This is a presentation @ElyseChubb and I gave to the @ColleirsIntl Retail Services Group in Denver at the #AmCon2015. What you will take away are three important points.
- First, this is not a fad and your clients and customers are ALL using it. It is difficult to measure the ROI, however, we firmly believe it is more important to not be absent than it is to be present. Decisions are made in #Mocial Land. More about #Mocial Here. Ever used Yelp, Urban Spoon, Open Table, Amazon, Pinterest, or Instagram to research a purchasing decision?
- How to build and protect your Brand. First step is to Google yourself – what’s there? You Google your prospects and competitors. Know hey Google you. Get your digital house in order using the Checklist. It’s hard to know where people will find you so you need to make sure it’s all clean – especially your Facebook Profile.
- Tips to help you engage. I’m constantly asked how I find the time to post so much. The reality is all the posts are posts that I’ve read first. It only takes a fraction of a second to post it and with a couple tools I outlined.
Remember, if it is not Current, Relevant, and Interesting to you, it won’t be to others either.
You can download a copy here, or if you just want the slides they are here and please feel free to share it. As Always we welcome your feedback and comments to let us know what you do.
Demand Exceeds Supply, Drives Development of New Retail Space
COLLIERS INTERNATIONAL | SOUTH CAROLINA
Q4-2014 CHARLESTON RETAIL MARKET REPORT
· Downward trending vacancy rate. Rental rates steadily increasing.
· New construction and redevelopments are strong throughout the market.
· Grocery wars continue.
· Grocery stores and outdoors sporting goods stores anchor new suburban developments.
· Tourism drives downtown growth. Suburban growth is driven by job creation and population growth.
· 2015 likely to bring new retailers and continued success.
2014 was a significant year for the Charleston, SC retail market, full of new construction, redevelopments and new tenants opening or announcing plans to enter the market. Vacancy rates declined and rental rates climbed, especially along downtown’s King Street, throughout the year. The fourth quarter ended with an overall vacancy rate of 5.02% for the market, down from the third quarter vacancy rate of 5.44% and year-end 2013 vacancy rate of 6.91%.
Shop space asking rental rates averaged $19.51 NNN at year-end 2014, up 3.5% from the third quarter, largely due to spikes in rental rates along King Street. Tenants along King Street are seeing rates vary from $30 to $70 NNN, with the lowest rates along Upper King Street and highest rates along Middle King Street. Asking rental rates for suburban shop space averaged $16.70 NNN, holding steady over the third quarter average, but increasing from $16.34 NNN a year ago.