Retail Market

Charleston population growth continues to outpace the national benchmark and developments continue for new retail space. In North Charleston, the 72-bay Topgolf facility is nearing completion which is expected to increase foot traffic surrounding Tanger Outlets. Summerville’s Nexton development plans to build two grocery chains, Harris Teeter and Publix, across from each other. Investors have been active in Charleston as Q4 sales volume reached $27.6 million. Redevelopment plans are on the way as investors continue to eye Charleston’s booming tourism. In October, MCZ Development purchased a 16,000 SF bowling alley and a restaurant property in Downtown Charleston for $10 million with an approved plan for an eight-story hotel.