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Can you have too much company stock?

in Business/Contributors/Wells Fargo by

Many companies offer their employees a stock purchase plan, enabling them to purchase company stock at a discounted price and invest in the company they work for. 

While this can be a great way to invest in the stock market, as an investor you need to question whether it’s good to load up too much on your company’s stock — or any company’s stock, for that matter. 

Investing in your company may be a good idea, but you need to make sure you set some guidelines and strategies to diversify your holdings not only among individual stocks other than your company’s, but among industry sectors as well. 

Although diversification does not ensure a profit or protect against loss, doing so may help reduce the effects of the price fluctuations that will undoubtedly occur in your portfolio. 

As you decide whether to participate in your employer’s stock purchase plan, keep in mind that owning too much of any single stock is rarely a good idea. While you may be confident of your company’s prospects for success or you want to demonstrate your loyalty to your employer, you need to recognize that you may take on additional risk if you don’t diversify. 

Also, as you evaluate your holdings, don’t overlook the potential danger in concentrating your investments within one industry, even if you spread your investments among several stocks in that industry. Oftentimes when bad news hits one stock in an industry, it can also have a similar impact on other companies within the same sector. 

So, how can you help reduce the risk in your portfolio? One way to help protect yourself is to diversify your portfolio among several stocks. In addition to your company’s stock, you should try to broaden your equity holdings to include 20 to 30 stocks in at least six to eight industry sectors with different investment characteristics. 

Keep in mind that no more than 25 percent of your total portfolio value should be invested in any one sector. 

Another good rule of thumb is to have no more than 15 percent of your total portfolio — including investments in your 401(k) and IRA — invested in one single stock. 

You should strive to maintain a balanced asset allocation with not only stocks in different industries but also bonds and other investment vehicles as well. Keep in mind that an investment in stocks will fluctuate in value and when sold might be worth more or less than the original investment.

Once you have reviewed your portfolio and evaluated your investment objectives, you may realize that you have a “concentrated position” — that is, you have too much of your holdings in a single stock or you are heavily invested in a single industry sector. If this is the case, it is a good idea to contact a financial advisor and discuss strategies for reducing your concentrated holdings. 

There are a variety of strategies that can help you reduce the risk involved in having concentrated positions in both taxable and tax-deferred accounts.

Your investment objectives, risk tolerance and time horizon will help dictate the appropriate asset balance for your financial situation. 

Because each and every investor has different investment needs, seeking professional assistance is usually the best alternative to avoid keeping your eggs all in one basket.

This article was written by/for Wells Fargo Advisors and provided courtesy of Whitney McDaniel, financial advisor in Beaufort at 843-524-1114.  

Any third-party posts, reviews or comments associated with this listing are not endorsed by Wells Fargo Advisors and do not necessarily represent the views of Whitney McDaniel or Wells Fargo Advisors and have not been reviewed by the Firm for completeness or accuracy.

Investments in securities and insurance products are not FDIC insured and may lose value.

Limited listings impact real estate market

in Business by

By Janet Gresham

Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. 

Although desirous buyers are out on an increasing number of showings, there is a limited number of desirable listings in Beaufort County. 

And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving.

For September, New Listings were down 24.9 percent to 145. Pending Sales decreased 27.3 percent to 112. Inventory grew 5.2 percent to 972 units.

Prices moved higher as Median Sales Price was up 4.6 percent to $215,000. Days on Market increased 13.8 percent to 91 days. 

Months Supply of Inventory was up 10 percent to 5.5 months, indicating that supply increased relative to demand.

Last year at this time, the national storyline was about how high demand was propping up sales and prices despite low inventory and months of supply. 

That has actually continued to be a familiar refrain for many months in 2017 and now for the past couple of years. 

But with the likes of Hurricanes Harvey and Irma, different employment outlooks, disparate incomes, varying new construction expectations and potential housing policy shifts, regional differences are becoming more prevalent and pronounced.

Janet Gresham is the CEO of the Beaufort County Association of Realtors and the Beaufort Multiple Listing Service Inc.

