October 16, 2017
CRC Signs Sally Beauty Supply to Lease at West Ashley Shoppes in Charleston, South Carolina
Sally Beauty Supply has signed a lease with CRC for space within West Ashley Shoppes, a 136,242 square foot retail center located at 946 Orleans Road in Charleston, South Carolina. The Baltimore-based real estate investment and management company acquired the project last October. Elyse Welch of Colliers International represented the landlord and Lindsay Stafford of Katz & Associates represented the tenant in this transaction.
Sally Beauty Supply operates more than 3,500 stores nationally and offers more than 10,000 products for hair, skin, and nails through professional lines such as Clairol, L’Oreal, Wella and Conair. The store also markets an extensive selection of proprietary merchandise. Headquartered in Texas, it is part of Sally Beauty Holdings, Inc., which is considered the largest distributor of professional beauty products in the country based on store count. The store is expected to open in the first quarter of 2018.
West Ashley Shoppes services the Charleston submarket of West Ashley and is positioned directly adjacent to the Citadel Mall. The center is anchored by four national tenants in Bed Bath & Beyond, Cost Plus World Market, Ross Dress for Less, and Party City. The average household income within a three-mile radius of the property exceeds $62,000 and more than 122,000 people reside within a five-mile radius.
“Sally Beauty Supply is an extremely high-performing tenant with a strong and loyal customer following,” stated David Donato, Senior Vice President of Continental Realty Corporation. “Their addition to West Ashley Shoppes adds another destination tenant to merchant mix.”
Continental Realty Corporation (CRC), headquartered in Baltimore and founded in 1960, is a full-service commercial real estate investment and management company. The privately-owned firm owns and manages a diversified portfolio of retail centers consisting of over 3.5 million square feet of space, as well as apartment communities featuring nearly 10,000 apartment homes. Positioned throughout the Mid-Atlantic and Southeast regions, the value of the portfolio exceeds $1.5 billion.