R E T A I L  North Charleston's Northwoods Marketplace is anchored by Barnes & Noble, Best Buy, Linens 'N Things, Michaels and Old Navy. Retailers Scoop Best Sites in the Carolinas CHARLOTTE, N.C. – With strong regional banks, the steady addition of institutions and businesses to the area and its healthy housing market, the Carolinas’ retail scene continues onward with an influx of new growth.  Amid this progress, Divaris Real Estate, Inc. (DRE) has found several of the best locations to fit its retail tenant representation clients’ specific needs. The region’s most popular retail venues remain the grocery-anchored strip centers, existing regional malls and mixed-use, lifestyle developments.  “The last several years have had very strong leasing activity in many varied retail destinations.  They are still the most active areas of development,” said Diana Teitsma, director of leasing and broker in charge of DRE’s Charlotte office.  “A number of new high-end retailers have entered the market – Trader Joe’s, REI and IKEA – and have joined new power centers,” she adds. Regional mall expansions have spread in all directions.  In Charlotte’s north quadrant, North Lake Mall is thriving with new surrounding supporting developments, which accommodate anchors REI and Target.  Farther south in Pineville, N.C., Carolinas Place Mall added a Barnes & Noble-anchored, lifestyle wing to answer its market’s demand for more retail space.   South Park Mall -- Carolina’s most prestigious mall with new-to-the-market Crate & Barrel, Neiman Marcus and Nordstrom -- also supplemented its space with a mixed-use extension of retail shops below high-end apartments on the upper level.  On the City’s east side, bridges will be built over wetlands for a mall appropriately dubbed Bridges of Mint Hill.  It will be anchored by Dillard’s, JCPenney’s, Barnes & Noble and a Consolidated Theatre.  And near the center of the city, Metropolitan at Midtown, a mixed-use development, has enticed Home Depot to build its first Design Center in North Carolina.  The first phase of the project was completed in fall 2007; the office and residential component and additional retail is currently under construction, including a two-story Target. “Every retail space that is constructed or that may become vacant is another opportunity for new retailers to enter the market,” said Teitsma, who is assisting various retailers with their expansion plans throughout the Carolinas, including Haverty’s, Klaussner Home Furnishing, MDI Groceries and Mighty Dollar. And when it comes to representing her clients, Teitsma believes it’s not only about communication, networking and being aware of the market’s inventory – it’s about being tuned in to the requirements of her clients.         “The key is to fully understand the needs of each particular retailer and having the local market expertise and knowledge of new projects in the pipeline to match the site accordingly,” says Teitsma.  “Know the retailer’s competition, where they are and whether they want to be near or away from competition.  Furniture retailers like to cluster together; others do not.  Some want high daytime populations, others high incomes.  Some need certain co-tenancy.  They all vary.  [But it all comes down to the fact that] you must know your clients’ needs.” . Divaris Real Estate, Inc. One Columbus Center, Suite 700 Virginia Beach, VA 23462 TEL: 757.497.2113 FAX: 757.497.1338 info@divaris.com
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