Chamber Corner for November 16th-22nd

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Networking event coming to United Way

Coffee with Colleagues, a networking event sponsored by the Beaufort County Regional Chamber of Commerce, will be held from 8:30-9:30 a.m. Friday, Nov. 17, at the United Way of the Lowcountry at 1277 Ribaut Road in Beaufort.

Email LaNelle Fabian at lanelle@beaufortsc.org for more information. 

Oyster roast, networking on tap at chamber event

The Beaufort Regional Chamber of Commerce is holding a Business After Hours from 5:30-7 p.m. Thursday, Nov. 16, at Beaufort Academy at 240 Sams Point Road.

There will be an oyster roast by Sea Eagle Market, music by the Clustershucks, beverages and networking. This event is free for chamber members and Beaufort Academy parents, and $5 for guests. Register at beaufortchamber.org.

Business for Breakfast offers various programs

The Beaufort Regional Chamber of Commerce and SC LowCountry SCORE Chapter will hold a Business for Breakfast Series for Small Businesses on Wednesdays at the chamber offices at 701 Craven St.

Upcoming programs include:

• Dec. 13: Year End Tax Strategies

Visit beaufortchamber.org.

Chamber Corner for November 9th-16th

in Business by

Networking event coming to United Way

Coffee with Colleagues, a networking event sponsored by the Beaufort County Regional Chamber of Commerce, will be held from 8:30-9:30 a.m. Friday, Nov. 17, at the United Way of the Lowcountry at 1277 Ribaut Road in Beaufort.

Email LaNelle Fabian at lanelle@beaufortsc.org for more information.

Business for Breakfast offers various programs

The Beaufort Regional Chamber of Commerce and SC LowCountry SCORE Chapter will hold a Business for Breakfast Series for Small Businesses on Wednesdays at the chamber offices at 701 Craven St. in Beaufort.

Upcoming programs include:

• Dec. 13: Year End Tax Strategies

• Jan. 10: Click Click Click: Using Social Media

• Feb. 14: I Did What? – Hiring Without Tears

• March 14: Building a Successful Brand

• April 11: Retailing Strategies in an Amazon World

• May 9: Riddle Me This, Money Man –Financial Statements Made Simpler

Visit www.beaufortchamber.org to register.

Beaufort Academy to host networking event

The Beaufort Regional Chamber of Commerce will host a networking event from 5:30-7 p.m. Thursday, Nov. 9, at Beaufort Academy at 240 Sams Point Road on Lady’s Island.

This is an opportunity to network while enjoying food and beverages.

This event is free for chamber members and Beaufort Academy parents, and $5 for guests.

Email lanelle@beaufortsc.org.

Business briefs for November 9th-15th

in Business by
tucker

Photo above: American Legion Beaufort Post 9 is striving to promote both patriotism and businesses in the Beaufort area by calling attention to those that proudly display the U.S. flag at their location. Post 9 presents those enterprises with a framed certificate thanking them. Here Post 9 Vice Commander Dick Jennings presents Tommy Tucker of Tucker Dry Cleaners a Certificate of Appreciation for displaying the U.S. flag. Photo provided.

Live Oak Builders receives awards

LOB Exterior Front

Live Oak Builders, a custom home builder in Beaufort and the Sea Islands, won several awards at the 18th Annual Lighthouse Awards Gala, held recently at the Hilton Head Marriott Resort & Spa.

“The Lighthouse awards are truly like the Academy Awards for our building industry,” said Dan Monroe, chairman of the Lighthouse Awards program since its inception. “It gives builders the opportunity to be recognized for the hard work, talent and vision they put forward in building some of the most remarkable homes in this area and beyond.”

Live Oak Builders submitted a recently completed new home located on Dataw Island.  

The design is called “Tideland Haven” and is a popular Southern Living style. It was designed by Historical Concepts LLC and further customized for the owners by Our Town Plans LLC.

The construction costs for new homes and remodeled homes entries ranged from $125,000 to $3.5 million. Subdivided into categories, each entry competed against similar price range and construction scope.

Live Oak Builders’ received awards for “Best Kitchen,” “Best Exterior,” and “Best Overall.”

“The owners were an absolute pleasure to work with. The custom elements they chose to add to this already stunning design put this house in a league of its own,” said Todd Bradley, owner of Live Oak Builders.

