Best Bargain: Main Street Retail - Spring 2000

Main Street’s net rental rates of $12 per sq. ft. for retail space are looking mighty appealing these days, compared to St. Armands Circle ($40 to $60 per sq. ft.), Southgate Plaza ($35 to $40 per sq. ft.), and various U.S. 41 locations ($16 to $22 per sq. ft.).  What is keeping Main Street rates so low? Talk to some of the merchants and restaurateurs, and the response is limited parking and concerns about safety.  Meanwhile in the “SOMA” District (South of Main), which includes Little Five Points and Burns Court, net rental rates are $14-$16 per sq. ft. for retail space.  The difference? Despite limited parking, the SOMA District has a boutique flair in a compact area.