Coastal Tides Retail Newsletter – August 2014

Coastal Tides Retail Newsletter – August 2014

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NewImage.png Charleston Once Again Named Top City in U.S.

The Holy City has done it again! For the second consecutive year, Charleston has been chosen as the “Top City in the United States and Canada” by Travel + Leisure’s readers. Just as impressive, the city was also picked as the second best in the world. Read More TINA stephens

TINA Stephens opens at 278 King Street

TINA Stephens™ announced the opening of its newest retail location

2014 Mid-Year Charleston Retail Market Report

National Tenants Compete for Limited Retail Space!

Q2-2014 CHS RETAIL Report TN

Key Takeaways:

  • Market vacancy rate is down to 6.32%. Downtown vacancy rate is just 3.56%. Rental rates averaged $17.72 per square foot for shop space with some tenants seeing rates as high as $77 per square foot in the Downtown submarket.
  • The retail market is becoming a landlord’s market as available retail space runs scarce.
  • The trend of recycling retail space continues. New development activity is picking up.
  • New restaurants make Charleston debut.
  • Job creation is driving the suburban retail market attracting grocers, restaurants and sporting goods stores.

DOWNLOAD LINK – Q2-2014 CHS Retail Market Report

Orr - Chubb Contact Block

How and How Much Commercial Real Estate Brokers get PAID

In this week’s Landlord Tips and Tenant Tips we will discuss HOW and HOW MUCH Commercial Real Estate Brokers get paid. Money matters

Thank you all for the great comments last week on Steps to Hiring a Commercial Real Estate Broker; THE Checklist Once you’ve decided to hire a broker (Click here for THE Checklist), and selected one you can hold accountable it’s time to understand how we get paid and when it’s due.

Before we dig into the WHEN, and HOW MUCH know that this is my full time job. I am a professional.  Think of me as a paid consultant like other professionals. Your Doctor, Lawyer, CPA or other service provider. This is how I feed my family. This is my Career. I am paid 100% on commission earnings. I pay my own expenses. There is no bi-weekly paycheck, expense account or company car. I sell my knowledge, expertise and my time to meet your real estate goals.

Steps to Hiring a Commercial Real Estate Broker; THE Checklist

This week’s installment of the Landlord and Tenant Tips we will cover the steps to cover when Hiring a Commercial Real Estate Broker.CRE Broker Candidates to Interview

First you RECOGNIZE you need a professional. It may hit you like a ton of bricks or it may have taken you years with no results to arrive at this decision. You may be a Landlord who needs to lease vacant space or sell a property, or a Tenant interested in a new location or a renewal of a current one. The good news is you’ve completed the hardest part!

Doesn’t matter how you got here, it only matters that you have (or almost have). Check that off your list and move to the easy part. Second step is

Landlords and Tenants; what should you expect from each other?

FOR LEASE

Welcome to the #Landlord Tips and #Tenant Tips section of the Charleston Retail Commercial Real Estate blog.
Today we discuss Landlords and Tenants, their roles and what is typical or reasonable to expect from each other and how we memorialize the agreement at a Shopping Center.

Let’s begin with the Landlord and the question “What is a Landlord?”.

Landlord, most simply, is the one who receives rent.  The Landlord can be an individual person like my Mom, or it can be a global investor like http://www.blackstone.com/.  You may deal directly with my Mom, or the regional manager of the local company or a fund (group of investors) that may own the property.  Regardless of who you deal with as the Landlord (and don’t underestimate Mom), they are in the role to manage and increase the value of the property.  This is very important to be aware of because it creates adverse position to that of a Tenant. Exactly what the Landlord bargains to provide to the Tenant will vary based on multiple factors, but for now lets stick to a suburban retail shopping center building as the property the Tenant would like to Lease.  In our Shopping Center, let’s call it “Charleston Square,” the Landlord provides

Welcome to www.JohnOrr.com

WELCOME!

Howdy y’all,
I appreciate you surfing by here to check out the “Official Launch” of my Blog.  This has been in the works for a long time and my good friend Duke Long has been instrumental in motivating me.  First by naming me to this prestigious list of the Top 10 Most Influential Online Commercial Real Estate People in 2013 and then the 2014 Top 100 Commercial Real Estate People You Must Follow On Twitter.  Of course you all repeatedly telling me how inadequate my website really was helped too!

Before I get too far along about what you can expect to find here, allow me a moment to introduce myself – I am John Orr CCIM, a lifelong Retail Commercial Real Estate practitioner.  I’ve been active for a long time (at least in relative timelines) in the social media spaces – TwitterLinkedINFacebook, Google+, YouTube.

As we get to know each other over the coming weeks and months I will introduce our Charleston Retail Team here at Colliers International as well as post Market Reports, post for Restaurant Recommendations, and whatever strikes me from time to time.  Now, even with all that great stuff to talk about my main goal is to explore today’s issues facing Landlords, Tenants, Sellers and Buyers – and the occasional Developer’s Corner post and of course our monthly Coastal Tides Newsletter.  These are the things that impact us everyday.  The names may (or may not) be changed to protect the innocent but all the stories here are real because Truth is stranger than Fiction!

Thanks again for taking the time to check it out and please take a moment to Subscribe in the box on the right.  I believe inboxes are sacred and promise not to send anything to you that I wouldn’t want to receive myself.

Thank You Very Much!

John

Coastal Tides Newsletter July 2014

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Coastal Tides Retail Newsletter, July 2014

Tuesday Morning Logo

Tuesday Morning opens new store in Mount Pleasant

The Dallas-based retailer of closeout housewares and decor relocated to 680 Long Point Road, adjacent to PetSmart, after leaving its store on Coleman Boulevard about a year ago to make way for the Southern Seasons outlet.

Dick's Sporting GoodsNordstrom Rack

Nodstrom Rack, Dick’s Sporting Goods plan to replace former Kmart in Mount Pleasant

Design plans submitted to the town of Mount Pleasant reveal a new facade and a restructuring of the shopping center’s five parcels. The former Kmart superstore, which closed in January, will be split into two storefronts designed for Nordstrom Rack and Dick’s Sporting Goods.

Ruth's Chris

Ruth’s Chris Steak House to open in hotel near Charleston City Market

After an exhaustive search, Ruth’s Chris Steak House has selected