Oct. 31, 2014 UBJ

OCTOBER 31, 2014

COMPLIMENTARY

GREENVILLE’S WISH LIST

UBJ EXAMINES RETAIL TRENDS AND THE BRANDS WE MIGHT ATTRACT IN THE FUTURE

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UBJ EDUCATION Clemson takes manufacturing training to virtual reality JOE TOPPE | STAFF

jtoppe@communityjournals.com A shortage of skilled workers entering positions in contemporary manufacturing has local educators expanding their curricula to generate interest in the field.

Researchers at the Clemson University Center for Workforce Development (CUCWD) have created virtual reality simulations designed to provide real-world scenarios happening on the manufacturing floor for both K-12 and college students.

“We have to build a pipeline of workforce development and entice some of the younger students,” said Kris Frady, director of operations at CUCWD. By incorporating virtual reality into the curriculum, “we can appeal to the ‘gaming’ generation,” she said.

The virtual reality-based simulations are developed using game creation systems such as Unity3D and EON Reality, said Kapil Madathil, director of technology operations at CUCWD. One of the system’s key features is the ease of building games focusing on the core application and functionality development, he said. The simulations are Web-compatible and enable students with Internet to access to use the program.

Frady said incorporating virtual reality simulations into education has many unique benefits.

The inclusion of real-world possibilities gives authenticity to a curriculum because students can immerse themselves in the manufacturing environment, she said. In a virtual world, students are free to experiment in safety under one roof.

Virtual reality environments created for the course include a simulated assembly line and a factory setting complete with drilling machines, lathes and forklifts, Madathil said.

Students will assume the role of an auditor, and identify and tag hazards as workers commit safety violations

within each environment, he said. The safety scenarios are randomly generated at the start of the simulation and the user’s goal is to tag as many violations as possible within the allotted time.

Pickens County Career and Technology Center, Seneca Middle School, and several Pee Dee area high schools are using the virtual reality program, as well as more than 25 percent of the state’s technical colleges.

Frady said including virtual reality programs into technical colleges would expand the capacity of their labs by decreasing the lab time for each student. This in turn would increase the number of students using the lab, she said.

Because the CUCWD is a National Science Foundation Center, the virtual reality program is being used across the country, Frady said. “We have several sister centers who are disseminating the program to technical colleges in their area.”

As the industry expands and includes additional, complex technology, manufacturing jobs of the future will require a larger set of skills, she said.

The field will begin to open up and technical training will become more important as new devices on the market are built smarter. Given the established educational system in South Carolina, “we could see additional reshoring of manufacturing jobs because of the knowledgeable workforce we are putting in place,” she said.

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INSIDE THE VR WORLD Introduction: Basic information about the instrument and how to interact with the simulation.

Guided practice: Steers user through step-by-step process.

Exercise: Asks user to take a measurement of a real-world object and convert the measurement between different units.

Final assessment: Randomly scaled measurement tasks that may be graded.

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Volume 3, Issue 44

October 31, 2014

Top-of-mind and in the mix this week

WORTH REPEATING “A new trend that is having an impact on the market is the reduction of footprints among users, as well as the blurring of lines between online and brick-and-mortar stores.”

Tommy Molin, Senior Associate, CBRE, on retail trends on the horizon

“It had that immediate click of the right technology and the right fit and was easy to understand.”

Becky DeLegge, SCBIO chair and a judge on the panel that gave $2,500 to doctoral student Kayla Gainey to develop GlucoSense strips, which can be produced with ink-jet printer components

“We are proud of our heritage and believe we have a solid foundation to grow our business in both core and emerging markets.”

Jody Gallagher, president and CEO of ALF of Spartanburg, on the company’s 30th anniversary

TBA Word is the Kmart store on Highway 123 in the Easley Village Shopping Center will close in early 2015 and be torn down to make way for a Costco…

A new Petsmart is coming to Simpsonville in the Kohl’s Shopping Center at the corner of Fairview and Grandview…

Word is Highland Homes is planning eight new 2,900 square foot, four-bedroom homes in a development off Augusta Road to be called “Judge’s Alley” …

VERBATIM

On the Nov. 4 roads referendum: Photo by Greg Beckner

MONEY SHOT: Fiber optic cable is manufactured in various colors at the AFL Duncan manufacturing facility. Read more about AFL’s 30 years on page 22.

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UPSTATE BUSINESS JOURNAL

October 31, 2014

“Greenville County has a history and reputation of good leadership, and that’s only because we have a history of good leaders. We have been a state leader in economic development, and now we have the opportunity to be leaders in infrastructure.”

Lisa Stevens, chair, Greenville County Citizens Roads Advisory Commission, at a Greenville press conference to refute false statements circulating about the $680 million project list she helped compile.

UBJ TRANSPORTATION SCTAC researches charging on the go Wireless coils underneath the road could repower electric vehicles JOE TOPPE | STAFF

jtoppe@communityjournals.com A possible solution to the automotive industry’s reliance on fossil fuels is under investigation at the S.C. Technology and Aviation Center (SCTAC) in Greenville.

A series of wireless charging coils are being placed along a corridor connected to the closed runway as a means of charging electric cars on the move, said Jody Bryson, president and CEO of SCTAC. Electric cars are limited by their need to access charging stations, Bryson said. If that access were provided via wireless coils installed in American roads, the mass production of electric vehicles would become

more feasible for carmakers.

Because wireless charging coils is a long-term dream at this point, hybrid technology is just as important as full-electric vehicles, Bryson said.

“The hybrid bridges the gap between the gasoline vehicle and the electric vehicle.”

Dr. Joachim Taiber, principal in-

vestigator and project leader for the U.S. Department of Energy, said wireless charging technology would likely arrive in urban areas first. Once a significant number of electrified vehicles hit the road, “it would make sense to consider the technology’s application along highways to support longer-range zero-emission Vehicle to WPT base unit communicates (radio) in regulation outer loop Lightest, most compact secondary coil, rectifier, filter and CAN/BMS interfact to radio Active to public zone field meets international standards (ICNIRP) at 4 measurement points Smart grid compliant utility feed and modern power electronics

transportation.”

Using a $12 million grant from the Department of Energy, Taiber said he would address the full spectrum of electrified vehicles from hybrids and plug-ins to full electric vehicles.

Both conductive and inductive charging infrastructures will be used at the SCTAC test facility, he said.

The testing area will soon expand to include an on-site urban testing facility and a portion of I-185 for highway testing.

Taiber said communication technology would be key to controlling the energy flow efficiently. In addition to repowering vehicles, the wireless network at SCTAC can also be used for crash avoidance and cloud-based services, he said.

CLEMSON MASTER OF REAL ESTATE DEVELOPMENT PROGRAM PROSPECTIVE STUDENT INFORMATION SESSION Please join faculty and students for an overview of the program and tour of the facilities in ONE. FRIDAY, NOVEMBER 14, 2014 | DROP-IN FROM 1:00 – 4:00 P.M. ONE Building, 5th Floor (Room 504) | 1 North Main Street, Greenville, SC 29601 Light Refreshments RSVP by Wednesday, November 12 | Amy Matthews at MATTHE3@clemson.edu The Clemson University Master of Real Estate Development Program is one of nine graduate real estate programs in the country offering a joint degree between an architectural and a business college.

The interdisciplinary program is designed for students coming from a wide range of business and design disciplines and many other professional backgrounds.

clemson.edu/mred

October 31, 2014

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UBJ ACCOUNTING Elliott Davis to merge with Chattanooga firm JENNIFER OLADIPO | SENIOR BUSINEESS WRITER

joladipo@communityjournals.com Elliott Davis will become Elliott Davis Decosimo after the Greenville-based accounting firm merges with Chattanooga, Tenn.based Decosimo on Jan. 1, 2015.

Elliott Davis announced this week that the merger will create the Southeast’s fifth largest accounting firm with annual revenues of $108 million and more than 800 employees in seven states. Terms were not disclosed.

Elliott Davis currently generates $70 million net revenue and has 500 employees. Decosimo adds offices in Alabama, Georgia, Ohio and the Cayman Islands to Elliott Davis’

current footprint in the Carolinas, Georgia and Virginia. The combined firm will maintain all current locations. No other staffing changes are planned as part of the merger, but recruiting will increase and industry specialists will be added to various locations in the future.

Rick Davis, Managing Shareholder of Elliott Davis, Rick Davis Nick Decosimo will lead the combined firm.

Decosimo Managing Principal Nick Decosimo will serve Raleigh and Richmond, we’ve seen on the Executive Committee, which double digit growth over the last few will be comprised of representatives years and we expect to pursue those from both firms. same growth goals in the markets “We have made strategic Decosimo brings to this investments to aggressively grow in combination,” Davis said in a our newer markets. In Charlotte, statement. “This combination

positions us to serve our clients with an even broader range of expertise across a wider geographic footprint. We are excited about the growth opportunities this will bring to not only our clients, but also to our people.”

Elliott Davis has had a long-term relationship with key members of Decosimo and approached them as part of the growth strategy, a spokesperson for Elliott Davis said. Shareholders of both firms approved the merger in a unanimous vote.

“Our firms share common >>

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UPSTATE BUSINESS JOURNAL

October 31, 2014

UBJ ACCOUNTING >>

cultures and a commitment to providing superior service and expertise to our clients,” Decosimo said. “We look forward to building upon our individual successes to create a firm with a more powerful regional focus and an even broader array of capabilities and expertise to better serve our clients.”

Elliott Davis said the firm has experienced 24 percent revenue growth and 40 percent growth in employees in the past three years,

and that Decosimo has experienced 8 percent revenue growth so far this year.

In addition to expanding niche specialty areas for both firms, the arrangement also provides clients with additional depth of experience in core services such as audit, tax, international, litigation support, estate planning, business valuation and transaction advisory, Elliot Davis said.

THE INBOX Stay in the know with UBJ’s free weekly email.

Tailored

by the Purveyors of Classic American Style

A Formal Affair We are quickly approaching the formal, social season. Stamped and in the mail go the many invitations to grand events that announce “White Tie” or “Black Tie” or “Black Tie Optional.”

References to acceptable attire may be a bit intimidating, but provide clarity to the situation.

And remember, formal dress elevates any occasion and increases the special nature of the event.

Here’s an abbreviated guide to help you navigate through your sartorial decisions this party season.

At the dressiest end of the formal spectrum, “White Tie” denotes full dress tails with Robert Talbott Black Watch Tartan Dinner Jacket matching trousers and all the accoutrements: white wing collar pique shirt, matching pique vest and bowtie, mother-of-pearl stud set, finely polished leather oxfords and white gloves that are not to be removed unless exposing the right hand to receiving line guests.

For occasions that suggest “Black Tie,” a black tuxedo is in order. If the event has a serious, elegant theme, such as an evening wedding (after 6:00 p.m.) or formal business dinner, it is necessary to wear a black bowtie and cummerbund in a fabric that matches the lapel of the tuxedo. The idea is to honor your host or hostess with the most elegant correct attire. (A white dinner jacket may be substituted for the black tux jacket during warm weather occasions or at tropical resorts).

If the affair has a party theme to it, you have the opportunity to be more adventurous and creative! Choose a colorful bowtie/cummerbund or waistcoat.

