Category Archives: Transactions
Warren Wise of The Post and Courier brings us up to date on all rumors and confirmed stories regarding retail in CHS, including:
- A new Chick-Fil-A in Mount Pleasant, this one at 653 Long Point Road just outside I-526 and across from the Harris Teeter anchored Belle Hall Shopping Center
- Bikram Yoga and a Blue Water c-store are also coming to Mount Pleasant
- PetSmart opened a new store at 850 Folly Road in the Super Bi-Lo anchored center on James Island
- Waffle House is opening its 8th area location, this one in N CHS at Sumner Avenue and Paulson Street, opposite a new Bojangle’s
- McDonald’s is planning a store at 1645 Red Bank Road near the new Wal-Mart Neighborhood Market in Goose Creek/Berkeley County near SPAWAR
- A new Fresh Produce women’s clothing store opens at 218 King Street downtown, in the former Nine West store, relocating its nearby store out of Shops at Belmond Charleston Place
Colliers International Research Department, led by Pete Culliney, Director of Research in New York, and Andrew Nelson, Chief Economist in San Francisco, have published their Mid-Year 2016 U.S. Capital Flows Research and Market Report for the national capital markets. One of their many nuggets of information:
- Repeat sales (of the same property/ies), the best indicator of price movements, are, overall for the four major food groups (CBD office, retail, multifamily, and industrial) up 12% over the prior peak of 2008 in the top six metro markets, admittedly a far cry from our local market. But…
- The same property types outside the top six metro markets are still, on average, down 16% from the prior peak, but it is a mixed bag, with multi-family and CBD office higher than the prior peak while retail and industrial lag. See the chart below, thanks to the Colliers International report. If you would like a copy of it, please email us.
Virgina Beach-based Wheeler Real Estate Investment Trust bought 13 retail centers in South Carolina and one in Georgia, totaling 603,000 SF and 92% occupied and anchored by the likes of Bi-Lo (8 centers), Piggly Wiggly (5) and Harris Teeter (1). Locally, three centers were included – Harris Teeter center at Folly Road Crossing on James Island, Bi-Lo anchored Ladson Crossing in Ladson, and a Piggly Wiggly in Mocks Corner. Warren Wise of The Post and Courier has the story here.
A dark restaurant at 201 Coleman Blvd. in Mount Pleasant that once housed Sette VII will be leased for a new dining/bar establishment according to the owners and Warren Wise’s Post and Courier article.
Warren Wise has uncovered plans for two grocers planning stores in metro CHS – a new Publix at 1411 Folly Road on James Island, not far from a very successful Publix to the north at 520 Folly Road (and Harbor View Road).
Also, Sav-A-Lot will (open in mid-June) a new 16,000 SF store at Oak Ridge Plaza Shopping Center at 5060 Dorchester Road; that’s just outside I-526.
We’ve also heard about yet another grocery store for Mount Pleasant.
If you wonder where the $60 goes after it leaves your wallet at Hall’s Chophouse for the filet (a la carte), some of it goes to pay for the real estate. A lot of it apparently. The owner of the restaurant paid a combined $7M for the twin buildings that house the famous eatery at 432-434 King Street downtown. Warren Wise has the announcement here.
Kimco Realty finally publicly revealed its plans to add Harris Teeter to the mix at Westwood Plaza Shopping Center in West Ashley, adjacent Barnes & Noble. Office Depot and TJMaxx also co-tenant the center. Warren Wise of The Post and Courier has the announcement here. Kimco renovated the St. Andrews Center anchored also by Harris Teeter and West Marine/Petco/Stein Mart on Savannah Hwy back in 2009. John Orr, CCIM, and Elyse Chubb Welch, CCIM, handle the local leasing for Kimco in each of these centers.
Warren Wise of The Post and Courier has an article updating the local retail scene, including the announcement of a 4th Chipotle, this one in Mount Pleasant; and plans for their 5th store in West Ashley near Citadel Mall. Also, specialty food retailer Southern Season opening a store (kinda) downtown on Market Street.
Frothy Beard Brewing Co. of N CHS and food truck Zombie Bob’s Pizza are joining forces and will open a joint operation at Ashley Landing in West Ashley this Fall. It will include a large brewing area and CHS’ largest indoor taproom and a large outdoor seating area according to the founders. Warren Wise of The Post and Courier has that story along with a few other retailer notes around town.