Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/739734
48 S C T / N O V E M B E R 2 0 1 6 T he Charlotte real estate market is defined by five counties in its own state of North Carolina plus, with some exceptional growth to the south, one county in neighboring South Carolina. With its 2.5 million people, the Charlotte metro area is now the 26th-largest in the country. Job growth, retail sales and rents are all headed in the right direction, according to CBRE. "Everything is very positive in Charlotte right now," said Mike Lucier, a Charlotte-based vice president of retail brokerage for CBRE. "We have good growth, the housing market is strong, which is good for retail, and there are a bunch of new projects in development." Much of the city's residential growth involves apartments and single-family homes along Charlotte's I-485 Outer Loop, and retail is following. In south Charlotte, where the Outer Loop meets Providence Road, nearly 350 acres of mixed-use development is being planned or is under construction, ac- cording to Steve Rich, Charlotte-based retail director for Col- liers International. First to open will be a Whole Foods–anchored development called Waverly, a mixed-use project on 90 acres with 235,000 square feet of retail. Among the other shops and eateries com- mitted to the project are Bad Daddy's Burger Bar, Ivy & Leo, Dressler's Restaurant, Ted's Montana Grill and Viva Chicken. Across the street, Lincoln Harris, a Charlotte real estate firm, won rezoning for the 194-acre former Golf Links property, S I T E S & C I T I E S Charlotte's new light-rail system is spurring development QUEEN CITY OF RETAIL MARKET PROFILE By Steve Bergsman A PRIME NASHVILLE SITE IS TO GE T THE PROJECT IT DESERVES 50 CHICAGO'S M AGNIFICEN T MIL E IS A LWAYS BECOMING MORE SO 51 E VERYONE WA N T S TO GO BACK TO K A NS A S CIT Y, MO. 52 T HE PL AC E S W HE RE RE TA IL D E V E LO PME N T I S H OT 5.1 percent unemployment, slightly above U.S. average of 4.7 percent Annual high- tech employ- ment growth is 4.8 percent, says JLL About 1 million square feet of additional retail space under construction 40 people moving in each day