Mid-Atlantic Carolinas Special Section Mid-Atlantic/Carolinas Special Section of Urban Land magazine April 24, 2012
Hilton Head Island-based real estate attorney and Nexsen Pruet partner, Ed Hughes, talks to Urban Land magazine on the current state and outlook of the commercial and industrial real estate market in South Carolina.
According to the publication, the Mid-Atlantic region and the Carolinas are experiencing growth and steady real estate activity.
Here's an excerpt of what Hughes told the publication:
"Charleston now has the new Boeing assembly plant in operation. In October, Clemson University broke ground for the construction and development of the world's largest wind turbine drive-train test plant," he says. In addition, with the expansion of the Panama Canal, the ports of Charleston and Savannah, Georgia, are preparing for the new, larger Panamax ships that will be able to transit the enlarged canal. "Assuming both ports are successful in expanding their respective harbors, there wil be two Southeast ports within 100 miles of each other, and both being along the 1-95 north-south corridor," he says.
Nexsen Pruet has been involved in a number of transactions involving the purchase and sale of distressed property. "Recently, we handled the acquisition of the Daufuskie Resort assets for an investment group in Salt Lake City, Utah," Hughes says. "These assets included 54-room hotel, golf course, tennis facility, beach club, beach cottages, and some undeveloped parcels."
Read the complete article here.
Ed Hughes focuses his practice in the areas of business law, land use law, real estate development, interstate land sales, banking and creditor's rights and commercial and residential transactions. He is is the immediate past-chair of the Real Estate Practice Group for the firm.