A fourth award for Best Brochure/Marketing Piece was presented to Live Oak Builders for its “Welcome Package.” Designed, developed and executed by Terry Rice, of TR Marketing, the package consists of special offerings from local businesses that homeowners may find helpful as they settle into their new home in the Lowcountry.   

“As a small business owner, I’ve had this idea for some time, but was unable to act on it. With Terry on board for marketing and communications, I knew she could make it happen,” said Todd.

Live Oak Builders’ Design and Remodeling Center is located at 1402 Boundary St.  Call 843-524-2343, email  liveoakbuilders@embarqmail.com; or visit www.liveoakbuilder.com.

Coca-Cola to construct local distribution center

Coca-Cola Consolidated has announced plans to construct a new $5 million sales and distribution center at the Cypress Ridge Industrial Park in Ridgeland. 

The company will be bringing 45 existing jobs with the operation and creating at least 20 new jobs.

“Coca-Cola has been an important partner to our state for a long time – employing over 1,200 South Carolinians. Every time a company like Coca-Cola decides to invest in South Carolina, it shows the world that there is no company too big or too small to find success here,” said Gov. Henry McMaster.

Coca-Cola Consolidated has seven locations in South Carolina and employs more than 1,200 people in the state. 

The new facility will handle sales and distribution of Coca-Cola products throughout Allendale, Bamberg, Beaufort, Colleton, Hampton and Jasper counties.

The company will be locating its operations in the Cypress Ridge Industrial Park’s Speculative Building in Ridgeland.

For more information, visit www.cokeconsolidated.com.

Fridays @ the Corridor: Doing business in mobile world

You don’t have to look far before you’ll see someone walking around with their nose buried in their phone. People use their phones all the time, whether it be to shop or find a spot to grab a bite to eat and then shop some more.

At the November Fridays @ the Corridor event, Steven Scarborough, senior UX designer for Gulfstream, will discuss the importance of catering your website and online presence to the mobile customer.

This one-hour interactive forum, meant to engage and inform Beaufort’s knowledge-based community, will be held at 8:30 a.m. Friday, Nov. 10.

Attendance is limited to 25 guests, with priority seating for Digital Corridor members. 

The nonmember fee is $10 and can be paid by cash or check at the door.

Metered and free street parking is available in and around BASEcamp at 500 Carteret St.

RSVP to fridays@beaufortdigital.com.

Business briefs and Chamber Corner for November 2nd-8th

in Business by
hobbit hill

Photo above: American Legion Beaufort Post 9 is striving to promote both patriotism and businesses in the Beaufort area by calling attention to those that proudly display the U.S. flag at their location. Post 9 presents those enterprises with a framed certificate thanking them. Here, Post 9 Vice Commander Dick Jennings presents Laurie Woods, staff and children of Hobbit Hill Preschool with a Certificate of Appreciation for displaying the U.S. flag.

Fridays @ the Corridor: Doing business in mobile world

You don’t have to look far before you’ll see someone walking around with their nose buried in their phone. People use their phones all the time, whether to shop or find a spot to grab a bite to eat and then shop some more.

At the November Fridays @ the Corridor event, Steven Scarborough, senior UX designer for Gulfstream, will discuss the importance of catering your website and online presence to the mobile customer.

This one-hour interactive forum, meant to engage and inform Beaufort’s knowledge-based community, will be held at 8:30 a.m. Friday, Nov. 10.

Attendance is limited to 25 guests, with priority seating for Digital Corridor members. 

The nonmember fee is $10 and can be paid by cash or check at the door.

RSVP to fridays@beaufortdigital.com.

Cook on Bay to hold grand opening

Cook on Bay will celebrate its grand opening with a ribbon cutting and a party from 4-7 p.m. Friday, Nov. 3, during First Friday in Downtown Beaufort.

The public is invited to stop in and meet the owners and enjoy some complimentary food, beverages and wine; along with prizes, product and gift certificate giveaways and lots more including a drawing for the grand prize, a mini Big Green Egg.

Cook on Bay is located at 720 Bay St. in downtown Beaufort.

Business for Breakfast covers variety of topics

The Beaufort Regional Chamber of Commerce and SC LowCountry SCORE Chapter will hold a Business for Breakfast Series for Small Businesses on Wednesdays at the chamber offices at 701 Craven St.