How about a dinner jacket in a bold color or plaid that departs from the classic tuxedo? During the holiday season, an elegant and memorable Black Watch Tartan dinner jacket would be the touch that tops them all!

Finally, if your invitation calls for “Black Tie Optional,” wear your tuxedo.

However, you can wear a dark business suit, white shirt and an elegant tie.

When in doubt, just remember, the proper thing to do is the most traditional and elegant. When confronted with “clever” dress codes such as “Creative Black Tie,” take the advice of A Gentleman Gets Dressed, by Bridges and Curtis, “A gentleman has every right to dress as traditionally as he chooses.”

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Hello, BEAUTYful.

UBJ AUTOMOTIVE

by Cindy Jackson and Angela Mathews Back to 30 Rejuvenation Centers

Painless Laser Hair Removal:

Is This for Real?

Waxing, shaving, and tweezing: the triumvirate of ways to remove unwanted hair. In addition to having to repeat these procedures on a frequent basis, we also find that they aren’t always the most comfortable, either.

We were skeptical about how laser hair removal could actually be painless. Then, we tried it. Now we’re believers, and wanted to let you in on our little secret: it really works.

Laser hair removal is a safe and long lasting solution for unwanted hair.

Using vacuum-assisted, specialized technology, the treatment requires no application of local anesthesia, and achieves the desired outcomes in a smooth, efficient, and targeted manner.

Michelin and John Deere strike deal on Tweel Tractor manufacturer’s commercial mowers will roll on airless radial tires

Laser treatments can be almost entirely free of pain for most patients.

Our clinics are equipped with state of the art laser technologies to provide this treatment in a safe and painless manner.

JOE TOPPE | STAFF

jtoppe@communityjournals.com

So what gives, and how is it painless?

By partnering with John Deere

A beam of intense laser light is focused on the targeted area where the hair needs to be removed. The beam of light reaches the inside of the top layer of skin, gets converted into heat energy, and causes disintegration of the targeted hair. The outer skin remains unharmed because the procedure is combined with a unique cooling process to keep the outer skin cool and comfortable. With our new, specialized lasers, we are able to treat the area in almost one tenth of the time.

With greater depth of penetration of laser energies, and improved absorption of the heat at the follicle, the vacuum-assist technology reduces discomfort to a virtually painless level.

So the question left is simple. Can you bare it? We can.

Cindy Jackson and Angela Mathews are part of the Back to 30 Rejuvenation Centers team. With three locations in the Upstate, their latest opened at McBee Station in October 2014, they are industry experts in the area of skin care and total body wellness.

To learn more about Back to 30 Rejuvenation Centers, you can visit them online at:

www.backto30.com or call them at

864.244.8730 | 864.663.1930 | 864.234.7900 TM

TO

8

UPSTATE BUSINESS JOURNAL

October 31, 2014

and adding to the technology’s scope of services, Michelin North America is expanding the market footprint of its airless radial tire.

The Tweel – a portmanteau combining the words “tire” and “wheel” – is a radial designed to eliminate problems associated with air-filled tires. It was commercially introduced

by Michelin Tweel Technologies two years ago for skid-steer loaders.

The Greenville-based company’s partnership with John Deere was announced at this year’s Green Industry and Equipment Expo and will make Michelin’s Tweel tire available to an exclusive model of the lawn and tractor manufacturer’s commercial mowers.

The John Deere ZTRAK 900 will now be outfitted with the newest version of the Michelin X Tweel Turf.

Ralph Dimenna, head of Michelin Tweel Technologies, said the Greenville company has been working with John Deere for several years on the project.

The partnership has the potential to dramatically change the commercial mowing business, he said.

By launching a new all-terrain model and a hard-surface model of the Michelin X Tweel, the tire manufacturer will also broaden its own lineup of skid-steer airless radials.

Equipped with traditional pneumatic tires, skid-steer loaders experience at least two or more flat tires per month, according to a Michelin release.

The company’s airless tire technology was formed in the late 1990s over lunch, said Michelin spokeswoman Mary Ann Kotlarich.

Dr. Tim Rhyne and co-inventor Steve Cron sat down in Greenville with the idea of challenging pneumatic tire technology. Over the following decade, the engineers worked diligently on various prototypes of the Tweel until showcasing at the 2005 North American International Auto Show in Detroit on the iBOT wheelchair and Segway Concept Centaur Human Transporter.

Kotlarich said Michelin engineers would continue to research further uses of the technology.

Michelin Tweel Technologies is currently studying other applications, she said. The focus will continue to be in the off-road environment where tire satisfaction is low due to interrupted mobility or poor performance.

UBJ QUARTERLIES

The Palmetto Bank

Southern First Bank

World Acceptance Corporation (NASDAQ: WRLD)

for Q3 2014 ended September 30, 2014

for Q3 2014 ended September 30, 2014

for Q2 2015 ended September 30, 2014

THE NEWS: Holding company Palmetto Bancshares, Inc. (NASDAQ: PLMT) reported that the provision for loan losses was -$500,000, reflecting the bank’s confidence in the quality of its loan portfolio.

THE NEWS: Increases all around. Assets topped $1 billion for holding company Southern First Bancshares, Inc. (NASDAQ: SFST), and there were double-digit increases in loan balances, deposits and revenues compared to one year ago.

THE NEWS: Growth in the loan business continues to slow down as demand in the United States decreases. Text marketing and other efforts aim to lure customers, as WAC prepares for a seasonal boost in business.

STOCK QUOTE: “We are encouraged by both our loan production during the quarter and our deposit generation efforts. We are also pleased to continue the quarterly dividend for our shareholders as part of our “value creation strategy” to increase the value of The Palmetto Bank franchise,” said Sam Erwin, chairman and CEO.

STOCK QUOTE: “I am proud of the accomplishments of the Southern First team as we generated record earnings of $1.6 million and surpassed $1 billion in total assets. We are also excited to open our second office in the Charleston region while continuing to experience solid client growth in each of our markets,” said CEO Art Seaver.

THE NUMBERS: Net income of $2 million is flat compared to the previous quarter. Earnings per diluted share are $0.15, par for 2014 but a 91.4 percent drop from one year ago.

Noninterest bearing deposits increased $13.6 million while time deposits decreased $6.0 million. The company also declared a quarterly cash dividend of $0.05 per common share payable on November 17, 2014 to shareholders of record on November 3, 2014.

THE NUMBERS: Loan balances rose 18 percent to $832.7 from $705.4 million for the same period a year ago. Net income to common shareholders increased 28 percent to $1.6 million from $1.2 million a year ago. Total revenue increased 19.4 percent to $10.1 million from $8.4 million. Core deposits rose 23.1 percent to $557.4 million compared to $453.0 million a year ago. Net interest margin decreased to 3.66 percent for Q3 2014, compared to 3.7 percent for Q3 2013.

STOCK QUOTE: “Our number one challenge remains growth and attracting new customers to our offices, and we’re focused on that challenge… people are not borrowing as often and paying down more, and we’re trying to address these issues,” said Sandy McLain, CEO. THE NUMBERS: Total revenues increased 1.7 percent from $150.0 million to $152.6 million compared to the same period a year ago.

Gross loans amounted to $1.19 billion, a 2.6 percent increase over the $1.16 billion outstanding a year ago, and a 9.0 percent increase since the beginning of the fiscal year. Earnings per diluted share increased 20.0 percent to $2.16 in the second quarter of fiscal 2014 compared to $1.80 a year ago, due to an ongoing share repurchase program.

Next week: KEMET, ScanSource

Stay in the know.

Upstate Business Journal

@UpstateBiz

October 31, 2014

TheUpstateBusinessJournal

UPSTATE BUSINESS JOURNAL

9

INNOVATE

By JOHN MOORE, CEO, NEXT

Movers, shakers and disruptors shaping our future

An entrepreneurial heritage Launching and growing globally impactful companies is critical to the economic success of any community, including ours. Headquarter companies that start and grow locally provide many important benefits to the area, including greater job creation, higher quality job creation, and wealth generation through ownership.

Attracting and supporting high-impact entrepreneurs is an aggressive economic development sport, and we have our work cut out for us to be competitive in that arena. That said, we have many of the ingredients necessary for a healthy ecosystem of entrepreneurs here.

One of the most pivotal is a strong history of entrepreneurship. Since Greenville’s founding in 1770, we have been home to a steady stream of entrepreneurs who have built thriving businesses that transformed the region economically and culturally.

In the earlier years, many of our top entrepreneurs were in textiles and engineering. Here are a few examples: WOODSIDE MILLS Four brothers, David, Edward, John and Robert Woodside took a leap of faith and created what would become the largest textile mill under one roof in the U.S. Though none of the founders possessed experience in the textile industry, their new venture prospered to the point that they also started a bank and helped finance construction of the Poinsett Hotel in downtown Greenville.

DANIEL INTERNATIONAL Charles Daniel left stable employment at Townsend Lumber Company in 1935 to launch Daniel International, which went on to build many of the textile and industrial facilities across the southeast as well as Donaldson Air Base in Greenville.

Daniel International became one of the largest construction firms in the world and was acquired in 1977

by Fluor Corporation, which remains

10

Since Greenville’s founding in 1770, we have been home to a steady stream of entrepreneurs who have built thriving businesses that transformed the region economically and culturally. a major employer for the area. The Daniel-Mickel Foundation, named for Charles Daniel and Buck Mickel, Mr. Daniel’s nephew who went on to lead the company for many years, has provided over $46 million in grants to support education, the arts and the environment locally.

JOHN D. HOLLINGSWORTH ON WHEELS Founded by Pinckney Hollingsworth in the late 1800’s, Hollingsworth on Wheels went on to become one of the largest textile machinery companies in the world under the leadership of the founder’s grandson, John D. Hollingsworth, whose passion for innovation and customer service drove the company to unforeseen heights of success and provided jobs for thousands of local citizens.

Created from Hollingsworth’s estate in 2000, Hollingsworth Funds and has since invested over $42 million in local organizations including Furman University, the YMCA of Greenville, and many other non-profit organizations working on behalf of the community.

Our legacy of successful entrepreneurship continues today, though some of the industries have changed.

Here are some more recent examples of local entrepreneurial success:

DATASTREAM Greenville entrepreneur Larry Blackwell launched Datastream in

UPSTATE BUSINESS JOURNAL

October 31, 2014

1986 with $55,000 in investment and grew the software firm to more than 1,000 employees and a valuation of $1 billion at its peak.

The company was acquired in 2006

by Infor and remains a significant employer in the area. Much of the senior leadership team that Blackwell built at Datastream remain in the area and have gone on to launch and invest in other new ventures locally.

Blackwell himself remains engaged mentoring younger, less experienced entrepreneurs.

with just a $50 investment, Masters began an entrepreneurial adventure that would lead to Perception becoming the industry leader leveraging its unique process of building rotationally molded plastic kayaks.

Perception was sold in 1999 and Confluence Watersports continues leading the kayak market from Greenville today, while Masters remains heavily involved in the entrepreneurial ecosystem mentoring young CEO’s.

