JANUARY 29, 2016 | VOL. 5 ISSUE 5
COMMERCIAL REAL ESTATE QUARTERLY ISSUE
GLOBAL
CLOSER How commercial real estate CEO Elizabeth Belenchia brought 27 countries to the Upstate - p. 14
PLUS Industrial, office and retail market reports … p. 12 The future of industrial real estate … p. 13
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INFORMATION YOU WANT TO KNOW
| MANUFACTURING | 3
Clemson awarded $1M grant for U.S. textile research ASHLEY BONCIMINO | STAFF
aboncimino@communityjournals.com The Walmart Foundation and the U.S. Conference of Mayors awarded Clemson University nearly $1 million for a project aimed at creating new textile manufacturing technologies and reducing the cost of producing goods in the U.S. Clemson’s research project will focus on reducing energy and liquid waste in the dyeing of polyester fabrics, and was one of five grants totaling $2.84 million from the U.S. Manufacturing Innovation Fund. The fund was formed to provide a total of $10 million in grants over the course of five years, and aims to advance the production or assembly of consumer products in the U.S. This is the second round of grants awarded by Walmart and the Walmart Foundation, with the first round announced in 2014. Clemson researchers Dr. Christine Cole and Dr. Phil Brown will lead the project, and plan to partner with fiber technology firm Hills Inc., advanced performance fabrics firm Burlington Worldwide,
and textile manufacturer Mount Vernon Mills, according to the university. “The expertise of our team of Clemson researchers bears great promise for breakthroughs in the polyester dyeing process and commercial dyeing technologies,” said Clemson University College of Engineering and Science Dean Anand Gramopadhye in a news brief. “We look forward to the outcomes of this project and the significant collaborative opportunities with industry partners in our region.” Other 2016 grantees included Oregon State University; University of Texas at Austin; North Carolina State University and Cornell University. The fund awarded seven grants in 2014 totaling $4 million to Georgia Tech Research Corp.; Indiana University-Purdue University at Indianapolis; North Carolina State University College of Textiles; Oregon State University; Texas Tech University; University of Texas at Arlington and University of Georgia Research Foundation. “Through these grants we hope to help remove the barriers to revitalizing and growing U.S. apparel manufacturing while creating more sustainable production processes,” said Kathleen McLaughlin, president of the Walmart Foundation and chief sustainability officer for Walmart. “The U.S. Manufacturing Innovation Fund is part of Walmart and the Walmart Foundation’s broader commitment to
$2.84 MILLION Grants awarded by the U.S. Manufacturing Innovation Fund to five universities for their work focused on innovations in textile manufacturing
foster new economic growth and opportunity and create stronger communities.” Grant proposals needed sponsorship from the mayor of a U.S. Conference of Mayors member city, and were chosen for their ability to reduce the cost of textiles manufacturing in the U.S. by addressing production obstacles and improving common manufacturing processes that could be applied to many types of consumer products. “Now home to large global manufacturing and advanced industry firms, Greenville has carved out a competitive position in the global economy and, through our relationship with Clemson University, the Walmart Foundation and the U.S. Conference of Mayors, Greenville continues to deploy effective economic and community development strategies that facilitate investment and job growth from both new and existing companies,” stated Greenville Mayor Knox White.
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4 | THE RUNDOWN |
TOP-OF-MIND AND IN THE MIX THIS WEEK
UBJ
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01.29.2016
VOLUME 5, ISSUE 5 Featured this issue:
Photo provided
Recap: January Greenville Planning Commission meeting 8 CRE quarterly marketing reports 12 What private equity investors are looking for 16
MONEY SHOT: A meeting and event space at the new Aloft Greenville Downtown Hotel, which celebrated its grand opening last week. See photos of the opening reception on page 23.
WORTH REPEATING “If they don’t like what the school board is doing, they should get rid of the school board.” Page 8 “If I wasn’t strong enough to do what I had to do, I would have been gone long ago.” Page 14 “Being an entrepreneur is not as sexy as it appears on the surface.” Page 17
TBA
VERBATIM
On the New Greenville Look for a new deli named GB&D coming soon in the Village of West Greenville.
“With a growing food scene, a creative DIY spirit and a serious cycling culture, this once-sleepy Southern town has reinvented itself as an exciting destination.” New York magazine, featuring Greenville as a “Weekend Escape.” Read the full article at bit.ly/NY-magazine-Greenville.
01.29.2016
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INFORMATION YOU WANT TO KNOW
upstatebusinessjournal.com
| FOOD & BEVERAGE | 5
Brazwell’s Pub now open in downtown Greenville SHERRY JACKSON | STAFF
sjackson@communityjournals.com Brazwell’s Premium Pub opened this week in
104 S. Hudson Street
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Greenville, SC
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29601
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864.561.4031
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info@parkplaceonhudson.com
as wings, nachos and fried pickles along with burgers, salads and other specialties. A weekday blue plate special for $9, including beverage, consists of down-home favorites such as country fried chicken, meatloaf and fish and chips. Shrimp and grits are a customer favorite, says Julius Tolbert, general manager of the Greenville location. Tolbert has owned and operated other Upstate restaurants, including Cornbread to Caviar in Spartanburg, which closed during the recession. Chef Beverly Margolis created the full-service menu. Brazwell’s pays attention to quality, freshness and presentation of its food. “We’re a little more upscale. We want to be a restaurant and bar, not a bar and restaurant,” said Tolbert.
Photos by Sherry Jackson
www.parkplaceonhudson.com
the space formerly occupied by Ford’s Oyster & Cajun Kitchen at 631 S. Main St. in downtown Greenville. The new sports bar and pub is The Bottle Cap Group’s first foray into the Greenville market. The North Carolina restaurant management company has several restaurants under its umbrella, most in the Charlotte area. Two additional restaurants by the group are also under construction. Ink n Ivy, a bar, rooftop bar, restaurant and “ultra-lounge” serving “classic American food but with an edgy twist” will be located in the former Corner Pocket space on Coffee Street and is expected to open in late spring. Diner 24 (formerly named Butch’s Diner) will be Greenville’s first 24-hour diner with ’50s-style décor, jukeboxes on the tables and sparkly booths in the former Charlie’s Steakhouse location, also on Coffee Street. Diner 24 is expected to open in late summer. Brazwell’s Premium Pub was established in 1969 and has two existing locations in Charlotte. The Greenville restaurant sports a revamped space with an “industrial-meets-comfy-pub” feel. More than 20 televisions ensure that customers will never miss a game, and the menu features traditional items such
An upstairs loft area is also being renovated and will be available for parties and special events. For more information and hours, brazwellspub.com.
xperience in old Greenville. ience in Greenville’s coveted West End District? A place at once steeped in the
thoroughly forward-thinking in its conception and vision for the future. A place
s storied downtown setting, and also points the way to a dynamic, one-of-kind-
best of both worlds: a rich heritage and a modern living experience, all bound
igned, original townhomes.
A new living experience in old Greenville. GRANITE COUNTERTOPS | HARDWOOD FLOORS | GARAGE PARKING NEARBY PARKS & RECREATION | OUTDOOR LIVING SPACE | KROC CENTER MEMBERSHIP
www.parkplaceonhudson.com 104 S. Hudson Street | Greenville, SC | 29601 864.561.4031 | info@parkplaceonhudson.com
What if there was a vibrant, new living experience in Greenville’s coveted West End District? A place at once steeped in the history and charm of old Greenville, and yet thoroughly forward-thinking its conception and vision for the future. A place that celebrates all that has come before in this storied downtown setting, and also points the way to a dynamic, one-of-a-kind-lifestyle that’s altogether unique. This is the best of both worlds: a rich heritage and a modern living experience, all bound together by a collection of 24 thoughtfully designed, original townhomes.
Renderings and Plans presented are illustrative and shall be used for general information purposes only. Actual layout, room dimensions, window sizes and locations and steps to grade vary per plan and are subject to modification without notice.
6 | EVENTS |
UBJ
INFORMATION YOU WANT TO KNOW
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01.29.2016
Fortune editor Geoff Colvin to keynote TATT summit
Simpsonville’s Best Kept Secret
at many conferences around the world, giving leaders insight Fortune magazine’s senior on complex issues and editor-at-large, Geoff Colvin, will strategies that help be the keynote speaker at this them understand what year’s Upstate Regional Summit the future may hold. hosted by Ten at the Top. The 2016 Upstate Colvin is an award-winning Colvin Regional Summit will author, broadcaster and speaker build and expand on with knowledge in the most significant ideas shared during the 2014 “Rechecktrends and issues impacting business ing Our Reality” summit. The event and the economy. will focus on “Creating a Leading His weekly newsletter, regular Region” and will give community and column and cover stories in Fortune business leaders the opportunity to magazine, best-selling books and daily discuss how to work together towards broadcasts on the CBS Radio Network the enhancement of economic vitality have earned him millions of admirers, and quality of life for Upstate residents. according to a release. Colvin is also considered one of ENGAGE journalism’s most respected commentators on topics such as corporate Ten at the Top SEP governance, competition, the Regional Summit economy, the infotech revolution and TD Center, Greenville human performance. tenatthetop.org As a keynote speaker, he has spoken LETY GOOD | STAFF
lgood@communityjournals.com
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SHERRY JACKSON | STAFF
FRONT ROW
UBJ
REAL ESTATE DEALS AND DEVELOPMENTS ACROSS THE REGION
sjackson@communityjournals.com |
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01.29.2016
@SJackson_CJ
Greenville Planning Commission, January meeting
The first Greenville Planning Commission meeting of the new year saw a pretty full house with several items on the agenda and a bevy of neighbors anxiously waiting to provide input into several new projects across town. A new subdivision proposed on Nichol Street to divide one 1.507-acre lot into five lots was postponed until the February meeting. PERRY AVENUE PARKING LOT Next up was an application by the city to rezone 0.39 acres at Perry Avenue and Branwood Street from RM-1, single-family and multifamily district, to RDV, redevelopment district. The PC approved the application to be forwarded on to City Council. This will pave the way (pun intended) for the city to create a parking lot in the Village of West Greenville on the vacant site where City Hall once stood. The new parking lot will provide safe and convenient parking, said city officials. TINDAL AVENUE SUGGESTED PRESERVATION OVERLAY DISTRICT The city presented this application to create a new preservation overlay district for Tindal Avenue. Last year, the Greenville County School District, which owns the Tindal Park property, listed the surplus parcel for sale, which prompted a Save Tindal Park campaign by area residents. After meetings held with the neighborhood, city officials determined Tindal Avenue residents might benefit from designating the street a historic district, which carries additional restrictions on what can be done with existing property and structures. The 2.88 acres of the park property are part of the city’s Haynie-Sirrine Master Plan Redevelopment Area, which is a planned development. The parcel on Tindal is located in a “neighborhood edge zone,” which generally allows single-family homes and duplexes with maximum heights of two-and-a-half stories. Tindal Avenue residents were divided on the issue, at about a 50/50 split, and voiced multiple concerns at the PC meeting. Several spoke in favor of establishing an overlay district, saying the community would “benefit from increased standards.” Other residents said that while they certainly don’t want to see an apartment complex on that property, they do not want to have to adhere to additional restrictions on their own property, like not being able to change to modern materials including window types or siding. “While Tindal Avenue is nice, that doesn’t make it historic,” one resident said. After discussion, the PC board voted against creating the new district, saying it would have “put something into place that had very long-lasting effects.” The decision might also have been different if the area was truly historic and had been sought for that purpose, rather than purely to keep something from happening, said one PC board member: “To use this as a tool to solve a problem – that’s concerning.”
