are busy, too
Minority-owned businesses have long had a harder time getting financing, which might also be spurring interest in Black-owned banks. OneUnited received 40,000 new accounts over the past month. The first boost came from the pandemic with more people shifting to mobile banking, said Kevin Cohee, CEO of OneUnited. A second wave came from people thinking about how spending can influence the race-related changes they want to see, he added. “The awareness around racism caused people to rethink where they’re doing
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July 13 - 26, 2020
Restaurant faces challenge of opening during pandemic By Andy Owens
aowens@scbiznews.com
W
hen Teresa Arnold and Kevin Arnold sold their fitness business in Summerville, they took time off until the married couple were ready for their next entrepreneurial challenge. About 18 months ago, that challenge was going to be a food and beverage franchise in West Ashley, near a new housing development and growing commercial corridor off Bees Ferry Road. With a site selected, employees ready to train and a commercial kitchen in place, everything came to a stop in March as the coronavirus pandemic shut everything down, particularly food and beverage. Teresa Arnold said they interviewed prospective job candidates for the entire first week of March, hoping for a midMarch opening, even though she and her husband knew something might happen with the pandemic. “It was like within a couple of days,” Teresa Arnold said. “It was just so fast that it happened.” Today, the Arnolds are one of the first companies to go through Gov. Henry McMaster’s and the Department of
Teresa Arnold and Kevin Arnold, owners of Eggs Up Grill in West Ashley, delayed opening their business as the coronavirus pandemic rippled through the food and beverage sector. Now they’re open at 50% capacity with 21 employees. With safety measures in place, the couple is planning to expand the franchise to other locations in the region. (Photos/Andy Owens)
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Health and Environmental Control’s Palmetto Priority program. Kevin Arnold said he signed up for the program immediately and went through the training, which certifies that a food and beverage business is following a specific set of health and safety guidelines for being open during the pandemic. “I think they see that we are taking it very serious because we wear our masks, we wear our gloves, we clean the tables then we take the spray that’s recommended ... to sanitize it,” Kevin Arnold said. “We don’t have condiments on the table. We do use our silverware, but it’s sanitized and goes through the wash cycle twice.” The restaurant location has 21 fulltime and part-time staff members, and the Arnolds said opening up at 50% capacity actually helped ease the new staff members into the rhythm of food service. “I think it’s helping our kitchen to get experience. They’re not getting hammered,” Kevin Arnold said, adding, “We’re paying the bills and all that, and it’s given us a lot of experience so when we do go to 100% capacity we’re ready to hit the ground running.” Kevin Arnold said the launch has been successful enough, even at 50% capacity, that he’s going to go forward with plans to open other locations, possibly on Johns Island or in Hanahan or Moncks Corner. He said that those plans are in the early stages but that he looks for some specific things when opening this type of business.
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“I think they see that we are taking it very serious because we wear our masks, we wear our gloves, we clean the tables then we take the spray that’s recommended ... to sanitize it.” Kevin Arnold Co-owner, Eggs Up Grill
“I want to be in a shopping center with a big anchor tenant and a substantial amount of rooftops around,” he said, noting the nearby Grand Oaks subdivision and Harris Teeter grocery store. “My philosophy is you need to have a strong community around you. This is not something you’re probably going to drive 10 miles for.” Recently, the restaurant was packed on a weekday with the Arnolds both greeting customers, carrying umbrellas to the Eggs Up outdoor dining patio and asking employees how things were going. “I think a lot of people appreciate us opening up,” Kevin Arnold said. CRBJ
Reach Andy Owens at 843-849-3142.
Kevin Arnold, the co-owner of Eggs Up Grill in West Ashley, adds another umbrella to the restaurant’s outdoor patio after tables started filling up. (Photo/Andy Owens)
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DETAILS Latitude: 32.881526 | Longitude: -79.976822 | Status: Public street | Time of day: Early evening
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HEALTH, from Page 1
Tri-County Health Improvement Plan 2018-2023. “Coronavirus has unprecedentedly shifted how we operate,” said Anton Gunn, chief diversity officer for MUSC Health. The state Legislature tasked MUSC with establishing COVID-19 testing across the state. “To date, we’ve tested more than 30,000 people.” At Roper St. Francis, telehealth visits have increased 80%, according to Mark Dickson, vice president of mission. “We’ve dabbled with this becoming a permanent thing,” he said, but he noted that some physicians caution that they still need to see patients in person — at least some of the time. COVID-19 created health issues not directly associated with the coronavirus, said Renee Linyard-Gary, director of health for Trident United Way. That organization and many nonprofits across the region found themselves responding to a dramatic spike in food insecurity in the wake of the economic lockdown. “We’ve reacted on all fronts,” Linyard-Gary said. United Way established a COVID response fund that raised $600,000 to cover the surge in basic needs. “In the basic needs space at the top of the pandemic, we saw a need for food access. ... We had to pivot and offer a mobile drive-thru food drive” in Dorchester County, serving nearly 400 families rep-
July 13 - 26, 2020
resenting some 1,500 people. At the same time, hospitals have seen a dramatic drop in non-COVID requests for care. Health care officials are concerned that people have avoided seeking services for fear of catching the virus in the one place that may be the safest — the hospital, where guidelines from the Centers for Disease Control and Prevention are sacrosanct. While economic fragility has been an outcome of the pandemic, it is also a cause of poor health outcomes, the panelists said, along with other “social determinants,” including low educational levels, poor access to care, lack of affordable health insurance, lack of transportation, homelessness, dearth of recreational opportunities and location in a food desert. South Carolina has one of the highest rates of uninsured people in the nation, according to census data. “Access to care is the No. 1 priority because access is not just the traditional things we think about,” Linyard-Gary said. “We think about health coverage as the immediate access to care but don’t think about ... do I even have the transportation to get to service?” Gunn offered these examples of barriers to access to care that are likely foreign to most middle class families: Even if the local pharmacy is open long hours, a person who works two part-time jobs might not get home until after it closes. Or perhaps they live in Awendaw, 19 miles from
“Access to care is the No. 1 priority because access is not just the traditional things we think about. We think about health coverage as the immediate access to care but don’t think about ... do I even have the transportation to get to service?” Renee Linyard-Gary director of health for Trident United Way
the nearest emergency room and without bus service. “Education the key to better equity, equality and justice. If you know better you’re going to do better,” Dickson said. “We need to put more focus on that early education ... and that’s going to have longterm impacts on everything in society.” The Healthy Tri-County initiative surveyed 5,300 local individuals and determined five health priorities for the community to address: access to care; obesity, nutrition and physical activity; maternal, infant and child health; behavioral health;
and clinical preventive services. Race is also intertwined with those issues. “There are structural systemic challenges with race and racism in the American health care system,” Gunn said. He recounted his own experience when his wife went into premature labor on Christmas Day when her obstetrician was out of town. “We had a clinician who was not listening to my wife and was really dismissive of our perspective and our experience. This dismissiveness speaks to the implicit bias that some providers and some health care organizations have.” The pandemic has opened a window to better care, the panel said. Hospitals are now providing mobile testing and bringing services to underserved areas. They are addressing language barriers and lack of internet access. Gov. Henry McMaster advised residents to visit MUSC online for information, but the hospital recognized that those without internet access needed an alternative, and so it established telephonic screening. “There is so much collaboration happening that I think this is going to be a good opportunity to assess these challenges, but I want us to make sure that we don’t go backwards, that when COVID subsides and we think the crisis is behind us we don’t go back to ... the old normal, but create a new normal of collaboration, of engagement, and particularly creating equitable access in rural, underserved areas that have the highest need.” CRBJ
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Going for broker
Commercial real estate moves the market in most economies across the U.S., and brokers help make the deals come together. The Bureau of Labor Statistics tracks employment data for all real estate professionals, including brokers, in S.C.
Real estate jobs in S.C. Area Employment Greenville-Anderson 500 Myrtle Beach-Conway 300 Columbia 240 Charleston-N. Charleston 230 Hilton Head-Bluffton 170 Spartanburg 60 Sumter 60 Stained glass on the second floor of 1070 E. Montague Ave. is a throwback to Charles Towne Stained Glass, the building’s previous tenant. (Photo/Wilson Kibler)
Old North Charleston city hall for sale By Andy Owens
Y
aowens@scbiznews.com
ou might not be able to fight city hall, but you can work in it. Sort of. The two-story building at 1079 E. Montague Ave. that served as city hall for North Charleston when it was a brand-new municipality in 1972 is on the market. The nondescript building where the city’s first mayor, John E. Bourne Jr., helped build the municipality now sits in the middle of a revitalized, historic downtown in the heart of North Charles-
ton’s Park Circle area. North Charleston was vastly different 48 years ago. The city started out much smaller than it is today, an intentional choice to make incorporating easier after two failed attempts. After successfully incorporating, the city grew by annexing the Naval Base, the Air Force Base and Charleston International Airport, going from 22,000 people to 53,000 people in one year. Today, the building where it all began can be purchased as commercial See CITY HALL, Page 17
North Charleston’s first mayor, John E. Bourne Jr., and current Mayor Keith Summey got together in 2015 for the unveiling of their likenesses at the Wall of Service for the city. Bourne served for nearly 20 years and died in 2018. (Photo/Ryan Johnson)
Commercial market strong; uncertainty remains By Andy Owens
D
aowens@scbiznews.com
eals are still being done. Leases are still being signed in the Charleston market, but the way companies are approaching commercial real estate faces uncertainty, according to three market professionals. Reid Davis, managing principal with Lee & Associates in Charleston, said the coronavirus hasn’t stopped movement in the market, even with office space, but he predicts that as leases come up for renewal, many companies might hold back on planned expansions or scale back if they can. “There’s still a need for office, but people are being a little more efficient and maybe not needing as much,” Davis
said, adding that it also depends on the business. “You’re seeing a lot of people renewing where they are, instead of going for a big expansion. We talked to a client recently who still has growth plans, but they’re slowing down their process.” Cameron Yost, an associate at Lee & Associates, said companies also are changing how they operate, with many dumping the open floor plans that characterized much of the past 10 years and leaning toward more private spaces. She said Lee & Associates has also changed how it operates, including splitting up who comes into the office and when. The firm has also invested in technology and training to accommodate showings of commercial property when a buyer or seller isn’t comfortable traveling to a site.
