When Shopping Centers Today magazine profiled Charleston’s King Street and its shops and restaurants that are busy year round, reporter Matt Hudgins interviewed Elaine Worzala, associate dean of the School of Business, executive director of the Carter Real Estate Center, and professor of commercial real estate. Worzala is an international researcher in commercial real estate and the go-to source for insight and understanding of the growth of Charleston and its impact on property values in the region.
In commenting on King Street’s ability to attract top retailers that rent storefronts for $60 to $65 per sq. ft., Worzala paid tribute to the city’s Mayor Joe Riley for outstanding planning and and nurturing of growth over the past three decades. In the past five years alone, property values on the Charleston peninsula have been partly driven by higher-income shoppers and retirees who buy homes here.
The article also points to Charleston’s booming tourism industry that keeps King Street businesses hustling year round. The College of Charleston’s students, parents, faculty, staff, and administrators and other major employers located downtown also frequent the nearby shops and restaurants and support the local economy.
Read complete article Worzala_ShoppingCentersToday.