The COVID-19 pandemic left the once-bustling King Street empty. As local businesses moved out and on for good, the space between Broad and Spring Streets fell silent. According to the Charleston Business Journal, though, commercial real estate on King Street is bouncing back to life.

40,000 Square Feet of Commercial Real Estate Filled Quickly

Last year, 110,000 square feet of commercial retail property on King Street stood vacant. As of September 2021, blossoming new businesses reduced that number to 70,000. That leaves only about 20 retail spaces empty for adventurous business owners.

King Street is primed for a resurgence. Given that rebound, all empty spaces could be occupied by the end of next year. That’s great news for property management firms, entrepreneurs, and Charleston residents alike.

Who’s Moving Onto King Street?

Overall, many businesses have made Charleston their home in 2021, but the opportunities of King Street’s commercial spaces are attracting more.

Miami-based restaurant Le Chick just signed a contract totaling almost $6 million for its space. By the end of 2022, owner Coco Coig hopes to be serving casual yet sophisticated cuisine and cocktails in Charleston.

Beachables, a beachwear boutique currently located on Clements Ferry Road, opened a second location on King Street in April.

On September 12, Chucktown Brewery opened its doors to thirsty patrons in a King Street location formerly occupied by Kickin’ Chicken.

These exciting new retail opportunities promise better futures for important Charleston traditions. The same day Chucktown Brewery opened, Second Sunday returned after an 18-month absence. Local artists, buskers and business owners brought their wares to the street to joyous throngs of locals and tourists.

Optimistic Market Confidence for Charleston, SC

New businesses coming to King Street isn’t the only reason to celebrate. Last year, businesses on King Street generally committed to short-term leases of one to three years. With the impending economic resurgence and the opportunities it brings, businesses are now committing to long-term business leases, some lasting 10 years according to the Charleston Business Journal.

Confidence in Charleston real estate investment is returning with longer leasing terms. The city has proven itself resilient in the face of hurricanes and worrying pandemic statistics. This strength and the commercial real estate opportunities on King Street are signs of great things to come in the Lowcountry.

Continued Commercial Real Estate Development in Charleston

For both new and experienced business owners, now’s the time to set up shop. Caldwell Commercial real estate services is here to make that happen.

We know that running a business is more than a fulltime job, so let our experts broker commercial real estate leases and sales for your business. With a combined 80 years of experience, our team will help you find a location that spells success and maintains it for years to come. Contact a member of our team to find out how Caldwell Commercial creates outstanding business ventures in Charleston.