New rates approved for Duke Energy Carolinas customers in South Carolina

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  • Public Service Commission of South Carolina approves nearly all components of a settlement agreement
  • Outcome supports company’s efforts to increase system reliability, diversity and enhance the customer experience while keeping rates below national average

GREENVILLE, S.C., July 8, 2024 /PRNewswire/ — The Public Service Commission of South Carolina (PSCSC) has approved new customer rates based on a settlement agreement with almost all parties in the Duke Energy Carolinas rate review request filed with the commission in January of this year.

The changes in customer rates – which remain below the national average – come after a lengthy and very public process evaluating a request to recover investments made to increase system diversity and reliability, enhance the customer experience and meet future energy demands for nearly 660,000 customers primarily in the Upstate region of South Carolina. 

The agreement with almost all parties, including certain consumer, environmental and industrial groups in South Carolina, was submitted in May. The agreement was reached with the South Carolina Office of Regulatory Staff, the South Carolina Energy Users Committee, Southern Alliance for Clean Energy, Coastal Conservation League, Vote Solar, and the South Carolina Small Business Chamber of Commerce. While not signatories to the agreement, both Walmart and CMC Recycling did not object to approval of the agreement.

Rate impacts

Beginning Aug. 1, 2024, a typical residential customer using 1,000 kilowatt hours will see an increase of about 8.7% or $12.06 per month. Beginning Aug. 1, 2026, residential rates will increase another 4.3% resulting in an additional $6.42 per month for a typical residential customer using 1,000 kilowatt hours.

Beginning Aug. 1, 2024, commercial and industrial customers will see an average increase of around 4.6% and 4.4%, respectively (actual rates vary by customer class and size).

The net increase reflects the company’s proposal to mitigate the requested rate increase by accelerating over two years the return of excess deferred income tax benefits resulting from the Federal Tax Cuts and Jobs Act of 2017 (“Tax Act”). This reduction would expire after two years.

Provisions of the settlement agreement approved by the PSCSC include recovery of new investments in highly efficient natural gas, nuclear, solar and hydroelectric units, as well as recovery of the company’s significant investments in the grid and its new corporate headquarters. The order also allows the company to establish rates based upon a return on equity of 9.94% and an equity component of the capital structure of 51.21%, as agreed to in the settlement. The final order revised recovery of certain environmental compliance costs, the only provision of the settlement agreement not fully approved by the PSCSC.

Providing support for customers

The PSCSC also approved – at shareholder expense – $2 million to perform a study and convene a collaborative of stakeholders to evaluate a broad spectrum of regulatory programs and protections for low-income customers, ranging from affordability programs, potential new tariffs, and other initiatives focused on enhancing assistance for low-income customers; and to help low-income customers complete health and safety repairs, which will allow for an increase in customer participation in programs that enable energy savings, such as the South Carolina Local Weatherization Assistance Program.

Duke Energy has numerous current and proposed energy efficiency programs available to customers who would like to exercise more control over their usage to lower their bills, which could help minimize the impact of the requested increase. Customers struggling to pay their energy bills might also qualify for assistance from various government and nonprofit programs for utility bills and other household expenses. Duke Energy also offers programs and resources to help customers manage their usage to lessen the impact of rate changes, as well as flexible payment arrangements to help customers experiencing uncertainty. Additional customer support is available through the Share the Light Fund, a Duke Energy program that provides energy assistance.

To learn more about these programs, visit duke-energy.com/summersavings.

Duke Energy Carolinas

Duke Energy Carolinas, a subsidiary of Duke Energy, owns 20,700 megawatts of energy capacity, supplying electricity to 2.9 million residential, commercial and industrial customers across a 24,000-square-mile service area in North Carolina and South Carolina.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company’s electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas unit serves 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and advanced nuclear.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on TwitterLinkedInInstagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

24-Hour media line: 800.559.3853

SOURCE Duke Energy

Charleston Business Spotlight: Tami Photography – When emotion and photography come together in symbiotic beauty

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The Lowcountry is a haven for those visual historians who are capturing the moments that will define our generation and beyond. We are blessed to have so much talent in our community. Today, we would like to spotlight a lady boss who brings passion, insight, warmth, and beauty to her form of visual art. Tami is a gifted photographer, short-form videographer and content strategist.