Rendering for the multifamily development at 420 Grove Road
“If they don’t like what the school board is doing, they should get rid of the school board,” said another board member. MULTIFAMILY DEVELOPMENT AT 420 GROVE ROAD Next up was a request for a new multifamily development on Grove Road. The applicant, Peter Bouharoun, wants to create two new buildings with three townhomes on the 0.20-acre lot, which currently has one single-family home. Changes had been made to the initial design based on feedback from the Design Review Board, which saw the application in its January 2016 meeting. Parking was redesigned and front steps were added to “appear more residential.” Bouharoun told the PC board that he envisions the townhomes as highend rental property for student housing for the new proposed teaching hospital. No one spoke either in favor or opposition. The application was approved. MULTIFAMILY DEVELOPMENT ON WADE HAMPTON BLVD. This application from Shouse Development was for a 61-unit, three-story townhouse development called Highview Townes on five acres at Wade Hampton Boulevard and Brookside Circle. Shouse said he is developing the site for townhomes and affordable housing close to the urban core. That prompted a lot of discussion about what exactly is affordable housing. In this case, sale prices are expected to be in the $250,000 to $350,000 range, and units will range from 1,800-2,100 square feet.
Potential access to the new townhomes also prompted much discussion. Several people spoke in opposition to the project, most citing concerns about traffic along Gilfillin Drive. The road is narrow with deep gullies on both sides and could be an impediment for emergency vehicles, said a spokesperson for the nearby Vista Hills subdivision. One board member said the project is a “significant improvement to what’s been proposed before. It might not be perfect but it’s not a perfect world.” The application was approved. NORTHPOINTE The application from Central Realty to rezone the 9.32 acres at Wade Hampton Boulevard, Stone Avenue and Column Street into a Planned Development District was technically postponed to the February meeting, but the PC board wanted to take public comment. >>
Site plan for multifamily development on Wade Hampton Boulevard
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upstatebusinessjournal.com
REAL ESTATE DEALS AND DEVELOPMENTS ACROSS THE REGION
SHERRY JACKSON | STAFF
sjackson@communityjournals.com |
>> Mostly the PC reviewed and echoed the comments from the DRB meeting, which suggested that developer Central Realty redo the design on the rear of the Harris Teeter grocery store, improve the entrances and overall make the buildings “more elegant and not as monolithic.” One resident said she is opposed to the closing of Column Street and is concerned the increase in traffic along Stone Avenue will add more than 1,000 vehicles each day. Another resident who lives on Earle Street said he was concerned about the increase in noise from both the new development and the increased traffic. He would like to Rendering for a new dentist office at Renaissance Place on Pleasantburg Drive see a noise study completed. City staff said traffic studies have RENAISSANCE PLACE ON been completed and while it’s hard to compare exPLEASANTBURG DRIVE isting road conditions to the new road configuration, This project also went before the DRB earlier this the overall traffic impacts are acceptable within the month, which gave its blessing to move forward. ordinance. The board agreed to table the application Already zoned as a planned development, the appliuntil the February meeting. cation is to modify the PD so applicant Betsch Asso-
GOOD RESOLUTION Strategy Vision
FOCUS
The new year is a great time to reassess your company’s vision to make sure your goals are clear. At Colliers, we take a wide-angle approach to how your real estate impacts your business needs, helping you see the big picture and plan accordingly. Allow us to put everything into focus.
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ciates can move forward on building a new dentist office on the site. Previous plans for the 5.2 acres had once included a Goodwill store, condos, restaurant pad sites and a future 5,400-square-foot office building. The entire planned development is still for sale, and while there have been inquires, the only piece being constructed right now is the dental office, said a spokesperson. Given the limited scope and the planned development already in place, the application seems straightforward, said the PC board, which approved the application. The last item was some housekeeping for the PC. Board member Kelli Wilder is resigning from the board and City Council is currently interviewing to replace her. Also, the board appointed the chair and vice chair – Matt Johnson stays as chair with David Keller as vice chair.
10 | SQUARE FEET |
UBJ
REAL ESTATE DEALS AND DEVELOPMENTS ACROSS THE REGION
SHERRY JACKSON | STAFF
sjackson@communityjournals.com |
Greenville Country Club plans clubhouse
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01.29.2016
@SJackson_CJ
See a video model of the new clubhouse at bit.ly/GCC-3D.
Construction has begun on a 44,000-square-foot clubhouse at the Greenville Country Club. This will be the club’s fourth clubhouse in its 100-plus year history, replacing the current one built in 1954. The previous clubhouse was demolished in the fall, and the new clubhouse will be built on the same site at 239 Byrd Blvd. The two-story Southern-style clubhouse will include banquet and meeting facilities, a pub, dining areas, locker rooms, fitness facility and a pro shop for the Riverside golf course as well as outdoor and terrace spaces. “This is a historic time for our club,” said Chris Riley, president of the Greenville Country Club. “Last year we added 100 new members, so there has never been a better time to begin this project. The club is evolving and growing with the Greenville community. When the clubhouse is completed, GCC will offer an unmatched private club experience in the Upstate.” The Greenville Country Club was founded in 1905 and features two championship 18-hole golf courses: Chanticleer, designed by Robert Trent Jones Sr., and Riverside, originally designed by William B. Langford and recently redesigned by Brian Silva. Members also enjoy 17 lighted tennis courts, a wide array of dining facilities, social activities and a family-friendly three-pool facility. The new clubhouse is expected to be completed in early 2017.
PROJECT PARTNERS GENERAL CONTRACTOR: Harper Corp ARCHITECT: Chambers Group
HISTORY OF GREENVILLE COUNTRY CLUB CLUBHOUSES 1905 – San Souci Clubhouse: A group known as the Piney Mountain Pioneers leased the San Souci mansion and acreage of the former provisional governor Benjamin Franklin Perry just north of Greenville. The ornate, three-story mansion built in 1877 became the first clubhouse of what is now Greenville Country Club.
Sutera Suteraisisaasemi-underground semi-undergroundwaste waste and and recycling recyclingcollection collectionsystem systemthat thatisisaa clean, clean, safeand andeconomically-friendly economically-friendlyalternative alternative safe totraditional traditionaldumpsters dumpsters to
1923 – Byrd Boulevard I:
Greenville Country Club’s second clubhouse opened on July 4. The clubhouse front-faced Byrd Boulevard in the area where today’s tennis courts reside.
1954 – Byrd Boulevard II: On July 4, 1954, the third clubhouse was opened, the second one that was built on Byrd Boulevard. The 19,000-square-foot complex included a new pool facility. Following a series of renovations and upgrades, the complex nearly doubled in size. It was torn down in the fall of 2015 to make way for the club’s fourth clubhouse.
01.29.2016
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REAL ESTATE DEALS AND DEVELOPMENTS ACROSS THE REGION
upstatebusinessjournal.com
SHERRY JACKSON | STAFF sjackson@communityjournals.com |
@SJackson_CJ
Garden, local art planned for Pendleton Street Spinx A community garden and signage
denied the company’s rezoning request for the property. Once renovated, the Spinx store will have a 0.2-acre community garden, in partnership with the Feed & Seed organization. A sign on the property, designed by West Village artists, will designate the entrance to the Arts District. Renovation of the Spinx station could begin soon, but a definite date has not yet been established. It will be a four- to five-month project once it begins, and the existing station will be closed while it gets rebuilt, said a spokesperson.
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by local artists doesn’t sound like a traditional gas station, but the renovated Spinx at the corner of Pendleton and Academy streets in the Village of West Greenville will include those elements along with a revitalized building. The Pendleton Street store will be similar to a Spinx store the company proposed in 2011 at another gateway to Greenville, on Buncombe Street at the old Gene’s Restaurant property adjacent to the Hampton-Pinckney neighborhood. Spinx abandoned the plans for that store after City Council
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St Francis Hospital
Beach Foster, AIF® Managing Director, Investments
Pat Fitzsimmons, AIF® First Vice President, Investments
Matthew Foster, AAMS® Financial Advisor
Karen Alexander Sales Associate
Visit us at www.fosterfitzsimmons.com to learn more. Or call 864.289.2166. 112 Haywood Road, Greenville, SC 29607 ©2014 Raymond James & Associates, Inc., member New York Stock Exchange/SIPC Raymond James is a registered trademark of Raymond James Financial, Inc.
12 | COVER |
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FOCUS ON COMMERCIAL REAL ESTATE
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01.29.2016
CRE quarterly market reports Analysis derived from fourth-quarter 2015 market reports supplied by CBC Caine, CBRE, Colliers, Lee & Associates, NAI Earle Furman and Cushman & Wakefield | Thalhimer. SHERRY JACKSON | STAFF | sjackson@communityjournals.com
Industrial
Office
Retail
SUMMARY
SUMMARY
SUMMARY As manufacturing continues to dominate the Upstate market, industrial space remains strong. Approximately 7 million square feet of industrial space is currently under construction. Several speculative buildings were delivered in 2015 and pad sites were developed, paving the way for more to come in 2016. South Carolina had the highest level of industrial construction in the Southeast in 2015. Overall vacancy remained somewhat steady in the fourth quarter at roughly 7.5 percent and net absorption was 919,276 square feet, according to most reports. Asking rents were averaging $3.62 per square foot in the fourth quarter.
OUTLOOK Expect to see new speculative projects in 2016. The SC Inland Port and its possible expansion will continue to attract distribution centers to the Upstate.
OVERALL VACANCY RATES (%)
Asking rates, especially in the downtown Greenville CBD, continue to rise, with prices in the mid-$20s per square foot for Class A space. At the end of 2015, total vacancy came in around 16.5 percent, down from 17 percent reported in 2014. That brings us to a record low vacancy rate of 12.2 percent. Office developers continued to compete with hotel and multifamily developers for sites and are paying top dollar.
OUTLOOK The Upstate continues to attract out-of-state investors, especially in the office market. Expect several large towers downtown to change hands in 2016, including Liberty Towers, Wells Fargo and SunTrust. Bank of America is already on the market and offers are coming in. With less Class A space available (even with new projects such as EP3, Falls Park Place and others), expect to see increasing rental rates and possibly some speculative office construction along with buildto-suit and adaptive reuse projects.
Net Absorption
Vacancy
Availability
300
Vacancy rates declined slightly from the previous quarter, coming in around 6 percent for the fourth quarter. Average asking rentals rates are around $10.20 per square foot and net absorption continues to increase.
