Retail market healthier than pre-pandemic
- Most retail activity was concentrated in service-oriented establishments
- Shoppers return to in-store shopping
- Fast food and gas stations with convenience stores are aggressively expanding
During the second quarter of 2021, the vacancy rate dropped to 5.73% which is approaching the pre-pandemic vacancy rate of 5.42%. Shop success was led by service-oriented shops throughout the state, the South Carolina retail markets absorbed 184,875 square feet of space this quarter. Overall shop space rental rates are higher than before COVID, and are likely on an upward trajectory through year-end.
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