CBRE Arranges Two Retail Leases Bringing New Luxury Clothing Brands to Charleston’s King Street

CBRE has arranged two new leases on Charleston’s King Street, marking the entrance of two New York City-based luxury clothing brands into the market.

Rag & Bone, a fashion label with 35 stores worldwide, leased space at 363 King Street. Alice + Olivia, a contemporary clothing company with 35 freestanding boutiques in the U.S., leased space at 364 King Street.

Joseph Purze represented the landlord, Middle King Partners LLC, in lease negotiations.

"Our team is pleased to have facilitated these leases on behalf of the properties’ new owners," said CBRE’s Purze. "Brands of this caliber expanding into Charleston’s famed King Street is a testament to the city’s robust retail and hospitality market."

The new leases are within a five-building portfolio purchased in May 2023. The properties, 363-369 King Street, comprise two and three-story buildings with 36 upper-level apartment units and 12,000 square feet of ground-level retail space. Only one retail vacancy in the portfolio remains – a 3,340-square-foot space at 369 King Street.

The owners are currently renovating the portfolio. Improvements include upgrading the facades and storefronts facing King Street, as well as updating the upper-level apartment units and adding a tastefully designed courtyard, an on-site wellness center and laundry facility, and additional security and safety features. Renovations are scheduled to be completed in the first quarter of 2024.

The properties are situated on Middle King, within walking distance of Marion Square and the College of Charleston.