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Movers & Shakers

Nov 3, 2023

Summerville retail center acquired for $60 million

An affiliate of Northbrook-based Pine Tree, in partnership with London-based Blue Coast Capital, acquired Azalea Square, a market-dominant shopping center in Summerville, for $59.7 million. At 270,000 square feet — not including shadow-anchors Target and Kohl’s — Azalea Square features national retailers TJ Max[...]

Nov 2, 2023

Summerville Medical Center to celebrate launch of construction

Summerville Medical Center will celebrate the launch of its $66.8 million, 56-bed inpatient construction project on Nov. 9 with a ceremony to include signing a steal beam that will be incorporated into the building. The project will increase licensed patient bed count by 40%. The hospital, which has invested more than $200 milli[...]

Nov 2, 2023

The budget deficit why it matters

The budget deficit for fiscal 2023 was $1.7 trillion. Nobody cared. Projected budget deficits for the next 10 years never get smaller and within five years are expected to exceed $2.5 trillion. As a result, the Treasury will add $20 trillion to outstanding debt in the next decade.  The budget deficit for fiscal 2023 was [&h[...]

Nov 1, 2023

National taco chain to open second state location in Mount Pleasant

Condado Tacos is bringing its own entry in the taco game to Mount Pleasant. The restaurant group, based in Columbus, Ohio, specializes in what it calls unique tacos, margaritas and tequilas in a “colorful and energetic atmosphere,” will open its second South Carolina location in Mount Pleasant Towne Center. The first[...]

Oct 4, 2023

Privately held Charleston bank unveils new corporate headquarters

Beacon Community Bank, a privately held community bank founded in Charleston, has opened its new two-story headquarters and branch at 2347 Highway 17 North in Mount Pleasant. This is the sixth branch opening in six years in the Charleston tri-county area for the financial institution, according to a news release. “This is [...]

Oct 3, 2023

HOT PROPERTIES: Space leased at 18 Broad in Charleston

Jeremy Willits and Gerry Schauer of Avison Young represented the landlord, 18 Broad LLC, in the lease of 550 square feet of office space at 18 Broad St. in Charleston. Hot Properties highlights recently sold or leased commercial properties in the Charleston region. Send in your transactions using our online form. Other area comm[...]

Oct 3, 2023

Charleston manufacturer breaks ground on $30 million expansion

A Charleston-based manufacturer has begun work on a $30 million expansion project. Mankiewicz Coatings has partnered with Choate Construction Co. on a 100,000-square-foot expansion to double its operations in Charleston — the third significant investment from the company in less than 15 years, according to a news rele[...]

Oct 2, 2023

Tech company to build 200K-square-foot data center in Berkeley County

A digital infrastructure company has purchased land in Berkeley County for the construction of a new data center. DC Blox, a provider of data centers, dark fiber, cable landing stations and connectivity solutions focused on the Southeast, recently completed the purchase from Santee Cooper of 27.5 acres in Berkeley County, with p[...]

Sep 28, 2023

Near-term economic environment weakens

At its most recent meeting the Federal Reserve left the funds rate unchanged at 5.5%.  While the Fed may not have raised the funds rate, the bond market significantly raised every other interest rate across the entire maturity spectrum.   In addition to Fed action, it depends on how quickly the inflation rate[...]

Sep 28, 2023

Charleston construction company announces $13M HQ expansion

Frampton Construction, a full-service construction firm, is growing its regional headquarters with an expansion in Charleston County. The $12.9 million investment will create 69 new jobs, according to a news release. Wanting to remain in Ladson but needing more space, Frampton Construction purchased land and built a 40,000-squar[...]

Sep 28, 2023

Construction begins on build-to-rent project in Charleston

A 71-home build-to-rent community is going up on the Savannah Highway in the West Ashley area of Charleston. Trilogy Investment Co., an integrated land development company and national provider of build-to-rent housing communities, began vertical construction at Villas at the Creek, a Reve Community on 10 acres of[...]

Sep 28, 2023

Frannie & The Fox opens new bar in downtown Charleston

Frannie & The Fox, a wood-fired eatery in downtown Charleston, has opened a new bar that operators describe as “not just a bar but rather an unexpected gathering place greeting guests with great drinks, wily company and hidden adventure.” Called The Den will offer cocktails as well as specialty dishes and caviar [...]