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2022 Q1 Retail Charleston Report

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Smaller footprints are driving restaurant transactions

Key Takeaways

  • Restaurants smaller than 5,000 square feet are transacting
  • Charleston retail vacancy rates have sharply decreased to 2.68% due to positive absorption

A rise in fast-casual restaurant concepts allotting for less indoor dining space are leading restaurant tenants to opt for smaller footprints. Restaurateurs are adapting to evolving consumer preferences by downsizing or moving to a smaller space.

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2022 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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Zach Wade

Brokerage Associate

Charleston

As a Brokerage Associate, I work with sellers, buyers, landlords and tenants by selling and leasing retail buildings and spaces in the Charleston region. I specialize in working with multi-tenant shopping centers and single-tenant retail buildings. 

A core part of my role is to meet with business owners and understand their business, how they operate and their real estate needs. I value relationships and enjoy connecting with clients on a personal level beyond a transaction. Retailers rely on our team’s market knowledge to make the most informed decision when looking for a new space or to sell their property. We have experience walking them through the process, from property tours and research, to negotiating leases and ultimately closing a deal.

Our team has had success working with developers by pre-leasing shopping centers that are under construction as well as stabilizing assets before construction is completed, including over 50,000 square feet in the past few years.

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