“We invested in kind of doing virtual tours, video of the spaces, to let people have the experience of touring,” she said. “People have still been looking at new space, and deals are still happening.” Pete Harper of Lee & Associates said tenants in the market have been focused on medical-related real estate. He said that’s been a surprise for the market and that it’s likely to continue because of Charleston’s medical-focused assets. He said the appeal of being in the Charleston market hasn’t changed. He said people want to work close to where they live, and a major driver of Charleston’s real estate market is residential. “You’re hearing about all the flight from the big cities residentially,” Harper See MARKET, Page 16
Annual wages in S.C. Area Charleston-N. Charleston Hilton Head-Bluffton Spartanburg Columbia Myrtle Beach-Conway Greenville-Anderson Sumter
Average $110,010 $77,520 $74,430 $70,810 $51,710 $51,180 $43,840
Comparing Southeast employment, wages
Real estate jobs and wages vary greatly across the Southeast, including South Carolina. Jobs include all real estate professionals, brokers, agents, along with property managers and leasing agents. State Florida Georgia Carolina Tennessee Louisiana Virginia Mississippi Carolina Alabama
Jobs
Wages
22,260 6,830 6,410 4,160 3,310 2,610 1,810 1,800 1,750
$63,620 $64,660 $69,200 $61,530 $54,820 $95,080 $40,560 $67,000 $60,390
Source: U.S. Bureau of Labor Statistics, May 2019
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said. “I think Charleston is going to be a hot market both residentially and commercially. It’s not like it was in 2019, but I have a feeling that once it comes back and the demand part of the cycle hits Charleston, we’re going to be far ahead of where we were in 2019.”
but the outlook for retail continues to be strained and uncertain. “Retail continues to be a challenge,” he said. “There’s some bright spots, but the food and beverage industry and the COVID crisis has been very challenging. You have restaurants that are opening at 50% of revenue but still have to pay all of their expenses.”
‘The Amazon effect’
Least-affected sector
MARKET, from Page 15
Harper said that chunks of commercial space are going to be repurposed at an accelerated rate, such as Citadel Mall transforming into a medical and entertainment complex instead of retail anchors and smaller tenants. He called this “the Amazon effect,” where location still has value but for different reasons. “You know retail is always location, location, location, location, and a lot of other uses want to take advantage of location,” Harper said. He predicted that companies such as Office Max and Office Depot will struggle, but companies such as Walmart, Home Depot and Lowe’s, which already were investing heavily, are going to weather the current market. “You’re not going to see as many new deals,” Harper said. “I don’t think you’re going to see a new mall built in this country again.” Access to capital continues to be strong for commercial real estate, with interest rates at historic lows, Davis said,
Harper said industry continues to be a strong sector, and demand is expected to continue even with the port seeing a slight dip in volumes. With more than 2 million square feet of industrial space available in the Charleston market since last year, on top of 6 million square feet the previous year, the market has been responsive to the growing wave of mail-order, on-demand deliveries. “I think that while port volumes by month have been down a bit, there’s still a need for industrial, warehousing space,” he said.
Market shift
Davis said brokers at Lee & Associates often get asked where investors should put their money, and it’s not an easy question to answer. He said commercial real estate has been a landlord/seller’s market for a long time, and with some of the government programs propping up bottom lines,
some vacancies are expected. “On the commercial side, I think what was a seller’s/landlord market is going to be switched to a buyer’s market,” Davis said. “We’re still seeing a demand for leasing and sales for office space.” He said tenants can capitalize on this moment by renegotiating lease terms and finding space more affordable than might once have been considered. He said multifamily and hospitality are going to be challenging for sellers because of an oversupply. “The effect of COVID has not quite made it to Main Street commercial real estate yet,” Davis said. “I think it’s going to be a little more time before things filter through and building owners are in a position where either they’ve lost their tenants or they’ve lost their business and can’t continue to keep up.” Davis said it’s going to take a while before the market bottoms out, and the election adds another layer of uncertainty on top of the pandemic. Harper said attention must be given to the flight from the urban areas where high density has helped fuel coronavirus infection rates and a sense of space has made people want to consider a move. “I think it’s short-term,” Harper said. “Charleston has been in demand for 20 years now or longer. I think we’re going to see a huge growth in the people moving here, and growth drives commercial. I’m an optimist.” CRBJ
July 13 - 26, 2020
Real estate pros in South Carolina will undergo background checks
A
Staff Report
s of July, all real estate professionals in South Carolina must undergo a criminal background check for a new real estate license, the S.C. Department of Licensing, Labor and Regulation said. All first-time applicants for salesperson, broker, broker in charge or property manager in charge for licensing through the S.C. Real Estate Commission must have state and federal fingerprint criminal records checks from the State Law Enforcement Division and the FBI, the department said. This is a change to the S.C. Code of Laws, and the cost of conducting the criminal records check must be paid for by the applicant, the department said. The department said the S.C. Real Estate Commission cannot use background checks that were obtained for other reasons, such as concealed carry weapons permits or security clearances. CRBJ
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July 13 - 26, 2020
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CITY HALL, from Page 15
property for $1.24 million or leased for $23 a square foot. The entire building is 4,420 square feet, but it could be divided in half to serve two tenants, according to Wilson Kibler Commercial Real Estate. The property is owned by Cason Development Group in Columbia. Previously, the building was occupied by Charles Towne Stained Glass, Cason said. Stained glass can still be seen on the second floor overlooking East Montague. The entire interior has been stripped to the walls and studs, said Hank Beckham, managing director of Wilson Kibler Commercial Real Estate in Charleston. He said the space could work as a restaurant, bar, retail, office or even residential depending on the tenant. “It’s really got a lot of flexibility to it,” he said. The entire East Montague Avenue retail district likely will benefit from the Garco Mill redevelopment nearby, which is expected to bring hundreds of employees and residents as it becomes a mixeduse development with office, retail and residential space. Other than memories, there’s not a lot that indicates the building was the beginning of North Charleston. A historic marker affixed to the outside of the building indicates it was the city hall for the fledgling city from 1972 to 1979.
Above: The outside of 1079 E. Montague Ave. sits in the heart of North Charleston’s Park Circle downtown area, which has become a vibrant commercial district for mixed-use development and retail. (Photos/ Wilson Kibler Commercial Real Estate) Left: Cason Development Group owns the property, which could be used as retail, restaurant, residential or office space, either with a single tenant or divided into two spaces with individual entrances.
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Jeremy Willits of Avison Young – South Carolina Inc. represented the landlord, 5900 Core Avenue LLC, in the lease of 910 square feet of office space in Suite 500 at 5900 Core Ave. in North Charleston to Way Media Inc.
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July 13 - 26, 2020
John Beam and Hagood Morrison of Bridge Commercial represented the seller in the sale of 4.23 acres of industrial space at 0 International Circle in Summerville for $370,125. Blair Belk and Trey Lucy of Belk Lucy represented the landlord in the lease of 2,991 square feet of retail space at 386 E. Fifth North St. in Summerville from Palmetto State Martial Arts 3 LLC. Mike Ferrer of Ferrer Commercial Real Estate Advisors represented the tenant.
Pete Harper, Reid Davis and Cameron Yost of Lee & Associates Charleston represented the tenant, Charleston Children’s Therapy Center, in the lease of 2,500 square feet of office space in Suite B at 3040 U.S. Highway 17 N. in Mount Pleasant from 3040 Realty LLC. Trey Zimmerman of Coldwell Banker Commercial Atlantic represented the landlord.
Reid Davis, Pete Harper and Cameron Yost of Lee & Associates Charleston represented the landlord, UIG Properties LLC, in the lease of 15,000 square feet of office space in Suite 300 at 3860 Faber Place Drive in North Charleston to Cambridge International Systems Inc. Ed Kercher of Cushman & Wakefield Thalhimer represented the tenant.
Bob Evans and Bob Caldwell of Caldwell Commercial Real Estate Services represented the landlord, North Rhett Executive Center LLC, in the lease of square office space in Suites 125 D&E at 5617 N. Rhett Ave. in North Charleston to Kiewit Infrastructure South Co. Mark Erickson of Colliers International represented the tenant. Jon-Michael Brock of Lee & Associates Charleston represented the landlord, Airbine Properties LLC, in the lease of 5,000 square feet of industrial space in Unit E at 5465 Woodbine Ave. in North Charleston to Liquid Culture LLC. Sarah Shelley of NAI Charleston represented the tenant. Robert Pratt of Re/Max Pro Realty represented the landlord, Robert L. Pratt LLC, in the lease of flex space in Suite C at 392 E. Fith North St. in Summerville to Engineered Systems Inc. Robert Pratt of Re/Max Pro Realty represented the seller, Al Taylor, in the sale of 2.25 acres of commercial land at 251 Judith Drive in Summerville to Stephen and Sheryl Korsen for $100,000. Roddy Matthews of Coldwell Banker Commercial represented the buyer. Robert Pratt of Re/Max Pro Realty represented the landlord, Robert L. Pratt LLC, in the lease of 3,021 square feet of flex space in Suite E at 400 E. Fifth North St. in Summerville to Food Service Solutions LLC.
Jeremy Willits of Avison Young – South Carolina Inc. represented the landlord, First Point Properties LLC, in the lease of 1,484 square feet of office space in Suite 1150 at 498 Wando Park Blvd. in Mount Pleasant to Bio Energy LLC. Kisha Lyles, Chris Fraser and Leslie Fellabom of Avison Young – South Carolina Inc. represented the tenant, Le Creme, in the lease of 4,000 square feet of retail space in Unit I at Plantation Shopping Center, at 8440 Dorchester Road in
July 13 - 26, 2020
IN FOCUS: COMMERCIAL REAL ESTATE
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Hot Properties North Charleston from Carolina Capital Partners LLC. Jack Owens and Walker Hahn of NAI Charleston LLC represented the landlord. Daniel McClam, Todd Garrett and Tradd Varner of Avison Young – South Carolina Inc. represented the tenant, White Glove Detailers LLC, in the lease of 1,500 square feet of industrial space at 1070 Jenkins Road in Charleston from 1065 Jenkins LLC. Bryan Perrucci of Southeastern Management Group represented the landlord. Tradd Varner, Todd Garrett and Daniel McClam of Avison Young – South Carolina Inc. represented the buyer, Halosure 4520 LLC, in the purchase of 9,237 square feet of industrial space at 4520 Dorchester Road in North Charleston from Presbyterian Properties LLC for $665,000. Scott Peevy of NAI Charleston represented the seller. John Beam and Hagood Morrison of Bridge Commercial represented the landlord, Warehouse Rentals LLC, in the lease of 39,375 square feet of warehouse space at 264 and 270 Deming Way in Summerville.
Ed Kercher of Cushman & Wakefield Thalhimer represented the tenant, Cambridge International Systems Inc., in the lease renewal of 15,000 square feet of office space at 3860 Faber Place Drive in North Charleston.
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Cori Nuttall of Lee & Associates Charleston represented the tenant, Onin Staffing, in the lease of 2,698 square feet of office and retail space in Suite 150 at 7620 Rivers Ave. in North Charleston from ACR NWNCHSC001 LLC. Jeff Yurfest of The Shopping Center Group represented the landlord. Jeremy Willits and Gerry Schauer of Avison Young – South Carolina Inc. represented the landlord, Maple View Properties LLC, in the lease of 1,092 square feet of office space in Suite 202 at 884 Johnnie Dodds Blvd. in Mount Pleasant to Charleston Home Health Care LLC. Anne Lawless of Cityvolve LLC represented the tenant.