Let’s take a moment to tell you what makes Tami’s talent so important toward preserving the beauty of the Lowcountry. Tami Wharton is a photographer and artist that sees beyond the physical form and gets to the heart of the emotional core of her subjects. When you look closely, you can see the authentic love displayed by her clients.

For that, we admire her and are proud to showcase her talents and skills to you.

Official Website

Sample Portfolio

Available Photoshoots

Contact Information

Follow on Instagram

About Tami:

I am Tamera Wharton, Boss-Lady and photographer of Tami Photography.

I am happy that you stopped by to get to know me better. Soooo… here are some Photog Phun Phacts ( Photographer Fun Facts).

  1. 26
  2. Christian
  3. Leo Baby
  4. Caribbean Girl
  5. Charleston Southern University Alum ( Business Major)
  6. Creative Being

10 Unique Things You Can Do in Charleston, South Carolina in 2024

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Mark A. Leon

Here are some unique activities to do in Charleston, SC and surrounding areas. These activities range from horseback riding on the beach to full moon kayak trips; ghosts to dolphins and so much in between. Start your planning!

1. Paddleboard under a full moon through the tranquil marshes near Bohicket Marina. This nighttime adventure offers a magical way to explore Charleston’s waterways. Check out Charleston SUP Safaris for Full Moon Tours or Charleston Outdoor Adventures for Full Moon Kayak Tours.

2. Take an eco-tour to witness local bottlenose dolphins strand feeding – a unique hunting behavior only observed in this part of the world. Try Flipper Finders or Charleston Outdoor Adventures.

3. Visit the Old Charleston City Jail on a haunted tour to learn about the ghosts that allegedly still haunt the historic building. The team at Bulldog Tours will not let you down.

4. Go horseback riding on the beach at Seabrook Island, the only place that allows this activity in Charleston. Seabrook Island Equestrian has you covered.

5. Attend an oyster roast during oyster season (November to February) to experience a beloved local tradition.

6. Explore the Waring Historical Library (175 Ashley Ave, Charleston, SC 29403) to see rare medical instruments, books, and artifacts dedicated to the history of health sciences.

7. Make your own custom hat at one of Charleston’s hat shops. Our recommendation is Southern Ruetz Hat Bar and Maker Mall (Indoor artisan mall).

8. Take a haunted pub crawl that combines spooky tales with visits to local bars. Ghost City Tours will certainly whet your appetite.

9. Visit Middleton Place (4300 Ashley River Rd, Charleston, SC 29414), a 300-year-old former rice plantation with exquisitely preserved gardens and educational tours about the slave trade.

10. Spend a day on Sullivan’s Island, where you can explore the area’s connection to Edgar Allan Poe.

These activities offer unique ways to experience Charleston’s history, culture, and natural beauty.

Here are some additional great reads on this topic:

Middleton Place

5 Of The Most Catastrophic Natural Disasters in the History of Charleston, SC and the Lowcountry

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By Mark A. Leon

Charleston, South Carolina has experienced several significant disasters throughout its history. Here are 5 of the most catastrophic disasters in the history.

1. The Sea Islands Hurricane of 1893: This Category 3 hurricane caused massive destruction in Charleston and the surrounding areas. It resulted in at least 2,000 deaths in South Carolina, making it one of the deadliest natural disasters in the state’s history.

2. The Charleston Earthquake of 1886: On August 31, 1886, a 6.9 magnitude earthquake struck Charleston, causing widespread damage. While the exact number of casualties is not provided, it was a significant event that resulted in numerous deaths and injuries.

Aftermath of the Charleston Earthquake of 1886

3. The Great Hurricane of 1752: This powerful hurricane made landfall just south of Charleston, producing severe storm surge flooding and causing at least 95 deaths. It is considered one of the worst storms to ever hit Charleston.

4. Hurricane Hugo in 1989: While the exact casualty count for Charleston is not provided, Hugo caused significant damage to the city. The storm’s center passed near Charleston with hurricane-force winds, including a 109 mph gust recorded at Shaw Air Force Base.

5. The Charleston tornado of 1938: On September 29, 1938, a trio of tornadoes hit Charleston, demolishing the City Market. 27 fatalities and 80 injuries were attributed, mainly from collapsing buildings.

