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Atlas Commerce Center Breaks Ground in Charleston

Warren Zinn — Mon, 28 Sep 2015 19:26:08 +0000

A Miami-based real estate developer has started clearing land on a 12-acre tract in Palmetto Commerce Park in North Charleston for its new Atlas Commerce Center.

The first of two 67,500- square-foot speculative warehouses is set for completion by March, said Warren Zinn, president of Atlas Capital Group. Depending on leases, the second building will follow with completion set for no later than November 2016.

“Charleston is an attractive market,” Zinn said, referring to Boeing’s growth and automakers Daimler and Volvo Cars each planning to build $500 million auto-manufacturing plants in the Lowcountry.

The buildings are being designed to be subdivided into as many as nine 7,500-square-foot units each because Zinn believes the demand in Charleston doesn’t always require cavernous warehouses.

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Vacancy rates decline, rents inch up in Charleston industrial real estate market

Warren Zinn — Sat, 27 Jun 2015 14:58:12 +0000

As more major manufacturers announce projects in the region, vacancy rates continue to decline in Charleston’s industrial market, according to several second-quarter market reports. The dwindling inventory is causing rental rates to inch upward. In March, Mercedes-Benz Vans announced an expansion of its Lowcountry footprint with a $500 million investment in a new van plant in Palmetto Commerce Parkway in North Charleston. Roughly 1,300 employees will be hired to manufacture the vans from start to finish, rather than the current assembly-only operation.

Volvo Cars announced plans in May to build an automotive campus on a site in Berkeley County. Construction will begin on the $500 million plant this year. Roughly 2,000 employees will be producing cars by 2018, according to Volvo officials. The dearth of inventory means new development is required, as large manufacturers and their suppliers are in need of industrial spaces.

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Harbor deepening review could be moving into final stage

Warren Zinn — Mon, 08 Jun 2015 00:58:38 +0000

One of the last hurdles to deepening Charleston Harbor could be cleared beginning this month when an Army Corps of Engineers board makes its final review of the project’s feasibility study.

The agency’s Civil Works Review Board has set June 25 as the date to begin its review of the “Post-45 Deepening Project,” which would prepare the Port of Charleston for supersized cargo vessels passing through a newly expanded Panama Canal.

Following the review, the board will issue a Chief of Engineers report, which is needed to begin construction. The chief’s report, which is expected by September, is what will be used to lobby Congress for money to pay for the deepening project.

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Charleston’s commercial real estate market ‘on fire’

Warren Zinn — Mon, 25 May 2015 19:09:13 +0000

In a recent article Warren Wise of the Charleston Post and Courier notes that the Industrial Real Estate market is booming and their is a strong demand for new industrial space. “The market is on fire, and there is no inventory,” said Alan Bolduc, who specializes in warehouses and types of industrial real estate at the local office of Avison Young. “It’s a very, very challenging market right now. We are becoming extremely busy with inquiries from 5,000 square feet to 150,000 square feet. The inventory is almost nonexistent. Some of the bigger boxes are coming out of the ground, so we are going to satisfy some of that demand.”

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