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

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Coastal Tides Retail Newsletter – June 2014

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Retail Market is Back in Business as RECon 2014 Wraps Up

By the end of the day Tuesday it was clear that the industry’s expectations for the 2014 RECon show had been fulfilled-the retail real estate market is once again vibrant, with tenants signing new leases, lenders clamoring to offer debt for new acquisitions and multiple investor classes looking to buy retail assets, wherever they may find them.

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More From ICSC RECon 2014

The Changing Dynamic Between Retail Landlords and Tenants

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How to Turn Around a Challenged Center Around

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Don’t Overthink It; Do the Retail Deal

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Large Box Shifts to Smaller Formats

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 Outdoor retailer Gander Mountain picks

Charleston Retail Occupancy and Rental Rates Near Record High

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KEY TAKEAWAYS

  • Retail activity was steady through the early months of 2014 which ended with a high occupancy rate of 92.9%.
  • Focus on Downtown Charleston results in record high occupancy rates.
  • Rental rates soar for King Street shop space.
  • Corner at Wescott Shopping Center in the Summerville submarket delivered.
  • Redevelopments underway on Upper King Street in Downtown Charleston.

CURRENT CONDITIONS

2014 is looking bright for the Charleston, South Carolina retail market despite a slight increase in the market vacancy rate to 7.14% at the end of the first quarter of 2014 from the year-end 2013 rate of 6.98%.  The increase is a result of several big box closings throughout the suburban submarkets.  The largest closure was K-Mart closing its doors at

COLLIERS INTERNATIONAL | SOUTH CAROLINA YE-2013 CHARLESTON RETAIL MARKET REPORT

Bluffton Commons Publix

COLLIERS INTERNATIONAL | SOUTH CAROLINA YE-2013 CHARLESTON RETAIL MARKET REPORT

Below is a download link to my Year End 2013 Market Report.  If you have any questions or want to dig deeper on any topic please Call Me, 843-608-8677, or email me John@JohnOrr.com

COLLIERS INTERNATIONAL | SOUTH CAROLINA
YE-2013 CHARLESTON RETAIL MARKET REPORT

High Occupancy Rates Spur New Construction

Key Takeaways
·         King Street continued to excel with new retail tenants including C Wonder, H&M and Madewell opening stores in downtown Charleston.
·         Increased demand for retail space spurred new construction and redevelopments throughout the Charleston region.
·         Average asking rental rates continued to rise for shop space on King Street and in high growth suburban areas.
·         Suburban submarkets encountered the “Grocery Wars” as Piggly Wiggly stores sold and reopened as Bi-Lo or Harris Teeter.

Fourth Quarter 2013 Recap
The Charleston retail market continued to improve since mid-year 2013 with increased occupancy rates and