OUTLOOK In 2016, expect to see vacancy continue to decline and rental rates climb. Downtown Greenville, Woodruff Road and Pelham Road corridors should remain strong for retail.
RETAIL VACANCY RATE 6.8%
TOTAL MARKET VACANCY, AVAILABILITY AND NET ABSORPTION
8.5%
Grocery stores continued to dominate the retail market, with several new Walmart Neighborhood Markets and ALDI stores constructed in the fourth quarter of 2015. This is expected to continue in 2016 with Harris Teeter, Lowes and Lidl all entering the Upstate market for the first time.
6.6%
20%
8.0% 6.4%
Source: Lee & Associates, Retail Market Report Greenville-Spartanburg, SC Q42015
4Q15
5.6%
3Q15
Source: CBRE Research, Q4 2015
5.8%
2Q15
Source: NAI Earle Furman, Upstate, SC 4Q15 Industrial Market Report
12%
6.0%
1Q15
(100)
4Q15
3Q15
2Q15
6.5%
14%
6.2%
4Q14
4Q15
3Q15
2Q15
1Q15
4Q14
3Q14
0
16%
1Q15
7.0%
100
4Q14
7.5%
18%
Vacancy/Availabilty
Absorption (SF, 000s)
200
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FOCUS ON COMMERCIAL REAL ESTATE
| COVER | 13
The future of industrial real estate By BRIAN YOUNG Senior Vice President, Managing Broker, Cushman & Wakefield | Thalhimer
The industrial building has seen significant changes over the past 15-20 years. Gone are the days of dimly lit production facilities with dirty floors filled with smoke and dust. Modern industrial facilities are clean and well lighted, and have a lot of human comforts like cafeterias, air conditioning and fitness centers. In some markets where there is a real challenge to find developable land, developers have even turned to building multistory industrial facilities complete with parking decks and multiple-story loading for trucks. We haven’t seen this yet in Greenville/ Spartanburg; however, the industrial building of the future will look much different from those in the past. Greenville/Spartanburg has seen an expansion for both manufacturing and warehouse buildings. Decades ago, a manufacturing facility may have had hundreds of people on multiple shifts working on a production line. Today, manufacturing facilities can look more like research labs, with spotless floors, robotic arms and workers in white lab coats who watch computer screens and look for patterns in the production line. Old facilities might have ceilings of 14 or 16 feet; modern facilities have ceiling heights more like a basketball court at 32 or even 40 feet high. Greenville/Spartanburg has seen a tremendous influx of new modern
building construction over the past two years. Currently, there are about 7 million square feet of warehouse, distribution and manufacturing space under construction. Most of these facilities are designed to allow for tremendous flexibility and human comfort. Motion-sensitive lighting turns on and off when it senses movement, like that of a person walking. The HVAC systems allow for cross-ventilation, pulling air through the building but controlling humidity – and on cooler days, the system can even work in reverse to pull in outside air. Floors are clean and coated, which makes them easier to keep clean and swept. Many facilities also offer fitness centers and showers on site to provide employees access during lunch or early mornings. Another difference in recent years is the size of many new facilities. In the past six years several 1 million-plussquare-foot distribution centers have been constructed for household names like Adidas, Amazon, Rite Aid, Dollar Tree and TTI (Ryobi). These facilities typically have 40-foot ceiling clear height and have substantial mezzanine areas that allow for smaller pick-andpack operations. These facilities are also extremely automated from their forklifts to conveyors making access to product stored on shelves more easily accessible. A decade ago, only a couple of centers this size existed in the entire market; currently four are under construction. Greenville/Spartanburg is currently experiencing a renaissance. Certain-
THEN Decades ago, a manufacturing facility may have had hundreds of people on multiple shifts working on a production line. Today, manufacturing facilities can look more like research labs. ly BMW, Michelin and GE have been substantial drivers of space needs and employment over the past 25 to 30 years. However, we are seeing many other industries enter the market to take advantage of the labor force, access to large population centers and access
to the Inland Port. Industries include plastics, non-woven textiles, carbon fibers, auto part assembly, pharmaceuticals, online retail and even the production of kayaks. The market is poised for major growth opportunities for the next 25 years and beyond.
ethics BUSINESS ETHICS CLASS Beginning Wednesday, February 3, 2016 Join Malcolm Isley from BSUMC and the Greenville Health System, for a four-week study on Christian business ethics.
NOW
The class begins at 6:15 PM. Dinner is available before the class beginning at 5:15 PM. www.bsumc.info/business-ethics-course-offered
Buncombe Street United Methodist Church To Be and To Make Disciples of Christ
Call (864) 232-7341 for additional information. 1/4-page_Friday, 1.29.16
14 | COVER |
FOCUS ON COMMERCIAL REAL ESTATE
A ‘child of the world’ In 40 years as a CRE mogul, Elizabeth Belenchia’s vision has grown to circle the globe
sjackson@communityjournals.com After 40 years owning her own commercial real estate business in Spartanburg, Elizabeth Belenchia has learned a few things: The former registered nurse says she has a knack for project management, a keen eye focused on the bottom line and an acute interest in cultural geography. She has built her CRE company, Carroll Properties, into far more than just selling industrial real estate. She has brought businesses from 27 countries into South Carolina. Her client list includes Tyco Electronics, Safety Kleen, Somet, International Paper, Dana Corporation, Mermet Weaving, Hess America, McDonalds, Loves Travel Centers, UPS, Comfort Inn, National Products Corporation, Goodyear, Coca Cola and Clearwater LLC. Belenchia describes herself as a passionate and visionary “child of the world,” and focuses the majority of her time on global issues such as sustainable economic development. She wrote and managed South Carolina’s first EPA Brownfield pilot in Cowpens and was the first woman in the world to be designated a Certified Commercial Investment Member/Society of Industrial and Office Realtors (CCIM/SIOR). In 2015 she was named a Woman of Influence by the Real Estate Forum. She serves on several boards, including a current stint as vice president of the legislation and environment committee for The International Real Estate Federation (FIABCI), an NGO of the United Nations, which takes her across the world to discuss real estate-related issues. UBJ sat down with Belenchia to learn about what she does, how it all works and what she is most passionate about.
You were a registered nurse. How did you decide on a career change to commercial real estate? I wanted a career change. At the time, I had four small children and was a single mom. At first I was diverted into residential real estate for the first five years in three different states. Frankly, I was told that women couldn’t do commercial real estate, but after managing three residential firms I realized that I really enjoyed the firing line, not management. I had an instinct for business and that’s what made me see the value proposition in commercial real estate. I took some of the first CCIM classes that were offered in the country. Early on, I gleaned those skills and earned that designation since I was living in a relativity rural and obscure area of the U.S. [Belenchia lives in Spartanburg]. What I found attractive from the beginning is that commercial real estate is the core of internationalism. As a cultural geographer, a personal passion, it made me interested in other people’s cultures, their geography, imports/exports and how trade worked. I had a natural affinity towards that kind of thinking needed. What are the most important skills your company offers over others? Keeping the timing and the budget. That’s the area still today that sets me apart from others. As an RN, you have to be on budget and on time; you don’t have the flexibility to not be. It’s also helpful when dealing with international clients whose travel time is time-critical. They need that delivery, and it was just innate with me. It’s something I expected of myself and not just an expectation from my clients. How did you decide to focus on industrial commercial real estate? It was the market that was here
>>
“If I wasn’t strong enough to do what I had to do, I would have been gone long ago.” Photo by William Crooks
SHERRY JACKSON | STAFF
01.29.2016
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upstatebusinessjournal.com
>> and that was available at the time. It was the market that also sort of sought me out. In the 1980s we didn’t have the Internet and there wasn’t the opportunity to do international advertising from a small company in Spartanburg. So my advertising was to give people 150 percent service, and they in turn would refer others to me. Over 50 percent of my work today is consulting, mostly focused on site consulting to find the right site or location for a business and then walking them through that whole process. You’ve mentored a lot of young people. Why, and what do you get out of it? I just have a knack for it. I’ve had approximately 160 interns over the years with a lot from other countries. I learned from them and was able to share my ideas with them. I like the way young people think. I found so many of them don’t have a handle on their own unique ability and talent. I’m a Kolbe certified consultant and a strategic coach. One of the main things I try to teach is that nobody ever developed a good weakness, and no one should ever spend any time trying to improve a weakness. I share the story about the duck and the rabbit. A rabbit instinctively knows how to hop. A duck instinctively knows how to swim. But the rabbit decided he wanted to crosstrain and learn how to swim, so the duck said “okay.” They spent six weeks training each other. After six weeks, the rabbit still couldn’t swim and the duck still couldn’t hop. And what they found was that the rabbit couldn’t hop as well and the duck couldn’t swim as well, as they’d been spending time on their weakness. Eighty-five percent of multinational corporations believe people should cross-train, which means we lose productivity. I’m helping people discover that a rabbit is never going to swim, and that’s okay. You’ve owned your own business for 40 years and you’ve been independent the whole time. Do you think that’s helped you? If I wasn’t strong enough to do what I had to do, I would have been gone long ago. If I had to depend on other people to feed me business, I wouldn’t have survived. Having to learn the whole process so I could do it all
FOCUS ON COMMERCIAL REAL ESTATE
if I had to was key. Having gone through lots of different financial crises, I’ve seen how traditional financing can kill a new business, and I’ve been able to find ways of bundling all of the different pieces for clients. I wouldn’t have been able to do that if I didn’t own my own company. I also don’t have any employees. For each project, I bring in consultants. The big boys have the same 15-member team for each project, and not everyone is a specialist in everything. By being able to customize the team, my clients aren’t having to pay for someone who isn’t an expert on what they’re trying to accomplish or someone they don’t need. You’re very much a proponent of peace, energy and social interaction. What do you think South Carolina needs to do in those areas? I’m much more of a bridge-builder than a fence-builder; if you don’t dialogue about peace and understanding, you don’t have a conversation. Everybody can’t do everything, but everybody can do something. If everyone reached out to one person, I think we’d have a healthier world and safer environment. How is it that we can instantly hate but we can’t instantly love? It’s an opportunity to grow. I think that South Carolina is in a unique position. We have more foreigners per capita than any other state in the nation. We are in a position to lead the thinking. We have sunshine, yet Germany has more solar than we do. We can lead in energy efficiency. We can be leaders in social interaction. We have a wealth of resources. We need those great conversations more than once a year. When companies relocate to South Carolina, what do you think is our one greatest asset? Critical mass. There are already people here from a lot of other countries. We didn’t always have that. There’s an established community of like-minded people. Our rural areas are almost vacant in the state, but they all have huge potential. The trail systems and the blueways – realizing that we have an incredible natural environment. This state is an absolute wealth of natural resources, and we don’t appreciate them. We live in the Garden of Eden, yet we
| COVER | 15
don’t treat it like that. These same rivers that were the engine for the textile industries have the potential for economic growth. We need to capitalize on all of that, but it’s usually the people from somewhere else that respect it more than we do. What’s the No. 1 reason companies choose to relocate to SC? It isn’t cheap land and cheap labor – those days are gone. It’s that we have community colleges to train workers in highly skilled technical areas. We still have a lot of land. We have a positive business climate. We have an international base. We have the institutions of higher learning that can support research. We just need more of it. We need great communication between them, and we need people working together. What project are you most proud of if you had to pick just one? About five years ago I had an intern from Pakistan. She had a financial background and started documenting things from my files and discovered I had done business with 25 different countries – I’ve since added two additional countries. We began testing that against other individuals, and I believe I have an international record of locating foreign international investment from 27 different countries into the Upstate. That was a defining moment. You are involved a lot with the United Nations for real estate and sustainability. What are your duties? This year I was made a member of The UNECE [United Nations Economic Commission for Europe]. Basically, we’re putting together some metrics for the world on housing. Affordable housing, sustainable housing and how to deal with housing crises during wars or climate impacts such as tsunamis. We’re looking at ways multinational corporations and companies around the world can invest in affordable housing, which we call workforce housing. How often do you travel? Probably three or four major trips a year. Do you have a favorite country? No, I haven’t found one I don’t like.
