Colliers Report: Constrained retail construction and turnover create opportunities

March 23, 2023

Commercial Real Estate Research & Forecast Report
Q4 2022 Charleston Retail

Market Highlights

Headlines have been filled in recent years with stories announcing the “demise of retail”. In reality, vacancies have declined to the lowest levels in decades and rents have risen. In some cases, landlords have been anxious to get junior anchor and anchor spaces back to be able to lease to tenants who are expanding and who can pay higher rental rates.

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Key Takeaways

  • Vacancy remains at a historic low
  • New development in the primary retail corridors is very limited with the exception of the Nexton/Summerville area
  • Landlords anticipate junior anchor vacancies in 2023


Most recently, Bed Bath & Beyond and Tuesday Morning announced a significant number of store closures. Because their average store size is between 20,000 and 30,000 square feet and most are in desirable retail corridors, these spaces will be quickly leased to new tenants like Five Below, Pop Shelf, Painted Tree Boutiques and Burlington.



About Colliers

Colliers | South Carolina is the largest full-service commercial real estate firm in South Carolina with 62 licensed real estate professionals covering the state with locations in Charleston, Columbia, Greenville and Spartanburg. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina with a portfolio of over 18 million square feet of office, industrial, retail and healthcare properties. Colliers’ staff hold the most professional designations of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 65 countries, our 18,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at, Twitter @Colliers or LinkedIn