SCANSOURCE

Now the largest advertising and marketing firm in South Carolina and one of the largest in the southeast, Erwin Penland was formed in 1986 by co-founders Joe and Gretchen Erwin and now serves as the agency of record for Verizon Wireless, Denny’s and other major accounts.

The agency employs over 200 individuals in its two offices in Greenville and New York and is very involved in the local community, providing marketing support to numerous non-profit organizations and leading the annual Food for Thought Conference. In 2012, the Erwins announced a gift of $1 million to found the Erwin Center for the Study of Advertising and Communication at Clemson University.

Fortunately, our public and private sector leadership recognize the importance of growing new entrepreneurial ventures for the future of our community. They support organizations like NEXT, the Upstate Carolina Angel Network, and others that provide critical services to entrepreneurs, and they engage directly with many of our promising new ventures.

With continued commitment to high-impact entrepreneurship as an economic development strategy, Greenville and the Upstate region will see our historic roster of successful entrepreneurs continue to grow— for the enduring benefit of all of us.

In 1992, co-founders Steve Owings and Mike Baur launched Scansource with six employees. Today, the company employs over 1,500 people worldwide and posts annual sales of $2.9 billion, making it one of the largest companies headquartered in S.C. In just its second year of operations, the Scansource Charitable Foundation was created and has invested millions of dollars in the community. Also, Scansource provided a major gift to Clemson University in 2009 to help move its graduate business program to downtown Greenville.

Attracting and supporting high-impact entrepreneurs is an aggressive economic development sport, and we have our work cut out for us to be competitive in that arena.

PERCEPTION KAYAKS Bill Masters created a company that would change the kayak industry forever, Perception Kayaks. Starting

ERWIN-PENLAND

By BRIAN MURPHY, attorney, Stephenson & Murphy LLC

PROFESSIONAL Strategies for honing your professional skills

Guard your secrets well

The role of restrictive covenants and trade secrets Part 2 of a three-part series on employee competition In last week’s segment, we

edge acquired or increased during previous employment. What constitutes “general knowledge” versus knowledge that is a “trade secret” is tricky at times and often hotly contested. In addition, while some information by itself may not be a trade secret (for example, the identity of certain customers in an industry), certain compilations of that information may constitute a trade secret when they add value or contains information that is not readily available.

discussed the common-law duty of loyalty that exists during employment.

Two sources of restrictions may apply to employees even after employment ends: Restrictive covenants and the law governing trade secrets.

RESTRICTIVE COVENANTS Restrictive covenants generally take one of two forms. Traditional non-compete agreements require an employee to stay out of a certain industry within a certain geographical area for a prescribed period of time.

Non-solicit agreements, on the other hand, are aimed more at specific customers than at merely attempting to avoid competition itself.

The enforceability of a restrictive covenant is determined by measuring the covenant against five related factors: First, the covenant must be supported by valuable consideration.

This means that the covenant was entered into either at the beginning of employment, or the employee received something of value in exchange for the agreement. Second, it should be only as broad as necessary to protect the legitimate interests of the employer, such as, for example, protecting a customer relationship.

A mere desire to dominate a market area is not a legitimate interest.

Third, the covenant must be reasonably limited in operation with respect to time and place. Fourth, the covenant many not be unduly harsh and oppressive in curtailing the legitimate efforts of the employee to earn a livelihood. Fifth, the covenant must be reasonable from the standpoint of sound public policy.

REALIZE EACH CASE IS UNIQUE Other than these general principles, offering universal guidance on what

would be considered enforceable is impossible, as each case must be evaluated according to its own unique facts. For example, whether the employer breached obligations to the employee before the job separation is an issue that frequently arises and may affect the outcome of the case.

The nature of the market involved also is a key issue that must be examined against the unique facts of the situation. For example, a geographic restriction that coincides with a franchisee’s two-county territory may be reasonable in one case, but the same geographic restriction may be overly broad in another industry or field.

Many employers have wisely abandoned the traditional non-compete agreement and gone instead to specific non-solicit agreements that ban efforts to divert work from customers the employee had contact while employed. These present different issues, but generally are far more defensible if limited properly.

In addition to these general legal principles, most judges will consider several other key issues as well.

Among them: did the employee quit voluntarily; does evidence exist that the employee wrongly sought to “steal

What constitutes ‘general knowledge’ versus knowledge that is a ‘trade secret’ is tricky at times and often hotly contested.

BE PROACTIVE: GUARD YOUR SECRETS WELL

business;” does the employee have customer contact, experience, and knowledge gained prior to the employment at issue. Although these factors are not written down in the law, they have been influential in our experience in guiding judges in their efforts to balance the interests of the parties.

TRADE SECRETS South Carolina law provides significant protections for employers’ legitimate trade secrets regardless of whether a restrictive covenant is in place. The Trade Secrets Act provides companies with a right to sue for the misappropriation of trade secrets. It defines a “trade secret” as information that is valuable because it is not generally known or easy to determine.

The person claiming to own the information also must take reasonable steps to maintain its secrecy.

Misappropriation of trade secrets includes taking, using, or disclosing the information.

Employees are generally entitled to take the skills and general knowl-

October 31, 2014

For employers, it is essential to take reasonable steps to protect the information at issue before there is an issue. Changes in technology have caught many employers by surprise.

For example, many companies now encourage employees to “bring your own device,” (a/k/a BYOD) allowing them to use devices the company does not own or control. However, some of those companies take no steps to prevent the same employees from donating their computers, complete with hard drive, or from selling them at a garage sale. The use of popular file sharing software (e.g. Dropbox, Evernote) also can remove data from systems previously implemented to maintain and track it. Policies and systems that once were adequate to protect trade secrets simply have not passed the test of time.

As mentioned above, the position held by a former employee often influences the outcome of a particular case. In our final segment, we will discuss issues specific to those in a fiduciary relationship with the company, including officers and equity owners. We also wrap up with some general advice for both employees and employers to aid in planning and protecting their respective interests.

UPSTATE BUSINESS JOURNAL

11

FOCUS ON COMMERCIAL REAL ESTATE

COVER STORY

Greenville’s retail tsunami Retail experts weigh in on the trends just ahead SHERRY JACKSON | STAFF sjackson@communityjournals.com

The Upstate is exploding with new apartments and housing – which means a tsunami of retail will rush into downtown.

After all, those new residents need somewhere to shop. Magnolia Park is well under way, a new Bass Pro Shop is in our future, and just last week we learned the Greenville News site downtown will become a bustling retail center.

What else can we expect to see in the future?

What stores do we need or would we like to see?

What are the trends in retail right now? We asked local retail experts to weigh in.

Jimmy Wright, Principal and Broker, NAI Earle Furman, and Tommy Molin, Senior Associate, CBRE provide discussion on the evolving retail market in the Upstate.

WHAT TOP FIVE RETAIL BRANDS DOES GREENVILLE AND THE UPSTATE NOT HAVE YET THAT YOU WOULD LIKE TO SEE? WHY WOULD THEY BE A GOOD FIT? WRIGHT: For apparel – Lululemon Athletica, Urban Outfitters, H&M and Saks Off Fifth. In the

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home furnishings space; Ikea, Crate & Barrel, Restoration Hardware and The Container Store.

Regarding food, I would like to see Cheesecake Factory, California Pizza Kitchen and Biscuitville.

Our area would benefit from any of these regional retails, and we have the market to support regional apparel retailers who offer something different and provide consumers with more choices.

MOLIN: Field and Stream, West Elm, Gander Mountain, Sprouts Farmers Market, H&M. These are all retailers that cater to the strong demographics that the Upstate provides. The region is poised for long-term strong growth and is one of the most important areas for a retailer to consider when opening locations in South Carolina.

power centers and undeveloped land for new construction, which make them good candidates for retail growth.

MOLIN: Magnolia is just one piece of the retail development puzzle in the Woodruff Road area. There is a significant amount of under-used real estate that was part of the land owned by Hollingsworth, including areas around CU-ICAR and the Verdae Development. Twenty years from now those areas are going to be very different and retail will be a significant component of the development that occurs.

WITH MAGNOLIA PARK FILLING IN, WHAT’S THE UPSTATE’S NEXT BIG HOT SPOT FOR RETAIL?

DO YOU SEE AREAS OF GREENVILLE BECOMING DISTINCTIVE – I.E. AUGUSTA ROAD MAYBE MORE HIGH-END RETAIL LIKE SOUTH PARK IN CHARLOTTE OR THE VILLAGE OF WEST GREENVILLE LIKE NODA? WHY AND HOW?

WRIGHT: Haywood Road and Laurens Road corridors have strong core retail, particularly Haywood Road around the mall, and both areas also have space that can be redeveloped for

WRIGHT: Greenville has pockets such as Augusta Road, downtown and West Greenville that show retail trends, but they’re not as distinctive as Charlotte’s submarkets, but that’s OK. Our market

October 31, 2014

FOCUS ON COMMERCIAL REAL ESTATE

COVER STORY is set up differently, and there is a constant evolution to the retail market.

MOLIN: While Augusta Road definitely caters to retailers that have a niche among the wealthier residents who shop there, there’s not a critical mass of development to make the corridor take off for ultra-high end retail. I think the comparison that people like to use is that of King Street in Charleston. I don’t expect any region of the Upstate to hit that level of retail development, as I do not envision the area becoming a playground for the wealthy that Charleston is. On a go forward basis, with all of the development occurring in downtown Greenville, I would envision Main Street being the destination of choice for retailers catering to the wealthiest demographic in our market.

WHAT TYPE OF RETAIL IS LACKING IN DOWNTOWN? ACROSS GREENVILLE? ACROSS THE UPSTATE? WRIGHT: Our market supports a lot of restaurants and has necessary retail, but we have an opportunity to grow our apparent retail offerings across the Upstate. Beja-Flor is a great example of a retailer that created an additional, niche offering, and the market has responded positively and has supported their growth.

MOLIN: The Upstate features a population that is growing and increasingly more active. Retail that caters to active consumers will do well. Additionally, the market is of interest to more high-end retailers and grocery stores. We expect to see more of those retailers in the coming years.

IN THE NEXT TWO-FIVE YEARS, WHAT DO YOU SEE AS FAR AS RETAIL TRENDS IN OUR AREA? WRIGHT: We anticipate the grocery store market picking up again as our population continues to grow and fill in areas that were once perceived as too thin. Additionally, as income levels and correlating disposable income continues to increase, we will see more apparel retailers come to the market.

MOLIN: While the retail sector has changed since the Recession, we see a continuation of old trends as well as the emergence of new ones. First, just as before the Recession, we see the most prominent development occurring in larger shopping centers where grocery stores are the anchor. A new trend that is having an impact on the market is the reduction of footprints among users, as well as the blurring of lines between online and brick-andmortar stores.

Tommy Molin, Senior Associate, CBRE

DO YOU SEE ANY MIXED-USE, OUTDOOR RETAIL DEVELOPMENTS ON THE HORIZON? IF SO, WHERE WOULD BE THE BEST SPOT FOR IT? WRIGHT: Mixed use retail where people can live and work has been very successful, and we’re seeing more and more of that in Greenville. The Greenville News site has plans for mixed use, and County Square is the next site where large retailer components would make sense.

