Commercial Lease Market Overview

Conway is the Horry County seat, sitting inland along the Waccamaw River and a genuinely different commercial market than beachfront Myrtle Beach's tourism-driven economy — one built on government, healthcare, and education rather than seasonal visitor traffic. The Horry County Government and Justice Center anchors office-adjacent demand downtown, alongside Conway Medical Center and Coastal Carolina University, which reached a record 11,881 students in fall 2025. Downtown's Main Street and Riverwalk district — the Conway Downtown Historic District, listed on the National Register since 1994 and expanded as recently as 2025 — has revitalized around independent retail and restaurants along the river, while the city's rapid population growth (up 45.3% from 2010 to 24,849 residents at the 2020 census) has pushed newer commercial development toward the Highway 501 and 501 Bypass corridors outside the historic core.

Conway landlords in the National Register-listed Downtown Historic District must route exterior renovation, signage, and storefront changes through the city's Community Appearance Board, a compliance step often pushed onto the tenant as both cost and delay risk.

Top Lease Risks in Conway

Commercial tenants in Conway most frequently encounter these problematic lease provisions:

1. Design-review compliance costs and delay risk for exterior renovation or signage inside the Conway Downtown Historic District (boundary expanded as recently as 2025) shifted onto the tenant

This clause creates significant financial exposure. In a balanced market like Conway, landlords have leverage to include provisions that shift cost and risk onto tenants. Review any such clause carefully with a commercial real estate attorney before signing.

2. No independently confirmed office or retail rent figure exists for Conway itself, and the tight historic downtown core is a different submarket than the newer Highway 501/501 Bypass retail corridor, so a single citywide asking rate would be unreliable

This is a common risk in Conway's commercial lease market. Tenants often overlook this provision during negotiations, only discovering its impact after the lease is executed. Negotiate a carve-out or modification before you sign.

3. CAM Expense Transparency

Common area maintenance charges in Conway vary widely by submarket and building class. Landlords in this market sometimes include vague CAM definitions that allow broad cost inclusions. Commonly requested: 3 years of historical CAM statements, alongside an annual cap (3–5%) on increases.

4. Personal Guaranty Scope

Personal guaranty requirements in Conway range from reasonable to extreme depending on landlord, submarket, and tenant credit profile. Know your leverage: established businesses with strong financials can often negotiate shorter guaranty terms or a guaranty burndown provision.

Negotiation Priorities for Conway Tenants

  1. Confirm before signing whether a downtown space falls inside the Conway Downtown Historic District boundary and get the Community Appearance Board's design-review and signage-approval timeline in writing
  2. Negotiate historic-district design review and signage-approval costs as a shared or landlord expense rather than an automatic tenant pass-through
  3. Request comparable-lease data specific to the exact submarket — downtown historic core versus the Highway 501/501 Bypass corridor — rather than a single citywide asking rate, given how little primary market data exists for Conway itself
  4. Request 3 years of historical CAM reconciliation statements — reveals pattern of expense escalation and unexpected charges.
  5. Require subordination, non-disturbance, and attornment (SNDA) agreement — protects your lease if the building is sold or the landlord defaults on their mortgage.

Frequently Asked Questions

What is the commercial lease market posture in Conway?

The Conway market is currently Balanced, driven by Horry County government (the county seat), healthcare (Conway Medical Center), and Coastal Carolina University, inland from Myrtle Beach's coastal tourism economy. This means tenants should expect a reasonably level playing field where both parties have negotiating room, especially for longer lease terms.

What are typical office rents in Conway?

Office rents in Conway are not widely published as a confirmed primary figure. The city's small office market — mostly county-government- and healthcare-adjacent space near the Horry County Government and Justice Center and Conway Medical Center — isn't tracked separately from the broader Myrtle Beach/Horry County market by major commercial brokerages. A local commercial broker's current data is the more reliable benchmark than any citywide average.

What are typical retail rents in Conway?

Retail rents in Conway are not widely published as a confirmed primary figure. The tight, design-review-constrained Downtown Historic District along Main Street and the Riverwalk is a different submarket than the newer, less-constrained retail along the Highway 501/501 Bypass corridor, so a single citywide rate would understate how much terms vary block by block.

Should I use a tenant-side broker in Conway?

Yes — always. Tenant-rep brokers are paid by the landlord through commission splits, so their services are effectively free to you. A local tenant-rep broker brings current market data, comparable lease terms, and negotiation experience that can save you far more than their commission. In a balanced market, professional representation is especially valuable.