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Retail Tenants Seek Smaller Spaces for Customer Convenience

Charlotte's Strip Centers Outperform Larger Shopping Centers
A recently built, 30,000-square-foot strip center in Fort Mill, South Carolina, sold for $15.2 million, or about $507 per square foot, toward the end of 2021, according to CoStar data. Investor and tenant interest in smaller strip centers convenient to neighborhoods has increased in the Charlotte, North Carolina, retail market recently. (Ryan Gwilliam/CoStar)
A recently built, 30,000-square-foot strip center in Fort Mill, South Carolina, sold for $15.2 million, or about $507 per square foot, toward the end of 2021, according to CoStar data. Investor and tenant interest in smaller strip centers convenient to neighborhoods has increased in the Charlotte, North Carolina, retail market recently. (Ryan Gwilliam/CoStar)
CoStar Analytics
March 15, 2022 | 2:28 P.M.

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While struggling malls, store closures and Americans’ move to e-commerce has dominated headlines about the retail industry, a look at retail real estate metrics reveals more nuance. That's especially true in Sun Belt metropolitan areas such as Charlotte, North Carolina, where population and households continue to grow.

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