Charleston’s Rent Is On the Rise
The Charleston Retail Real Estate Market can often lead to unique delivery opportunities, like going mobile. Today, we’re chatting about how high retail rental rates in Charleston South Carolina can create innovative business space like mobile offices in RVs or food trucks.
Rental rates have skyrocketed, especially on Charleston’s King Street which is one of the top 10 retail destinations in the country. Rates in the area can be as high as $89 a square foot!
Instead of paying such high prices, most of which aren’t affordable for people newly starting out, entrepreneurs and other business owners have figured out clever ways to keep their businesses open without spending thousands of dollars in rent.
See the video below to hear Mike’s take on the situation.
Commercial Real Estate Broker in Charleston, SC
Mike Ferrer, CCIM, MCR has over 15 years of commercial real estate Brokerage and Development experience. With a focus on warehouses, manufacturing, office buildings, vacant land, and Investment Sales. He opened his own brokerage in 2015, and has completed over $225,000,000 in transactions throughout the Lowcountry.
Mike is the past president of the Commercial MLS for the state of South Carolina and has served on many other civic and philanthropic boards. Mike has a plethora of commercial real estate knowledge and established ties to the local community both statewide and stretching across the entire southeast.
Have further questions about synthetic leases or owning Commercial Real Estate in Charleston? Feel free to contact me with any questions you may have!
Follow Ferrer Commercial Real Estate Advisors, LLC. on Facebook, Twitter, YouTube, & LinkedIn