“Nobody ever developed a good weakness, and no one should ever spend any time trying to improve a weakness.”
16 | THE TAKEAWAY |
UBJ
NOTES FROM THE BEST TALKS YOU MISSED
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01.29.2016
UNDERSTANDING PRIVATE EQUITY By JOHN MOORE President and CEO, NEXT
EVENT: NEXT Capital Series WHERE: NEXT Innovation Center WHO WAS THERE: 25+ entrepreneurs and business leaders FEATURE PRESENTATION: “Understanding Private Equity� with Matt Dunbar (moderator), Mark Smith and Ben Wallace
Matt Dunbar is managing director of the Upstate Carolina Angel Network (UCAN), co-founder of the South Carolina Angel Network and a board member of the national Angel Capital Association and Entegra Bank. Prior to leading UCAN, Matt was a strategic management consultant with The Boston Consulting Group and a manufacturing and plastics engineer with Eastman Chemical Company. Mark Smith is CEO of Innegra Technologies, an advanced materials company in Greenville. Previously, Mark has been chairman, CEO and CFO with several growth companies across the U.S. and has strong experience working with private equity investments on the client side. Ben Wallace is a partner with Azalea Capital, a private equity firm based in Greenville that invests in lower middle-market companies. Before joining Azalea Capital in 2007, Ben worked as a product manager and business analyst for ScanSource Inc., an international distributor of technology products headquartered in Greenville. Private equity defined When considering all forms of investment capital available for growth businesses at various stages of development, private equity (PE) is designed for companies at more mature stages of growth as compared to angel and venture capital funds, which are earlier stage capital. PE is typically used to accelerate growth in a profitable business, turn around a struggling company or to affect a liquidity event such as an initial public offering (IPO) or a sale to a larger company. In alignment with this purpose, PE firms typically target companies with annual revenues of $10 million or more. Most firms narrow their focus further by investing in particular industries and often within certain geographies. What do PE investors look for? Assuming a company has reached the appropriate size for PE investment, the other key criteria considered by the investment managers are: 1: Identification of a future liquidating event, 2: A strong, established leadership team running the business, and 3: Achievement of key growth milestones.
Matt Dunbar (standing) moderates a discussion with Mark Smith (left) and Ben Wallace (center).
It is also important that PE investors believe they can bring additional value to the business beyond just the capital infusion, such as industry expertise and strategic relationships. Working with PE Companies who successfully attract PE investment should expect an active, engaged partnership going forward as the investor looks to leverage its business connections and past experiences to help the company achieve its objectives and the future liquidity event targeted. There is also, typically, a strong push in the first 100 days following a PE deal to implement the growth plan agreed on during the investment negotiation, and thus the company must be ready on Day One to shift into a new action plan with its PE partner.
surround themselves with a group of trusted advisors who can provide expert counsel from an unbiased view. This team should include both professional advisors such as attorneys and accountants who have worked with private equity funded companies before and business leaders who have successfully attracted and exited PE ventures previously.
Start early To attract PE funding, a CEO must work ahead of the funding need to get their company prepared for due diligence with potential investors. PE investors will expect the leadership team to know their company upside down and backwards and to be very knowledgeable of industry trends. Later in the process is no time to have surprises for the investors nor to stumble around for critical business information. Do your own due diligence Though the initial research into PE may require the company to cast a broad net to identify potential investors, the CEO should research and evaluate future partners just as exhaustively as they will review the company. This relationship will be like a marriage within the business and thus it is critical to get to know the strengths and weaknesses of the potential partner well before the deal closes. Team of advisors Perhaps the most important thing a CEO can do when evaluating a potential PE investment is to
Matt Dunbar moderating the NEXT Capital Series discussion.
01.29.2016
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MOVERS, SHAKERS AND DISRUP TORS SHAPING OUR FUTURE
upstatebusinessjournal.com
| INNOVATE | 17
Rest for success By JOHN MOORE CEO, NEXT
Thomas Edison once said, “Opportunity is missed by most people because it is dressed in overalls and looks like work.” How true! In my work with over 150 early-stage growth companies in the Greenville/Upstate area, I have noticed one common characteristic of successful entrepreneurs regardless of their industry or background – they work very, very hard. The hours that startup CEOs put into their ventures is quite astounding, especially when you add in the long hours they spend outside the office including the time they spend traveling, dealing with work matters from the home office, or even time thinking through strategic business matters regardless of the time of day or where they are physically located. The time successful entrepreneurs spend on their companies represents a huge percentage of their waking hours, often for years on end. Being an entrepreneur is not as sexy as it appears on the surface. As most successful entrepreneurs can attest, it is long, hard work. Yet there’s another important principle that I’ve noted in many successful entrepreneurs that, on the surface, seems to fly in the face of hard work but in actuality is complementary to it – the importance of rest and rejuvenation away from the business. If you’ve ever taken an entry-level business operations or organizational behavior class, then you’ve likely heard of Frederick Winslow Taylor and his time and motion studies. A key take-
away from Taylor’s studies was that manual laborers actually produce more work when they don’t toil continuously at their task but instead are given regular breaks to rest. By inserting periods of rest throughout the otherwise difficult workday, workers actually became more productive and get more work done by the end of the day than when they worked continuously. Though Taylor’s findings related directly to physical labor, at its core is the overarching principle of balancing effort with rest in order to achieve maximum “Give me six hours to chop down a tree, and I results, which I believe will spend the first four sharpening the ax.” hold true for entrepreAbraham Lincoln neurs of all types today. In his iconic book though he spends less time actually “The 7 Habits of Highly Effective sawing. Today, entrepreneurs can People,” Stephen Covey emphasizes benefit from taking this same perspecthe important habit of regularly taking tive and realize that working contintime away from the task at hand to uously may actually hurt their overall “Sharpen the Saw.” Covey’s terminolperformance. ogy arises from the illustration he uses The best reflection I see in my of a lumberjack who is instructed to personal life of the importance of cut down a large number of trees. He balancing work and rest for maximum makes the point that that in order for performance is with backpacking – the lumberjack to achieve his objective something my family and I love to do. in the most effective and efficient It’s so refreshing to get away into the manner, he should not saw continuwoods, hike most of the day along ously tree after tree. But instead, he mountain streams and hills, spend two should take time away from cutting or three nights in the wilderness and on a regular basis to sharpen his saw escape the rigors of work and everyday and thus improve his productivity. By life. We don’t do go backpacking often doing so, the lumberjack actually enough, but when we do, we’re always improves his sawing performance
glad we took time to get away and we all come home energized to face the weeks ahead. Within backpacking, it’s important to strike the right balance between the hard work of hiking to your destination and pausing occasionally to rest and take in the amazing scenery along the way. These important pauses not only provide the periodic rest our physical bodies need to achieve maximum hiking performance, they also provide us an opportunity to celebrate the progress we’ve made toward camp and to take in the beautiful scenery along the way that we would have missed otherwise. For entrepreneurs, these same principles hold true in their efforts to grow globally competitive companies. To toil continuously day and night for weeks and months on end may feel like the right thing to do and may be admirable and draw praise from others. But rarely is it best for your company’s performance or for you as a person. Yes, there are periods that require many, many hours of nose-to-thegrindstone, unglamorous effort in order to make a venture successful. That is a given. But only the wisest and most successful startup CEOs I know build intentional pauses into the plan, periods of rest and rejuvenation, to “sharpen the saw,” to celebrate progress, and to enjoy the journey and its beautiful sights along the way. Though it may seem counterintuitive at first, there is perhaps nothing more important for the long-term success of your venture and for you as an entrepreneur than to occasionally take time away from the business, shutting off the phone and email, so you can retool the most important asset your company has – you.
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18 | PROFESSIONAL |
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UBJ
STRATEGIES FOR HONING YOUR PROFESSIONAL SKILLS
01.29.2016
What Miss America taught me about business
By HANNAH BARFIELD SPELLMEYER Godshall Professional Recruiting & Staffing
On the surface, the Miss America program seems like a trivial pursuit by young women who like pretty gowns. As a participant of this organization, I can totally admit that. Actually, I’m not even going to refute it, because I, in fact, do like pretty gowns. What the general public misses, however, is the booming success so many Miss America contestants (not just winners) go on to experience after the crown. (Deidre Downs, Miss America 2005, chief resident OB/GYN physician; Erika Harold, Miss America 2003, attorney and two-time congressional candidate; Kate Shindle, Miss America 1998, Broadway actress, AIDS activist – the list goes on and on). After 10 years competing in the Miss America Organization, I can quite literally relate anything back to life lessons learned while competing for Miss Georgia and Miss South Carolina. Here are my top business-related insights: Appearance matters. This seems like an obvious statement (though maybe not if you follow Miss Universe and are die-hard Donald Trump fans). I should say polish matters. Your work ethic is directly reflected by your presentation.
