Oct
01

Commercial Construction on the Rise in Charleston

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Five years ago, shuttered storefronts, vacant warehouses and a glut of office space piled up around the Lowcountry as the last downturn wore on. Today, prime retail spots are fetching top dollar, office space is maxing out, and new large-scale commercial buildings are under construction or in the planning stages.

After enduring a long slog, the Charleston area’s commercial real estate industry is once again humming with activity. Earth is being turned, buildings are rising and empty spaces are being backfilled.

On the Charleston peninsula, Upper King Street is red hot, with prime commercial space bringing $40 to $45 per square foot a year, said Will Sherrod, a retail specialist with the local office of commercial real estate firm Lee & Associates. “On Upper King Street, we are now trending above pre-recession levels,” Sherrod said.

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Categories : Charleston

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