Jeremy Willits and Gerry Schauer of Avison Young – South Carolina Inc. represented the landlord, Pal of Charleston LLC, in the lease of 3,000 square feet of office space in Suite 200 at 1407 Stuart Engals Blvd. in Mount Pleasant to Mappus Insurance Agency Inc. Buddy Bebergal of Carolina Commercial LLC represented the tenant.
Nick Tanana and Brady Dashiell of Cushman & Wakefield Thalhimer represented the tenant, BSN Sports LLC, in the lease of 6,007 square feet of industrial space at 2456 Remount Road in North Charleston. Ed Kercher of Cushman & Wakefield Thalhimer represented the tenant, ECS Federal LLC, in the lease renewal of 10,897 square feet of industrial space at 2456 Remount Road in North Charleston. Robert Pratt of Re/Max Pro Realty represented the seller, Limehouse Investments LLC, in the sale of 1 acre of land at 112 Fabricators St. in Summerville to Atlas Development LLC for $130,000.
Jordan Blanton of GCB Real Estate represented the landlord, Blanton Land Development Corp., in the lease of 1,200 square feet of office space in Suite 301 at 3255 Landmark Drive in North Charleston to A Second Chance Resource Center.
Robert Pratt of Re/Max Pro Realty represented the landlord, Robert L. Pratt LLC, in the lease of flex space in Suite A at 400 E. Fifth North St. in Summerville to Tank Service Inc. Todd Garrett, Tradd Varner and Daniel McClam of Avison Young – South Carolina Inc. represented the landlord, Cainhoy LLC, in the lease of 4,120 square feet of industrial space in Unit 206 at 2300 Clements Ferry Road in Wando to Insulsteel of South Carolina LLC. Alan Bolduc, Courtney Marous, and Kathleen Isola of Avison Young represented the tenant. See HOT PROPERTIES, Page 20
Coleman Central
20
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IN FOCUS: COMMERCIAL REAL ESTATE
Hot Properties Tradd Varner, Todd Garrett and Daniel McClam of Avison Young represented the seller, UMB Bank, as National Trustee, in the sale of 85,325 square feet of industrial space at 111 Old Depot Road in Moncks Corner to Jet Park Warehousing LLC for $3.05 million.
HOT PROPERTIES, from Page 19
Todd Garrett, Tradd Varner, and Daniel McClam of Avison Young – South Carolina Inc. represented the landlord, 756 St. Andrews Blvd LLC, in the lease of 2,100 square feet of industrial space in Unit 100 at 7187 Bryhawke Circle in North Charleston to Business Cleaning Solutions LLC.
Cameron Yost, Reid Davis and Pete Harper of Lee & Associates Charleston represented the landlord, 4000 Faber Place Charleston LLC, in the lease of 3,083 square feet of office space in Suite 220 at 4000 Faber Place Drive in North Charleston to Leidos Inc. Kevin Coats of JLL represented the tenant.
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Keith Mayfield and Phil Rose of Twin Rivers Capital LLC represented the landlord, Meyers Moss LLC, and the tenant, Ashley Correa, in the lease of 420 square feet of office space in Suite 205 at 192 East Bay St. in Charleston.
Pete Harper, Cameron Yost, Reid Davis of Lee & Associates Charleston represented the landlord, 1014 St. Andrews Office Building LLC, in the lease of 9,505 square feet of medical space in Suite 300 at 1014 St. Andrews Blvd. in Charleston to Sweetgrass Plastic Surgery. Jenna Philipp of Palmetto Commercial Properties LLC represented the tenant.
Bank of America: Kevin Coats, JLL Merrill Lynch & Serendipity Labs: Lee Allen, JLL TD Bank & ISU Group: Charlie Carmody, CBRE Fidelity: Nick Tanana, C&W/ Thalhimer TIAG: Leslie Fellabom, Avison Young Southern Trust Mortgage: Kristie Roe, Colliers Charleston Battery: Cameron Yost, Lee & Assoc. A DEVELOPMENT OF
July 13 - 26, 2020
Phil Rose of Twin Rivers Capital LLC represented the landlord, Twin Rivers Capital LLC, in the lease of 153 square feet of office space at 1 Carriage Lane in Charleston to Parent Financial Inc. Todd Garrett, Tradd Varner and Daniel McClam of Avison Young – South Carolina Inc. represented the landlord, 9481 Industrial Center Drive LLC, in the lease of 3,575 square feet of flex space in Unit 6 at 9481 Industrial Center Drive in North Charleston to Carolina Business Equipment Inc. Jon Chalfie of Lee and Associates represented the tenant. Blair Belk and Trey Lucy of Belk Lucy represented the landlord in the lease of 1,800 square feet of retail space at 378 E. Fifth North St. Summerville to Lowcountry Cycles. Darlana Fiehtsam of Carolina One represented the tenant.
Robert Pratt of Re/Max Pro Realty represented the tenant, TargetMarket Inc., in the lease of 1,713 square feet of flex space in Suite B7 at 405 N. Maple St. in Summerville from 405 North Maple LLC. Brett Rashtchian of Re/Max Pro Realty represented the landlord.
Bob Nuttall of Lee & Associates Charleston represented the tenant, iQor US Inc., in the lease of 52,583 square feet of office space at 8440 Dorchester Road in North Charleston from Reid Davis. Charlie Carmody of CBRE represented the landlord.
Todd Garrett, Tradd Varner and Daniel McClam of Avison Young represented the landlord, 9481 Industrial Center Drive LLC, in the lease of 3,575 square feet of flex space in Unit 5 at 9481 Industrial Center Drive in North Charleston to Power Products and Solutions LLC. Charles Swanson of Park Commercial Real Estate represented the tenant.
Robert Pratt of Re/Max Pro Realty represented the landlord, Bayview Holdings LLC, in the lease of 2,170 square feet of warehouse space in Suite A at 118 Farm Road in Summerville to Gutter Gorilla. Ernest Govan of RealtyOne Group Coastal represented the tenant.
Todd Garrett, Tradd Varner and Daniel McClam of Avison Young South Carolina Inc. represented the landlord, Roger K. Davis, in the lease of 2,000 square feet of industrial space in Unit B at 2561 Oscar Johnson Drive in North Charleston to Craig’s Amusements. Casey Lowery of Adams Property Group represented the landlord, 41 Grand Oaks Retail LLC, in the lease of 2,500 square feet of retail space at 41 Grand Oaks Blvd. in Charleston to Luxia Nails LLC. Reeves Major of NAI Charleston represented the tenant. Mark Erickson and Matt Pickard of Colliers International South Carolina represented the tenant, Global Transportation Services Inc., in the lease of 6,241 square feet of office space at 4500 Goer Drive in North Charleston from Elizabeth Turner. Mark Erickson and Matt Pickard of Colliers International South Carolina represented the tenant, Merrill Technologies, in the lease of 7,800 square feet of industrial space at 1032 Legrand Blvd. in Charleston.
July 13 - 26, 2020
IN FOCUS: COMMERCIAL REAL ESTATE
www.charlestonbusiness.com 21
Hot Properties Kristie Roe, Alex Irwin and William Ederle of Colliers International South Carolina represented the tenant, Mid-Atlantic Safety Council, in the lease of 3,170 square feet of office space at 8740 N. Park Boulevard in North Charleston.
Robert Pratt of Re/Max Pro Realty represented the landlord, Crescent City Investments, in the lease of 1,161 square feet of office space in Suite 375 at 301 Oakbrook Lane in Summerville to Viable Energy Solutions LLC. Jeremy Willits and Gerry Schauer of Avison Young South Carolina Inc. represented the landlord, Three Broad Inc, in the lease of 315 square feet of office space at 3 Broad St. in Charleston to Export Tax Management Inc. Mark Erickson and Matt Pickard of Colliers International South Carolina represented the tenant, Nestle Waters North America Inc., in the lease of 8,000 square feet of industrial space at 1006 Bankton Drive in Hanahan.
Robert Pratt of Re/Max Pro Realty represented the landlord, Michael Cox, in the lease of 2,000 square feet of office space in Suite 302 at 5401 Netherby Lane in Summerville to RSFH-ATI Physical Therapy LLC.
Ryan Welch and Milton Thomas of Lee & Associates Charleston represented the landlord, Charleston Regional Investments LLC, in the lease of 50,000 square feet of industrial space at 2325 Charleston Regional Parkway in Charleston to Narrow Isle Productions LLC. Ian Webster of Coldwell Banker Commercial Atlantic represented the tenant. Tradd Varner, Todd Garrett and Daniel McClam of Avison Young South Carolina Inc. represented the tenant, Kirk Nationalease Co., in the lease of 5,000 square feet square feet of industrial space in Building B at 4365 Headquarters Road in North Charleston from Smith & Smith Inc. Brumley Smith of Palmetto Commercial Properties LLC represented the landlord.
Hagood S. Morrison and Hagood Morrison Sr. of Bridge Commercial represented the seller, an affiliate of Southeastern Freight Lines Inc., in the sale of a 20-acre industrial site and two industrial buildings at 2880 Ashley Phosphate Road in North Charleston to GMH Land Holdings Inc. for $3.5 million. John Beam and Brooks Courtney of Bridge Commercial represented the buyer.
Benjy Cooke of Oswald Cooke & Associates represented the seller, Michael Stephen Varn and William Hurtes, in the sale of 6,038 square feet of retail space at 1649 Savannah Highway in Charleston to 438 6th Avenue Associates LLC for $1.075 million. Blair Hines of Oswald Cooke & Associates represented the buyer.
Jenna S. Philipp of Palmetto Commercial Properties represented the landlord, 1639 Tatum LLC, and the tenant, Gold Key Investing LLC, in the lease of 1,200 square feet of office space at 1639 Tatum St. in Charleston.
Bob Caldwell and Bob Evans of Caldwell Commercial Real Estate Services represented the landlord, Greenville Corporate LLC, in the lease of 10,897 square feet of office space in Suite 305 at 2456 Remount Road in North Charleston to ECS Federal LLC. Ed Kercher of Cushman & Wakefield Thalhimer represented the tenant.
Chad Yonce of Southeastern Management Group represented the landlord, 539 King Street LLC, in the lease of 1,200 square feet of retail space at 539 King St. in Charleston to Wild Side Smoke Shop. Kort Stutz and Carlmichael Harrison of The Beach Co. represented the tenant. Tradd Varner, Todd Garrett and Daniel McClam of Avison Young South Carolina Inc. represented the tenant, SRI Lowcountry LLC, in the lease of 10,000 square feet of industrial space at 7289-B Spa Road in North Charleston from M&C of Charleston LLC. Thomas Buist of Lee & Associates represented the landlord. Robert Pratt of Re/Max Pro Realty represented the landlord, Parkway Associates of Summerville LLC, in the lease of 2,667 square feet of office space in Suites B & C at 1710 Old Trolley Road in Summerville to Ammons Implant & Dental Services LLC.
Jeff Yurfest and Anthony Blanco of The Shopping Center Group represented the seller, Monarch at Centre Pointe LLC, in the sale of 139,688 square feet of retail space at The Shoppes at Centre Pointe, at 4950 Centre Pointe Drive in North Charleston, to Olympic Property Management for $17.1 million.
