Colliers Releases YE-2012 Greenville Retail Market Report


The Greenville, SC retail market ended 2012 with a positive outlook arising from the overall vacancy rate of 9.31% approaching the market’s pre-recession levels. Rental rates remained mostly steady in 2012 with the exception of shop space which had an average asking rental rate of $13.59, $1.29 more than year-end 2011.

Activity remained strong and steady through 2012 as evidenced by big-box retailers moving into the market and the presence of ongoing construction projects in the area. Big-box spaces left vacant due to store closings during the recession have since by occupied by retailers such as Buy Buy Baby moving into Linen N Things’ former location at 1125 Woodruff Road and REI moving into Circuit City’s former location at 1140 Woodruff Road. Big-box retailer expansion coupled with the trending movement from Haywood Road to Woodruff Road resulted in a year-end vacancy rate of 3.55% for the Woodruff retail corridor, almost 4 percentage points lower than a year ago.



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    Categories : Greenville

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