Blog Archives

A Bubble In the Making ?

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.Screen Shot 2016-09-13 at 4.12.41 PM.png

CHS Investment Sales Reach Record $1B

Sales of investment properties in the CHS region – apartments, office buildings, shopping centers and the like – exceeded $1 BILLION for the first time ever in 2015. A few highlights from our Colliers Year-End 2015 Investment Sales report:

  • Multi-family led the way with over $520M in sales volume, an average price per door of $114k, with newer class A communities often exceeding $200k/unit
  • Sales of shopping centers were next at $131M in 2015, averaging $133/SF, led by the Wal-Mart anchored North Pointe Plaza in N CHS at $32M, and Shoppes at Centre Pointe at $16.5M then West Ashley Shoppes at $15.5M
  • Office buildings totaled $123M and averaged $214/SF; the largest building sale, at $28.4M, was that of Parkshore in West Ashley but it was to a user, MUSC.  The biggest investment sale was that of 3955 Faber Place to a NY-based advisor at $13M or about $200/SF

Read all about it in our Colliers Year-End 2015 report.  You can request yours by pinging me at



Ashley Oaks Plaza in West Ashley To Be Renovated

Lat Purser & Associates, the very experienced Charlotte developer, has proposed a $5M renovation of the very tired Ashley Oaks Plaza shopping center at Ashley River Road and Wappoo Road in West Ashley.  With a larger private equity fund partner, they bought the center for about $5.5M back in November.  Colliers own John Orr and Elyse Chubb Welch were selected to lease the center back to the 21st century.  Warren Wise of The Post and Courier has the article here.

CHS Multi-Family Market Report Available

Our Colliers International local market report on the CHS multi-family market is ready for downloading.  A quick excerpt:  The market remains vibrant and poised for further growth in demand, new construction, monthly rents, and sales velocity….YE 2014 stats show a $959 average market rent per month and $.98/sf/month, and an effectively fully stabilized 5.3% vacancy; new construction is coming but so are jobs….

Download the complete report here.

Mixed-Use Development Planned for Mount Pleasant Site

Colliers International team has sold one of the few remaining large development sites in Mount Pleasant.  Johnson Development, out of Spartanburg, plans a major mixed-use project consisting of a 456-unit apartment community, 62,000 SF of retail, self-storage for 600 units, a 123-room hotel and a tech incubator office building.  Johnson paid $11.5M for the tract of 38 acres from the U.S. bankruptcy court.  The site is across the street from Mount Pleasant Towne Centre.  The Colliers International team that sold the site was Seth Clark and Danny Pellegrino in the Colliers Charleston office and Woody Moore in the Colliers Columbia office.  Michael Dodds of Integra Realty Resources and shares the information.

New Retail Centers Coming to Summerville and Mt. Pleasant

Abigail Darlington of The Post and Courier gives us a quick summary of two proposed centers – one for Summerville and one in Mt. Pleasant – each of which will be anchored by an Aldi grocery store and an Academy Sports, both new to the CHS market.  Colliers International’s very own John Orr, CCIM, who heads our local retail leasing group, offers his insight in the story as well.

CHS Q2 2014 Office Market Update

Colliers International’s 2nd Quarter office market report is out and available here.  Highlights:

– Vacancy rates declined to 10.45% at the end of the second quarter of 2014 from the first quarter vacancy rate of 11.12% and will continue to decrease throughout 2014.
– Class A asking rental rates averaged $27.20 per square foot full service for the market.
– Average asking rental rates increased to $20.33 per square foot full service for the market.
– With vacancy rates trending downward, speculative development is necessary for future growth.

MidYear 2014 CHS Investment Market Report Now Available

Fresh off the press, Colliers International’s Mid-Year 2014 report on the Charleston investment market is now available at the link below.  Click here to download the complete report.

Tuesday Morning Opens in Mt. Pleasant

Tuesday Morning, the closeout retailer, has opened its new Mt. Pleasant store in Belle Hall Shopping Center.  Tuesday AM was repped by John Orr, CCIM, and Elyse Chubb of Colliers International’s Charleston Retail Leasing Team.  Abigail Darlington of The Post and Courier has the story along with some other local retail/restaurant announcements.

CHS YE2013 Retail Market Report Out – 6.0% Vacancy and Increasing Rents

The Charleston retail market continued to improve since mid-year 2013 with increased occupancy rates and new construction. National tenants are showing a greater interest in Charleston. Bass Pro Shops, Southern Season, H&M, Chipotle and Madewell all opened stores or announced plans to locate to the market.

See the entire market report here from our retail landlord services team of John Orr, CCIM, and Elyse Chubb.