February 17, 2020
CRC Attracts Three New tenants to West Ashley Shoppes in Charleston, Elevating Occupancy to 99%
CHARLESTON, SC (February 10, 2020) – Continental Realty Corporation (CRC) has announced three signed leases at West Ashley Shoppes, a shopping center at 946 Orleans Road. The new tenants are Carolina Spine and Sport, Cayman Young – State Farm Insurance Agency, and the South Carolina Department of Motor Vehicles. Representing the landlord at each transaction were Melissa Sweeney, Commercial Leasing Manager with CRC; as well as Associate Lindsey Halter and Senior Associate Elyse Welch from the Charleston-based real estate firm, Lee & Associates. The additional tenants at West Ashley Shoppes elevate the occupancy of the 136,242-square-foot retail venue to 99%.
Carolina Spine and Sport, owned by Dr. Dev’n Moran, utilizes the McKenzie Methods to diagnosis the patient’s medical issue and then implements a structured regime of pain relief, stabilization and preventative practices to create successful and long-lasting outcomes. “We believe in adding motion to the body and joints, a philosophy that is backed with our on-site fitness center overseen by professional trainers,” explained Dr. Moran. “As a new practice, excellent highway visibility and regular consumer traffic is vital to our success, which are the two main reasons we selected West Ashley Shoppes. New apartment complexes are being built directly across the street, and the presence of the Department of Motor Vehicles facility will insure a steady influx of new visitors to the center on a regular basis.” The office is expected to open by the end of March.
Cayman Young – State Farm Insurance Agency provides a full array of insurance and financial products targeted to both small businesses and individuals. This includes policies that provide insurance coverage for business operations, life, homes, apartment renters, automobiles, motorcycles and boats. “West Ashley is a booming area and this location presents a tremendous opportunity for me to work with local individuals to help protect their pay checks,” stated Cayman Young, who is a third generation insurance executive with more than 10 years of experience. “When I signed the lease, I did not realize the DMV was locating here, but now consider this a major stroke of luck. I plan to capitalize on the influx of traffic to the center.”
The South Carolina Department of Motor Vehicles relocated to West Ashley Shoppes last December, opening the largest full-service office in the state. Featuring 19 service counters, the center enables residents to obtain licenses, vehicle titles, and registration cards, among other documents, and to pay fees and take road tests.
West Ashley Shoppes, located adjacent to the Citadel Mall, services the Charleston submarket of West Ashley. Four national tenants anchor the shopping center – Bed Bath & Beyond, Cost Plus World Market, Ross Dress for Less, and Party City. More than 122,000 people reside within a five-mile radius of the property, and the average household income within a three-mile radius exceeds $62,000.
“Our goal is to create a diverse mix of tenants in our shopping centers that fits the needs of the surrounding populations. We’re excited about the contributions that these new, service-oriented tenants will make to the West Ashley Shoppes community,” said Kristina O’Keefe, Senior Leasing Manager of Continental Realty Corporation. “The South Carolina DMV office in particular will bring a high volume of unique visitors to the center, a situation likely to benefit all of our tenants on a daily basis. We constantly evaluate our merchant offerings to meet the changing needs of the community.”
Continental Realty Corporation (CRC) is focused on acquiring value-add retail and multifamily properties located throughout the Mid-Atlantic and Southeast regions of the United States. Headquartered in Baltimore and founded in 1960, CRC is a full-service commercial real estate and investment company. The privately-owned firm owns and manages a diversified portfolio of retail centers consisting of more than 5 million square feet of commercial space, as well as almost 10,000 apartment homes. Positioned throughout the Mid-Atlantic and Southeast regions, the portfolio’s value exceeds $2 billion. For additional information, visit www.crcrealty.com
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