These events are free for chamber members and $15 for nonmembers.

The schedule is as follows:

• 8:30-10:30 a.m., Wednesday, Nov. 8: Government Contracting 101 for Small Businesses: This two-hour program will provide attendees with the basics of small business federal government contracts. Part One will be an overview of small business government contracting, including prime and subcontracting assistance programs, obtaining SBA certification generally, and obtaining certifications as minority-, women- and veteran-owned small business.

Part Two will be about identifying government contracting opportunities for small businesses, (including minority-, women- and veteran-owned businesses) to sell to the government.

Part Three will be about successfully bidding for federal contracts by small businesses, minority-, women- and veteran-owned businesses.

Coffee and breakfast will be provided.

Visit www.beaufortchamber.org to register. for the program.

Beaufort hosts celebration for Lynn Monday Home

The Lynn Monday Home will celebrate its grand opening in downtown Beaufort at 701 Bay St.

The event will be held from 4-7 p.m. Tuesday, Nov. 7, with a ribbon cutting ceremony at 4:15 p.m.

Lynn Monday Home is a lifestyle brand dedicated to home decor and gracious entertaining. Through Lynn Monday’s design, clients can bring the sophisticated style of Lynn’s point-of-view into their personal space. Regular trade hours began on Oct. 28. Store hours are from 10 a.m. to 5 p.m. Monday-Saturday.

To learn more about Lynn Monday Home, visit LynnMondayHome.com.

For more information, visit www.beaufortchamber.org or call 843-525-8500. 

Networking event coming to BA

The Beaufort Regional Chamber of Commerce will host a networking event from 5:30-7 p.m. Thursday, Nov. 9, at Beaufort Academy at 240 Sams Point Road on Lady’s Island.

This is an opportunity to network while enjoying food and beverages.

This event is free for chamber members and Beaufort Academy parents, and $5 for guests.

Email lanelle@beaufortsc.org.

Several options for estate plans and charitable giving

in Business by

Charitable giving can play an important role in many estate plans. Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax and reduce the amount of taxes your estate may owe when you die.

There are many ways to give to charity. You can make gifts during your lifetime or at your death. You can make gifts outright or use a trust. You can name a charity as a beneficiary in your will, or designate a charity as a beneficiary of your retirement plan or life insurance policy. Or, if your gift is substantial, you can establish a private foundation, community foundation or donor-advised fund.

Making outright gifts

An outright gift is one that benefits the charity immediately and exclusively. With an outright gift you get an immediate income and gift tax deduction.  Make sure the charity is a qualified charity according to the IRS. Get a written receipt or keep a bank record for any cash donations, and get a written receipt for any property other than money.

Will or trust bequests

These gifts are made by including a provision in your will or trust document, or by using a beneficiary designation form. The charity receives the gift at your death, at which time your estate can take the income and estate tax deductions.

Charitable trusts

Another way for you to make charitable gifts is to create a charitable trust. You can name the charity as the sole beneficiary, or you can name a non-charitable beneficiary as well, splitting the beneficial interest (this is referred to as making a partial charitable gift). 

The most common types of trusts used to make partial gifts to charity are the charitable lead trust and the charitable remainder trust.  

There are expenses and fees associated with the creation of a trust.

Charitable lead trust

A charitable lead trust pays income to a charity for a certain period of years, and then the trust principal passes back to you, your family members or other heirs. The trust is known as a charitable lead trust because the charity gets the first, or lead, interest.  

A charitable lead trust can be an excellent estate planning vehicle if you own assets that you expect will substantially appreciate in value. If created properly, a charitable lead trust allows you to keep an asset in the family and still enjoy some tax benefits.

Charitable remainder trust

A charitable remainder trust is the mirror image of the charitable lead trust. Trust income is payable to you, your family members or other heirs for a period of years, then the principal goes to your favorite charity. 

A charitable remainder trust can be beneficial because it provides you with a stream of current income — a desirable feature if there won’t be enough income from other sources.

Private family foundation

A private family foundation is a separate legal entity that can endure for many generations after your death. You create the foundation, then transfer assets to the foundation, which in turn makes grants to public charities. You and your descendants have complete control over which charities receive grants.