MOLIN: I know some in the industry have predicted that the open-air lifestyle center was dead as several projects struggled coming out of the Recession. The reality is that the open-air concept provides reduced CAM for tenants and greater tenant flexibility for the landlord. The fact that these kinds of projects are still well received by the public means we will eventually see some of this type of development in the Upstate. As far as a location, that is difficult to say, but I could easily see a center with strong tenants succeeding as a part of re-development along Laurens Road or potentially on the outskirts of downtown.

WHAT ARE YOUR THOUGHTS ON THE RETAIL CHANGES ALONG AUGUSTA ROAD? WHAT’S GOOD/BAD ABOUT WHAT’S BEEN DONE SO FAR AND WHAT IS COMING UP? WRIGHT: Personally, I think the changes represent a healthy evolution for the submarket. The new CVS is an example of a positive change. The corner will be cleaned up, there has been a spin-off

Jimmy Wright, Principal and Broker, NAI Earl Fruman

development across the street, and the space where CVS will vacate will allow one or two new retailers to join the corridor.

MOLIN: In the long run, I have a hard time seeing Augusta Road seeing significant changes in terms of major retail development, although I could see the expansion of Main Street with more mixed-use development on a smaller scale than what has been completed downtown. We are already seeing some of this type of activity with the development of Southridge by the Beach Company and the redevelopment of the Claussen Bakery by The Furman Co.

WHAT DO YOU THINK ABOUT THE MIX OF RESTAURANTS ON AUGUSTA ROAD? TOO MANY, NOT ENOUGH? WRIGHT: There are a lot of fast casual restaurants and some high-end dining options on Augusta Road, but the area could benefit from more relaxed dining where people can hang out and have a drink and possibly stay for dinner if they want. The Local Taco is a good example of this, but we need more options like this.

MOLIN: Augusta Road has numerous barriers to entry but the most prominent one is the lack of commercial sites available for development. The redevelopment of Lewis Plaza will provide a much-needed boost for the retail demand in the area. We do anticipate more restaurant retail in that corridor, but there is not a lot of real estate to use for major new developments.

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CRE REPORTS ROUNDUP

Third quarter CRE market reports show retail, office, industrial markets are thriving SHERRY JACKSON | STAFF

➤ AT A GLANCE

sjackson@communityjournals.com Retail continues to attract new projects; net absorption rates are up across the board, the industrial market continues to need new product and vacancy in the office market is the lowest in six years, CRE professionals report.

Here are excerpts from the third quarter 2014 market reports from some the area’s leading commercial real estate companies.

RETAIL

Market

Vacancy Rate

Industrial

Net Absorption

Rental Rates

8.0%

191,253 SF

$3.34/SF

10.0%

9,285 SF

$7.19/SF

Office

8.7%

239,536 SF

$14.29/SF

Retail

7.0%

164,125 SF

$9.23/SF

Flex

From Lee & Associates Q32014 Greenville Summary Report

LEE AND ASSOCIATES Little has changed in the retail market in the third quarter of 2014. However, with strong net absorptions, solid rental rates, and continued decreases in vacancy, what needs changing?

Third quarter net absorption was moderate, with a positive 164,125 square feet absorbed in the Greenville/Spartanburg retail market. This compares to a positive 53,541 square feet at second quarter 2014 and 234,395 square feet at the beginning of the year. Vacancy rates ended the quarter at 7.0 percent. This represents a 1.4 percent decrease from mid-year 2014 when rates were reported at 7.1 percent. Average quoted rental rates ended the third quarter of 2014 at $9.23/SF per year, compared to $9.27 at the end of second quarter.

During the third quarter 2014, nine buildings totaling 85,552 square feet were completed in the retail market. Over the past four quarters, 270,515 square feet has been built in Greenville/Spartanburg. In addition to these deliveries, 240,233 square feet of retail space is still under construction

at the end of the third quarter. Total retail inventory in the Greenville/Spartanburg market amounted to 83,597,029 square feet in 10,544 buildings and spaces at the end of third quarter 2014.

NAI EARLE FURMAN 2014 continues to be a growing year for the Upstate retail community. Developers are beginning to look more closely at new projects, primarily in established retail markets like Haywood Road and Augusta Road in Greenville, Clemson Blvd. and Highway 81 in Anderson, Highway 153 and 123 in Powdersville and Easley, and W.O Ezell and Highway 9 in Spartanburg. This is supported by the low vacancy rates in these and other submarkets.

INDUSTRIAL CBRE For the 14th consecutive quarter, absorption was positive, though barely. At the beginning of

the year, CBRE forecast that lack of available product would begin to curtail the furious levels of market activity experienced in 2012 and 2013.

That downshift is now underway with a lower-than-typical absorption of 210,000 square feet.

Vacancy remained at a record low of 7.3 percent.

Developers have recognized the opportunity created by this shortage of supply and are beginning to respond with speculative construction, as well as continued build-to-suit activity.

COLLIERS Companies continued to announce plans to invest and expand throughout the Greenville/ Spartanburg industrial market, which ended the third quarter of 2014 with an overall vacancy rate of 8.1 percent, holding steady over the previous quarter. Overall asking rental rates were up slightly to $3.06 from $3.02 at mid-year 2014.

Leasing and sales velocity was limited as quality industrial space remains in short supply throughout the market. The private and public sectors >>

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UPSTATE BUSINESS JOURNAL

October 31, 2014

Every Game

FOCUS ON COMMERCIAL REAL ESTATE

CRE REPORTS ROUNDUP >> are answering the demand for new industrial space and developing speculative industrial buildings, most of which are pre-leasing successfully.

Speculative developments will generate future growth and benefit the overall economy as companies invest in the market and generate jobs. `CUSHMAN & WAKEFIELD | THALHIMER Thanks to the BMW ripple effect, more suppliers have to react and adjust their facilities accordingly, whether via expansions or complete relocations. The I-85 corridor in Spartanburg County remains the premiere location for the bulk of transactions and site visits.

It’s exciting to finally see Class A deliverables to the market. Despite some recent development activity, the lack of Class A product in the market continues to be an area of opportunity to attract new business to the region. It’s hard to attract new business prospects to the area without having available existing product to show them. To maintain our growth moving forward, we expect more activity surfacing in Class A speculative construction. When the market is good, there’s a correlation between activity and available product.

The more product you have, the more activity you’ll see.

Spartanburg industrial market experienced a positive net absorption of 191,253 square feet in the third quarter of 2014. This compares to a positive 395,944 square feet in the second quarter of this year. Due to the positive net absorption rates the market has experienced so far this year, vacancy rates have yet to experience any increases.

One building totaling 206,000 square feet was completed in the Greenville/Spartanburg market at the end of the third quarter. In addition to this delivery, 1,633,967 square feet of industrial space is still under construction as we move into the last quarter of the year. Total inventory in the market now amounts to 190,729,320 square feet in 4,681 buildings.

NAI EARLE FURMAN

Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014

Positive trends continue through the 3rd quarter, with respect to lower vacancy and rising rental rates. This positions us well for growth in the industrial sector.

The vacancy rate for the Greenville/Spartanburg market ended the third quarter at 7.9 percent, down from 8.3 percent at the end of the second quarter. The net absorption totaled a positive 181,968 square feet in the third quarter.

Rental rates have steadily increased throughout 2014. The average asking rental rate this past quarter was $2.92 NNN per square foot. Although LEE AND ASSOCIATES According to CoStar, the Greenville/ rental rates are not as high as we would like, the rise continues to be encouraging ➤ TOTAL MARKET VACANCY AND ABSORPTION news to landlords Absoprtion Vacancy/ Sq. Ft. Availability and investors.

Net Absorption Vacancy Availability (millions) Rate This upward trend 3 16% in rental rates 2 14% positions the 1 12% Upstate market 0 10% well for future (1) 8% development of (2) 6% quality industrial product.

From CBRE Research, Q3 2014; Greenville-Spartanburg Industrial MarketView

OFFICE CBRE High activity levels are driving activity in the market bringing vacancy to 13.9 percent, its lowest point in six years. Three primary story lines emerged during the quarter: record-setting activity levels, potential redevelopment and the spread of rising asking rates beyond Class A product.

For the first time in the 13 years we have been tracking the local office market, we have witnessed five consecutive quarters of absorption and declining vacancy. In a small market like Greenville-Spartanburg, a single large vacancy can swing the needle, even during high velocity.

COLLIERS The Greenville office market is gaining momentum and will experience increased leasing velocity in upcoming quarters. The third quarter of 2014 ended with decreased vacancy rates and higher rental rates. The vacancy rate was down to 16.68 percent from 17.58 percent at mid-year 2014.

Rental rates averaged $17.73 per square foot for the entire market, up from $17.52 per square foot at mid-year 2014.

Office-using employment is on the rise in Greenville, and as of August 2014, 158.8 percent of office-using jobs lost during the recession had been regained. As of August 2014, the Greenville-Mauldin-Easley MSA was the largest employer of the office sector with 83,100 jobs, a gain of 11,400 jobs since the recession. With the presence of Clemson University’s MBA program and other undergraduate and graduate level programs throughout the region, office-using employment is likely to continue to grow yielding a higher demand for office space and lower vacancy rates.

CUSHMAN & WAKEFIELD | THALHIMER The Upstate office market continues to see activity from notable tenants and growing interest from outside investors due in large part to the

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UPSTATE BUSINESS JOURNAL

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CRE REPORTS ROUNDUP growth of the automotive and healthcare industries.

Year-to-date, vacancy and asking rents have improved over the same period one year ago. While overall absorption for the year remains negative we did see positive absorption in the third quarter.

Landlords continue to increase asking rates and hold on to large blocks of space in both the CBD and suburbs. Landlords are maintaining large blocks of space in pursuit of tenants with large floor requirements. Unfortunately, large-block users are not in excess and will ultimately lead to the division of large spaces, which will be helpful for smaller tenants that have struggled to secure space.

LEE AND ASSOCIATES Compared to the beginning of 2014, the latter portion of 2014 has really eliminated the negative.

While the first portion of 2014 office reports appeared to be inundated with declines, the latter portion of the year has eliminated “Mister In-Between.” Net absorption for the overall office market was positive 239,536 SF. This is the first positive net absorption that 2014 has seen in this discipline.

Mid-year stats reflected a negative absorption of 87,794 SF. This strong net absorption had a pos-

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itive impact on the vacancy rates for all classes.

Overall rates decreased to 8.7 percent at the end of the third quarter. This compares to a rate of 9.4 percent at the end of the second quarter and 9.1 percent at the end of the first quarter 2014.

NAI EARLE FURMAN The Greenville office market is seeing an interesting divergence of activity between large tenants and small tenants. The small tenant market continues to be active and quality Class A spaces are absorbing well. However, we are seeing a few large vacancies drag down the occupancy rate for both the Suburban and CBD markets. Currently, the Greenville suburban submarket vacancy rate is approximately 18.1 percent with average full-service gross rental rates close to $16.00 per square foot.

On average, the vacancy rates in the CBD Class A and B are 16 percent and rental rates are $20.13 per square foot.

