SC Health-Care Metrics Remain Healthy As Development Increases

Health care-related spaces in South Carolina performed well in the first quarter of 2024, according to a Colliers report.

But the report said new supply remains limited.

Colliers said performance metrics were stable as health care continues to expand across the state.

It also said new construction and retrofitting projects increased due to the elimination of the Certificate of Need requirement.

Colliers said despite the delivery of 32,622 square feet, vacancy remained at 3.6 percent as 32,204 square feet were absorbed.

Overall lease rates increased to $28.95 per square foot with 160,922 square feet under construction.

Development interest continues to increase on raw land in and around the central business districts, Colliers said.

The report said the tightening supply across South Carolina has also begun to force users to retrofit office and retail spaces for health-care uses.

And Colliers said that as a result of the elimination of the Certificate of Need requirement, the state has begun to experience an increase in “for profit” entities entering the primary markets, which is expected to further improve health-care market performance.

Colliers | South Carolina is the largest full-service commercial real estate firm in South Carolina with 62 licensed real estate professionals covering the state with locations in Charleston, Columbia, Greenville and Spartanburg.

Tradd Advisory Company Expands Operations In Charleston County

Tradd Advisory Company, a freight transportation services provider, announced the expansion of its operations in Charleston County.

The company’s $88,800 investment will create 100 jobs in the next five years, according to Gov. Henry McMaster’s office.

Established in 2018, Tradd is a third-party logistics provider that advises agents, clients and carriers on the most effective strategies for handling freight transportation.

The company works with a network of over 93,000 carriers and offers service options for moving all types of cargo.

Tradd recently expanded into its first established office space in the Harbor Entrepreneur Center, 11 Ewall St. in Mount Pleasant.

Operations are online. Those interested in joining Tradd should email resumes to [email protected].

“All of us at Tradd are committed to cultivating the best of what the logistics industry has to offer in terms of service, delivery, and most importantly, an exciting place to work,” said Tradd Advisory Company owner and CEO Stephen Scates.

Said Charleston County Council Chairman Herbert Ravenel Sass III: “Their mission aligns perfectly with Charleston County’s commitment to shaping its global future as a major logistics center."

Carolinas Survey of Business Activity

Business activity in the Carolinas improved in April, according to the most recent survey from the Federal Reserve Bank of Richmond.

The general business conditions index increased, and the corresponding expectations index remained unchanged.

The sales index increased notably, and its corresponding expectations index remained firmly in positive territory.

The employment index edged up while the wages index decreased slightly, and firms reported little improvement in their ability to find workers with the necessary skills.

Most firms expect wages to continue increasing over the near-term and anticipate little improvement in their ability to find workers with the desired skills over the next six months.

Average year-over-year growth in prices paid decreased slightly in April, while average growth in prices received increased slightly.

Firms expect price growth to moderate somewhat over the next year.

Breeze Airways Announces Three New Routes From Myrtle Beach International Airport

Breeze Airways announced a route expansion from Myrtle Beach International Airport (MYR).

Beginning in June, the airline will launch three new nonstop routes between MYR and Akron-Canton, Ohio; Wilkes-Barre/Scranton, Pennsylvania; and Westchester County, New York.

The new routes will bring Breeze Airways' total number of destinations offered at MYR to seven, with flights also available to Charleston, West Virginia; Hartford, Connecticut; Providence, Rhode Island; and Tampa, Florida.

Akron-Canton, OH (CAK) - Starts June 22, 2024 - 2x weekly.

Wilkes-Barre/Scranton, PA (AVP) - Starts June 20, 2024 - 2x weekly.

Westchester County, NY (HPN) - June 20, 2024 - 4x weekly.

Introductory fares on the new routes start from $39 one-way if purchased by April 30 for travel by Jan. 7, 2025.

For more information or to book a flight, go to www.flybreeze.com

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