I’m not advocating that geologists show up to work in a suit, but I am saying that they need to make sure their clothes are washed and wrinkle-free. If your shirts are wrinkled, your skirt is too short, or you still haven’t dry-cleaned that jacket with the spot on the collar – consider it. Will you be as haphazard with my account or money? Be gracious. You’ll often hear commentary surmising what the first runner-up is actually thinking when she doesn’t win the crown, and it’s usually “They called out the names backwards [insert expletives as you will].” Regardless of what’s going on in her head, she’ll smile and thank the audience and judges. Why? Because she just took home a load of money anyway and it’s compliment enough to have made the Top 5. In business, be grateful for business opportunities, mentors, the chance to learn, a paycheck, etc. You could be sitting at home on your laptop furiously submitting applications while E! plays “Sex & the City” reruns in the background. When people perceive that you value them and their time, they will return the favor. Save it for the car. One of my very favorite people I’ve ever met in pageants offered me this advice after one of those “first runner-up” moments. Essentially, if you don’t have anything nice to say, say it in the car where no one can hear but your mom (who loves
you unconditionally and will agree with whatever you say). There are times in our lives, not just in business, where we’d really like to tell someone exactly how we feel. Let me offer you a piece of advice: don’t. Give yourself time to process whatever the slight was, whether it’s even worth confronting, and how you’d like to be perceived in how you handled it. Don’t fake it. The old adage “Fake it ‘til you make it” is a bit dangerous. I once had an interview coach tell me that a pageant resume should be a “fact sheet, not a fiction sheet.” You should consider your resume the same. If you exaggerate your skills or misrepresent your job history, it will eventually catch up with you. You’ll be in a job you’re unqualified for, a culture in which you don’t fit or a business contract where you can’t deliver. When I mentor or consult with young women competing in Miss America preliminaries, I try to stress the importance of being your best self. If you aren’t bubbly (Mallory Ervin, Miss Kentucky 2009, fit herself into a suitcase on national television and competed on “The Amazing Race” twice), don’t act like you are. If you’re not a brainiac (Crystal Lee, Miss California 2013, two degrees from Stanford and currently working at Google), don’t pretend you are. You are always best when you are authentic.
JANUARY 15,
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01.29.2016
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upstatebusinessjournal.com
THE FRESHEST FACES ON THE BUSINESS LANDSCAPE
| NEW TO THE STREET | 19
Open for business 1
www.thalhimer.com 864 370 8155
1. The Springs at Simpsonville Assisted Living recently dedicated a new facility at 214 E. Curtis St., Simpsonville. For more information, visit thespringsatsimpsonville.com. CONTRIBUTE: Know of a business opening soon? Email information to lgood@communityjournals.com.
B UI LDI N G S OLUTI ON S
SUCCEEDING $2.0 B
Transactional Volume
14.9 M
Square Feet Leased
10.5 M
Square Feet Sold
+20 M
Square Feet Managed
As a leading commercial real estate firm, we consistently deliver creative solutions that are tailored to the unique needs of every client. In 2015 our collaborative approach yielded over 2,100 lease and sale transactions totaling over $2 billion in transactional volume in Virginia and South Carolina. We thank all of our clients for a successful 2015 and look forward to exceeding expectations throughout the new year!
Driving client value by delivering the right real estate solution.
Cushman & Wakefield | Thalhimer is a leading full-service commercial real estate firm in the Mid-Atlantic. We have a unique balance of local flexibility and global reach by leveraging our partners in the Cushman & Wakefield alliance. Our clients benefit from the combined talents of over 400 associates with expertise in all product types. Together, we tirelessly strive to build the right solutions for every one of our clients’ unique needs. No matter what the requirement, we’ve got the solution!
20 | ON THE MOVE |
UBJ
PLAY-BY-PLAY OF UPSTATE CAREERS
HIRED
HIRED
HIRED
HIRED
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01.29.2016
PROMOTED
Kristi Hall Ayala
David Kabrin
Lety Good
Scott Taylor
Adam D. Roberts
Named director of operations at the Ronald McDonald House Charities of the Carolinas. Ayala will be responsible for daily operations, facility maintenance and managing all aspects of residents and their stay. She currently serves as president of the board of directors for the Bridges Crossing Home Owners Association in Simpsonville.
Named senior account executive at Community Journals. Kabrin previously worked in public relations with the New York Knicks and marketing for the New York Mets. As senior account executive, he will create and expand relationships and aid in creation direction for editorial and ad campaigns.
Joins Community Journals as a staff writer. Good recently graduated from USC Upstate where she earned a degree in communications. She will cover breaking news, culture features, craft beer and food, and business and community news briefs for the Greenville Journal and the Upstate Business Journal.
Named executive director of operations and client financial management with Jackson Marketing, Motorsports and Events. Taylor has more than 25 years of corporate and agency finance experience in internal audits, mergers and acquisitions. He began his career in a public accounting firm and was recently the CFO at Coldwell Banker Caine.
Named an associate with DP3 Architects. Roberts has been with the firm for more than nine years. He is a graduate of Clemson University with a Bachelor of Arts in design and completed the NCARB Architectural Registration Examination in 2015.
COMMUNITY The Children’s Museum of the Upstate appointed the following eight
members to its board of trustees: John Boyanoski, president of Complete Public Relations; Zackary Brown, a retail sales manager with Entercom
Radio LLC; Troy Chisolm, administrator of psychiatry and behavioral medicine for the Greenville Health System; Satreva Dogan, director of
membership and guest services at Long Branch Baptist Church; Doug Evans, an attorney with Brown, Massey, Evans, McLeod, and Haynsworth; Phyllis >>
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VIP
accountant and is also an active board member of Trees Greenville Inc. TD Bank named Nate Barrett as senior middle market relationship manager for the Carolinas. Barrett has more than 15 years of experience in banking. He previously served as a senior commercial relationship manager for TD Bank and commercial banking manager for First Citizens Bank.
Kevin Krenzke Named CFO at Ob Hospitalist Group. Krenzke is a certified public accountant and has about 20 years of finance and accounting experience. He previously served as CFO for an oncology practice and held financial, operating and strategy roles for McKesson Specialty Health.
>> Henderson, a representative for Greenville’s District 21; Robert Stevens, senior manager with Elliot Davis Decosimo LLC; and Sara Sierra, director of development of Christ Church Episcopal School. EDUCATION The Music Teachers National Association (MTNA) awarded Steven Brundage the American Music Teacher Article of the Year Award for 2015. Brundage is a graduate of Bob Jones University and is a DMA piano pedagogy candidate at the University of South Carolina. The award recognizes outstanding contributions to MTNA’s professional journal.
FINANCE Wagner Wealth Management named Brian Todd as director of client services. Todd has 15 years of investment advisory experience. He was previously with Suntrust Investment Services for eight years. BE&K Building Group named Shawn Rodwell as vice president of finance. Rodwell is a member of the company’s senior leadership team and has 25 years of experience in international finance and accounting. He is a certified public
FinTrust Investment Advisors named Rick Coad as an addition to the firm. Coad has over 40 years of financial industry experience. He has served as senior vice president for AmSouth Bank, First American National Bank and Raymond James Financial. Coad most recently served as the general securities principal for INTL FCStone Inc.
HR Godshall Professional Recruiting and Staffing named John Riddle as a professional recruiter. Riddle has more than four years of recruiting experience supporting HR and administrative roles. He was recently a territory manager for staffing and recruiting firm Sparks in Washington. He has also had sales and management roles with companies such as Furnace MFG and Enterprise Car Sales.
LEGAL Scott and Company LLC promoted Sharon Ray to manager and Casey Gilbert to in-charge accountant on the firm’s assurance and advisory services team. Ray began her career at the South Carolina Department of Revenue where she audited tax returns. She also worked in the audit and assurance department of a regional public accounting firm. Gilbert joined the firm’s assurance and advisory department in 2013 and has experience in the auto dealership industry. Haynsworth Sinkler Boyd named Bonnie A. Lynch and Garrett D. Steck as shareholders. Lynch’s practice focuses on utility, construction, personal injury and business/commercial litigation. She currently serves as the Upstate representative for the South Carolina Women Lawyers Association. Steck focuses his practice on immigration and corporate law. He is a member of the firm’s corporate and employment practice groups.
CONTRIBUTE: New hires, promotions & award winners may be featured in On the Move. Send information and photos to onthemove@upstatebusinessjournal.com.
PLAY-BY-PLAY OF UPSTATE CAREERS
| ON THE MOVE | 21
22 | THE FINE PRINT |
UBJ
BUSINESS BRIEFS YOU CAN’ T MISS
WYNIT Distribution partners with Atomos
WYNIT Distribution partnered with Australia-based Atomos to bring the company’s products into the photo and retail channels throughout the U.S. and Canada. WYNIT will distribute the full line up of Atomos’ camera-mounted recorders and recording accessories. “Atomos has enjoyed strong growth in North America and we look forward to the continued growth by partnering with an established distributor such as WYNIT,” said Matthew Cohen, Atomos president of Americas. “With their multiple distribution centers and strong network of both large national retailers as well as independent retailers, we’re confident they understand Atomos’ vision for growth globally.” In November 2015, WYNIT announced it would be relocating its corporate headquarters from New York State to downtown Greenville early this year.
Greenville-based Fuller Consulting Engineers Inc. has changed its name to Fuller Group Inc. as of December 2015. The new name reflects the evolving focus and growth of the company, according to a release. Fuller Consulting Engineers Inc. was founded in 1997 to provide structural engineering services to architects, contractors, fabricators, owners and others associated with the building industry. The company has grown to provide structural engineering services in 48 states. In 2011, the firm expanded services to include forensics and building envelope services. The forensics division has experience working with both plaintiff and defense counsel and are currently providing expert witness services on construction litigation and premises liability cases in locations across South Carolina, North Carolina and Georgia. The firm’s new website, fullergrp.com, will launch in early 2016 and will showcase both service divisions – Fuller Structural and Fuller Envelope.
SL Opportunity Finance, LLC Short-term preferred equity and debt investments for the acquisition and/or development of real estate.
Nine certified community economic development organizations in South Carolina used $1 million of the state’s Community Development Tax Credits last year to attract more than $3 million in private capital for poor and rural communities throughout South Carolina, according to the S.C. Association for Community Economic Development (SCACED). The certified community economic development organizations used this private capital to create jobs, start small businesses and improve the quality of life of South Carolinians. An act in 2000 created the tax credits, providing $5 million in a 33 percent state tax credit to SC taxpayers who invest in certified community development corporations (CDCs) and community development financial institutions (CDFIs). These organizations work in poor communities of South Carolina to help families build wealth and escape poverty by creating more than 5,500 jobs, more than 100 small businesses and having an economic impact of over $250 million in South Carolina, according to a release. The law places an annual cap of $1 million in tax credits annually. Last year was the first year where the use of these tax credits reached the annual cap of $1 million.
01.29.2016
Fuller Consulting Engineers changes name
Sandlapper Capital Investments, LLC Launches
$1M Community Development Tax Credit cap met in 2015
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$10,000,000 Investment Opportunity
10%
Preferred Return
$50,000
Minimum Investment
Integrated Biometrics achieves ISO 9001 certification
Upstate-based Integrated Biometrics, developer of FBI-compliant fingerprint scanners, reported that its production facility in Seoul, South Korea, has achieved International Organization for Standardization (ISO) 9001 certification. “The ISO certification process was intense yet rewarding, as it offered us an opportunity to enhance our manufacturing capabilities through a comprehensive review of our internal practices,” said President of Integrated Biometrics Korea Daniel Jang. The facility produces the company’s Sherlock, Watson Mini and Columbo one- and two-finger mobile fingerprint scanners as well as a yet-to-be-released 10-print roll scanner to be unveiled in March. Products featuring Integrated Biometrics fingerprint scanners are used by government, law enforcement, military and private industry worldwide for uses such as border security, voter registration, field identification of suspects and security threats and access control.