The large blocks of vacancy in the suburban market skew the vacancy rates upward. These large vacancies are mostly due to the contraction and relocation of Fluor back to the company headquarters and the loss of Athene (formerly Liberty Life

October 31, 2014

Corporation) who relocated to the Midwest due to an acquisition.

The very healthy market in the small to midsized vacancies under 10,000 square feet continues to be a bright spot with projects like Bonaventure Office Park and Independence Corporate Park, which have single digit vacancy rates. New speculative construction continues to be held back with the fluctuations in vacancy in the market.

➤ VACANCY RATE TRENDS Q3-13

25% 20%

20.3% 17.6% 16.7%

Q2-14

Q3-14 21.1%

19.3% 18.1% 16.5%

17.3% 16.8%

15% 10% 5% 0%

Market

CBD

Suburbam

GUEST COLUMN—PROPERTY TAXES

FOCUS ON COMMERCIAL REAL ESTATE

By MARK COOTER, CPA, Cherry Bekaert

Taking on the tax man

PRESENTS

ANITA ZUCKER CEO, Hudson’s Bay Company

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Presentation begins at 5:00 PM

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By maintaining accurate records of your fixed assets, you will enjoy better management of those assets. Once you know your true investment and return, you can make better decisions regarding acquisition of new assets and the use of existing ones.

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Properly classifying your assets for depreciation purposes can reduce your taxes, if those assets can be put into a category with a shorter life span. Real property may appreciate over the years, so aim for the lowest possible real property valuation.

Starting with a modest value means that future increases will be smaller.

Computer equipment can be depreciated more rapidly than manufacturing equipment or office furniture. Records should specifically classify all high-tech equipment.

Assets that are subject to unusual wear and tear may also qualify for

faster-than-normal depreciation.

Also, some states provide property exemptions for software and equipment used in research and development, manufacturing or pollution control. Be sure you know your state’s exemptions and use them whenever possible.

Cost segregation studies and implementation of new tangible property regulations can help ensure you are maximizing deductions and getting assets classified in the correct and shortest life possible.

GRANITE

Keep track of fixed assets. Inventory your property every few years, especially if you have assets in more than one location.

Conduct a hands-on audit. On-site inspections and interviews with operations personnel can quickly identify assets that are no longer in use. Avoid paying tax on this “ghost” property.

De-dupe your records. Some assets may have been listed twice. In many cases, repaired equipment is added to your property tax rolls, while the

FASTER DEPRECIATION

MARBLE

When you purchase new equipment, ask your vendor to provide an itemized bill that details the tangible and intangible costs. In some jurisdictions, you may not owe property tax on the intangible costs.

For example, let’s say you buy new machinery for $2 million, and the vendor gives you a bill for “$500,000

SURE-FIRE STRATEGIES

original item remains on the list, too.

Sell or donate unused assets. If you keep little-used or abandoned assets on your books, you will continue to pay taxes on them.

PLATINUM

INTANGIBLE COSTS

in hardware, $500,000 in engineering and development, and $1,000,000 in overhead.” You would pay tax on only $500,000 worth of property, not $2 million, because $1,500,000 is considered intangible property and not subject to property tax. Intangible costs don’t add value.

SILVER

al property taxes is simply a fact of life. Your taxes go up as you acquire property, and drop as that property depreciates. If the equipment and other property on your books are overvalued, however, you are almost certainly paying too much tax. Your company can utilize a number of strategies to reduce property taxes.

Your company’s property tax challenges are unique.

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UPSTATE BUSINESS JOURNAL

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7/21/2014 2:05:08 PM

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COVER PACKAGE

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Listing Address: 582 Perry Avenue Listing Broker: Alexi Paparieris, NAI Earle Furman Listing Price: $299,000 Property Details: Zoned RDV, the 5,700 square foot property has a new roof and is sub-dividable.

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It takes a village SHERRY JACKSON | STAFF sjackson@communityjournals.com Some say the Village of West Greenville is the

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next hot spot as Greenville continues to grow. In what was – and in some ways still is – a run-down, poor section of town left blighted when the area textile mills closed, the area is steadily attracting pioneering artists into renovated spaces along Pendleton Street.

Recently announced projects such as the West Village Lofts – a 150-loft apartment community in the renovated Brandon Mill – The Village Grind, a new coffee shop opening near Lily Pottery, and even the relocation of yours truly,

Community Journals, along with longer-time residents Mac Arnold, Naked Pasta and Knack Studios, all are part of the ground floor of what is sure to be an amazing transformation.

What the Village will look like in five, 10 or 20 years from now is anyone’s guess, but we here at UBJ thought it would be fun to show you some similar examples of long-term development from Rainey Street in Austin, Texas, where converted houses and backyards-turned-into-outdoor-patios with live music have become a funky, outdoor destination.

Compare that with some of the property listings for sale in the Village of West Greenville. Then dream big, movers and shakers of Greenville, and make it happen.

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Listing Address: 615 Pendleton Street Listing Broker: Jeff Randolph, The Randolph Group Listing Price: $400,000 Property Details: Zoned C-3, .345-acre parcel is vacant

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Listing Address: 900 Pendleton Street Listing Broker: Keith Jones, NAI Earle Furman Listing Price: Lease for $16/SF NNN Property Details: This 2,100-square foot building is located on a .5-acre corner lot. It has an existing drive thru and vault.

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Listing Address: 800 Pendleton Street Listing Broker: Matt Carter, Joyner Commercial, Berkshire Hathaway HomeServices Listing Price: $297,500 Property Details: Zoned C-3, Class B space on .40 acres. Includes historic, 5,550-square foot home built in 1898 with attached retail/office.

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DEALMAKERS Commercial real estate transactions in the Upstate AVISON YOUNG ANNOUNCED: SPENCER/HINES PROPERTIES St., Spartanburg, for $340,000 to the buyer.

ANNOUNCED: Rob Howell represented David Strickland represented the David Strickland represented 159 Welborn Street in selling seller, Valley Falls Road Boiling the seller, Pacolet Milliken 0.99 AC for $500,000 to the Enterprises in selling 12,400 SF Springs, in selling 101.676 AC buyer, the City of Greenville. for $700,000 to the buyer. at 305 Pacolet St., Jonesville, John Odom represented for $120,000 to the buyer, Ford. Andy Hayes represented the the sellers, Mark and Clark Cahaly in selling 4,500 SF Dale Seay represented the seller, seller, Harriette Edwards in of retail space at 3016 Augusta David H. Cobb, et al, in selling selling 12.6 AC at Highway 11 and I-26, Campobello, for Rd. for $310,000 to the buyer, 1,296 SF of office space at 1314 W. Poinsett St., Greer, to $216,000 to the buyer Jon Neil District Augusta, LLC. Barron. the buyer.

SPECTRUM COMMERCIAL PROPERTIES ANNOUNCED:

Jack Snedigar represented the buyer, Rhino Holdings, LLC, in purchasing 17,500 SF of industrial space and land at 5 Space Dr., Taylors.

David Strickland represented the sellers Julian and Grances Barnett, in selling 900 SF of office space at 3235 Boiling Springs Rd., Greenville, to the buyers, Bachittar Singh and Amandeep Singh Sandgu.

Andy Hayes represented the seller, Cecil F. Lanford, in selling 3,340 SF for $200,000 to the buyer, The Uma Vijayah Revocable Trust.

Bobby and Zach Hines represented the seller, Rallis Brent Freeman represented the Holdings, LLC, in selling 7.33 David Strickland represented landlord, Franklin Vaughn in AC at 2500 N. Pleasantburg Dr., leasing 2,000 SF of flex space at the seller, Dennis & Ron LLC, in Greenville, for $1.3 million to selling 22,000 SF of warehousing 114, Toledo St., Greenville, to the the buyer, North Pointe, LLC. at 3651 Cannons Campground tenant, 3 Dog Pet Supply, LLC. Rd., Spartanburg, for $160,000 Zach Hines represented the Michelle Lang represented to the buyer Industrial Services & seller, Simac Bizyak, in selling the tenant, Season’s Catering Solutions, LLC. a 2,400 SF multi-family and Café, in leasing 2,600 duplex at 11 Brandy Mill Way, Guy Harris represented the SF at 1054 A, E. Butler Rd., Pawleys Island, to the buyer, Ted seller, Caman Group, Inc., in Greenville.

Gagloamp. selling 11,080 SF at 14 Tradd

Andy Hayes and David Strickland represented the seller, Greer 29 Associates, in selling 1.64 AC at 805 W. O Ezell Blvd. for $250,000 to the buyer Patton Development.

Bobby Hines represented the seller, Leroy Dodson Investments, LLC, in selling a hair salon/dog grooming facility at 901 Old Airport Rd., Greenville, for $180,000 to the buyer, Coiffed & Colland, LLC. Dale Seay represented the lessor, Beth Owens in leasing 1,600 SF at 100 Burton Street, Spartanburg, for $13,000 to Sylvan Learning.

Robbie Romeiser represented the lessor, Dodge Stores, in leasing 2,000 SF at 2740 Boiling Springs Road, Greenville, for $12,000 to American Granite.

in leasing 60,000 SF at 1335 Hayne St., Spartanburg.

LEE & ASSOCIATES ANNOUNCED: Randall Bentley represented the buyer in purchasing 20,000 SF of industrial space at 310 Interstate Blvd., Greenville.

Laurens Nicholson facilitated a 41.21 SF land purchase at Hwy 221 at Timm Creek, Roebuck.

Bryon Culbertson and Deanna Hudgens facilitated the 820 SF lease of 1010 Woods Crossing Rd., Suite E, Greenville.

Kevin Bentley represented the buyer in purchasing 1,911 SF of office space at 18 Parkway Commons, Greer.

Bill Durrell represented the tenant in leasing 1,390 SF at 24 Vardry Street, Suite 202, Greenville

CUSHMAN & WAKEFIELD | THALHIMER ANNOUNCED:

NAI EARLE FURMAN ANNOUNCED:

Brian J. Young and Kacie Jackson represented the tenant, Phillips Pet Food & Supplies,

Alexi Papapieris and Taylor Allen represented the landlord in leasing of Park East and Park

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FOCUS ON COMMERCIAL REAL ESTATE

DEALMAKERS Commercial real estate transactions in the Upstate Central office parks in leasing General.

6,283 SF to Aeronix, Inc., John Gray and Drew Stamm 2,131 SF to Vision Business represented the landlord in Solutions, Inc. and 1,308 SF to leasing 1,950 SF of office space Phil Levin, EA & Co., Inc. at 339 Prado Way, Greenville, Scott Jones represented to Carolina Living Real Estate, the Riley Center for Eating LLC. Disorders in leasing 5,509 SF of Stuart Wyeth and Taylor Allen office space at 12 Maple Tree Dr. represented the landlord in

John Powell represented the seller in selling 71.36 AC of land at the intersection of US 76 and Highway 123, Clemson, to Clemson Village 2, LLC.

Richard Barrett and Michael Sease represented the landlord, Golden Oaks Industrial Park LLC, in leasing 6,300 SF of flex space at 1095 Thousand Oaks Blvd., Greenville, to the tenant, American Home Pride, Inc.

