Commercial Lease Market Overview

Myrtle Beach's commercial market is built around Grand Strand tourism — the area draws more than 20 million visitors a year, supporting an unusually large concentration of retail space for a city of only about 38,000 year-round residents, including Coastal Grand Mall (1,047,732 sqft, the state's second-largest indoor mall), the 525,385-sqft Myrtle Beach Mall, the 350-acre Broadway at the Beach entertainment complex, Barefoot Landing, and two Tanger Outlets locations. The Market Common, a mixed-use retail and residential district built on the former Myrtle Beach Air Force Base (closed 1993), added a newer master-planned alternative to the city's older strip-retail corridors. Office demand is comparatively thin: the area's largest employers are Horry County Schools, Coastal Carolina University, Horry County government, and the Conway Medical Center and Grand Strand Regional Medical Center health systems rather than a corporate office base, and the former base's ITAP (International Technology and Aerospace Park) redevelopment houses light-industrial and R&D tenants like AVX Corporation rather than traditional office space.

Myrtle Beach's commercial market is built almost entirely around Grand Strand tourism, so a retail lease here carries a seasonal-traffic risk a flat base rent doesn't capture — the same swing a percentage-rent or CAM true-up clause can shift heavily onto the tenant if it isn't scoped to the city's actual summer-to-winter visitor pattern.

Top Lease Risks in Myrtle Beach

Commercial tenants in Myrtle Beach most frequently encounter these problematic lease provisions:

1. Percentage-rent and CAM true-up clauses written around peak-season (spring/summer) traffic volumes rather than the Grand Strand's real off-season falloff, understating a tenant's true annual exposure

This clause creates significant financial exposure. In a balanced market like Myrtle Beach, 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. The Market Common district, built on the former Myrtle Beach Air Force Base (closed 1993), is a single master-planned, single-operator property — tenants there negotiate against one landlord's pricing rather than a fragmented ownership market, the same dynamic already seen at Mauldin's BridgeWay Station

This is a common risk in Myrtle Beach'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 Myrtle Beach 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 Myrtle Beach 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 Myrtle Beach Tenants

  1. Request actual comparable-lease data from a local commercial broker rather than a published aggregate — no primary (CoStar/CBRE/JLL-grade) market report was found specifically for Myrtle Beach
  2. For retail space in a prime tourist corridor (Market Common, Broadway at the Beach, Barefoot Landing, the Tanger Outlets), negotiate percentage-rent and CAM reconciliation on an annualized basis rather than a flat monthly assumption, given how sharply Grand Strand visitor traffic swings between summer and winter
  3. Commonly negotiated: given how much retail supply already exists citywide (Coastal Grand Mall's 1,047,732 sqft, the 525,385-sqft Myrtle Beach Mall, plus two Tanger Outlets locations) against a modest year-round population of roughly 38,000, tenants outside the most prime tourist-facing frontage may find more rent flexibility than the market's tourist-town reputation suggests
  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 Myrtle Beach?

The Myrtle Beach market is currently Balanced, driven by tourism and hospitality along the Grand Strand (20 million-plus annual visitors), large master-planned retail centers, and the Market Common mixed-use district on the former Air Force Base. 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 Myrtle Beach?

Office rents in Myrtle Beach are not widely published — no primary (CoStar/CBRE/JLL-grade) market report was found specifically for the city. The Grand Strand's commercial base is overwhelmingly retail and hospitality; the area's largest employers (Horry County Schools, Coastal Carolina University, Horry County government, Conway Medical Center, Grand Strand Regional Medical Center) are not traditional office-space tenants, and the former Air Force Base's ITAP redevelopment leans light-industrial and R&D rather than office. A local commercial broker's current data is the more useful benchmark.

What are typical retail rents in Myrtle Beach?

Retail rents in Myrtle Beach are not widely published as a confirmed primary figure, despite the city carrying an unusually large concentration of retail space for its roughly 38,000 year-round population — Coastal Grand Mall alone is over 1 million square feet. Treat any aggregator-modeled psf figure as directional, and expect real terms to vary sharply between prime tourist-corridor frontage (Market Common, Broadway at the Beach, Barefoot Landing) and the city's older strip-retail corridors.

Should I use a tenant-side broker in Myrtle Beach?

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.