01.29.2016
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INSIDE THE UPSTATE’S NETWORKING AND SOCIAL SCENE
upstatebusinessjournal.com
| SOCIAL SNAPSHOT | 23
BARN RAISING AT NEXT MANUFACTURING Earlier this month, Synergy Mill hosted a “barn raising” event at the NEXT Manufacturing Center, to put walls up for their new workshop space. More than a dozen went, bringing their own tools to help out and see the progress of the new space. Photos provided
This announcement does not constitute an offer to buy or sell securities. Such offers may only be made to qualified accredited investors via Private Placement Memorandum. Investments should be considered highly speculative and involve a degree of risk including the potential for complete loss of principal investment. This announcement does not supersede the PPM. Securities offered through SANDLAPPER Securities, LLC (Member FINRA/SIPC) an affiliate of Sandlapper Capital Investments, LLC the Sponsor/Manager of the Fund.
To learn more contact: Trevor Gordon, CEO (864) 679-4701 ext. 101 tgordon@sandlappercapital.com www.SandlapperCapital.com
2015
Roaring Twenties Award: South Carolina’s 4th Fastest-Growing Company Real Estate Forum Magazine: One of 2015’s Fastest-Growing Companies
Investors will be entitled to a preferred distribution accruing from date of issuance of Preferred Units at a cumulative, non-compounding rate of 10.0% per annum on capital contributions. Investors may also receive an additional distribution accruing from date of issuance of Preferred Units at a cumulative, non-compounding rate of 5.0% per annum on capital contributions. INCOME IS NOT GUARANTEED.
ALOFT OPENING Aloft Greenville Downtown held a reception last week to celebrate the hotel’s grand opening. Photos provided
John McKbbon, chairman of McKibbon Hotel Management; Jean Smith, vice president of lifestyle hotels for McKibbon Hotel Management; Vann Herring, CEO, McKibbon Hotel Management
CONTRIBUTE: Got high-resolution photos of your networking or social events? Send photos and information for consideration to events@upstatebusinessjournal.com.
24 | DEALMAKERS | NAI EARLE FURMAN ANNOUNCED: Ted Lyerly, Jimmy Wright and Brendan Gower represented the landlord, Hotzfam Trusts, in leasing to The Casual Pint a 2,600 SF retail space in Augusta Village Shopping Center in Greenville. Keith Jones and Kelly Sullivan represented the landlord, Worldwide Investment and Land Acquisition Trust, in leasing to Dobson, Jones, Ball, Phillips & Bridges a 5,722 SF office space at 1306 South Church St., Greenville. Taylor Allen represented the landlord, Garrison Greenville Patewood I LLC, in leasing to Midcountry Financial Corp. a 4,951 SF office space at 30 Patewood Drive, Greenville. Taylor Allen and Alex Campbell represented the tenant, Greenville Health System, in leasing a 6,329 SF office space in Roper Mountain Business Center in Greenville from TIC Properties Management LLC. Ted Lyerly, Jimmy Wright and Brendan Gower represented the landlord, Campus View Apartments LLC, in leasing to Upstate Pie LLC a 2,688 SF retail space at 111 Earle St., Clemson. Hunter Garrett and John Staunton represented the landlord, Garrett Taro Road LLC, in leasing to Sunland Logistics Solutions a 41,500 SF industrial space at 1300 Old Stage Road, Simpsonville. Taylor Allen represented the landlord, Terra Parkgreen LLC, in leasing to Oaktree Medical Center a 3,580 SF office space at 545 North Pleasantburg Drive, Greenville. Taylor Allen represented the landlord, Terra Parkgreen LLC, in leasing to LabSource LLC a 4,613 SF office space at 545 North Pleasantburg Drive, Greenville. Scott Jones represented the seller, Sarah Goodson Properties LLC, in the sale of a 8,000 SF office building in EastPark at Pelham in Greenville to 699 Fairview LLC. Towers Rice represented the seller, Baldree Properties, in the sale of a 3,600 SF industrial property at 320 Tandem Drive, Greer to SC Rent A Bus LLC. Keith Jones and Kelly Sullivan represented the sellers, RDD LLC and Dhillon LLC, in the sale of a 3,000 SF office building at 306 Highway 14, Simpsonville to 306 Upstate Properties LLC. Andrew Babb represented the buyer, Triton Global Holding Inc., in purchasing a 6,339 SF office building at 1595 Skylyn Drive, Spartanburg from First Citizens Bank & Trust.
UBJ
COMMERCIAL REAL ESTATE TRANSACTIONS IN THE UPSTATE Peter Couchell and Robert Schmidt represented the seller in the sale of a 13,000 SF office investment property in Spartanburg leased by Wells Fargo and Ward Law Firm. John Powell represented the seller, Southern Star Holdings LLC, in the sale of a 10,447 SF industrial property at 515 West Whitner St., Anderson to Mr. Forklift. Cameron Babbitt represented the seller, M A Williams Properties Inc., in the sale of a 16,000 SF retail investment property at 1876 East Blackstock Road, Roebuck to Four Trees LLC, represented by Hunter Garrett and John Staunton. Scott Jones represented the seller, Freedom Baptist Church, in the sale of 12.3 AC of land on Cedar Lane Road in Greenville to Smart Guys LLC. Earle Furman and Glenn Batson represented the seller, Park Sterling Bank, in the sale of 18.44 AC of land on Fairview Road in Simpsonville to Fairview Rd Investors LLC. Tony Bonitati, Kay Hill and Bern DuPree represented the seller, Stratton Hills Properties LLC, in the sale of an eleven-unit multi-family property, Marbella Circle Townhomes, in Greenville to Darryl Holland. Jake Van Gieson and Bill Sims represented the seller, TMJ Holdings LLC, in the sale of a 38,816 SF multitenant office building at 15 Brendan Way, Greenville to ROIF Brendan Way LLC. Rusty Hamrick represented the seller, LJ Bowater LLC, in the sale of 152 AC of land on Craigo Road, Fountain Inn to Matthew and Blair Vana. Jimmy Wright, Ted Lyerly and Brendan Gower represented the seller, RDM3 LLC, in the sale of a 12,108 SF industrial property at 321 Tandem Drive, Greer to TIC Properties Management LLC. AVISON YOUNG ANNOUNCED: Rob Howell represented the seller, FBSA 1 LLC, in the sale of a 6,000 SF office building at 158 Milestone Way, Greenville, to Allen Kincald LLC for $505,000. Gordon Anderson represented the tenant, Tangible Intentions, in the lease of a 1,200 SF office space at 1296 Pendleton St., Greenville, with Two Score Properties LLC. LEE & ASSOCIATES ANNOUNCED: Randall Bentley represented the seller, Corpro Properties LLC, in the 1.829 AC sale of 300 Ben Hamby Drive, Greenville, to Palmetto
Mortuary of South Carolina. Bryon Culbertson represented the buyer, Ag-Pro Real Estate Investments LLC, in the 1.03 AC purchase of 2050 Sandifer Blvd., Seneca, from Charles G. and T. Beth Roddy. Bryon Culbertson represented the buyer, Vinyl Properties, in the 10.2 AC purchase of 555 S. Old Piedmont Hwy, Greenville, from School District of Greenville County. Randall Bentley represented the tenant, Signor Real Properties LLC, in the 71,800 SF lease of 6998 Pelham Road, Greenville, from Ushers Machine & Tool Co. Inc, represented by Kevin Bentley. Randall Bentley represented the landlord, RTL Properties LLC, in the 18,750 SF lease of 200 Brozzini Court, Suite B, Greenville to McCarthy Tire Services of GA & SC Inc. Kevin Bentley represented the tenant, Goss Electric Inc., in the 4500 SF lease of 1865 E. Main St., Duncan from Wrench 290 LLC. Bryon Culbertson and Deanna Hudgens represented the seller, NSSP, LLC, in the 2.79 acre sale of American Way in Anderson. The buyer was OXEN Real Estate Investments, LLC. Randall Bentley and Willz Tolbert represented the seller, Trailwalker, LLC, in the 12,000 SF sale of 50 S. Richardson St., Greenville to Accente Group Inc. Randall Bentley represented the seller, Webber Ventures LLC, in the 6 AC sale of 6000 Pelham Road, Greenville to RealOp Investments LLC.
Place shopping center near the intersection of Batesville and Pelham roads in Greer. Jay Ashley represented J Fiore in the lease of 1,500 SF retail space to The Guitar Shop. Mark Griffin represented seller Kudzo LLC in the sale of 1.7 AC of office and industrial land in the Southridge Business Park in Mauldin to Kay-Tee Holdings LLC. Mark Griffin represented tenant C&K Benefits LLC in the lease of a new corporate office headquarters at 106 Renaissance Circle in Mauldin. Mark Griffin represented seller Gary and Arlan Hawkins in the sale of a 5,000 SF commercial building at 730 Wade Hampton Blvd., Greenville to CHWS Holdings LLC. Mark Griffin represented seller D Parker in the sale of a 1,500 SF commercial office building at 409 State Park Road, Greenville to Ann Keese and Hope McCorkle. Mark Griffin represented Comer and Vodoor LLC in the lease of 4,000 SF of retail space to Ivey’s Furniture at 1731 E. Main St., Easley. Jay Ashley represented tenant Patrick Crowe in the lease of a 2,000 SF office building at 4103 Liberty Hwy, Anderson. Jay Ashley represented J Fiore in a lease of 6,000 SF of retail space to La Palma Mexican Restaurants. Jay Ashley represented Mike Thompson in a lease on a commercial building and a .70 improved commercial lot at 9491 Augusta Road, Pelzer to Old Hickory Buildings.
Randall Bentley represented the landlord, Sikes Properties LLC, in the 25,000 SF lease of 309 Tucapau Road, Duncan to Eaton Corporation.
Jay Ashley represented buyer Louis Lignos in the purchase of a 3,500 SF restaurant building and .6 acre commercial lot at 6130 Belton Hwy, Belton.
GRIFFIN PROPERTY SOLUTIONS ANNOUNCED:
Jay Ashley represented J Fiore in the lease of 1,500 SF of retail space to Get Right Personal Training.