Tyson Smoak and Ross Kester represented the buyer in purchasing 3.15 AC of land at the intersection of Poinsett Keith Jones represented landlord leasing 3,402 SF of office space Highway and Roe Road, in leasing 2,054 SF of office at 101 N. Main St., Greenville, Travelers Rest. space in Green Gate Office Park. to International Business Rob Schmidt represented the Jake Van Gieson, Bill Sims and Machines Corporation. seller in selling 3,000 SF of Gaston Albergotti represented office space at 7 & 9 McKenna Andrew Babb, Dan Dunn and the tenant, ADC Engineering, Commons Court to Agapi Kevin Pogue represented the Inc. landlord in leasing 5,900 SF of Holdings, LLC. Peter Couchell, Rob Schmidt and Andrew Babb represented the landlord in leasing a 7,636 SF of retail space at 1071 Fernwood Glendale Rd. Jimmy Wright, Ted Lyerly and Brendan Gower represented the tenant, Big Daddy T’s Southern Grill.

Jimmy Wright, Ted Lyerly and Brendan Gower represented the landlord in leasing 9,014 SF of retail space at 907 E. Main Street, Laurens, to Dollar

32

landlord in leasing 6,000 SF of COLLIERS INTERNATIONAL flex space at 49 Concourse Way, ANNOUNCED: Greer.

Richard Barrett and Michael Sease represented the seller, John Gray and Drew Stamm Kingdom Life Christian Center, represented the landlord in leasing 2,240 SF of retail space in selling the church property at at Augusta Pointe, 104 Mauldin 202 E. Butler Rd., Mauldin, to Emmanuel Bible Church.

Rd., Greenville, to Jackson Hewitt Tax Service.

26

24

40

SALES*

Frank Hammond and Nick Reinhardt represented the seller in selling 2,700 SF of retail space at 210 N. Main St., Mauldin, to the buyer, Desk Investment LLC.

18

Frank Hammond and Nick Reinhardt represented the tenant, Crown Services, Inc., in leasing 893 SF of retail space at 1042 N. Pleasantburg Dr., Greenville.

12 11

rma n

57

17

LEASES* in the last 365 days

40 brokers.

3 Upstate offices.

550+ completed deals in 2013.

5 million+ SF under management.

er Oth eal R

45

*Source: CoStar - Greenville/Spartanburg market for the last 365 days as of 10.23.14

247

rman

46

21

Fu

rle a NAI E

35

23

NA IE a

rle

132

73

System.

Leading the Upstate in Commercial Real Estate Transactions

in the last 365 days

41

Will Nelson represented the landlord, Foothills LLC, in the lease renewal of 2,400 SF of retail space at 150 Foothills Center Dr., Suite 148, West Union, to the tenant, Life Strides Physical Therapy & Rehabilitation.

Richard Barrett and Michael Sease represented the landlord, Woodruff Place 133 LLC, in leasing 2,364 SF of office space Bob Shaw and Frank Hammond at 133 Woodruff Place Circle, represented the tenant in leasing Simpsonville, to the tenant, 6,047 SF of office space at 55 Tooling Technology Center LLC. E. Camperdown Way, Greenville. Will Nelson represented the landlord, Stallings Corner Bob Shaw represented the Investors LLP, in leasing 1,080 landlord, US REIF ICP South SF of retail space at 1316 Carolina LLC, in leasing Stallings Road, Suite 1316, 4,830 SF of office space at 1 Independence Pointe, Greenville, Greenville, to the tenant, Tirados to the tenant, Greenville Health Empanadas & More.

retail space at 1914 E. Main St., Keith Jones represented the buyer in purchasing 30,375 Spartanburg.

SF of industrial space at 1931 Hunter Garrett and John Perimeter Rd., Greenville.

Staunton represented the

Fu

Oth Realer Com Es tat e

l cia s r e m m Fir

Richard Barrett and Michael Sease represented the buyer, BSE Investments LLC, in purchasing 8,000 SF at 480 Mayfield Road, Duncan.

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C Es omm er tat e Fir cial ms

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Local ownership.

Global reach. naiearlefurman.com

Commercial Real Estate Services, Worldwide.

October 31, 2014

UPSTATE BUSINESS JOURNAL

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30

MILESTONE

YEARS

A tribute to our long-lasting enterprises

Wiring the globe from Spartanburg County Founded in 1984, AFL has expanded its fiber optic business to markets around the world JOE TOPPE | STAFF jtoppe@communityjournals.com

What began as a 50-man operation three decades ago off exit 63 in Duncan has grown into a multi-facility setup generating over $300 million annually and supporting more than 700 local jobs.

AFL, a manufacturer of fiber optic products for telecommunications, electric utility, cable television, and data center markets, has headquartered in Spartanburg County since the company was formed as a joint venture in 1984.

Alcoa, an American aluminum company, and Fujikura, an electrical

equipment manufacturer based in Tokyo, combined to create AFL. The company was originally designed to bring a single product to the marketplace, said Steve Althoff, AFL’s executive vice president and general manager. The product was called an optical ground wire, a cable used on an electric utilities transmission line, he said. The wire was used to ground the system.

“Basically, it was used to take lightning strikes,” Althoff said.

Fujikura had a technology that placed fiber optics inside the ground

➤ TIMELINE

1984

1988

Alcoa and Fujikura Ltd. form AFL as joint venture.

AFL accessories products, including bus conductors, support subway project for 1988 Olympics in Seoul, South Korea.

Ridgeview manufacturing site built in Duncan.

Photos Provided

22

cable and Alcoa had a 100-year presence in the electric utility industry, he said. The companies chose to combine their efforts as AFL in the Southeast, thanks to the strong workforce in place and multiple fiber optic companies in the region to form a strong supply base, he said.

Built in Duncan, AFL’s first Rid-

1985

UPSTATE BUSINESS JOURNAL

October 31, 2014

1991

IBM qualifies AFL as a supplier of connectorized optical cables.

USAC joins AFL family (this building is located in Duncan on USAC Drive and manu-factures Alumoweld).

1989

geview manufacturing site was completed in 1985. Today, there are five AFL locations in the greater Duncan area within a five-mile radius of one another. Of the five AFL sites, four are manufacturing facilities and one is an office building.

AFL has looked to expand its services and job base throughout the

1994

AFL achieves a major environmental milestone when AFL’s Spartanburg location replaces 1, 1, 1 Trichloroethane with water for the OPGW pipe process.

AFL acquires Superior Optics, a leader in all-dielectric self-supporting (ADSS) technology, allowing AFL to begin offering ADSS and premise cable.

1992

30

MILESTONE

YEARS

A tribute to our long-lasting enterprises

"While we are based in Spartanburg, our influence in fiber optics extends to locations around the world...We are proud of our heritage and believe we have a solid foundation to grow our business in both core and emerging markets.”

Jody Gallagher, president and CEO AFL

company’s tenure in the Upstate.

During the 1980s, the company brought an Alcoa manufacturing business down from New York, bringing in more jobs and more products, Athoff said. In 1992. AFL purchased a fiber optic cable business in Atlanta, which also moved to Spartanburg County.

Al Swanson, AFL’s vice president and general manager of Optical Connectivity and Apparatus, said AFL introduced the first optical connector of its type in the late 1980s.

By joining optical fibers together mechanically, the product has become one of the standards of the industry, he said. The connector enables pointto-point communication, allowing

the signal to go from one end of the system to the other.

Swanson said the company’s connectivity products have created high-level results in the global market.

AT&T, one of the largest telephone companies on Earth, built its international network by connecting with AFL’s connectors and fiber cable, he said. AFL products have been used in service provider networks around the world.

The telecommunications and Internet explosion helped propel the company to further heights during the 1990s, Althoff said.

“The decade saw us go from a sleepy $50 million business in 1991 to a company generating over $800

1996

AFL provides optical and electrical splicing of the Fujikura Ltd. cable used for broadcasting the 1996 Olympic Games in Atlanta.

The World Environment Center (WEC) awards AFL the WEC Gold Medal for International Corporate Environmental Achievement in recognition of the company’s performance in the areas of environmental policy and leadership.

1996

2000

2008

Ridgeview Admin building built to house administrative offices.

Hillside Business Park location opens to accommodate increased production for accessories division.

1996

million 10 years later,” he said. The Internet created additional demand for bandwidth as the phone companies and utility companies responded to the virtual market.

Althoff said in addition to the Internet, electric utility companies were getting into the telecommunication business. The companies would lease their lines and cables to phone companies and long-distance service providers, he said.

AFL expanded its business spectrum further in 1996, purchasing its first services company.

AFL’s services business now represents approximately 30 percent of the company’s total revenue, Althoff said.

AFL is recognized as one of South Carolina’s top-performing companies, employing over 500 in Spartanburg and 3,000 worldwide.

Using extensive experience in fiber optic technology, AFL expands to meet the unique needs of harsh environments including oil and gas.

2003

The Duncan manufacturer continued adding other services companies to grow its portfolio throughout the 1990s, he said. As the new century got underway, the company maintained its expansion momentum.

Currently, AFL has three locations in the United Kingdom, one in the services business and two in manufacturing. AFL also has operations in Germany, Romania, Australia, Mexico, the United States and Canada.

In 2001, Althoff said the Internet bubble burst and decreased the company’s revenue and business size.

There was too much supply and not enough demand, he said. The laws of economics caught up with the industry, but AFL survived by focusing on the customers viewed as long-term survivors, consolidating operations, and paring down a number of product lines.

Several years later, Althoff said an uptick in the market allowed AFL to begin investing in new technology and products.

Today, the sum of AFL is greater than $900 million and nearly 5,000 employees, he said. “We’re a very healthy company.”

2013

Hidden Lake location opens in Spartangreen Business Park to accommodate increased production for accessories division.

AFL welcomes Gov. Nikki Haley to celebrate the expansion of its accessories facility.

2012 October 31, 2014

UPSTATE BUSINESS JOURNAL

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SHERRY JACKSON | STAFF sjackson@communityjournals.com @SJackson_CJ

SQUARE FEET Real estate deals and developments across the region

Furman Paladins start season at new football complex Furman University’s new $8.8

the 2014 football season.

Designed by architects McMillan Pazdan Smith, the 44,000-square-

foot facility adjacent to the existing stadium includes a locker room and player lounge/study area as well as

coach’s offices, position and team meeting rooms, a sports medicine/ athletic training suite, team >>

Photos Provided.

million Pearce-Horton Football Complex was completed in time for

INITIATE PRECONSTRUCTION CONSTRUCTION MAINTENANCE

A Mavin will carefully and systematically orchestrate all the moving parts of the construction phase of your project; focusing on safety, quality and schedule.

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October 31, 2014

SHERRY JACKSON | STAFF sjackson@communityjournals.com @SJackson_CJ

SQUARE FEET Real estate deals and developments across the region

Gannett leases space in Taylors for distro facility Gannett Pacific Corporation, parent company of The Greenville News, has leased 107,000 square feet of industrial space in Hampton Park at 2819 Wade Hampton Blvd., in Taylors. The space will be a distribution center for Gannett.

Hampton Park is currently 85 percent leased and provides good highway access and warehouse space for a number of companies.

Brian Young and Kacie Jackson of Cushman & Wakefield | Thalhimer handled the lease negotiations for the landlord.

>> equipment/laundry room, and other support space.