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1430 Ashley River Road, Charleston, SC 29407 • 843.225.0406 www.jmusselmanconstruction.com
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843.554.7777 | www.plssc.com
22
IN FOCUS: COMMERCIAL REAL ESTATE
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July 13 - 26, 2020
Commercial Real Estate Firms Ranked by No. of Sale/Lease Transactions in 2019 Company
Phone / Website / Email
Broker(s) in Charge / Year Founded
Transactions: No. / Value
Comm. Brokers / Current Listings / Lowcountry Offices
Re/Max Pro Realty 9209 University Blvd. North Charleston, SC 29406
843-767-7777 www.remaxprorealty.org brenda.ray@remax.net
Velvaleen Thurber-Everett 2006
358 $35,870,840
9 98 1
Agricultural; flex; health care; income-producing; industrial; land; multifamily; office; restaurant; retail; sports, entertainment; warehouse
Avison Young - South Carolina Inc. 1315 Ashley River Road Charleston, SC 29407
843-725-7200 www.avisonyoung.com chris.fraser@avisonyoung.com
Charlene Massey, Christopher B. Fraser 1978
298 $115,963,869
16 143 1
Agricultural; flex; health care; hotel, motel; incomeproducing; industrial; land; multifamily; office; restaurant; retail; sports, entertainment; warehouse
Lee & Associates - Charleston 960 Morrison Drive, Suite 400 Charleston, SC 29403
843-747-1200 www.lee-charleston.com leecharlestonhelp@lee-associates.com
Bob Nuttall 1999
288 $152,083,205
18 141 1
Flex; health care; income-producing; industrial; land; multifamily; office; restaurant; retail; warehouse
Beach Commercial, a Division of The Beach Co. 211 King St., Suite 300 Charleston, SC 29401
843-722-2615 www.beachcommercialre.com jdickerson@thebeachcompany.com
Leonard D. Way, John Darby 1945
183 $58,382,177
6 49 3
Flex; income-producing; industrial; land; multifamily; office; restaurant; retail; warehouse
CBRE Inc. 200 Meeting St., Suite 202 Charleston, SC 29401
843-577-0702 www.cbre.us/charlestonsc cindy.new@cbre.com
Stephen B. Smith 1992
183 $205,957,072
10 112 1
Flex; health care; hotel, motel; income-producing; industrial; land; multifamily; office; restaurant; retail; sports, entertainment; warehouse
Bridge Commercial 25 Calhoun St., Suite 220 Charleston, SC 29401
843-535-8600 www.bridge-commercial.com info@bridge-commercial.com
Peter S. Fennelly 2017
139 $195,952,018
16 70 1
Agricultural; flex; health care; hotel, motel; incomeproducing; industrial; land; multifamily; office; restaurant; retail; sports, entertainment; warehouse
Carolina One Real Estate Services 4024 Salt Pointe Parkway Charleston, SC 29405
843-200-2000 www.carolinaonerealestate.com mcs@carolinaone.com
Michael C. Scarafile 1964
110 $80,000,000
42 104 15
Agricultural; flex; hotel, motel; income-producing; industrial; land; multifamily; office; retail; warehouse
NAI Charleston LLC 141 Williman St. Charleston, SC 29403
843-720-4944 www.naicharleston.com info@naicharleston.com
Thomas M. Boulware 2017
104 $112,791,479
11 115 1
Agricultural; flex; health care; hotel, motel; incomeproducing; industrial; land; multifamily; office; restaurant; retail; sports, entertainment; warehouse
Belk Lucy 636 King St. Charleston, SC 29403
843-856-4600 www.belklucy.com trey.lucy@belklucy.com
Blair Belk, Trey Lucy 2013
85 $21,170,000
7 70 1
Flex; health care; income-producing; land; office; restaurant; retail; warehouse
Adams Property Group 2298 Mount Pleasant St. Charleston, SC 29403
843-941-4001 www.adamspropgroup.com info@adamspropgroup.com
Franklin Adams, Casey Lowery 2008
69 $58,964,635
5 4 1
Flex; office; retail; warehouse
Southeastern Management Group Inc. 151 King St. Charleston, SC 29401
843-577-8595 www.semgsc.com semg@semgsc.com
Chad Yonce 1997
65 $31,800,994
2 25 1
Flex; health care; income-producing; industrial; land; multifamily; office; restaurant; retail; warehouse
Palmetto Commercial Properties LLC 578 East Bay St., Suite A Charleston, SC 29403
843-577-2550 www.palmettocommercialproperties.com info@pcpsc.com
Eddie Buxton 1996
53 $2,013,551
13 54 1
Agricultural; flex; health care; hotel, motel; incomeproducing; industrial; land; multifamily; office; restaurant; retail; sports, entertainment; warehouse
Landmark Enterprises 311 Johnnie Dodds Blvd. Mount Pleasant, SC 29464
843-884-8166 www.landmark-enterprises.com info@landmark-enterprises.com
Gene W. Blanton 1974
51 $77,821,196
8 29 1
Agricultural; flex; health care; hotel, motel; incomeproducing; industrial; land; multifamily; office; restaurant; retail; sports, entertainment; warehouse
Cushman & Wakefield Thalhimer 115 Central Island St., Suite 175 Charleston, SC 29492
843-724-0100 www.thalhimer.com info@thalhimer.com
Ed Kercher 1913
46 $64,192,696
5 17 1
Flex; industrial; land; multifamily; office; restaurant; retail; warehouse
JLL - Jones Lang LaSalle 701 East Bay St., Suite 308 Charleston, SC 29403
843-805-5111 www.jll.com/charleston brooke.eyrich@am.jll.com
Lee B. Allen 1939
46 $196,563,747
3 24 1
Flex; health care; income-producing; industrial; land; office; retail; warehouse
National Restaurant Properties 237 King St., Suite 2A Charleston, SC 29401
843-442-1872 www.restaurantstore.com hagar@bellsouth.net
Timothy J. Hagar 2000
32 -
3 40 1
Land; restaurant; retail
Marcus & Millichap 151 Meeting St., Suite 450 Charleston, SC 29401
843-952-2300 www.marcusmillichap.com byelm@marcusmillichap.com
Benjamin Yelm 1971
31 $103,213,299
17 31 1
Flex; health care; hotel, motel; income-producing; industrial; land; multifamily; office; restaurant; retail; sports, entertainment; warehouse
AgentOwned Realty Group 824 Johnnie Dodds Blvd. Mount Pleasant, SC 29466
843-709-8488 www.agentowned.com liz@agentownedrealty.com
Boyd Loadholt 1992
29 $17,576,849
15 20 20
Income-producing
Lane Properties of Charleston LLC 746 St. Andrews Blvd., Suite B Charleston, SC 29407
843-769-9919 www.laneproperties.com administrator@laneprops.com
Mark C. Lane 1967
29 $47,509
1 5 1
Flex; health care; income-producing; industrial; multifamily; office; restaurant; retail; warehouse
Adams & Wilson Development 835 Lowcountry Blvd. Mount Pleasant, SC 29464
843-216-9990 www.adamswilsondevelopment.com scott@adamswilsondevelopment.com
Scott D. Adams 2006
28 $23,643,788
5 4 1
Flex; income-producing; industrial; land; office; restaurant; retail
Carr Properties LLC 5806 Campbell St. Hanahan, SC 29410
843-744-2863 www.carr-properties.com walter@carr-properties.com
Walter D. Carr 1999
22 $3,900,000
3 6 1
Flex; income-producing; industrial; land; multifamily; office; retail; warehouse
The Commonwealth Co. Inc. 171 Church St., Suite 300 Charleston, SC 29401
843-577-8877 www.thecommonwealthcompany.com commonwealthjimm@prodigy.net
James R. Moring 1997
22 $7,859,000
6 26 1
Hotel, motel; income-producing; land; restaurant
Dunes Commercial Properties LLC 835 Coleman Blvd., Suite 200 Mount Pleasant, SC 29464
843-881-5600 www.dunesproperties.com realestate@dunesproperties.com
Luiz T. Yamashita 2015
20 $120,000
5 10 5
Office
Maybank Properties LLC 1 Cordes St. Charleston, SC 29413
843-740-9202 www.maybankproperties.com mmcfall@MaybankProperties.com
David Maybank, Michael G. McFall 1997
20 $15,000,000
2 3 1
Industrial; land; warehouse
Miler Properties Inc. 625 Old Trolley Road Summerville, SC 29485
843-821-1111 www.milerproperties.com rlmiler@milerproperties.com
Richard L. Miler 1985
20 $2,000,000
2 5 1
Flex; income-producing; land; office
Because of space constraints, sometimes only the top-ranked companies are published in the print edition. View the full list online at www.scbiznews.com/buybusiness-lists. Although every effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to lists@scbiznews.com.
