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Greenville
Makes List of Top 20 Housing Market
List includes seven areas in Carolinas
By
Angelia Davis • GREENVILLE NEWS • March 7, 2010
The Greenville-Mauldin-Easley metropolitan
area is expected to be one of the nation’s “front-runners” in
the housing recovery this year. Builder magazine’s
online version ranked the Greenville-Mauldin-Easley metropolitan
statistical area 19 in its listing of top 20 healthiest markets
in the nation for 2010. Greenville was cited for, among other
things, affordable housing, strong population growth and its
position on Interstate 85 between Atlanta and Charlotte. Nick
Sabatine, chief executive officer of the Greater Greenville
Association of Realtors, said the article states what people
in Greenville have already known but what other areas are now
finding out. “This is a healthy housing market,” Sabatine
said. “We didn’t have the tremendous declines that
other markets had, so we’ve been pretty healthy all along.
We just remind everyone that it’s going to be a slow,
steady recovery, but it’s going to recover.” Micheal
Dey, executive vice president of the Home Builders Association
of Greenville, said he would like the region to be in the top
10, but the ranking at 19 “tells me we still have some
challenges we’re being faced with in the Greenville market,
compared to some of the other markets in the Carolinas.” Dey
said the report also shows that Greenville didn’t have
runaway value appreciation and has been a relatively stable
marketplace. “We certainly built more houses than the
market was demanding for a while, but compared to some of the
other markets in the country, we were very conservative here,” he
said. “The marketplace has absorbed the product here
relatively quickly, which is good news.”
Building permits from the fourth quarter
of 2009 were one of the factors the magazine used for its ranking. Greenville
had a 13 percent increase in total building permit activity in
the fourth quarter of 2009, the article said. The Greenville-Mauldin-Easley
area had 1,591 building permits in 2009, the article said. It
is forecast to grow to 1,918 this year. Bob Mihalic, spokesman
for Greenville County, said while there has been some improvement
in county building permits during the first two months of this
year, “it usually takes a couple more months of growth
to truly indicate that there’s some positive news out there.” The
Greenville-Mauldin-Easley area was one of seven “relatively
hot markets” in the Carolinas that accounted for seven
of the magazine’s top 20 listings. The Myrtle Beach-North
Myrtle Beach-Conway area ranked 15 on the list, while the Charleston-North
Charleston-Summerville area came in at fifth. Mark Nix,
executive officer of the Home Builders of South Carolina, said
Charleston has done a very good job at bringing jobs to the market,
especially with the new Boeing plant and its ripple effects. Nix
said Myrtle Beach, a “mecca” for tourism, is continuing
to attract a lot of new residents from other parts of the country.
He said getting people happy and thriving in South Carolina is
tied to jobs, quality of life and affordable housing. Builder
magazine’s market research arm, Hanley Wood Market Intelligence,
expects employment in Greenville to show a 1.1% gain in total
employment this year.
About Magnolia Park
Located in Greenville, South Carolina, the
Magnolia Park Campus currently consists of approximately 700,000
square feet of existing retail space anchored by the top performing
Regal Cinemas in North and South Carolina, Sports Authority,
Rooms To Go, Coscto Wholesale Club, Bed Bath & Beyond,
and Old Navy. Menin is in the process of leasing the remaining
150,000 square feet of existing available space comprised of
a former two-level department store box and existing mall space.
In addition, future development at Magnolia Park will consist
of an additional 400,000 square feet of retail, 375,000 square
feet of office, and one or two hotels. Magnolia Park is located
on Woodruff Road at the intersection of I-85 and I-385, the
dominant commercial cooridor in the region with the area's
highest traffic counts.
For leasing information please contact
Marc Yavinsky at (561) 282-5715 or myavinsky@menindevelopment.com
About Menin Development
Menin Development, Inc. is a privately held owner, developer,
and manager of commercial real estate properties. Founded
by Craig I. Menin in 1985, the company is headquartered in
Palm Beach, Florida. Menin, the developer and owner of over
$1 billion of prime retail properties throughout the Southeast,
has a current portfolio of 800,000 square feet of existing,
high-quality, community and grocery-anchored centers as well
as another 2.1 million square feet under development. Throughout
its history, Menin has acquired and/or developed in excess
of 3 million square feet in Florida, Virginia, North Carolina,
Louisiana and Tennessee. Principals of Menin Development,
Inc. are Craig I. Menin, Chief Executive Officer; Robert
C. Jacoby, Chief Operating Officer; and Marc T. Yavinsky,
Executive Vice President.
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