“That’s the way Furman has always done things, in my opinion – with excellence. And when you look around, that’s what this building exemplifies,” Furman’s Head Football

Coach Bruce Fowler said during a recent tour of the building with MPS. The building also includes a stateof-the-art press level and a private suite/club level with catering amenities and exterior seating to view the game.

LISTED: St. Phillip Island

St. Phillip Island, off the coast of South Carolina in Beaufort County, has been listed for sale for $23.777 million.

The 4,680-acre private island has been owned by media mogul Ted Turner since 1979 and used as a family retreat. Turner has said that he and has family don’t use the retreat often enough and that’s why it is being sold.

The island includes a private boat dock, white sandy beaches and a 3,800-square-foot main house, which includes five bedrooms, five bathrooms and a screened porch. There is a separate caretaker’s house. The island is off the grid and has its own water tower, solar array and backup generator.

The island is only accessible via boat and the main house is accessed via a four-mile trail. Also, according to the listing, the property is protected under a conservation easement with The Nature Conservancy that protects the tidal marshes, natural habitats, ponds and wetlands. Only 10 additional residential dwellings are allowed to be built on the island.

To view the listing, visit plantationservicesinc.com/property-detail. cfm?property=158.

www.MAVINCONSTRUCTION.com

October 31, 2014

UPSTATE BUSINESS JOURNAL

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NEW TO THE STREET The freshest faces on the business landscape

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1. EnviroSouth recently expanded to 346 S. Pine Street, Spartanburg. The company provides environmental solutions for real estate and commercial transactions. Office hours are 8:30 a.m.-5:30 p.m.

For more information, visit envirosouth.com.

2. Carolina Acne Clinic recently opened a new location at 503 N. Main Street, Mauldin. The clinic is open Monday-Friday by appointment only. Hours are 9 a.m.-6 p.m. For more information, visit carolinaacneclinic.com or call 864-399-7926.

1

3. BK Hot Yoga Studio recently opened a new location at 106 W. Curtis Street, Simpsonville.

For more information and a class schedule, visit bkhotyoga.com.

October 31, 2014

UPSTATE BUSINESS JOURNAL

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FINE PRINT Business briefs you can’t miss

Whole Foods launches branding campaign Whole Foods Market launched its first-ever national branding campaign with a promotion that highlights Whole Foods Market’s quality standards, healthy offerings, and key milestones as a pioneer in the natural and organic food industry.

The campaign celebrates “our sheer love of food and the people who

produce it,” said a company spokesperson. “Most importantly, sharing the Whole Foods story will help Greenville shoppers make meaningful, conscious choices about what they decide to buy and support.”

Whole Foods is asking Greenville shoppers to share what’s important via an online survey at http://bit. ly/1t48Dt3 ​

Mitsubishi Polyester wins pollution prevention award

SCRA to construct dome for $1 billion project

Renewable Water Resources (ReWa) presented the 2014 Pollution Prevention award to Mitsubishi Polyester Film, Inc., for innovative pollution prevention initiatives.

“Mitsubishi Polyester Film is an abiding partner with ReWa in promoting a cleaner environment as evidenced in their excellent pretreatment compliance record,” said Joel Jones, ReWa Pretreatment Program manager.

ReWa presents the award to an industry in the upstate on an annual basis and winners are selected by a committee comprised of representatives from the Greater Greenville Chamber of Commerce and ReWa. Industries on the Pollution Prevention Recognition Program pursue ways of preventing pollution through waste minimization, water conservation, recycling, product reformulation and toxic materials substitution.

Construct, SCRA Applied R&D’s architectural structures affiliate, announced a contract with Layton Construction Company to install a Composite Dome at the Faena Arts Center in Miami Beach.

The Faena Arts Center is part of Argentinian developer Alan Faena’s $1 billion Faena Miami Beach project.The composite structure will be a self-supporting, monocoque design providing a light-weight alternative to cast-in-place concrete. The dome will include supports for stage lights, sound equipment and hoist points.

Construct General Manager David Humphries said in a release, “The beauty of elegant designs is brought to life with advanced materials that are strong, lightweight and aesthetically pleasing—offering incredible possibilities.”

Diamond companies join forces Scio Diamond Technology Corporation and Renaissance Diamonds Inc. have partnered together to develop and deliver high-quality, lab-grown diamonds to the gemstone and jewelry markets.

“Renaissance Diamonds has been a groundbreaker in the created jewel and diamond market for more than 20 years and is the ideal partner for Scio Diamond,” said Gerald McGuire, president and CEO of Scio.

Renaissance has developed an in-store distribution program that will launch in Q1 of 2015.

CBRE named leasing agent for Greenville News site Trammell Crow Company and Centennial American Properties have engaged CBRE as exclusive leasing agent for planned office space at the Greenville News site on Main Street in downtown Greenville.

The development’s current site plan outlines approximately 150,000 square feet of office space.

The space is scheduled to open in the fourth quarter of 2016, and the tract will be one of the largest land developments in downtown Greenville in the last ten years.

Greenville interior design firm wins Charleston project

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October 31, 2014

Linda McDougald Design | Postcard from Paris Home has been selected by East West Partners as the interior designer for The Tides IV condominiums, Charleston’s newest luxury residences. LS3P Associates is the project architect.

Managing partner of East West Partners, Miller Harper said McDougald’s statewide reputation tipped the choice in

her favor. “We knew we needed a firm with the design talent and capability to manage such a large scale project and the ability to do so at the highest levels and within a budget,” he said in a statement.

FINE PRINT Business briefs you can’t miss

Wake Forest ends daytime MBA program

Wake Forest University School of Business is ending its daytime MBA program.

Wake Forest will continue to offer MBA programs for working professionals in the evenings in Winston Salem and evenings and Saturdays in Charlotte.

“We will focus on developing a superior launching platform at the start of our graduates’ careers and offering flexible ways on evenings, weekends and through hybrid models for working professionals to continue their education and development,” Wake Forest University School of Business dean Charles Iacovou said in a release.

The change comes as more professionals are working toward degree without wanting to interrupt their careers.

GlucoSense researchers launch Accessible Diagnostics company The Clemson University researchers who created GlucoSense announce the launch of a new company: Accessible Diagnostics.

Doctoral student Kayla Gainey said, “Most of the research is done. We still need to do some final design changes to get to our final product. We’re hoping by the end of the next year that it could be ready to sell.”

GlucoSense strips can be produced with ink-jet printer components using enzymes instead of ink for roughly 5 cents each, compared to $1 each for commercially produced strips.

The strips were part of the bioengineering department’s initiative to help Tanzania.

Gainey will serve as chief technology officer of

Accessible Diagnostics. Dr. Delphine Dean, Clemson associate professor of bioengineering, is a co-founder of the company. Upstate backers John Warner and Brian McSharry committed to invest $500,000 through their company, Concepts to Companies, and will serve as executive leadership during start-up.

In addition, Gainey recently won $2,500 at the pitch contest at the recent SCBIO conference. She beat eight other competing companies.

“Gainey just wowed the judges with her technology.

It had that immediate click of the right technology and the right fit and was easy to understand,” said Becky DeLegge, chair of SCBIO and a judge on the panel.

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

ON THE MOVE Play-by-play of Upstate careers

HIRED

PROMOTED

PROMOTED

HIRED

BANKING

HIRED

Sharon Self

Cortney Newmans

Mac Carpenter

Will Teasdale

Teressa Currier

Named development manager for the Greenville office of Juvenile Diabetes Research Foundation.

Self has 18 years of experience in community development, fundraising and nonprofit management for a number of Greenville companies including Proterra, the law firm of Gallivan White and Boyd and the Greenville Chamber of Commerce.

Named business development director at Lima One Capital.

Newmans will oversee development in nine states and the District of Columbia. He will head sales operations as well as provide senior-level management to the business development teams. Newmans will also drive expansion efforts into new markets.

Named president of KBR Building Group.

Carpenter has been with KBR for 25 years.

He served as executive vice president for the past 10 years. He headed the design-build team that managed Boeing’s 787 South Carolina Expansion in North Charleston.

Named site manager at chemical-company BASF’s Seneca plant.

Teasdale has experience as a production manager and production engineer with Ciba before it was acquired

by BASF in 2009. Most recently, he served as the manager of the BASF site in St. Louis, Missouri.

Named vice president of capital markets at FinTrust Investment Advisors. Currier has over 30 years of institutional fixed income experience. She was previously with Morgan Keegan as vice president of fixed income capital markets.

She will provide clients trade execution, settlements and portfolio processing.

EDTS

Southern First Bancshares, Inc., hired Wade Shugart as executive vice president and senior lender for the Columbia market. Shugart has over 35 years of banking experience, most recently as regional vice president for Wells Fargo Bank, and has also held positions with The South Financial Group, Synovus Corporation (NBSC) and C & S National Bank.

DEVELOPMENT GreenWood, Inc., named Bob Gafner as maintenance site supervisor and Greg Hyatt as maintenance data analyst for the company’s aviation engine manufacturing project site in South Carolina. Gafner has 17 years of maintenance experience in the automotive and the food and beverage industries. Hyatt’s experience includes service with the United States Air Force in advanced electronics with additional

Southern First Bank

TD Bank

Anna T. Locke

BMW Manufacturing Co.

Greene, Finney & Horton LLP,

Anonymous

CPAs and Advisors

Ideal Business Solutions

Lynn and Brian Blackburn

South State Bank

Protocol, LLC

Thank you to our 2014 Eggs Benefit Sponsors G5 | Baker Roofing | Greenville Carpet Cleaning | Find Great People |SCI Electronics St. Mary’s Catholic Church | Berkshire Hathaway C. Dan Joyner | JAmes E. Woodside & Co. LLC | QuikTrip Upstate Coffee Services | Greenville Office Supply |The Spinx Company, Inc | United Chemical and Supply General Equipment and Supply | Wells Fargo Advantage Funds

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UPSTATE BUSINESS JOURNAL

October 31, 2014

ON THE MOVE Play-by-play of Upstate careers electronics engineering training from Greenville Technical College.

EDUCATION Denise Godwin was named secretary of the South Carolina Workers’ Compensation Educational Association. Godwin is the Workers’ Compensation Coordinator for Clemson University Office of Risk Management, where she has managed claims for the past six years.

She holds the Certified Workers’ Comp Counselor and the Certified Professional Insurance Woman designations.

Southern Wesleyan University named Anthony Payne as associate vice president for development in the Office of Advancement. Payne has experience in fund development, relationship building, management, special events and marketing. Most recently, Payne was executive director of the March of Dimes, Upstate South Carolina Division, where he oversaw the fundraising efforts for 10 Upstate counties with an annual fundraising budget of $2.5 million.

Clemson University’s Master of Real Estate Development (MRED) program

QUALITY

added Amy Clayton, Don Mabry and Matt Phillips to its Advancement Board for Real Estate Development. Clayton is a Commercial Real Estate Attorney at Nexsen Pruet. She practices in the areas of commercial real estate transactions, commercial finance, commercial leasing, commercial property tax appeals, business formations and general real estate and corporate law. Mabry is the senior vice president and chief development officer for Simpson Housing. His primary responsibility is overseeing the company’s in-house development operations across the country. Phillips is the vice president of real estate for The Hutton Company. He leads the team responsible for developing grocery anchored shopping centers.