Types of Properties
Researched by Paige Hardy
IN FOCUS: COMMERCIAL REAL ESTATE
July 13 - 26, 2020
www.charlestonbusiness.com 23
Commercial Real Estate Firms Ranked by No. of Sale/Lease Transactions in 2019
Transactions: No. / Value
Comm. Brokers / Current Listings / Lowcountry Offices
Michael G. White 2007
18 $32,000,000
5 14 1
Flex; industrial; land; office; warehouse
843-577-7406 pattersonsmithco@aol.com
Patterson S. Smith 1976
18 $6,000,000
2 14 1
Flex; income-producing; industrial; land; multifamily; office
The Brokerage LLC 3404 Salterbeck St., Suite 202A Mount Pleasant, SC 29466
843-364-6720 www.thebrokerageyouwinhere.com david@seaydevelopment.com
David H. Seay 2019
15 $9,500,000
4 7 1
Agricultural; flex; health care; hotel, motel; incomeproducing; industrial; land; multifamily; office; restaurant; retail; sports, entertainment; warehouse
The PrimeSouth Group LLC 418 King St., Suite 201 Charleston, SC 29403
843-722-4450 www.primesouthgroup.com clprice@primesouthgroup.com
Christopher L. Price 1996
15 $4,500,000
7 14 1
Hotel, motel; income-producing; office; restaurant; retail
Carolina Commercial LLC 999 Lake Hunter Drive, Suite B Mount Pleasant, SC 29464
843-805-6060 www.carolinacre.com info@carolinacre.com
Debi Jones, Dunston Powell, Charles L. Moore 2010
10 $8,963,000
4 17 1
Flex; income-producing; industrial; land; multifamily; office; restaurant; retail; warehouse
Weichert Realtors Palmetto Coast 1035 Johnnie Dodds Blvd., Suite 2B Mount Pleasant, SC 29464
843-375-2075 www.weichertpc.com admin@weichertpc.com
Annalisa Jordan 2001
10 $6,000,000
1 2 2
Income-producing; multifamily
Holder Properties 75 Port City Landing, Suite 100 Mount Pleasant, SC 29464
843-409-0888 www.holderproperties.com fgray@holderproperties.com
Billy Cooke, Friend Gray 1980
8 $10,600,000
3 6 5
Office; retail
Strategic Asset Management 353 N. Shelmore Blvd., Suite 200 Mount Pleasant, SC 29464
843-416-1062 www.readvisors.com hmyers@sreadvisors.com
Harris Myers 2004
8 $3,500,000
1 6 1
Flex; income-producing; industrial; multifamily; office; retail; warehouse
Commercial Investment Group LLC 1910 Capri Drive Charleston, SC 29407
843-406-7979 www.cominvestgroup.com pjd@cominvestgroup.com
P. John DeStefano 2006
7 $8,000,000
1 7 1
Income-producing; industrial; land; multifamily; office; retail
Durlach Associates 1127 Queensborough Blvd., Suite 105 Mount Pleasant, SC 29464
843-723-2801 www.durlach.com
John R.N. Durlach 1979
7 $12,170,000
3 3 1
Office
Laurel Properties of Charleston LLC 742 Lakenheath Drive Charleston, SC 29464
843-958-8986 gerrymccord@gmail.com
Gerry McCord 1975
7 -
1 1
Income-producing
Marshall Walker Real Estate 582 Rutledge Ave. Charleston, SC 29403
843-225-7007 www.marshallwalker.com operations@marshallwalker.com
Marshall D. Walker 2003
7 $637,723
4 12 1
Flex; income-producing; office; restaurant; retail; warehouse
Colliers International 40 Calhoun St., Suite 460 Charleston, SC 29401
843-723-1202 www.colliers.com liz.mccary@colliers.com
Jim Garrett 1909
6 $5,819,000
10 21 1
Agricultural; flex; health care; hotel, motel; incomeproducing; industrial; land; multifamily; office; restaurant; retail; warehouse
DeSeta Realty Group LLC 2456 Remount Road, Suite 305A North Charleston, SC 29406
610-656-8017 www.desetagroup.com alex@desetagroup.com
Alexis DeSeta 2015
6 $6
1 5 1
Retail
Maven Realty 2180 McMillan Ave., Suite 71672 North Charleston, SC 29405
843-817-4431 www.mavenrealtysc.com troygandee@gmail.com
Troy F. Gandee 2017
6 $5,000,000
3 2 1
Income-producing
Carriage Properties LLC 19 Exchange St. Charleston, SC 29401
843-266-8000 www.carriageprop.com carriageproperties@carriageprop.com
Lynn Hanlin, Melinda Laurens, Olin Chamberlain, Charles Sullivan, Judy Tarleton 2002
4 $5,620,000
7 6 1
Flex
Coastalina Realty of Charleston 916 Palm Blvd., Suite 101 Isle of Palms, SC 29451
843-242-8220 www.coastalinarealtyofcharleston.com tbennett@coastalinarealty.com
Kitty Power Duncan 2011
3 $1,240,000
3 6 1
Income-producing; land; multifamily; office; retail
Elite Palmetto Real Estate 6650 Rivers Ave. North Charleston, SC 29406
843-410-8246 www.elitepalmettorealestate.com Darryl@elitepalmetto.com
Darryl J. Robinson 2015
3 $990,000
1 1 1
Flex
Complete Real Estate 2248 Lamb St. Charleston, SC 29414
843-270-8899 barbarahunter2248@gmail.com
Barbara Hunter 2002
2 -
2 7 1
Agricultural; flex; income-producing; industrial; land; multifamily; office; restaurant; retail
ACRE-C O Nick Thompson III 4996 Maybank Highway Wadmalaw Island, SC 29487
843-762-5722 acrenick3@gmail.com
C. O. Nick Thompson, III 2002
1 -
1 1
Income-producing
Ebb & Flow Real Estate LLC P.O. Box 21797 Charleston, SC 29413
843-270-9250 www.ebbandflowrealestate.com thomas@ebbandflowrealestate.com
Thomas K. Happel 2014
1 $385,000
1 1
Office
The Montez Team 4040 Cedars Parkway, Unit F North Charleston, SC 29420
843-577-4050 rossiecolter1@gmail.com
Rossie M. Colter 2015
1 -
1 1 1
Office
Wm. Iselin Co. LLC 198 East Bay St., Suite 101 Charleston, SC 29401
843-729-7782 www.webcharleston.com wiselin@aol.com
William J. Iselin 1987
1 $500,000
1 1 1
Agricultural; income-producing; industrial; land; office; restaurant; retail
C3 Investments Inc. 220 Church St., Suite 101 Mount Pleasant, SC 29464
843-849-5455 c3investments@comcast.net
C. Gordon Lovingood 1987
-
1
Hotel, motel; office; retail
Caldwell Commercial 2456 Remount Road, Suite 308 Charleston, SC 29406
843-367-7000 caldwellcommercial.com bob@caldwellcommercial.com
Robert Caldwell 2000
-
3 20 1
Flex; health care; hotel, motel; income-producing; industrial; land; office; restaurant; retail; warehouse
Norvell Real Estate Group LLC 1000 Johnnie Dodds Blvd., Suite 103-347 Mount Pleasant, SC 29464
843-579-0055 www.norvellgroup.com info@norvellgroup.com
Frank W. Norvell 1998
-
3 1
Flex; health care; income-producing; industrial; land; office; restaurant; retail
Ravenel Commercial Properties 960 Morrison Drive, Suite 201 Charleston, SC 29403
843-266-3900 www.ravenelcommercial.com info@ravenelcommercial.com
Jules Deas 2014
-
5 1
Agricultural; flex; health care; hotel, motel; incomeproducing; industrial; land; multifamily; office; restaurant; retail; sports, entertainment; warehouse
Twin Rivers Capital LLC 656 Ellis Oak Ave., Suite 201 Charleston, SC 29412
843-722-9925 www.twinriverscap.com jj@twinriverscap.com
Jeffrey J. Lamberson 2002
-
8 1
Flex; income-producing; industrial; land; office; restaurant; retail; warehouse
Company
Phone / Website / Email
Charleston Industrial 225 Seven Farms Drive, Suite 401 Charleston, SC 29492
843-377-8383 www.charlestonindustrial.com mike.white@charlestonindustrial.com
Patterson Smith Co. Inc. 51 John St. Charleston, SC 29403
Broker(s) in Charge / Year Founded
Because of space constraints, sometimes only the top-ranked companies are published in the print edition. View the full list online at www.scbiznews.com/buybusiness-lists. Although every effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to lists@scbiznews.com.
Types of Properties
Researched by Paige Hardy
24
IN FOCUS: COMMERCIAL REAL ESTATE
www.charlestonbusiness.com
July 13 - 26, 2020
Independent Insurance Cos. Listed Alphabetically
1st Capital Insurance 1067 Cliffwood Drive Mount Pleasant, SC 29464 843-216-2772 www.1stcapitalins.com
Baxter Agency Inc. 105 Lumber Lane Goose Creek, SC 29445 843-797-0505 www.davidclemmonsagency.com
Cornerstone Insurance Group LLC 1354 State Road Summerville, SC 29486 843-899-7283 www.cornerstoneinssc.com
The Ferguson Agency 9229 University Blvd., Suite A North Charleston, SC 29406 843-797-7285 www.fergusoninsuranceteam.com
Hibbits Insurance 140 W. Richardson Ave., Suite B Summerville, SC 29483 843-871-1095 www.hibbitsinsurance.com
ADD LLC 2506 Gatewood St. Daniel Island, SC 29492 617-529-9471
Blueprint Insurance Group 357 N. Shelmore Blvd., Unit 1C Mount Pleasant, SC 29464 843-216-8224 www.blueprotects.com
Correll Insurance Group 120 S. Magnolia St. Summerville, SC 29483 843-486-8711 www.correllinsurance.com
The General Agency Inc. 1527 Sam Rittenberg Blvd. Charleston, SC 29407 843-766-9091 www.generalagencyinc.com
HUB International Charleston 4401 Leeds Ave. North Charleston, SC 29405 843-529-5470 www.hubinternational.com
C.T. Lowndes & Co. 749 St. Andrews Blvd. Charleston, SC 29407 843-513-1719 www.ctlowndes.com
Corvino Insurance Agency Inc. 810 Travelers Blvd., Suite F1 Summerville, SC 29485 843-873-6776 www.corvinoinsurance.com
Gill Insurance Agency 800 Johnnie Dodds Blvd., Suite 102 Mount Pleasant, SC 29464 843-388-5021 www.gillagencies.com
Insurance Office of America 4400 Leeds Ave., Suite 470 North Charleston, SC 29405 800-243-6899 www.ioausa.com
C2G Capital Management LLC 101 Owens Circle Summerville, SC 29483 843-879-0941 www.c2gcapitalmanagementllc.com
Crescent Insurance Advisors 635 East Bay St., Suite D Charleston, SC 29403 803-832-2525 www.crescentagency.com
H & H Insurance Brokers 29 Leinbach Drive, Building D, Suite 1 Charleston, SC 29407 843-352-2381 www.handhinsurancebrokersofsc.com
Insurance Solutions 210 W. Coleman Blvd., Suite T Mount Pleasant, SC 29464 843-375-0200 www.insurancesolutionssc.com
ChristianCo Inc. 1527 Sam Rittenberg Blvd., Suite 204 Charleston, SC 29407 843-327-8439 www.gochristianco.com
Cypress Insurance Advisors LLC 180 East Bay St. Charleston, SC 29401 843-561-9200 www.cypressinsure.com
Harleston Insurance Group 796 Meeting St., Charleston, SC 29403 843-364-6565 www.harlestoninsurance.com
King Street Agency 1819 Meeting St., Suite 100 Charleston, SC 29405 843-300-1253 www.kingstreetagency.com
Cliff Heath Insurance Inc. 1531 Sam Rittenberg Blvd. Charleston, SC 29407 843-766-6316 www.cliffheathinsurance.com
Cypress Risk Management 1325 Cypress Campground Road Ridgeville, SC 29472 843-688-6800 www.cypressrisk.com
Alliance Insurance Services LLC 902 Savannah Highway Charleston, SC 29407 843-881-0103 www.allianceinsuranceservices.net Anderson Insurance Associates LLC 3491 Shelby Ray Court Charleston, SC 29414 843-763-7525 www.aiasc.com AssuredPartners of SC LLC 3860 Faber Place Drive, Suite 400 North Charleston, SC 29405 843-552-3466 www.assuredpartners.com Atlantic Shield Insurance Group 421 Johnnie Dodds Blvd., Suite 200 Mount Pleasant, SC 29464 843-856-2909 www.atlanticshield.com Bates Insurance Group 597 Old Mount Holly Road, Unit 300 Goose Creek, SC 29445 843-824-8000 www.batesinsg.com
Harrell Insurance Agency 2000 Sam Rittenberg Blvd., Suite 124 Charleston, SC 29407 843-766-5533 www.harrell-insurance.com
East Coast Insurance Group LLC 407 W. 2nd North St., Summerville, SC 29483 843-285-5348 www.eastcoastinsgroupllc.com
The Insurance Agency of Choice
Harry Morse Insurance Agency 2128 Ashley Phosphate Road, Suite 200 North Charleston, SC 29406 843-824-8415 www.harrymorseins.com
Lesemann Insurance Agency 4 Carriage Lane, Suite 301 Charleston, SC 29407 843-571-6721 www.insuranceagencycharleston.com
Source: Independent Insurance Agents & Brokers of South Carolina
Local business news updates... as they happen!
