Marcus & Millichap is pleased to offer for sale a fee-simple interest in the Element Development Site. Conveniently located minutes from the Charleston International Airport, Boeing, Joint Base Charleston, Tanger Outlet Shopping Center, and the Charleston Area Convention Center. The Element Development Site is just off of Interstate-26 and is situated in close proximity to Historic Downtown Charleston, which is one of the most historical and most visited cities in the U.S. Charleston was rated as the “World’s Best City” by Travel + Leisure Magazine, hosting over 5.1 million people visitors annually. Experiencing a 5.2% growth year over year, Charleston is a strong market with diverse demand generators.
Located along the Atlantic seaboard, the Charleston metro encompasses Charleston, Berkeley and Dorchester counties in southeastern South Carolina. A favorable business climate is helping draw companies and workers to the region. Vehicle manufacturing in particular is growing with recent expansions at Mercedes-Benz and Volvo. The metro population has grown by roughly 243,000 people since 2000 and the market is forecast to receive another 75,000 people through 2024. Charleston is the largest city in the metro with 142,000 residents, followed by North Charleston with 109,800. Of the 5.1 million annual tourists who visit Charleston, a majority come for this beautiful and historic piece of the city. The downtown area is 4 to 5 square miles and easily accessible from Mt. Pleasant via the Ravenel Bridge, from North Charleston and beyond via Interstate 26, and from the West of the Ashley by Route 17.
The Historic Charleston Downtown District is a beautifully preserved collection of historic landmarks, monuments, and cultural sites that have stood throughout the city’s history, representing the cultural capital of the South. The district offers a variety of attractions, from eating at the Charleston City Market to shopping along King Street, exploring the Battery or strolling through Waterfront Park. Charleston’s Museum Mile is one of downtown’s major draws, with six museums, five nationally important historic houses, four scenic parks and a Revolutionary War powder magazine, the oldest public building in South Carolina.