But, unless you can contribute enough capital to generate funds for grants, the costs and complexities of a private foundation may not be worth it.  

A general guideline is that you should be able to donate enough assets to generate at least $25,000 a year for grants.

Community foundation

If you want your dollars to be spent on improving the quality of life in a particular community, consider giving to a community foundation. Similar to a private foundation, a community foundation accepts donations from many sources, and is overseen by individuals familiar with the community’s particular needs, and professionals skilled at running a charitable organization.

Donor-advised fund

Similar in some respects to a private foundation, a donor-advised fund offers an easier way for you to make a significant gift to charity over a long period of time. 

A donor-advised fund actually refers to an account that is held within a charitable organization.  

The charitable organization is a separate legal entity, but your account is not — it is merely a component of the charitable organization that holds the account.  

Once you transfer assets to the account, the charitable organization becomes the legal owner of the assets and has ultimate control over them. You can only advise — not direct — the charitable organization on how your contributions will be distributed to other charities.

This article was written by Broadridge, an independent third party, and provided to you by Arthur Levin, managing director, at TLS Wealth Management of Raymond James. Levin is a financial advisor with Raymond James & Associates, Inc., 305 Carteret St., Beaufort. He can be contacted at 843-379-6100 or arthur.levin@raymondjames.com. Visit www.tlswealthmanagement.com.

This information was developed by Broadridge, an independent third party. It is general in nature, is not a complete statement of all information necessary for making an investment decision, and is not a recommendation or a solicitation to buy or sell any security. 

Business briefs for October 26th-November 1st

in Business by
flag

Photo above: American Legion Beaufort Post 9 is striving to promote both patriotism and businesses in the Beaufort area by calling attention to those that proudly display the U.S. flag at their location. Post 9 presents those enterprises with a framed certificate thanking them. Here, Post 9 Vice Commander Dick Jennings presents Haley Roberts of Clay Stanley Custom Homes a Certificate of Appreciation for displaying the U.S. flag. Photo provided.

New business helps keep traveling kids busy 

Theresa Duncan has created a business called Air Craft that sells craft kits filled with age specific craft, colored pencils, stickers, coloring book and other supplies that will entertain children ages 3 to 10 while en route to their destination.

Each kit resembles a suitcase that children can carry, and they are filled with three crafts for kids, as well as an adult craft. The kits are sized to easily fit on top of airline tray tables and can store all of the supplies while the child is crafting. All of the materials are TSA-approved.

The idea for the craft-in-a-box came easily to Duncan who travels frequently while her husband serves in the U.S. Navy.

“I want to help families shift away from, or limit, screen time and instead have kids and parents connect with their inner creativity through crafts,” Duncan said. “There is tremendous value in having kids use their imagination to transform raw materials into a craft of their own.”

Duncan is trying to raise $15,000 on Kickstarter to get Air Craft off the ground (pun intended). 

Kickstarter helps creative professionals find the resources and support they need to make their ideas a reality.

“Our ultimate goal is to sell in airports and be easily accessible when families are beginning or coming home from an adventure,” Duncan said.

For more information, visit letsaircraft.com or visit the Kickstart campaign at kck.st/2xS85k7.

Cook on Bay to hold grand opening

Cook on Bay will celebrate its Grand Opening with a ribbon cutting and a party from 4-7 p.m. Friday, Nov. 3, during First Friday in downtown Beaufort.

The public is invited to stop in and meet the owners and enjoy some complimentary food, beverages and wine, along with prizes, product and gift certificate giveaways and lots more including a drawing for the grand prize, a mini Big Green Egg.

Cook on Bay is located at 720 Bay St. in downtown Beaufort.

Digital corridor offers help to business people

Want to work alongside like-minded people and check out what’s going on at Beaufort Digital Corridor’s BASEcamp?

Coworking @ The Corridor will be held from 8 a.m. to 5 p.m. Friday, Oct. 27.

Spend the day working out of BASEcamp, Beaufort’s business incubator and co-working office. Pick a desk, settle in and check out the BDC community.

High-speed Wi-Fi and access to conference space is included. No RSVP is necessary; walk-ins are welcome.