@CRBJ In business since 1850. South Carolina’s oldest independent insurance agency. Charleston Mt. Pleasant Summerville Walterboro Goose Creek Moncks Corner Edisto Island Myrtle Beach
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IN FOCUS: COMMERCIAL REAL ESTATE
July 13 - 26, 2020
www.charlestonbusiness.com 25
Independent Insurance Cos.
Listed Alphabetically
Lighthouse Insurance Benefits 1055 N. Main St., Suite B Summerville, SC 29483 843-628-2981 www.lighthouseinsurancebenefits.com
Metts Insurance Agency Inc. 705 Old Trolley Road, Suite C Summerville, SC 29485 843-832-9990 www.nwagent.com/jennifer_metts.html
Ralph F. McCay Agency Inc. 1730 Savannah Highway Charleston, SC 29407 843-766-6316 www.cliffheathinsurance.com
Strickland Marine Agency Inc. 125 Wappoo Creek Drive, Suite D3 Charleston, SC 29412 843-795-4555 www.stricklandmarineinsurance.com
Triest Agency 1052 Gardner Road Charleston, SC 29407 843-556-6232 www.triestagency.com
Lowcountry Insurance Solutions 3221 S. Live Oak Drive Moncks Corner, SC 29461 843-761-4923 www.lowcountryinsurancesolutions.com
Mims-Garrett Insurance Services 400 Altman St., Suite A Moncks Corner, SC 29461 843-899-9000 www.mgi-ins.com
Sadler & Hamm Inc. 22 Windermere Blvd., Suite A Charleston, SC 29407 843-766-0261 www.sadlerandhamm.com
Strovis Insurance Agency LLC 310 N. Gum St., Suite A Summerville, SC 29483 843-821-1009 www.strovisinsurance.com
Turbeville Insurance Agency Inc. 670 Marina Drive, Suite 301 Charleston, SC 29492 843-569-3920 www.tiasc.biz
Manning Insurance Services 302 Midland Parkway, Suite A Summerville, SC 29485 843-771-0660 www.manninginsuranceservices.com
Moulton & Sheally Insurance - Charleston 821 Orleans Road Charleston, SC 29407 843-556-4221 www.moultonsheally.com
Sam Schirmer Insurance 1312 Bowman Road Mount Pleasant, SC 29464 843-881-4707 www.schirmerinsuranceagency.com
Swamp Fox Agency 1122 Pinopolis Road Moncks Corner, SC 29461 843-761-3999 www.swampfoxagency.com
USI Insurance Services LLC 235 Magrath Darby Blvd., Suite 325 Mount Pleasant, SC 29464 843-573-2600 www.usi.com
Mappus Insurance Agency Inc. 1407 Stuart Engals Blvd., 2nd Floor Mount Pleasant, SC 29464 843-763-4200 www.mappusinsurance.com
Palmetto Moon Insurance Agency 1037 Chuck Dawley Blvd., Suite D104 Mount Pleasant, SC 29464 843-375-1234 www.palmettomoon.com
SCF Solutions LLC 6265 Rivers Ave. North Charleston, SC 29406 843-569-4740 www.scfinsurance.org
Sweetgrass Insurance Agency 113 Wappoo Creek Drive, Suite 4 Charleston, SC 29412 843-478-3926 www.sweetgrassinsurance.com
W.C. Wilbur & Co. 1072 E. Montague Ave. North Charleston, SC 29405 843-744-1662 www.wcwilbur.com
McKay Insurance Inc. 1321 Chuck Dawley Blvd., Suite 201 Mount Pleasant, SC 29464 843-881-2229 www.restinsuredcharleston.com
PC&L Agency Inc. 1064 Gardner Road, Suite 216 Charleston, SC 29407 843-763-1709 www.pclagencyinc.com
Schirmer Insurance Group LLC 2900 N. Main St., Suite E Moncks Corner, SC 29461 843-482-0130 www.sigsc.com
Taylor Agency 147 Wappoo Creek Drive, Suite 502 Charleston, SC 29412 843-762-1805 www.tayloragency.com
Weisburger Insurance Brokerage 1096 Black Rush Circle Mount Pleasant, SC 29466 843-971-0036
McKenna Agency Inc. 1032 Savannah Highway Charleston, SC 29407 843-277-8259 www.wesmckenna.com
Pinckney-Carter Co. 1956 Remount Road North Charleston, SC 29406 843-747-9073 www.pinckneycarter.com
Statewide Insurance Group Inc. P.O. Box 80877 Charleston, SC 29416 843-766-2400 www.statewidegroup.com
Theodore & Associates Insurance 204 N. Gum St. Summerville, SC 29484 843-871-3950 www.theodoreinsurance.com
R.A. Wright Agency LLC 661 St. Andrews Blvd., Charleston, SC 29407 843-766-5300 www.rawrightagency.com
The Steadman Agency Inc. 8 Vanderhorst St., Charleston, SC 29403 843-723-4001 www.steadmanagency.com
William Means Co. Insurance 64 Broad St. Charleston, SC 29401 843-577-0585 www.meansinsurance.com
Source: Independent Insurance Agents & Brokers of South Carolina
The Lowcountry’s Leader in Home and Flood Insurance Since 1960
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July 13 - 26, 2020
Invest in your success. The story of the Charleston business market is a story told in numbers. Market Facts includes data and statistics critical to commerce in our region. Topics range from employment to education to logistics, with data presented in readable charts and graphs. Take advantage of this opportunity to get your marketing message to our business community, and in front of the businesses and people planning a move to our area.
PUBLICATION DATE: August 24, 2020 | ADVERTISING DEADLINE: July 17, 2020 For advertising information, contact Grady Johnson at (843) 849-3103 or gjohnson@scbiznews.com
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BUSINESS DIGEST | PEOPLE IN THE NEWS | HOT PROPERTIES | PEER TO PEER
People in the News
Business Digest
SpokeWorks Bicycle Workshop celebrates grand opening in Summerville The Greater Summerville/Dorchester County Chamber of Commerce recently held a ribbon-cutting to celebrate the grand opening of SpokeWorks Bicycle Workshop in Collins Square. SpokeWorks aims to develop a culture of cycling-centered fitness throughout Summerville and the Lowcountry.
Fund grant, Palmetto Goodwill will serve close to 200 additional unemployed individuals in need of career credentialing programs, workforce services and sustainable employment search assistance.
More than 260 meals donated to Ronald McDonald House Charities
Parker’s Kitchen donates 700 masks to Roper St. Francis Healthcare
Parker’s Kitchen recently donated 700 KN95 face masks to frontline health care providers at Roper St. Francis Healthcare. Over six weeks, Parker’s Kitchen and its parent company, Parker’s, have donated more than 7,000 face masks to hospitals and health care providers across South Carolina and Georgia, including PruittHealth in Moncks Corner and Beaufort Memorial Hospital in Beaufort.
Palmetto Goodwill receives $100,000 grant for COVID-19 relief efforts
Palmetto Goodwill has received a $100,000 grant from Truist Financial Corp. to continue offering workforce assistance services through its virtual and walk-in Career Opportunity Centers. The grant is part of the Truist Cares initiative, a $25 million philanthropic initiative support basic needs, medical supplies and financial hardship relief related to COVID-19. With the Truist Charitable
The Rotary Club of Daniel Island and the Daniel Island Community Fund have donated more than 264 meals to families staying at Ronald McDonald House Charities of Charleston. Meals were delivered from restaurants including Dockery’s, Daniel Island Club, Laura Alberts, Dog and Duck, Agaves Cantina, Daniel Island Grill and Ristorante Lidi.
Charleston Trade Center, at 553 Trade Center Parkway in Summerville.
Attorney Monoc opens law office in downtown Charleston
Katie Fowler Monoc has opened Monoc Law LLC at 77 Grove St. in Charleston. Monoc’s practice focuses on personal injury and other civil litigation, as well as providing general counsel for businesses and political campaigns.
AgSouth Farm Credit donates to USDA food initiatives in S.C.
AgSouth Farm Credit plans to contribute $15,000 to U.S. Department of Agriculture divisions in South Carolina and Georgia to support agriculture and farming communities during the pandemic. $7,500 will go toward the partnership between Certified S.C. Grown and S.C. Advocates for Agriculture organizations and their ongoing efforts to support their Farmers to Food Banks initiative.
Cohn Construction completes oral surgery and aesthetics studio
Advanced Packaging moves into larger facility
Advanced Packaging Solutions & Products Inc. has recently opened its corporate headquarters and Charleston-area operations in Summerville. The company previously was located at 3330 Marathon Court in North Charleston but outgrew that facility. The headquarters and all its employees have moved to Suite 101 of the
Cohn Construction Services has completed the construction of Advanced Dentistry of South Carolina at 1014 St. Andrews Blvd. in West Ashley. The 2,400-square-foot facility, located inside the TenFourteen office building, is home to Kotary Yomi Implant Surgery Center & Oral Surgery and Essential Aesthetics. The suite includes three operation rooms, two esthetician rooms, an office, staff lounge and two labs. The reception See BUSINESS DIGEST, Page 29
GOVERNMENT The National Association of Government Communicators has recognized Dorchester County public information officer Tiffany Norton as the Norton National Communicator of the Year. As well as being public information officer, Norton is also the county’s webmaster, manages social media accounts, oversees the tourism marketing program and responds to all media inquiries. She also manages Freedom of Information Act requests and writes all news releases. Norton holds a Bachelor of Arts in political science from the College of Charleston and a certification as a public communicator from Texas Christian University.
STAFFING Bacchus & Books has hired Jennifer McElveen as a wine educator, Carolwayne Tavener as marketing director and LouAnn Lofton as literary director. McElveen will work with those seeking professional wine and spirits qualifications through the Wine & Spirits Education Trust program. She holds the Level 3 program certification. Tavener holds a degree in fashion merchandising and marketing technologies. Lofton has experience as an editor and published author. In 2011, she published Warren Buffett Invests Like a Girl: And Why You Should, Too.
CONSTRUCTION Mashburn Construction has hired Chris Freitag as senior superintendent for the health care division, Reid Coyle as preconstruction manager and Cannon Lynch as assistant superintendent. Freitag will focus on health care contracting in the state’s coastal regions. Coyle will be responsible for estimating the costs of potential work and providing schedules for projects. Lynch will help with daily field operations and assist lead superintendents with logistics, scheduling and the coordination of work. He has a Bachelor of Science in construction management from California Polytechnic State University. See PEOPLE, Page 28
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People in the News PEOPLE, from Page 27
HEALTH CARE Lisa Burbage, founder and CEO of Wellness Five LLC, has been awarded the level of master trainer by the Centers for Disease Control and Prevention’s nationwide Diabetes Prevention Program. Burbage completed the program at the Diabetes Training and Technical Assistance Center at Emory University’s Rollins School of Public Health in Atlanta. She is one of 180 certified master trainers in the nation. With this designation, she can now train others to become lifestyle coaches.
