Commercial Real Estate and Mortgage In South Carolina
Article Summary: This article will help anyone looking for information pertaining to a commercial real estate and commercial lending in the State of South Carolina.
South Carolina is a mid Atlantic state that is best known for its beautiful beaches
and world class golf courses that attract locals and visitors all year round.
Tourism is a major industry for South Carolina, but there are many other successful
industries in this rapidly growing state.
The population of South Carolina is just over 4,300,000. The population increased
17.9% between 1990 and 2000 and has increased another 6.1% since 2000. Much
of the influx of people is to the coastal towns and its two
major cities Charleston and Columbia. The per capita income of South Carolina
residents is $28,000.
Those who are looking to lease or purchase South Carolina commercial
real estate for service industries, particularly service industries
that are geared toward families, will do well in the major cities. Charleston
is seeing a lot of residential development, especially with blended communities
where living and community/retail space are built close together. Communities
with town homes, condos and lofts are side by side with trendy retail and service
spaces that house coffee shops, natural food stores, yoga centers and the like
are being developed. That means there will be plenty of commercial real estate
for retail ventures available.
Columbia is a rapidly growing metro area. It is being recognized
by many organizations as a great place for families to relocate and has been
declared one of the thirty most livable communities in America. It is also a
popular retirement community. The housing market is slighly weak, but is being
bouyed by strong demand from an influx of new residents. As in Charleston, there
are many opportunities around the housing developments for commercial real estate
to be used for service oriented businesses that cater to families and senior
citizens.
The recent establishment of the University of South Carolina research campus
near Columbia will bring a lot of commercial real estate opportunities to the
area, also. Research labs, offices, retail and housing are all being built on
the campus and further development opportunities exist around the campus area.
The campus will bring a workforce of educated, well paid consumers to the area,
and retail and service businesses should do well.
Of course, businesses that cater to tourists also occupy much of the commercial
real estate in South Carolina. The popular coastal destination of Myrtle
Beach sees over 14 million tourists each year. Myrtle Beach has 120
golf courses. Commercial real estate is used for lodging, retail, restaurants,
banking, entertainment and other ventures that are geared toward tourists.
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