2016 Commercial Market Forecast | Retail Update

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Charleston Trident Association of REALTORS

The Retail Market update from Elyse Welch, CCIM with Colliers International from the 2016 Charleston Commercial Market Forecast, hosted by the Charleston Association of Realtors' Commercial Investment Division in Charleston, South Carolina on September 22, 2016.

Real Estate

www.CharlestonCommercialMarketForecast.com
RETAIL REPORT
Elyse Welch, CCIM

www.CharlestonCommercialMarketForecast.com
Elyse Welch, CCIM
Brokerage Associate | Retail Services Group
Colliers International
elyse.welch@colliers.com
Dir: +1 843 720 7508

www.CharlestonCommercialMarketForecast.com

www.CharlestonCommercialMarketForecast.com
• Long term commitment
by international
companies
Why the Boom in
Charleston Retail
• Stable job growth
• Retail follows rooftops

www.CharlestonCommercialMarketForecast.com
Charleston, SC
Retail Submarkets
Highest Rental Rates by Submarket
Average Asking Rental Rates
Suburban Shop Space (NNN)

www.CharlestonCommercialMarketForecast.com
King Street - Record high rates on Middle King have increased demand
for soft goods retail space on Upper King

www.CharlestonCommercialMarketForecast.com
Downtown Charleston
Complex Infill Mixed-Use projects will increase population density
downtown
930 NOMO WestEdge
East Central Lofts
Bi-Lo
?

www.CharlestonCommercialMarketForecast.com
Suburban Charleston
East Cooper – No Vacancy, New Product Needed
Mount Pleasant Towne Centre
Bowman Place
Indigo Square

www.CharlestonCommercialMarketForecast.com
Suburban Charleston
West Ashley – Push to Revitalize
Westwood Plaza
Ashley Oaks

www.CharlestonCommercialMarketForecast.com
Suburban Charleston
Summerville – Charleston’s Inland Growth Path
New to Market
Tenants

www.CharlestonCommercialMarketForecast.com
Investment in Charleston
Active 2016 in Investment Sales
North Pointe Plaza
West Ashley Shoppes

www.CharlestonCommercialMarketForecast.com
Continued core growth across the board
National tenants executing leases
Complex infill projects and investment capital gain momentum

The industrial and commercial real estate market in the Charleston region remains strong. Vacancy rates are decreasing as net absorption of space continues to outpace new construction. Rental rates are increasing as the market tightens. Major trends driving the local market include foreign direct investment and reshoring bringing both manufacturing and distribution users to the area. Infill sites remain desirable but users are also looking to the Jedburg submarket. The region benefits from its quality of life, business climate, and growing port infrastructure which will help attract more investment in the future.

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