Retail Report | Jeff Yurfest
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This document summarizes the 2015 Charleston retail market forecast. It finds that the retail vacancy rate declined to 5.1% in 2015, the lowest in years. Rental rates increased across submarkets like Downtown, West Ashley, and Mount Pleasant. Several large planned mixed-use developments were outlined, including Nexton Square, Ingleside Plantation, and West Edge, totaling over 1.5 million square feet of new retail space. Continued population and tourism growth is fueling demand for both national and local retailers in the Charleston area.
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Retail Report | Jeff Yurfest
- 2. Retail Analysis and Outlook 2015 Presented by: Jeff Yurfest, CCIM www.CharlestonCommercialMarketForecast.com
- 4. Total Retail By Submarket Downtown West of the Ashley North Charleston Mount Pleasant Summerville/Goose Creek Daniel Island www.CharlestonCommercialMarketForecast.com
- 5. www.CharlestonCommercialMarketForecast.com Charleston Retail Vacancy Rate 0% 2% 4% 6% 8% 10% 2011 2012 2013 2014 2015 8.25% 8.50% 6.50% 6.25% 5.10%
- 6. Southeast Retail Vacancy Rate Greenville 12.3% Columbia 8.5% Charleston 5.1% Raleigh 6.3% Charlotte 8.7% Greenville 12.3% Columbia 8.5% Charleston 5.1% Raleigh 6.3% Charlotte 8.7%
- 7. Retail Vacancy by Submarket 0.0% 2.0% 4.0% 6.0% 8.0% Downtown West of the Ashley North Charleston Mount Pleasant Summerville/ Goose Creek Daniel Island 2014 2015 www.CharlestonCommercialMarketForecast.com
- 8. Asking Rents for Charleston Retail $0.00 $5.00 $10.00 $15.00 $20.00 2011 2012 2013 2014 2015 $14.75 $14.25 $15.25 $15.25 $18.40 www.CharlestonCommercialMarketForecast.com
- 9. Rental Rate by Submarket $42.65 $14.77 $11.72 $18.55 $12.08 $17.16 $0.00 $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 $45.00 Downtown West of the Ashley North Charleston Mount Pleasant Summerville Daniel Island 2014 2015 www.CharlestonCommercialMarketForecast.com
- 10. King Street Rental Rates www.CharlestonCommercialMarketForecast.com $55/FT$75/FT$45/FT
- 11. Peninsula Growth Effecting Retail Local and National Boutiques
- 14. Retailers on the rise www.CharlestonCommercialMarketForecast.com
- 15. Retailers on the rise www.CharlestonCommercialMarketForecast.com
- 19. www.CharlestonCommercialMarketForecast.com Berlin G Meyers Parkway Summerville Town Center 58 Acres Heritage Square 12 Acres
- 20. Ingleside Plantation www.CharlestonCommercialMarketForecast.com 750K – 1 Million Square Feet
- 24. Key Takeaways • Declining vacancies and increasing development costs create historically high rental rates. • Strong retailer interest supports new construction. • National expansion continues into Charleston. • Tourism remains beneficial for downtown retailers. • Many large mixed use developments are on the horizon. • All interior doors must match! www.CharlestonCommercialMarketForecast.com
Editor's Notes
- How does this look? Please put the footer on this one.
- I will work to get the original file
- Please fix
- Can you add the Vacancy rate on top of the Graph?
- This is perfect
- Can you center the graphs over the years and make the graph a bit more 3d?
- Please put he 2015 rental rate on top of the orange graph.
- Good luck!
- Good luck!