The Beaufort Digital Corridor is at 500 Carteret St., Suite D, Beaufort.

What’s covered in condo unit owner’s insurance?

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By State Farm

Your condo is more than a roof over your head: It’s your home. So make sure you understand insurance basics and coverage options for your unit.

Lender requirements

Most mortgage lenders require proof of condo unit owners insurance before they approve a purchase. If you’re in the market for a condo unit, contact an insurance representative right away to get the process started.

Price factors

Your condo unit owner policy’s price, or premiums, depends on the amount of coverage, the deductible (the cost the policyholder must pay before insurance payments begin) and any applicable discounts and charges. 

Less coverage and a high deductible mean lower premiums. More coverage and a low deductible mean higher premiums. 

A knowledgeable insurance agent can help you find the right balance for your home and family.

Master policy, unit policy

Generally, a condo association insures the building and common elements under a single policy, called the master policy. This policy typically provides one of three kinds of coverage:

• The basic building (walls, roof, floors, elevators), but not unit items (such as appliances, carpeting, cabinets, wall coverings) and in some cases not interior walls.

• The basic building and unit items, but not unit additions, alterations or improvements made by you at your expense.

• The basic building and unit items, including additions, alterations and improvements.

When a master policy is in place, you will need to purchase an individual policy to cover the items and changes in your unit not covered by the association master policy, including your personal property, personal liability and assessments made against all members of the association. 

You may also want to consider coverage for damage to your unit not compensated because of the master policy deductible.

Keep in mind that unit owner insurance responsibilities can vary widely. For example, some associations may have no master policy, which shifts the responsibility for insuring the structure to the unit owners. 

Review your building’s insurance documents and bylaws with a qualified agent early in the purchasing process to make sure you comply with all requirements and purchase adequate coverage for your home.

Other unit policy coverage

A typical condo unit owner policy also includes coverage for several other common items and situations:

• Personal property: In most cases, condo unit owners are responsible for insuring their possessions against theft, damage or loss. Personal property coverage insures your clothes, furniture, electronic equipment and other household items for their replacement value or their actual cash value (original price minus depreciation). Your property is usually covered whether it is in the unit or you have it with you when you are away from home.

• Loss of use: This coverage applies if you temporarily have to live elsewhere because your condo was made uninhabitable by a fire or other covered peril. The policy will reimburse you for the portion of hotel bills, meals, laundry and other living expenses that exceed what you would pay if you were living in your home.

• Personal liability: Liability coverage protects you if others make a claim or bring suit against you for physical injuries, bodily injury or property damage for which you are responsible. It also provides protection if you or a family member causes damage to others’ property. Some policies will pay for defense and court costs, in addition to settlement costs. 

The information in this article was obtained from various sources not associated with State Farm. 

These suggestions are not a complete list of every loss control measure. The information is not intended to replace manuals or instructions provided by the manufacturer or the advice of a qualified professional. 

State Farm makes no guarantees of results from use of this information.

Dust Solutions to build in Commerce Park

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A new manufacturing company is building and expanding its business in Beaufort’s Commerce Park. 

Dust Solutions Inc. (DSI) is a manufacturer of environmental technology, and works with industrial clients around the world to resolve fugitive dust challenges in complex and critical work environments. 

It will bring to the Commerce Park a new 12,000- to 15,000- square-foot manufacturing facility and will employ 20-plus people. 

Headed by Richard Posner, president, and Aura Posner, vice president, the new Beaufort facility will house corporate, engineering and production functions along with sales offices located in Vancouver, Wash.; Santiago, Chile; and Manila, Philippines.

Aura Posner said that “when evaluating DSI’s location strategy, our team assessed several factors including availability of infrastructure, access to well-established and growing transportation corridors for our international business, and importantly, active participation by state and local government and infrastructure partners to support our mission and growth. 

“The city of Beaufort’s commitment to supporting manufacturing businesses such as DSI was integral in our decision-making process,” Beaufort City Manager Bill Prokop, said. “It has been a pleasure working closely with the Posners over the last several months to be sure that the city could provide the needs for their expansion. 

“They have a great company and it is going to be the ‘poster child’ for further development in our Commerce Park. 

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