Almost every major retail CRE category in Charleston, South Carolina has shown improvement, at least according to the latest report from Colliers.
Most notably, vacancy dropped to "rock bottom levels" of 1.93 percent in the fourth quarter of 2024. That's compared to the 2.11 percent in the previous three months and 2.54 percent in the final quarter of 2023. Of the 12 retail submarkets in Charleston, Colliers recorded vacant space in just five of them. The highest was in West Ashley, which had 38,744 square feet.
Net absorption hit 172,500 square feet in the fourth quarter, up from the 100,300 square feet recorded in the previous three months and the 111.4 million at the end of 2023.
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