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2021 Q1 Retail Charleston Report

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Key Takeaways

  • Positive absorption is expected to continue within small shops because of a lack of new retail construction space.
  • Entrepreneurs are active in the retail market.
  • Personal services and experiential retail are open and expanding.

Rebirth of entrepreneurial spirit

After any economic downturn there is a burst of activity by entrepreneurs looking for new ventures. Many business owners will want to lease a small storefront in quality shopping centers to establish their business. Business applications throughout South Carolina steadily climbed through 2020 and 2021 and reached an all-time high of 9,931 during April of 2021. Additionally, as the pandemic has receded, quick service restaurants (QSRs), discounters, fitness operators, personal services and experiential retail have expanded. For example, QSRs such as Popeyes, Starbucks, Taco Bell & Chick-Fil-A have proven to be successful with the growth of food delivery and take out.  

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2021 Q1 Retail Charleston Report

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Related Experts

Patrick Nealon

Brokerage Associate

Charleston

I am a Brokerage Associate and part of the Retail Services Team in the Charleston office. I enjoy working in retail real estate because it is ever-changing with technology, e-commerce and last-mile delivery. I am highly motivated, dedicated, high energy, persistent and bring a fresh perspective to the evolving industry. The most rewarding part of my job is helping people find a space that suits their business. It is exciting to me that you never know who you will meet, who you will run into or what will come your way.

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