Retail Market

The warm weather, tourism, and population growth are all shaking up the retail market across the metro area. The increasing population and job prospects are bringing high-paying jobs to the metro that contribute to retail consumption. 357,530 SF of construction is underway, the majority of which is in the growing suburban areas. The combination of leasing activity and the lower levels of construction has kept Charleston’s vacancy rate at 3.5%. Unusual but perhaps clever, 30,000 SF Target has just opened in the heart of downtown Charleston where population density is high and college campuses are a walking distance.