FINANCIAL SERVICES Carolyn Hash, senior vice president of investments for Bridgeside Investment Group, was recently named one of the Top Women Wealth Advisors in the nation by Hash Forbes. Hash has more than 30 years of experience and is a certified financial planner and certified divorce financial analyst. She holds a degree from the University of South Carolina and an MBA from The Citadel. Hash, along with her now-retired partner Roy Seay, brought their practice to Raymond James in 2011.
ARTS AND ENTERTAINMENT The Gibbes Museum of Art has named board member Susan Smythe as the recipient of the annual James Shoolbred Gibbes Philanthropy Award. Smythe Smythe joined the board in 2011, served as board chair in 2018, and has assisted the Gibbes in major initiatives that have aided the prosperity of the museum. Smythe helped negotiate the first memorandum of understanding between the city of Charleston and the nonprofit Carolina Art Association regarding ownership of the Gibbes facility. This led to the museum being awarded $3.9 million by the city for renovations completed in 2016. She also helped the museum secure a $2.6 million historic tax credit as part of that same capital campaign. Smythe, an attorney at Womble Bond Dickinson, has more than four decades of experience. She attended Brown University and the University of Virginia School of Law.
ACCOUNTING The Lanning Group has promoted Stephanie Spinucci to senior tax manag-
er and Lucy Brenner to director of private client services. Spinucci has worked with firm owner Carrie Lanning for almost 14 years. She leads the firm’s training initiative and recruiting efforts. Brenner joined the company in December 2017 and has worked as a tax manager until her recent promotion.
LAW Barnwell Whaley member and registered patent attorney B.C. Killough has been named to two new SCRA business and science advisory boards: Biomedical Killough Sciences and Industry 4.0. He will serve as the chairman of Industry 4.0. Killough has more than 40 years of experience counseling businesses in matters such as intellectual property matters and complex commercial transactions. He has obtained patents for more than 300 devices on behalf of his clients for medical devices, medical diagnostic and surgical methods, physical chemistry products, digital printing technology, telecommunications and electromechanical and mechanical devices. Killough earned a Bachelor of Industrial Engineering from Georgia Tech, an MBA from the University of South Carolina and a juris doctor from the University of South Carolina School of Law. Perry MacLennan of Haynsworth Sinkler Boyd was selected as a 2020 American Bar Association On the Rise Top 40 Young Lawyer. Perry teaches business law at the College of Charleston. He serves on the board of Helping and Lending Outreach Support and as administrative director of the American Bar Association’s Young Lawyers Division. He is also president of the Clemson Young Alumni Council. MacLennan is also the incoming president of the S.C. Bar Young Lawyers Division. He helps companies establish or expand operations in South Carolina and comply with laws applicable to doing business. He focuses on employment law, economic development incentives, contracts and general corporate matters.
BUSINESS SERVICES The Charleston RiverDogs and Boeing have inducted Marine Maj. Gen. James Livingston and Coast Guard Senior Chief Petty Officer Terrell Horne III as the inaugural members Livingston of the Hall of Honor. Livingston was commissioned a second
lieutenant in the U.S. Marine Corps in June 1962, following graduation from Auburn University. He retired in September 1995. In May 1968, while serving as the commanding officer of Company E, 2nd Battalion, 4th Marines, he earned the Medal of Honor when he distinguished himself above the call of duty in action against enemy forces. He earned a master’s degree in management from Webster University. Horne was killed in the line of duty while intercepting smugglers in December 2012. Horne had 14 years of service and was second in command of the Marine Protector-class cutter Halibut on the night he was killed in action. Horne is credited with pushing the coxswain out of the path of danger at the cost of his own life. In 2019, the Coast Guard commissioned a new Sentinel class cutter named in Horne’s honor, the Coast Guard Cutter Terrell Horne.
ARCHITECTURE LS3P has hired John Koelsch and Evan McElrath as Emerging Professionals in its Charleston office. Koelsch’s past experience includes assisting firms with Koelsch research and design development for a variety of architectural projects. He served as a teaching assistant leading workshops and critiquing student details regarding advanced building systems, as well as McElrath working in a building envelope consulting firm. Koelsch earned a Bachelor of Architecture from the University of Tennessee. McElrath, a recent Mississippi State University graduate with a Bachelor of Architecture and a minor in business administration, has experience with schematic design and construction documents for K-12 facilities, health care buildings and church facility projects in Mississippi.
CONSTRUCTION Keaton Green, vice president of Frampton Construction Co. LLC, was named runner-up in the Leukemia & Lymphoma Society’s 2020 Lowcountry Man and Green Woman of the Year competition. During the 15-week campaign, Green and his team raised $237,274. He was honored for his fundraising efforts during the virtual grand finale gala.
NONPROFIT Five Liberty Fellows have received a total of $35,000 from the McNulty Foundation’s Global Response Fund to support COVID-19 response efforts serving vulnerable communities. Among them is Matthew Alexander, founder and CEO of OneWorld Health, who is converting space for an isolation ward at OneWorld’s hospital in Masindi, Uganda. Vince Lindenmeyer is the new managing partner and director of engagement for The Lowcountry Group. Lindenmeyer is retired from the Army and served as a strategic adviser, planner and designer in the infantry, logistics and strategist career fields over his 26-year career. He conducted domestic and global operations in the United States and abroad, including Iraq, Qatar, Egypt and South Korea. Lindenmeyer earned a Bachelor of Science in systems engineering from West Point Military Academy, a Master of Science in logistics management, a Master of Arts in strategic studies from the Army War College and a doctorate degree in education.
EDUCATION Mark Anastos will begin working for the Naval Surface Warfare Center, Corona Division, after graduating from the Department of Defense’s Science, Anastos Mathematics and Research for Transformation Scholarship program. Anastos graduated from Cornell University with a Bachelor of Science in electrical and computer engineering and a Bachelor of Science in computer science. He will begin his federal career as a communication engineer in the range systems engineering department.
DEFENSE Orbis Inc. has named Shauna Burrows COO, overseeing all Department of Defense and commercial customer services, marketing and corporate develBurrows opment strategy and operations, as well as the engineering, technical, trade and consulting services divisions. Burrows started with Orbis in April 2005. She has more than 17 years of experience in defense. Burrows is a graduate of the University of Alabama with a bachelor’s degree in communication and informational services.
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Business Digest BUSINESS DIGEST, from Page 27
area includes two unique interior designs to distinguish the aesthetics side of the office from the oral surgery center. Cohn partnered with Kappler Design and GMK Engineering to design this project.
Atlanta-based general contractor Freese Johnson opens in Charleston
Freese Johnson LLC, an Atlanta-based design-build and general contracting company, has opened an office in Mount Pleasant. The company has worked throughout South Carolina for more than 15 years, most recently completing Portside Ferry Wharf for Holder Properties. Other notable projects include 25 Calhoun St. and Faber Center in Charleston.
tian Leadership’s Christian Leadership Institute, individual classes related to leadership, the honors program, the Master of Arts in organizational leadership and the Doctor of Education in leadership.
Trident Tech offers free tuition for fall semester
Trident Technical College will use a combination of federal, state and college financial aid funds to offer classes in certain in-demand career training programs for free in the fall. The college offered free tuition in fall 2019, then extended through the 2020 spring and summer semesters. Free tuition will be offered for the entire 2020-2021 academic year. Eligibility is restricted to the 70 programs of study in manufacturing, IT, culinary, hospitality, emergency medical technology and technical trades. Students are responsible for the cost of books and digital course materials.
Roper St. Francis receives $1.2M grant for Hospital at Home innovation Roper St. Francis Healthcare has been awarded a $1.2 million grant from The Duke Endowment to fund a Hospital at Home project that uses home health, virtual health and remote patient monitoring to provide hospital-level care in patients’ homes. Using home health services and a specially trained mobile acute care team, Hospital at Home will provide short-term, hospital-like care in patients’ homes, with a goal of reducing readmissions and costs while increasing patient satisfaction and outcomes. Much of the grant funding will go to staffing and creating a multidisciplinary team to establish eligibility criteria, as well as treatment protocols. The program is expected to launch this month and to serve more than 500 patients during the next three years.
New leadership program at CSU begins in the fall
Beginning this fall, students can enroll in a 15-hour interdisciplinary minor in leadership at Charleston Southern University. The minor, offered jointly by the colleges of business and Christian studies, contains classes from the two and aims to provide a foundation for student leaders. In addition to the minor in leadership, CSU offers a Bachelor of Business Administration in global marketplace engagement to provide students with a background in business complemented with studies in evangelism for business as mission. Other leadership programs include the Whitfield Center for Chris-
will go to cooperative members who had service in 2019. This early payout is the second infusion of financial assistance the cooperative has provided during the pandemic. In March, Berkeley Electric refunded more than $4.8 million in security deposits to its residential members. The amount of a refund is based on the amount of electricity used during designated patronage years.
College of Charleston to go SAT, ACT test-optional for fall 2021 admissions
Students applying to the College of Charleston for fall 2021 can choose to have their application evaluated without SAT or ACT scores. College of Charleston President Andrew T. Hsu said the postponement of testing sessions because of the coronavirus pandemic has led the school to review its admission process. School representatives said admission decisions lean more on grades and coursework than on test scores. Some applicants will still have to submit test scores, including those who are homeschooled. The state of South Carolina requires an official SAT or ACT test score to award state scholarships (Life, Hope, Palmetto Fellows), but students can apply without the test scores and submit scores after they have been admitted. Students who choose not to submit test scores will be considered for College of Charleston merit-based scholarships.
of Charleston’s Riley Center for Livable Communities and the city of Charleston, the food bank has created an online, interactive Charleston Free Food Finder Map. The map helps people find free food in Charleston County. Designed to work either from a mobile device or computer, the website includes three types of food distribution sites in Charleston County: partner agency sites, Charleston County School District sites and additional food resource sites.
Red Cross offers virtual care for families who have lost loved ones
The American Red Cross of South Carolina is launching a Virtual Family Assistance Center to support families struggling with loss and grief related to the coronavirus pandemic. Many families have experienced a disrupted bereavement and grief process because of restrictions related to COVID-19. The Red Cross has set up a virtual team of specially trained mental health, spiritual care and health services volunteers who can connect with families over the phone to offer support and resources.
Frampton Construction working on Mount Pleasant redevelopment
Demolition and construction is underway at the site of The Shelmore, a Class A mixed-use property at 774 S. Shelmore Blvd. in Mount Pleasant. The adaptive reuse project involves the redevelopment of a former Bi-Lo grocery store into nearly 50,000 square feet of office space. The new space will include a lobby with a two-story “jewel box” entry, 18-foot ceilings, and the potential for a variety of floor plans suitable for small and large office users. The existing retail surrounding the building will also receive exterior upgrades to match the new facade. Complete demolition of the interior is underway to make room for office space, and more than 30 windows and 10 skylights will be added to the building’s exterior to provide natural lighting.
