Running a business can be a daunting feat. New problems will catch you off-guard and sometimes all you can really do is take the bull by the horns, and hope that everything will return to normal. Even a short business interruption can mean losing thousands of dollars! A business owner keeps an eye on the…
Eight Reasons Why You Need to Have Annual Plumbing Checks
Five Electrical Safety Tips for Commercial Buildings
To some, a workplace may feel like a second home. It’s a place where employees form bonds and battle hardships together. Whether you’re a company CEO, a higher-up, or the owner of a commercial building, keeping your establishment a safe place for everyone will increase their productivity and give you peace of mind as well….
Office Leasing Activity Expected to Grow Amid Sustained U.S. Economic Strength
The U.S. office market continues to expand ahead of forecast, posting 18 million square feet of net absorption in the fourth quarter of 2018 and 11 million square feet in the first quarter of 2019, says the NAIOP Office Space Demand Forecast. Continued economic growth and increases in job creation are likely the main forces…
Magnus Development Partners Breaks Ground on Midway Logistics IV, a Speculative Building in Lexington County
Magnus Development Partners recently broke ground on the fourth speculative development in the Lexington County Industrial Park in West Columbia, South Carolina. Midway Logistics IV is the only speculative industrial building offering up to 200,000 square feet of available space in central South Carolina and is expected to quickly become fully leased. Colliers International |…
Elevator Safety Issues with Advice for Building Owners
The Elevator Consultants (TEC,) a leading global elevator consulting firm, has issued a call to building owners in the wake of dozens of elevator and escalator-related incidents in recent years, to take a hard look at the maintenance of their equipment and take action to mitigate their own risk. Elevators and other vertical transportation equipment are…
Elizabeth City to Receive Funds for Downtown Revitalization
The City of Elizabeth City will receive $200,000 to support a downtown revitalization project from the Main Street Solutions Fund, the North Carolina Department of Commerce announced today. Elizabeth City’s award will help preserve a historic building and create a new event space for the community. Restoring and filling vacant and blighted buildings is a…
Commercial Real Estate Development and Operations Supports 8.3 Million Jobs, Contributes $1 Trillion to the Economy
New development and ongoing operations of existing commercial real estate buildings in the United States – office, industrial, warehouse and retail – generates significant economic growth at the state and national levels. The combined impact of these property types supported 8.3 million American jobs and contributed $1 trillion to U.S. GDP in 2018. The study…
BOMA and BOMI to Launch New Property Management Certification and Education Partnership
The Building Owners and Managers Association (BOMA) International and BOMI International, the Independent Institute for Property and Facility Management Education, announced plans to create a new “early-career” certification for commercial property managers and to partner together to produce and market online education for the commercial real estate industry. The announcement was made at BOMA International’s…
Strong Demand Will Absorb New Construction
Key Takeaways Due to high demand, absorption will continue to be positive; however, due to new construction growth, the vacancy rate is expected to rise in the next few quarters. Charleston overall market rental rates are higher relative to the last quarter and are expected to rise as new office construction is completed. As the…
Resurgence in Office Leasing: Breakout Economic Growth Forecasts Higher Rates of Net Absorption
The U.S. office market posted solid net absorption levels in the second and third quarters of 2018 of 18.0 million and 11.0 million square feet, respectively. This level of new leasing is likely due to higher-than-expected economic growth and the subsequent demand brought about by jobs created in the office-using sectors. This increase in demand…
