2Q25: Charleston MSA Retail Snapshot

Charleston’s retail market remains tight, with a low 3.2% vacancy rate across 48.7 million square feet. Despite modest negative net absorption of 123,060 square feet, about 203,676 square feet is under construction. Average rents are strong at $25.87 per square foot. Submarkets like Mt. Pleasant, West Ashley, and James Island have vacancies under 2%, while North Charleston and Daniel Island are slightly higher at 4.9% and 5.6%. Though development faces municipal hurdles, continued tenant and developer activity reflects strong demand driven by population growth.