2031 Sam Rittenberg Blvd
Charleston, SC 29407
Bldg #2 · Retail Property For Sale

The redevelopment of the neighboring shopping mall now known as Epic Center is part of a push to revitalize West Ashley. Epic Center will bring in high-wage jobs and vital citizen services, draw in considerable consumer traffic, and completely reinvent the mall as a better place for consumers coming from all parts of the region. $40M has gone into the MUSC West Campus build-out, which opened their doors at the start of January 2020. HBO is currently leasing the space once occupied by Sears to film a new series. The Sears space was acquired by Trademark Properties for $7.55M. The asset is strategically positioned on Sam Rittenberg Blvd (27,700 VPD); the major retail corridor west of the Ashley River and serves as the primary thoroughfare connecting West Ashley to Downtown Charleston. Nearby retail, other than Epic Center, includes Piggly Wiggly, Costco, Harris Teeter and Best Buy. The local population within a 5-mile radius of the center is 104,775 people and is expected to grow by 8.3% in the next 5 years. The average household income of $81,230 is expected to grow by 15.85% in the next 5 years. The asset is 10 miles away from Charleston International Airport which, in 2018, saw over 4.4 million passengers travel in and out of the airport. Downtown Charleston is only 4.5 miles from the center and in 2018 the total number of visitors who traveled to Charleston exceeded 7.2 million. The economic impact that tourism brought to Charleston in 2017 was $7.37B. Roughly 20.1% of all sales in the Charleston MSA were attributed to tourism. Two of the three tenants in this offering have been operating at this location for over 10 years showing their commitment to the center and its location. Eyeglass World, the newest tenant to join the lineup, just signed a 10-year lease. The center is tenanted by AAA and Eyeglass World, both corporate credit leases, as well as Batteries Plus Bulbs, a 6-unit franchisee operator.