Mark Griffin represented the seller, Parker Manufacturing Company, in the sale of 35 AC of undeveloped commercial land on Highway 123 in Greenville to Vega Corp. Mark Griffin represented tenant, Venture Donuts LLC, dba The Donut Experiment, in leasing 1,500 SF of retail space at 2123 Augusta St., Greenville. Mark Griffin represented seller, Hydraulic Specialties Inc., in the sale of a 6,000 SF industrial facility on 3 AC on Trammel Road off of Highway 101 in Spartanburg County to Nazareth Builders. Mark Griffin represented tenant, The Onin Group, dba Onin Staffing LLC, in a long-term lease of a 1,200 SF office suite in the Pelham
Mark Griffin represented J Fiore in a lease of 1,500 SF retail space to Sylvan Learning Centers. Mark Griffin represented C Gibson Jr in the lease of a 3,000 SF retail building in Simpsonville to Kidz Kare. Mark Griffin represented Ginger Tapp in the sale of .5 AC commercial lot near the intersection of Poinsett Highway and S. Parker Road to McCall Capital. COLDWELL BANKER COMMERCIAL CAINE ANNOUNCED: Matt Vanvick represented the landlord, Stone Avenue Partners LLC, in the leasing of four small office suites at
217 E. Stone Ave., Greenville, to Will Rutherford, James Avenue LLC and Frogger House LLC. Pete Brett represented the buyer, Shelley Bauer, in the purchase of 17 dwellings on 1.77 AC at 14 Loom St. and Talley St., Greenville, from David F. Lawless and Jimmy E. Nolan. Pete Brett, David Sigmon and Matt Vanvick represented the seller, South State Bank in the sale of a 8,800 SF office building on 0.28 AC at 215 N. Townville St., Seneca, to Beaverdam Baptist Association. David Sigmon and Matt Vanvick represented the seller, Bank of America, in the sale of a 6,275 SF office building on 1.42 AC at 304 S. Main St., Simpsonville, to The End in Mind LLC. Graham Howle and Lakin Parr represented the buyer, Sohan LLC, in the purchase of 1.56 AC at Gossett Road in Spartanburg from Fourten Properties LLC. Graham Howle and Lakin Parr represented the buyer, Sohan LLC, in the purchase of 15.77 AC at Enola Station Road in Spartanburg from Katherine K. Lischerong. Tim Satterfield and Angela Halstead represented the buyer, Spinks Investments Inc., in the purchase of 1.83 AC at 1512 Boiling Springs Road, Boiling Springs, from Laura Kay M. Patton and Harold L. Millard. Tim Satterfield and Angela Halstead represented the seller, Douglas W. Dobbins, in the sale of a 4,000 SF industrial flex building on 2.27 AC at 480 and 498 Carolina Drive Ext., Roebuck, to M & M Landing LLC. Charles Humphreys represented the landlord, J & A Management Group LLC, in the leasing of a 1,600 SF office space at 3921 S. Hwy. 14, Suite A, Greenville, to HIS Therapy LLC. Sammy Dubose represented the landlord, Woodvan LLC, in lease renewal negotiations for 3,000 SF of retail space at 1216 Woodruff Road, Greenville, with TD Bank. Tim Satterfield and Angela Halstead represented the tenant, Automation Personnel Services Inc., in the leasing of 1,926 SF of retail space at 2098 E. Main St., Suite A, Duncan, from Cradle 2 Cradle LLC. Tim Satterfield and Angela Halstead represented the landlord, Mary Black Foundation, in the leasing of 1,950 SF of office space at 349 E. Main St., Suite 101, Spartanburg, to Spartanburg Academic Movement (SAM). Tim Satterfield and Angela Halstead represented the landlord, Triple Rock
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01.29.2016
Investments Inc., in the leasing of 2,270 SF of industrial flex space at 1335 Nazareth Church Road, Spartanburg, to Covington Fabric and Design LLC. COLLIERS INTERNATIONAL ANNOUNCED: Jake Jackson and Brantley Anderson represented the landlord, Century at Keith LLC, in the lease of 1,360 SF of office space at 5 Century Drive, Suite 240, Greenville, to JDRF International. Richard Barrett and Lyn Tyner represented the landlord, R&J Investments, in the lease of 4,000 SF of flex space at 1040 Thousand Oaks Blvd., Unit A, Greenville, to GenX Security Solutions, represented by Frank Hammond and Nick Reinhardt. Richard Jackson represented the tenant, Schneider Electric USA Inc., in the leasing of 13,430 SF of flex space from Collin Brothers LLC at 250 Neely Ferry Road, Simpsonville. Scott Burgess represented the landlord, Burgess Investments LLC, in the leasing of 1,518 SF of retail space at 1143 Woodruff Road, Suite F, Greenville. Jake Jackson represented the tenant, eRAD, in the leasing of 12,785 SF of office space at 201 Brookfield Parkway, Greenville. SPENCER HINES ANNOUNCED: Zach Hines was the listing and leasing agent in lease of a 1,200 SF property for $174,000 at 3720 Pelham Road, Greenville, by Rio Brazilian Wax VIII LLC from Pelham 100 LLC. Bobby Hines was the listing and leasing agent in a lease renewal of a $30,000 property at 420 The Parkway, Suite E, Greer, by Cothran Properties LLC from T&W Properties LLC. Zach Hines was the listing and leasing agent in a lease of a 1,600 SF office space for $13,000 at 500 E. North St., Suite A, Greenville, by Hoffman & Hoffman Inc. from ZREK Properties LLC. Bobby Hines was the listing agent and Michelle Lange was the leasing agent in the lease of a 2,600 SF catering space for $183,900 at 1054 E. Butler Road, Suite A, Greenville, by Seasons Catering & Café LLC from Indriel LLC. Bobby Hines was the listing and leasing agent in the lease renewal of a $70,380 property at 38 Halter Drive, Piedmont, by State Farm Insurance, John W. Harvin III, from William and Sue Brooks.
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upstatebusinessjournal.com
Zach Hines was the listing and selling agent in the sale of a $102,000 property at 6 Elm St., Greenville, by Nancy J. Smith to Banker Exchange LLC for Smart Guys LLC. Zach Hines was the listing and selling agent in the sale of 12.3 AC of property for $170,000 at Cedar Lane Road, Greenville, by Freedom Baptist Church to Smart Guys LLC. Brad Johnson was the listing and selling agent in the sale of a $150,000 property at 212 Old Jones Road, Duncan, by David W. Poole to Deepwater Properties LLC. Craig Jacobs was the selling agent in the sale of a 5,000 SF medical office at 220 Irby St., Woodruff, by Blue Cross – Blue Shield to ReGenesis Health Care for $435,000. Robbie Romeiser was the listing agent in the sale of a 1.92 AC and 1,200 SF investment for $140,000 at 1512 Boiling Springs Road, Boiling Springs, by Laura Kay to Spinks Investments Inc. Craig Jacobs was the listing agent and Jeff Howell was the selling agent in the sale of a 1.5 AC property for $49,900 at Tradd Street in Spartanburg by Richard Genoble and Lynn Hines to Mile Zero LLC. Kim Keith was the listing
COMMERCIAL REAL ESTATE TRANSACTIONS IN THE UPSTATE
agent and Andy Hayes was the selling agent in the sale of a 7,500 SF property for $50,000 at 856 S. Pine St., Spartanburg, by Ann Hall Hines to National Truck & Trailer Leasing LLC.
Andy Hayes was the listing and selling agent in the sale of a 10,000 SF office for $167,000 at 200 Elford Court, Spartanburg, by Ray V. Damian to Project Hope Foundation Inc.
Andy Hayes was the selling agent in the sale of a 3,000 SF property for $260,000 at 109 Poinsett Hwy, Greenville, by Melfa Ray, Henley Thompson and William Henley to FCFS SC Inc.
Bill McDaniel was the listing agent and Andy Hayes was the selling agent in the sale of a 34,344 SF general business space for $2,600,000 at 9107 Asheville Hwy, Spartanburg, by Restoration Church to High Point Holdings LLC.
Guy Harris was the listing and selling agent in the sale of a 1,960 SF and .73 AC general retail space for $26,500 at 6490 S. Pine St., Pacolet, by FBSA I LLC to Premier Properties of North Georgia. Andy Hayes was the listing and selling agent in the sale of a 1,560 SF office for $90,000 at 103 Elford Court, Spartanburg, by the Taylor Family Partnership to Project Hope Foundation Inc. Andy Hayes was the listing agent in the sale of a 16,150 SF property for $150,000 at 567 York Road, Blacksburg, by Atlas NC I SPE LLC to Angela Guest Moorehead. Andy Hayes was the listing and selling agent in the sale of 8.49 SF of land for $70,000 at Nazareth Church Road in Spartanburg by Triple Rock Investments Inc. to Jesus Lugo Hernandez.
Lynn Spencer was the listing agent in a 3,375 SF office space for $31,248 in the Hearon Business Center at 7092 Howard St., Unit G, Spartanburg, by Two Men and a Truck from Hearon Center LLC. Lynn Spencer was the listing and leasing agent in the lease of a 1,200 SF boutique for $8,400 at 2099 S. Pine St., Spartanburg, by Beverly Dawkins, Beeloved Boutique, from ARTEP LLC. Lynn Spencer was the listing and leasing agent in the lease of a 3,000 SF restaurant space for $348,000 at 6001 Wade Hampton Blvd., Taylors, by J&L Holdings LLC from Verdana Investments LLC. Dale Seay was the listing and leasing agent in the lease of a 600 SF salon space for
$28,200 at 1000 N. Pine St., Unit 18, Spartanburg, by Garden Salon from Baker & Baker. Randall Bentley was the listing agent and Guy Harris was the leasing agent in the lease of a 2,674 SF office space for $17,182 at 1110 W. Butler Road, Greenville, by Sepp Inc from Opsource LLC. Craig Jacobs was the listing agent and Guy Harris was the leasing agent in the lease of a 1,980 SF office space for $15,600 at 115 Southport Commons, Spartanburg, by IMOCO from Lancer Investments LLC. Andy Hayes was the listing and leasing agent in the lease of a 900 SF hair salon for $32,400 at 246 E. Blackstock Road, Spartanburg, by April Roberts from Rockledge Development. Andy Hayes was the listing agent in the lease of 3,946 SF of business property for $1,775,570 at 775 Spartanburg Blvd., Spartanburg, by MedTrak Services from Rose & Walter Montgomery Foundation. Andy Hayes was the listing agent and Neal Boyett was the leasing agent in the lease of a 2,290 SF space for $86,280 at 246 E. Blackstock Road, Spartanburg, by Palmetto
Twist from Rockledge Development Corp. Andy Hayes was the listing agent and Dale Seay was the leasing agent in the lease of a 9,600 SF auto parts distribution space for $7,200 at 2994 Fairforest Clevedale Road, Spartanburg, by Circle Auto LLC from Fairforest Southern LLC. Andy Hayes represented the lessor, Henry Schirmer, in renegotiating the lease renewal of a 3,192 SF U.S. post office for $175,370 at 1955 Drayton Road, Drayton, by the U.S. Postal Service. Robbie Romeiser was the listing and leasing agent in the lease of a 3,750 SF and .67 AC property for $19,800 at 107 Builders Court, Boiling Springs, by STEAM Express Academy from Alarm Monitoring Center. Lynn Spencer was the listing and leasing agent in the lease of a 288 SF office space for $4,837 at 101 W. St. John St., #14, Spartanburg, by Sally Chambers. Guy Harris was the listing and leasing agent in the lease of a 2,918 SF medical office space for $144,559 at 397 Serpentine Drive, #B, Spartanburg, by Express Care Pediatrics Inc. from C2 G2 LLC.
| DEALMAKERS | 25 Guy Harris was the listing and leasing agent in the lease of a $6,000 property at 180 Dove Hill Road, Spartanburg, by Ray Powell and Stephanie Rhodes from F. Hugh Atkins RE Construction Co. Andy Hayes was the listing and leasing agent in the lease of a 1,188 SF general business space for $16,573 at 775 Spartan Blvd., #101, Spartanburg, by Credda Capital from Rose & Walter Montgomery Foundation. Andy Hayes was the listing agent in the lease of a 4,858 SF general business space for $362,844 at 775 Spartan Blvd., #102, Spartanburg, by Synalloy Corporation from Rose & Walter Montgomery Foundation. Andy Hayes was the listing agent in the lease of a 3,279 SF office space for $224,612 at 775 Spartan Blvd., #202, Spartanburg, by Upstate CPA from Rose & Walter Montgomery Foundation. Andy Hayes was the listing agent in the lease of a 2,251 SF general business office space for $154,193 at 775 Spartan Blvd., #105, Spartanburg, by Stravolo Wealth Management from Rose & Walter Montgomery Foundation.