Serita Acker, director of Clemson University’s Women in Science and Engineering (WISE) program, won the Women of Color magazine’s College-Level Promotion of Education award. Acker helps offer mentoring, networking, tutoring, professional development opportunities and a living-and-learning community for

VALUE

CLEMSON UNIVERSITY A TOP-20 NATIONAL PUBLIC UNIVERSITY

sophomore students. she also oversees several academic summer camps and outreach programs for students in the K-12 system.

Junior Achievement of Upstate SC announced the following 2014-2015 board members: Marty Bauer, managing director, accelerator, The Iron Yard; Karen Burgess, president, Brown Mackie College; John Farrall, sales manager, Louis P. Batson; Tami Finely, K-12 social studies academic specialist, Greenville County School District; Robert J. Hughes lll, urban development director, Hughes Development Corporation; Hank Hyatt, vice president, economic development, Greater Greenville Chamber of Commerce; and Tracy Kramer, professor and former dean, Graduate School of Business, North Greenville University.

IT EDTS hired Jeff Davis as a business technology advisor and Gregg Pothier as a network administrator. Davis has experience in sales, marketing, account management and network design. He

ROI

previously worked for Merit Technologies. Pothier has almost ten years of experience providing network management, virtualization, security and advanced infrastructure solutions to government, non-profit and health care organization. He is a Microsoft Certified Solutions Associate, Cisco Certified Network Associate and LabTech Certified Professional.

MARKETING/PR Infinity Marketing promoted Kayla Halchak and Jack Rogers to media coordinators and Kadie Zahnd to senior media buyer. Halchak has worked as an intern and media assistant with the company since 2013. She is responsible for maintenance on Infinity’s grocery team account. Rogers began as a media assistant seven months ago and will now manage the media placement and planning for the manufactured housing team. Zahnd began as a media buyer and now handles media planning and buying as well as overall account management for healthcare and television clients.

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In South Carolina, Clemson ranks: #1 IN BEST VALUE IN PUBLIC COLLEGES Kiplinger, 2014 Princeton Review, 2014 #1 IN RETURN ON INVESTMENT PayScale, 2014 Bloomberg Businessweek, 2012 SmartMoney, 2012 #1 IN STUDENT LIFE “Happiest Students” and “Town-Gown Relations,” Princeton Review, 2014 AND IT’S THE #1 CHOICE OF SOUTH CAROLINA’S BEST STUDENTS. A top-20 national public university — right here at home

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UPSTATE BUSINESS JOURNAL

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SOCIAL SNAPSHOT Inside the Upstate’s networking and social scene

SHORT PRESENTATIONS ABOUT THE FASTGROWING AEROSPACE SECTOR IN THE SOUTHEAST WERE GIVEN BY RANGER, BY THE SC DEPARTMENT OF COMMERCE, AND

BY NEWCAROLINA.ORG. Ranger Aerospace and Azalea Capital recently hosted an aerospacefocused gathering of Upstate business and civic leaders, as well as a number of private equity and venture capital investment institutions, at the Poinsett Club in Greenville. More than 180 people attended, including C-level executives and entrepreneurs, with a heavy portion from the aerospace and aviation community in this region.

South Carolina Department of Commerce sign at the aerospace gathering.

Charlie Farrell, aerospace task force director with the SC Department of Commerce, speaks to attendees of the aerospace gathering.

GENERATIONS GROUP HOMES Inaugural Fundraising Dinner Thursday, November 13, 2014 The Poinsett Club 7:00 pm

Keynote Speaker

Perry Tuttle Sponsorship opportunities and individual tickets are still available.

Please visit www.GenerationsGroup.com or call (864) 235-8330.

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UPSTATE BUSINESS JOURNAL

October 31, 2014

SOCIAL SNAPSHOT Inside the Upstate’s networking and social scene

Steve Townes, CEO and founder of Ranger Aerospace, makes some comments at the gathering.

Advancing Women’s Leadership and Corporate Board Service

November 4, 2014 4:00pm - 6:30pm TD Convention Center Registration $25 (Members) & $35 (Non-Members) www.GreenvilleChamber.org Contact Nika White at (864) 239.3727 nwhite@greenvillechamber.org

Keynote Speaker: Dr. Elizabeth Davis, President, Furman University

October 31, 2014

UPSTATE BUSINESS JOURNAL

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PLANNER Events you should have on your calendar

TUESDAY NOVEMBER 4 ATHENA LEADERSHIP SYMPOSIUM TD Convention Center; 4-6:30 p.m THEME: Advancing Women’s Leadership and Corporate Board Service Nominations now being accepted for ATHENA Organizational Leadership Awards.

FOR INFORMATION: bit.ly/athena-symposium

MINDFULNESS TRAINING TASTER SESSION WellSmart Solutions, 220 N. Main St., Suite 500,

Greenville; 5:30-7 p.m.

Free sample session for managers, leaders and human resource personnel from companies and healthcare organizations that are interested in bringing stress reduction training to their employees and staff.

REGISTER AT: wellsmartsolutions.com

WEDNESDAY NOVEMBER 5 DESIGNTHINKERS DESIGN TALK OpenWorks, 2 N. Main Street, Ste. 300, Greenville

How to better design ways to deliver products and services to customers TOPIC: Experience Design: Intentional Design of the Holistic Customer Experience COST: Free, includes lunch REGISTER: bit.ly/ designtalk11-5

THURSDAY NOVEMBER 6 MASTER CLASS IN M&A Poinsett Club, 807 E. Washington St.,

Greenville; 8 a.m.-6:45 p.m.

One-day class for leaders interested in growing their companies through mergers and acquisitions. Repeat program Wednesday Nov. 12.

COST: $1,000 REGISTER AT: watermarkinvestors.com

by Oct. 30 CREW LUNCHEON Poinsett Club, 807 E. Washington St., Greenville; 11:30 a.m.-1 p.m.

Luncheon and networking opportunity for commercial real estate women’s group.

COST: Members $18, non-members $25 REGISTER AT:

crewupstate.org/events

FRIDAY NOVEMBER 7 FIRST FRIDAY LUNCHEON Greer City Hall, 301 E. Poinsett St., Greer; 11:30 a.m.-1 p.m.

Economic update from S.C. Secretary of Commerce Bobby Hitt REGISTER: bit.ly/greerfirst-friday

WEDNESDAY NOVEMBER 12 DIVERSITY CONNECTIONS LUNCHEON CityRange Steakhouse

Grill, 774 Spartan Blvd., Spartanburg; noon-1:30 p.m.

Monthly dutch-treat luncheon coordinated by Spartanburg Chamber’s Diversity Committee.

REGISTER: bit.ly/spgdiversity IBRAINSTORM COMMUNITY MEETING Hughes Main Library, 25 Heritage Green Place, Greenville; 5-6:30 p.m.

Community involvement meeting to raise regional awareness and participation in iMAGINE Upstate REGISTER: imagineupstate.org

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UPSTATE BUSINESS JOURNAL

October 31, 2014

www.TPM.com

Historic photograph available from the Greenville Historical Society.​

SNAPSHOT A quick look into the Upstate’s past

From “Remembering Greenville: Photographs from the Coxe Collection,” by Jeffrey R. Willis

Cohen’s Department Store was opened in 1925 by Max, Jack and Eli Cohen.

Cohen’s was in a three-story brick building that originally had a hotel on the upper floors. Its slogan was “the Store of Better Values.” Cohen’s closed in 1937.

Its space on North Main Street was taken by Duke Power Company.

Today the building that was home to Cohen’s Department Store and later the Duke Power Company is gone. The Ivey Building constructed in the late ’40s occupies the site, as does part of the Hyatt Regency building.

Ivey’s department store moved to McAlister Square along with MyersArnold to be one the new mall’s anchor stores. In the 1990s the building was remodeled for shops on the street level and condominiums the upper level. Bertolo’s Pizza occupies one of the street-level shops.

GREG BECKNER / STAFF

MARKETING & EVENTS

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

NOVEMBER: PERSONAL FINANCE Saving and investing

Kate Madden

DIGITAL STRATEGIST PRESIDENT/CEO

ART & PRODUCTION

UBJ PUBLISHER

ART DIRECTOR Whitney Fincannon

Ryan L. Johnston rjohnston@communityjournals.com

OPERATIONS Holly Hardin

EXECUTIVE EDITOR

Kristy Adair, Michael Allen

MANAGING EDITOR

CLIENT SERVICES Anita Harley, Jane Rogers

HOW TO CONTRIBUTE

SENIOR BUSINESS WRITER

STORY IDEAS:

Jennifer Oladipo

ideas@upstatebusinessjournal.com

STAFF WRITERS

EVENTS:

Sherry Jackson, Benjamin Jeffers, Cindy Landrum, April A. Morris, Joe Toppe

events@upstatebusinessjournal.com

PHOTOGRAPHER Greg Beckner

onthemove@upstatebusinessjournal.com

SALES REPRESENTATIVES Kristi Jennings, Donna Johnston, Annie Langston, Lindsay Oehman, Pam Putman, Maddy Varin, Emily Yepes

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

1988

1997 Jackson Dawson launches motorsports Division 1993

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

>>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

>>

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

1998 1998 Jackson Dawson moves to task industrial Court

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

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

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

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

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

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

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

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

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

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

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

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

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

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

DECEMBER: ENERGY What does S.C. need for the future?

Hidden Treasure Christian School

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

November 1, 2013 Upstate bUsiness joUrnal 21

20 Upstate bUsiness joUrnal November 1, 2013

AS SEEN IN

NOVEMBER 1, 2013

ADVERTISING DESIGN

Jerry Salley jsalley@communityjournals.com

MARKETING & ADVERTISING

UBJ milestone

Emily Price

Mark B. Johnston mjohnston@communityjournals.com

Susan Clary Simmons ssimmons@communityjournals.com

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

UBJ milestone

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

DIGITAL AND SOCIAL MEDIA TWITTER: Follow us @UpstateBiz FACEBOOK: TheUpstateBusinessJournal LINKEDIN: Upstate Business Journal

NEW HIRES, PROMOTIONS, AND AWARDS: UBJ welcomes expert commentary from business leaders on timely news topics related to their specialties.

Guest columns run 700-800 words.

Contact Executive Editor Susan Clary Simmons at ssimmons@communityjournals.com to submit an article for consideration.

u UP NEXT

publishers of

DECEMBER: LEADERSHIP Who’s building leaders in the community? What are questions leaders should never ask? What can we learn from the military, football coaches and university presidents?

Got any thoughts? Care to contribute? Let us know at ideas@upstatebusinessjournal.com.

Copyright @2014 BY COMMUNITY JOURNALS LLC. All rights reserved. Upstate Business Journal is published weekly by Community Journals LLC. P.O. Box 2266, Greenville, South Carolina, 29602.

Upstate Business Journal is a free publication. Annual subscriptions (52 issues) can be purchased for $50. Postmaster: Send address changes to Upstate Business, P.O. Box 2266, Greenville, SC 29602.

Printed in the USA.

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

October 31, 2014

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