Retail Remains Strong Behind Job Growth

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The Charleston, South Carolina, market’s strong employment growth and rising household incomes continue to fuel an attractive environment for retailers, according to Colliers Market Analyst Will Schenk.

Schenk said in a Q4 2024 Charleston retail report that vacancy remains at rock-bottom levels even with the delivery of 138,102 square feet of new supply, including a new Publix-anchored shopping center and three unanchored strip centers in the rapidly developing Nexton area.

In his forecast, Schenk said income levels are growing across the market as Charleston remains a destination for remote workers, spurring interest from higher-end grocers including a new Mount Pleasant lease by Fresh Market.

Asking rents, he said, continue to grow behind healthy demand for space along commuting corridors, reaching as high as $55.00/square foot in Mount Pleasant.

He added robust investment activity reflects the market’s overall health, headlined by the sale of a recently delivered portfolio at Nexton Square for $409/SF.

Schenk’s report said vacancy decreased to 1.93 percent as the market absorbed a net 172,467 square feet, primarily in newly delivered space.

He also said shop-space asking lease rates rose to $33.21 per square foot, bolstered by new construction and rising incomes.

In all, 138,098 square feet of new construction were delivered as the remaining unleased space contributed to rising asking rents, Schenk said.

Majors Management Acquires Fuel Supply Contracts From Bluebonnet Petroleum

Majors Management, LLC announced the successful acquisition of Chevron-branded retail fuel supply contracts from Bluebonnet Petroleum, Inc.

Financial terms weren’t disclosed.

"We are excited to expand our supply presence in the east-central Texas market by adding these Chevron locations to our growing network," said Ben Smith, president of Majors.

Smith added, "It was a privilege to work closely with Stephanie and the Bluebonnet team to complete this transaction quickly and seamlessly. We continue to broaden our supply network and are pleased to add more Chevron sites to our extensive portfolio.”

Officials said the acquisition aligns with Majors' ongoing strategy of pursuing strategic growth opportunities to further expand its presence in key markets.

Lawrenceville, GA-based Majors Management, LLC is an owner, developer and operator of convenience stores and a distributor of branded and unbranded motor fuels.

Majors and its affiliates supply fuel to over 1,400 convenience store locations.

Majors’ current markets include:

Alabama, Arkansas, Arizona, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and West Virginia.

Four Finalists Named In Search For Next Greenville Technical College President

The Greenville Technical College Area Commission has announced the selection of four finalists for the position of college president.

Officials said the announcement follows a thorough search that yielded 61 applicants from across the community, state, and nation and a review and interview process that narrowed the field to 11 semi-finalists. 

The finalists, in alphabetical order, are:

Sarah Barlow, the provost and vice chancellor for workforce and student development at Baton Rouge Community College (BRCC) in Louisiana. Previously, she served as the vice chancellor for academic and student affairs at BRCC.

Barlow holds a Ph.D. in English from the University of Louisiana at Lafayette, as well as both a master’s and a bachelor’s degree in English from the University of Toledo.  

Amy Bosley, the president of Northwest Vista College, TX. Bosley previously served as the chief of staff and vice president for institutional planning and development at Valencia College, FL.

Bosley earned a Doctor of Education from Nova Southeastern University, a Master of Arts from the University of Central Florida, and a Bachelor of Arts from the University of Central Florida. 

Quentin Johnson, the president of Southside Virginia Community College, VA.

Previously, Johnson served as the vice president for student support services at Guilford Technical Community College, NC.

Johnson earned a Doctor of Philosophy from the University of Maryland Eastern Shore, a Master of Arts from Bowling Green State University, and a Bachelor of Science from Defiance College.

Larry Miller, vice president of learning and workforce development at Greenville Technical College (GTC), SC.

Previously, Miller served as the director of institutional research at GTC.

Miller earned a Doctorate in Public Administration from Syracuse University, a Master of Business Administration from the State University of New York at Buffalo, and a Bachelor of Science in Business Administration from the State University of New York at Buffalo.

Officials said each candidate will provide an overview and answer questions at public forums, open to the community as well as faculty, staff, and students.

All forums will be held in the Multi-Purpose Room at the Prisma Health Center for Health & Life Sciences (building 101) on Greenville Technical College’s Barton Campus according to the following schedule:

Monday, March 10, 2025, 10:15-11:15 a.m. and 2:15-3:15 p.m.

Sarah Barlow 

Tuesday, March 11, 2025, 10:15-11:15 a.m. and 2:15-3:15 p.m.

Amy Bosley

Wednesday, March 12, 2025, 10:15-11:15 a.m. and 2:15-3:15 p.m.

Quentin Johnson

Thursday, March 13, 2025, 10:15-11:15 a.m. and 2:15-3:15 p.m.

Larry Miller

At each forum, attendees can provide feedback that will be reviewed by the college’s Area Commission.

Following input, the commission is expected to name Greenville Technical College’s third president in April.

The selected candidate will succeed Keith Miller, Ph.D.

Long-Term Care Costs Increase in South Carolina, On Par with National Costs

The cost of long-term care services in South Carolina increased year-over-year, but remains on par with national costs, according to the 2024 Cost of Care Survey conducted by Genworth and CareScout.

National 2024 Cost of Care Survey data showed a continued upward trajectory in long-term care costs across care types, with cost increases for most care types continuing to outpace inflation rates.

The top factors contributing to increased costs were inflation and labor costs. 

The annual Cost of Care Survey, one of the most comprehensive studies of its kind, contacted more than 140,000 long-term care providers nationwide to complete more than 15,000 surveys for nursing homes, assisted living communities, adult day health facilities and home care providers from July to December 2024.

The survey collected rates for 2024 and includes 431 regions based on the Metropolitan Statistical Areas, defined by the Office of Management and Budget as a core area containing a substantial population nucleus, together with adjacent communities having a high degree of economic and social integration with that core.

However, due to statistical variance, actual costs for long-term care services may differ from the projected cost based on ZIP Code or location, officials said.

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