Market Spotlight Columbia, South Carolina
Susan Dorr

The City of Columbia and Richland County recently announced a framework to stimulate commercial real estate investment, with a focus on projects that exceed $30M in taxable investment and incorporate public infrastructure as part of the project. This plan addresses the demand for increased residential, restaurants, commercial, and retail offerings to a city that is seeing an increase in the number of millennials moving to the city.  

 

The Northeast Columbia area is one of the fastest growing areas in Greater Columbia, in part, due to its easy access to Route 277, three major interstates and Fort Jackson. Large companies have offices in the Northeast, including Blue Cross Blue Shield, RBMG and Bose.  

 

McWhirter Realty Partners manages Columbia Northeast, a medical office building anchored by Prisma Health, conveniently located off I-20.  

 

For more information on this property, please contact us at 770-955-2000. 

 

Lease Analysis

Peyton McWhirter

Commercial leases have become more and more complex.  When assisting a client with a leasing decision that involves more than one option, it is important to dive into he details and prepare a true “apples to apples” comparison of each.  Over the lease term, many factors should be taken into consideration such as escalations, operating expenses, caps, abated rent, additional fees and tenant improvements costs.

 

Once the annual occupancy costs are determined, a time value of money analysis should be prepared in order to determine the true cost over the time period of the lease transaction weighing the timing of cash outlay, after a discount rate.  Since the discount rate will greatly impact the outcome of this analysis, having input from the owner is necessary to determine their cost of capital.



Using this methodology provides the owner with a solid financial model in order to make an informed decision. 

 

Protect Your Building from Extreme Weather in Any Season
Greer Hughes

Every commercial and industrial facility is vulnerable to damage from weather including snow, extreme heat, rain and high winds. Exposure to these elements break down the commercial structure, making the building’s exterior look worn and potentially leading to interior damage as well.

 

Here are four key areas to check regularly:

 

Roof: The roof is the most common area for water damage. Once water penetrates a building’s surface, moisture remains inside the roof, walls, or flooring, leading to decay. In extreme cases, this decay can lead to cracks and gaps in exterior surfaces, risking significant structural damage.

 

Insulation: The right type of Insulation not only reduces energy costs for heating and cooling, but makes a building more resistant to moisture, mold, mildew and fire. 

 

Foundation: Considering it supports the entire building, the foundation is critical to a building’s safety. Prevent foundation issues by ensuring water drains away from the building, proper grading, new or existing concrete structures draw water away from the building, and regularly inspect the foundation for signs of damage.



Landscaping: Plant trees and shrubs at least 3 – 10 feet away from the building to prevent roots from growing into the foundation and to ensure they don’t reach the eaves when fully mature. Trim branches and limbs from hanging over the roof. Leave a one-foot area between the foundation and mulch to prevent moisture and insects from eroding the foundation.

 

Property Accounting For Managed Properties
Bill Roden

When managing properties for owners, it is important to understand the needs of the client’s accounting requirements.

 

Accounting for owners can be either on a cash or accrual basis—the simplest requirements being a balance sheet, income statement, general ledger and statement of changes in cash.  Understanding basic accounting is a minimum requirement to meet the needs of this class of owners.

 

Providing accounting services for a hospital becomes more complex and requires an understanding of how certain expenses, including lease expense, affects their balance sheet and/or income statement.  Providing the correct format is also important so that the integration of property information is consolidated into the parent company’s financials.

 

Accounting for public companies is more complex and requires an understanding of how expenses, including capital expenses, affect funds from operations (FFO) and involves more scrutiny.  Public companies follow certain accounting standards and SEC requirements.  It is important to follow their guidelines and policies to prevent errors in their required security filings. 



When selecting a management firm to perform accounting functions, an owner must be diligent and ask questions to assure the firm is capable of understanding their accounting needs.  

Property Spotlight

FOR LEASE: Retail Space 

929 Joe Frank Harris Parkway

Cartersville, GA 30120

 

Property Details

Gross Leasable Area: 81,042± sf

Availability: 1,050± - 2,800± sf available

Lot Size: 8.6± acre lot

Parking: 361 parking spaces

Year Built: 1987

Traffic Count: 43,600 cars per day

 

Tenants:

Goodwill, Aaron’s, H&R Block, restaurants and retail