Berkeley Electric to return $5 million in capital credits as pandemic relief
Berkeley Electric Cooperative’s board of trustees unanimously approved the return of $5 million in capital credits, either in bill credit or cash refunds, to its members. The cooperative normally distributes capital credits at the end of the calendar year. The board is returning the funds now to help members who are experiencing a financial hardship because of the pandemic. A majority of the credits
Summerville Medical completes third-floor Phase 1 renovation
Roper St. Francis Physician Partners Primary Care is opening a new practice in the Live Oak Square Shopping Center on Johns Island. The physician, Dr. Sheela Bhattacharyya, is board-certified in family medicine. The practice will offer walk-in care from 8 a.m. to 8 p.m. Monday through Saturday, making it the first primary care practice on Johns Island to offer extended hours.
Phase 1 of Summerville Medical Center’s 45-bed third-floor medical and surgical unit renovation is complete and open for patients. This project is part of a larger, $4.4 million inpatient unit renovation that began in 2019. The project renovates the hospital’s patient rooms, lobby and nurses’ stations in the second-floor medical and surgical unit, third-floor medical and surgical unit and intensive care unit. The second-floor renovation was completed in 2019. The inpatient renovation is part of a $100 million investment. The entire project is expected to be completed by the end of 2020.
Food bank offering summer meals, interactive map to find free food
Berkeley Chamber launches media campaign for Berkeley hospitality
Roper Physician Partners offering primary care on Johns Island
The Lowcountry Food Bank is providing meals to children under age 18 through Aug. 14 through its Summer Food Service Program. Sites are chosen based on their accessibility and capacity to serve the children who need meals the most. Additionally, in partnership with the College
The Berkeley Chamber of Commerce has launched a new tourism marketing campaign, “We Are Open,” to assist the lodging industry. The campaign includes a new tourism website and a series of marketing materials promoting lodging opportunities.
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The economy is on a roll — for now O
nce the March and April data began to unfold, it was clear that the economy had fallen into a deep recession. No one likely would have thought that the recession would be over by May and the economy would be rebounding vigorously. But that is exactly what is happening. The data for May and June are undeniable. At the end of this month, we will STEPHEN D. see a GDP decline of SLIFER roughly 50%. But we will also see — eventually — a rebound in third-quarter growth of roughly comparable magnitude. Some fear that the expansion will be short-circuited by the rapid spread of the coronavirus. Undoubtedly, some bars and restaurants will be forced to close and some will go out of business. That could reduce GDP growth in the fourth quarter, which we currently estimate at 7.0%. As soon as the government announced its $2.5 trillion in fiscal stimulus, it became clear that the recession would last no more than three or four months, or about half the length of an average recession. Instead, it lasted two months. We now know that the expansion ended in February and the recession began in March. But every economic indicator for May rebounded vigorously. A renewed expansion began. Following a decline of 1.4 million in March payroll, employment plunged by 20.8 million in April. But it rebounded by 2.7 million in May and 4.8 million in June. After stunning declines of 8.2% and 14.7% in March and April, retail sales surged by a record-breaking 17.7% in May and are poised to rise again in June. New-home sales were dented during the recession, as sales slipped from about 750,000 in January and February to 580,000 by April. But sales recovered about half of what they lost in May, hitting a 675,000 pace. A huge increase in consumer income (caused by the $1,200 stimulus checks), a shortage of available housing, and record low 3.0% mortgage rates have triggered an impressive snap-back in sales. Even the beleaguered manufacturing sector is on the mend. Led by recordsetting increases in forward-looking orders and production, the purchasing managers index climbed from a significant contraction in May (43.1) to expansion mode in June (52.6).
That is largest single-month increase since August 1980 and the highest reading for this index since May of last year. The Bureau of Labor Statistics publishes an index of aggregate hours worked as part of the employment report. It is a gauge of the supply side of the economy. The annualized rate of decline between the first and second quarters is 50.0%, which happens to be our estimated rate of GDP contraction in the second quarter. The demand-side data — consumer spending, housing, investment spending, etc., confirm a decline of roughly that magnitude. We have estimated employment and hours worked for July, August and September, and the third-quarter average appears to be at least 35% higher than the secondquarter average. The record-breaking rebound in May was triggered by $2.5 trillion of fiscal stimulus. The U.S. economy has never experienced such dramatic swings in economic activity in a matter of months. As the economy reopens, the indomitable spirit of American citizens has reasserted itself. Growth will continue to climb and those currently without jobs will be steadily rehired. GDP may reach its pre-recession high by early next year. The unemployment rate — currently at 11.1% — is unlikely to shrink to its pre-recession low of 3.5% until 2022. There is no doubt that the number of new coronavirus cases has accelerated in the past couple of weeks. As a result, some states have paused the pace of reopening and six states have partially reversed reopening. But the situation today is completely unlike what it was in mid-April when the virus was at its peak. As of press time, nearly 40,000 people are hospitalized (1,260 of them in South Carolina), according to The COVID Tracking Project. In mid-April that figure was 59,000. The number of daily deaths has shrunk from an average of around 2,000 to about 500. By almost any metric the situation has improved considerably. There is no case for the imposition of a nationwide stay-athome order. Even if warranted, President Donald Trump will not do it. To initiate another economic collapse months before the election is not going to happen. The recession is over. The economy is rebounding and will continue to grow. CRBJ
Reach economist Stephen D. Slifer at steve@numbernomics.com.
Viewpoint
VIEWS, PERSPECTIVES AND READERS’ LETTERS
Businesses must follow protocols to keep customers safe
E
ach day, we all watch as coronavirus cases reach record highs. Our alarming growth rates are generating increasing concern for our health and our economy. The tri-county region is currently experiencing a startling 8.8% increase in daily cases. According to the Medical University of South CaroliWILLIS na, we could have CANTEY over 45,000 active cases by August and our medical system could reach maximum capacity in the fall. We are quickly exhausting our grace period. Our region is rapidly approaching crisis mode. BRYAN This means all DERREBERRY patients, whether seeking medical help for the coronavirus or another reason, will be challenged in receiving the level of care they need. It is time to listen to our medical professionals and start taking the necessary precautions.
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We, as a community, can change this course by acting now. We can choose to take responsibility and accountability to mitigate the rate of transmission. The future well-being of our community depends on it. The Charleston Metro Chamber urges every citizen and every business to diligently follow the four safety protocols laid out by our health professionals: always wearing a mask when in public, maintaining a 6-foot social distance, following handwashing best practices and protecting our vulnerable populations.
While practicing these protocols creates a slight inconvenience in our lives, it more importantly demonstrates our personal commitment to keep our community safe and healthy. It is a small price to pay to help protect our family, friends and neighbors from becoming critically ill. It is a simple action to help our students return to school in the fall and get us back to doing all the things we love quicker. We still need to keep our guard up. Our region is not in the clear. Taking these four simple precautions will help ensure our region can safely remain open
and our economy has the opportunity for a healthy recovery. One Region Ready has released a safetybased set of reopening guidelines, in line with accelerateSC and the S.C. Department of Health and Environmental Control. We ask each business to visit oneregionready.com and commit to following these safety protocols. By signing and practicing the One Region Ready Pledge, you are demonstrating to your customers, clients and employees that you care about them and are part of the recovery solution. Labels and words won’t take us down the path to beating the coronavirus: We need action. Let’s join together by personally acknowledging that our nation is facing an unprecedented pandemic. Let’s write another rich chapter in our region’s history by playing a role in bringing this pandemic to an end: washing our hands frequently, wearing a mask, practicing social distancing and respecting the health of every person. Now is our time for action. Willis Cantey Chairman of the Board Charleston Metro Chamber Bryan Derreberry President and CEO Charleston Metro Chamber
COVID-positive employees: How to communicate with stakeholders
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f you are a business serving the public you know this all too well: There is no playbook for navigating COVID19. You are making decisions daily, with new information and changing circumstances. This is especially true for restaurants. In two months we’ve helped cliHEATHER ents navigate myrHOOPESMATTHEWS iad COVID-related circumstances. Let’s begin with the “newsmaker.” You’ve had an employee test positive for COVID-19. In the South, infection rates are skyrocketing. It’s likely a just matter of time before most businesses face this situation. The crucial first step is protecting the
privacy of the infected employee. This is a legal requirement. But you also must notify any other colleagues who have had close contact with that individual (think in terms of 10-12 minutes of close contact). Business leaders need to notify colleagues without revealing the identity of the infected employee. Your employee reveals his/her positive test result on social media. True situation. There is nothing you can do about it. Don’t stifle an employee’s right to share his/her personal information. But DO have a plan in place for how to communicate about COVID with your employees, guests, clients and, if needed, the media. We’ve helped clients put in place a “COVID Response Team.” Similar to a crisis response team, this nucleus of company decision-makers and subject matter experts, such as a lawyer or crisis com-
munication professional, will huddle up, assess the facts, make decisions and monitor the situation. Messaging must be honest and transparent. We can’t hide from COVID. We must face it head-on. Your No. 1 priority should be the health and safety of your employees and guests. Consider ahead of time what health and safety measures, such as deep cleaning, masks, etc., you have in place. That top health priority, and those safety measures are message points to share publicly. DO NOT reveal any information which may identify your infected employee, including describing a job duty. Be flexible, put safety first and press on. It’s possible some of you reading this article will have to temporarily close your businesses in the future to deep clean after a series of positive employee tests. Be proactive. Weigh the short-term
loss of revenue from a temporary closure against the long-term reputational harm from appearing reckless. Again, there is no playbook, you are assessing each situation, making decisions and monitoring for future modifications. About the only thing we do know is there is no telling how long this COVID storm will last. So plan now for how the virus may continue to impact your business. Be safe, stay healthy, and offer grace and patience to those navigating alongside you.
We want to hear from you Write: Andy Owens, Executive Editor Charleston Regional Business Journal 1802 Dayton St., Suite 101, North Charleston, SC 29405. Email: aowens@scbiznews.com
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July 13 - 26, 2020
REGISTER ONLINE TODAY!
MAYORS FORUM: REGIONAL RESPONSE AND RECOVERY Don’t miss the opportunity to be part of the conversation in a thought-provoking panel discussion with the region’s mayors during a livestream event on YouTube. The panel will discuss the impacts of the onetwo punch of civil unrest and the coronavirus pandemic on their municipalities. Plus, we’ll get updates on transportation, development, affordable housing, education and our talent pipeline.
PANELISTS: Mayor Keith Summey, North Charleston Mayor John Tecklenburg, Charleston Mayor Will Haynie, Mount Pleasant Mayor Greg Habib, Goose Creek
Register online today: bit.ly/crbjpes2020mayorsforum Proceeds from registration purchases will be donated to the Lowcountry Food Bank in support of its mission to lead the fight against hunger throughout the coastal counties of South Carolina.
12:00 p.m. Presented by:
Thursday, July 16
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