Oct
31

Grocery Store Development in Charleston Slows

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Publix cut the ribbon this month in the Cane Bay development, the latest addition in a steady stream of sparkling new supermarkets that have opened in the region over the past 15 years.

It stands out from the rest because it might be the last new grocery store that local shoppers see for some time.

Tighter lending standards and a lack of new rooftops following the housing bubble’s burst are shelving further development of supermarkets, according to grocers and commercial real estate agents.

“I don’t know of any more grocery stores that are being built,” said Will Sherrod of Daniel Island-based CORFAC|Anchor Commercial Real Estate, referring to the local market. “That’s really a reflection of the lending environment. The funding is not available. Without the rooftop growth, we are not going to see as active of expansion as we have seen in the past.”

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