Jul
16

Charleston Retail Vacancy Rate Rises Slightly

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A growing labor force in Charleston, and growth in manufacturing employment, has led to changes in the retail sector, according to a report by Lincoln Harris.

Vacancy rose slightly to 8.01% — up from 7.87% in the first quarter. But as more space became available, overall rent dropped slightly to $12.76 per square foot.

Downtown Charleston’s vacancy dropped nearly 2% to 6.24%, the largest drop of all submarkets.

Tenants in the downtown market are seeing movement by entrepreneurs and businesses into non-traditional retail spaces, including stores located on the second or third floors of buildings.

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    Categories : Charleston

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