From lenders to developers, we represent Greenville. With our experience in real estate, business and commercial law, we pride ourselves in bringing a business perspective to your transactions. We represent sellers, purchasers, lenders, and developers in a variety of real estate matters, including the sale, purchase, lease, development, and financing of residential, commercial, and industrial properties.
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>> Charlie Jones “Geez, it’s the experience and the fact it’s a big deal when a city gets one. After all, Memphis just got one finally this year. Certainly made dear friend David Perry Ouzts day!”
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The layout of print meets the convenience of the web: flip through the digital edition of any of our print issues at I C E N TE S OM TORT ANAAUTMHUENITY MANAGER SOCIALINMG PP N H A T N L E >> upstatebusinessjournal. T Y I G E EM ANG EFFICISIS NOWCIDTY GEOTATRIONABL FICAT ( ENT ING ENCY FR ATA AC GAMI OC ME EE MIU M R QUA Fcom/past-issues MO TI LITUYIT MILLENNIALS REALAL SOCIAMLAN)CTCIOONNABSLTEYIMTEMMVS(SYWOEEATRSKPOETINAGRKETI S M I VE R N M M O
>> Delores Snyder-Wallace “Cheesecake was good but so is Sara Lee’s. Was not impressed by the one in San Antonio. The only one I have been to. Way overpriced and overrated.”
Marketing terms defined
AITAGGR EDIAMPVRIESSIONSSATINIOFLUENNCESR MICRNTIMEUP
>> Ginger Culbertson “Their Thai wrap appetizer is the absolute best. It’s worth going there for that. The cheesecake will kill you… it’s too tasty.”
WHAT DOES IT MEAN?
DIGITAL FLIPBOOK ARCHIVE >>
COMPLIMENTARY
N EY CO EGATIO SUALIZATIO DIA SE ISR W E L MPERFNOTREXTUNASLOMCIAALRMKEETINGRDS) LOPLAC ARK MANCE INDICATO AID ETING P AIN POINTS P
>> Mike Hawley “They buy their cheesecakes from Sysco. They don’t make ‘em.”
with tech
LOCAL PROS
t, on strategy, engagemen media millennials and digital
PLUS
>> Charlie Jones “Sorry. Can’t say the same about the ones in Atlanta and Charlotte.”
| VOL. 5 ISSUE 4
DOM360 GROWS
by blending marketing
E T A N ALY T Y BIG TA N N IS K I N G DCALI C K B A C QU UIT M O V A T O R S EFFI C IE N ( M A N TN ETTE ILLE N N I A LS M O O C KETI SC GM MMV S(TORYSOCM NICHA N NEL M AERCOND- DER IN A S E Y A CIAVERSE NT PITOCUR MILPEIANGGESOLOTMHOOUGHT LEET SPOT MAR IA E N L ME H2H ( H A C TIO N A B L E I T E M S S W A TI O S OC GEO H TY B MEDDI IA ANAULMAN TO HUMAN) CONVEORMS ATIONTICITYMARKE IG D A V IS Y T I C S M A R K ET I N G A U T U T HE N U AL ATA C U A LIZ A TI O N CR O SITES A TEXT S MI N O N TEN T I S K I N G C LI C K B A I T C O
>> Chris DeJong “Been to other Cheesecake Factories in the north. They are no big deal. Very ordinary.”
JANUARY 22, 2016
NTI
> Charlie Jones via FB “It’s now officially official! Who would ever have thought that Greenville would have TWO Ruth’s Chris Steakhouses and a Cheesecake Factory!”
01.29.2016
BIZ BUZZ
Distilled commentary from UBJ readers
RE: CHEESECAKE FACTORY COMING TO HAYWOOD MALL THIS SUMMER
|
ERT
N I C BL DV G E TIT T MI Y FRE E ANALY TIC S A ATION PEN
A D Y R LLE N E M I U M G A M I F I C E O R P G MA ER U EAL-T NIALS MOOC (MASSIV REPU ) VI
F RAT Y VAR GC (USIME ENGAGEMENT NTENT IEN G NG S MEMION VERY) INBEORXGZEENREROABTERDACNOD E XPERSHTA PH ES T TICALS TAKE AWAYS HA GRA O R O LL S CATFISHING INF
, NOT QUANTIT Y
>> WEIGH IN @ THE UBJ EXCHANGE Got something to offer? Get it off your chest. We’re looking for expert guest bloggers from all industries to contribute to the UBJ Exchange. Send posts or blog ideas to eprice@communityjournals.com.
RE: FIRST LOOK: HALLS CHOPHOUSE
1. Cheesecake Factory coming to Haywood Mall this summer
>> 349
2. RealOp adds 2 CRE veterans, closes on $15M fund
>> 285 3. FIRST LOOK: Halls Chophouse
>> 84 4. Tangible Intentions offers marketing for small businesses
>> 56 5. Greer-made Dragoncello liqueur named Good Food Award winner
> Smoak Public Relations “We’re so excited about Halls Chophouse Greenville opening this weekend!” > Stacie Ketner Brubaker “We are going!” > Dwell-Greenville “New Steakhouse opening up this weekend!” > Keith Boling, C. Dan Joyner Realtors “VERY excited about this!”
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> Juli Francis Hunt upstatebusinessjournal.com “No! Who lets this stuff happen? Those local tenants are what make Augusta Rd special. Who needs another shopping center? And please tell me the Chick-fil-A rumor isn’t true.”
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RE: VAUGHN-RUSSELL CANDY MOVES DOWN AUGUSTA
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UPSTATEBUSINESSJOURNAL.COM
01.29.2016
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upstatebusinessjournal.com
DATE
EVENTS YOU SHOULD HAVE ON YOUR CALENDAR
| PLANNER | 27
EVENT INFO
WHERE DO I GO?
HOW DO I GO?
Friday Forum Lunch with Congressmen Trey Gowdy and Mick Mulvaney
Embassy Suites Golf Resort & Conference Center 670 Verdae Blvd., Greenville 12-1 p.m.
Cost: $30 investors, $45 non-investors Register: bit.ly/friforum-jan2016
2/5
Economic Forecast Breakfast Learn economic trends and forecasts from experts
USC Upstate 800 University Way, Spartanburg 8-9:30 a.m.
Cost: $25 Chamber members $35 nonmembers Register: bit.ly/econbreakfst-jan2016
Wednesday
Understanding Intellectual Properties Workshop Learn about intellectual properties and how they could impact you and your small business
NEXT Innovation Center 800 University Way, Spartanburg 8-9:30 a.m.
Cost: $29 Register: piedmontscore.org/ workshops/register/231
2/20
Comprehensive Small Business Start-up Workshop
Greenville County Library, Hughes Branch 25 Heritage Green Place, Greenville 9:30 a.m.-4 p.m.
Cost: $69 (second person, same company, $25) Register: piedmontscore.org/ workshops/register/212
Tuesday
Greenville Chamber Annual Meeting Speaker: Beverly Wyse, vice president and general manager of Boeing, S.C.
TD Convention Center One Exposition Drive, Greenville 5:30 p.m.
Cost: $85 investors, $150 non-investors Register: bit.ly/anmeeting-jan2016
Ten at the Top The Pique Workshop and networking event for young professionals
Clemson One Building 1 N. Main St., Greenville 1:30-5 p.m.
Cost: $26 Register: nvite.com/thePIQUE16/14mzyd
Friday
1/29 Friday
2/17 Saturday
FEATURED
2/23 Monday
3/7
CONTRIBUTE: Got a hot date? Submit event information for consideration to events@upstatebusinessjournal.com. ART & PRODUCTION
IN THIS WEEK’S ISSUE OF UBJ? WANT A COPY FOR YOUR LOBBY?
ART DIRECTOR
FEB. 19 THE TRANSPORTATION ISSUE Getting around in a growing region.
Whitney Fincannon 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
PHOTO COORDINATOR/LAYOUT PRESIDENT/CEO
Mark B. Johnston mjohnston@communityjournals.com
UBJ PUBLISHER
Ryan L. Johnston rjohnston@communityjournals.com
EXECUTIVE EDITOR
Susan Clary Simmons ssimmons@communityjournals.com
MANAGING EDITOR
UBJ milestone
UBJ milestone jackson Marketing Group’s 25 Years 1988 Jackson Dawson opens in Greenville at Downtown Airport
Tammy Smith
1988
ADVERTISING DESIGN Kristy Adair, Michael Allen
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
OPERATIONS Holly Hardin
1997 Jackson Dawson launches motorsports Division
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
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-prof non-profits. The company was recently awarded the Community Foundation Spirit Award. The company reaffirmed its commitment to serving the community last week by celebrating its 25th anniversary with a birthday party and a 25-hour Serve-A-Thon partnership with Hands on Greenville and Habitat for Humanity. JMG’s 103 full-time employees worked in shifts around the clock on October 22 and 23 to help construct a house for a deserving family. As Jackson inches towards retirement, he says he hasn’t quite figured out his succession plan yet, but sees the companies staying under the same umbrella. He wants to continue to strategically grow the business. “From the beginning, my father has taught me that this business is all about our people – both our clients and our associates,” said his son, Darrell. “We have created a focus and a culture that strives to solve problems, serve people and grow careers.” Darrell Jackson said he wants to “continue helping lead a culture where we solve, serve and grow. If we are successful, we will continue to grow towards our ultimate goal of becoming the leading integrated marketing communications brand in the Southeast.”
2011 Jackson marketing Group/Jackson motorsports Group employee base reaches 100 people
2008 2012 Jackson marketing Group recognized by Community Foundation with Creative spirit Award
pro-bono/non-proFit / Clients lients American Red Cross of Western Carolinas Metropolitan Arts Council Artisphere Big League World Series The Wilds Advance SC South Carolina Charities, Inc. Aloft Hidden Treasure Christian School
CoMMUnitY nit inVolVeMent nitY in olV inV olVe VeMent & 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
MARCH 18 THE TECH ISSUE Local technological innovations and revolutions.
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
CLIENT SERVICES Anita Harley, Jane Rogers
EXECUTIVE ASSISTANT Kristi Fortner
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