Fishburne Street after the 1938 tornado

These events highlight the vulnerability of Charleston and the surrounding Lowcountry to various natural disasters, including hurricanes, earthquakes, and tornadoes, which have caused significant loss of life and property damage throughout the city’s history.

Additional Resource Articles

Schneider Electric Forecasts 50% Surge in U.S. Industry Electrification by 2030, Announces $23.8 Million Investment and 280 New Jobs in South Carolina Operations Amid Electrification Trend

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  • The company’s Sustainability Research Institute projects uptick in Industry electrification and reduction in fossil fuel demand
  • Its investments to modernize and electrify its South Carolina operations advance its own sustainability and decarbonization targets
  • Planned 280 new South Carolina jobs add to the 1,200 workers it currently employs in the state

WASHINGTON, D.C./PRNewswire/ — Schneider Electric — the global leader in the digital transformation of energy management and automation — released a new report that projects that electrification of U.S. industry will grow from 30 percent to 45 percent by 2030, a 50 percent increase. The report, compiled by the company’s Sustainability Research Institute, also recognizes the potential for a corresponding 25 percent reduction in fossil fuel demand over the same period.

The report provides detailed analysis by sector, projecting that 16 of 21 sectors will reach 60% electrification by 2030. Further, it projects that U.S. industry as a whole will reach 64% electrification by 2040 with a corresponding 50 percent reduction in fossil fuel use.

In tandem with these trends, Schneider Electric will upgrade, modernize, and maintain its Seneca and Columbia manufacturing plants; it will also electrify Seneca’s heating, ventilation, and air conditioning system to enhance its efficiency and reduce costs advancing its own sustainability and decarbonization targets. 

Altogether, the company will invest $23.8 million into its South Carolina manufacturing operations. The company also said it expects to create 280 new production jobs in the state, including 130 jobs in its Seneca facility and 150 jobs in its Columbia facility adding to the more than 1,200 workers Schneider Electric currently employs in South Carolina. Hiring at both facilities will take place over the course of 2024.

This expanded workforce will manufacture custom power distribution products that are integral to electrification and energy efficiency, bolstering support for critical infrastructure, industries—particularly healthcare and wastewater treatment—and the escalating demand for data center solutions across the U.S.

Speaking at the SelectUSA Investment Summit, Schneider Electric President of North America Operations Aamir Paul said: “This new research demonstrates why electrification is the most promising and practical means of decarbonizing industry quickly. We anticipate significant acceleration across all sectors, even hard-to-abate industry, to reach decarbonization targets and maintain economic competitiveness. As we move more towards this electrified and digitized world, we’re spearheading this transformation through our own investments in a robust domestic supply chain, including in the state of South Carolina to bolster our manufacturing efforts for customers.”

Commenting on the announcement, South Carolina Governor Henry McMaster said: “Schneider Electric’s further investment in South Carolina is a testament to our strong business climate and skilled manufacturing workforce, and we look forward to the economic opportunities this expansion will create for residents in Oconee and Richland Counties.”

In March, Schneider Electric announced plans to invest $140 million into its U.S. manufacturing operations and create about 750 new manufacturing jobs across the country in 2024. The company’s South Carolina investments, which are accounted for in the 2024 financial and jobs totals, follow its recent manufacturing expansion announcements in Tennessee and Texas. Since 2020, Schneider Electric has invested more than $440 million across its American manufacturing network, which includes more than 22 facilities across 14 states.

Schneider Electric has had a presence in the U.S for 135 years. The company employs more than 19,000 workers in the country and its products and solutions can be found in four of 10 U.S. homes, 40 percent of the world’s hospitals, and in water and wastewater installations in 150 countries. 

In 2023, TIME magazine named Schneider Electric to its 100 Most Influential Companies list recognizing it for work done to help clients reduce greenhouse-gas emissions. The company is also ranked among the Top 10 of the 2023 Best Workplaces in Manufacturing & Production by the Great Place to Work U.S. organization and Fortune magazine.

More information about Schneider Electric’s heritage and presence in America can be found here.

About Schneider Electric 

Schneider’s purpose is to create Impact by empowering all to make the most of our energy and resources, bridging progress and sustainability. At Schneider, we call this Life Is On.

Our mission is to be the trusted partner in Sustainability and Efficiency.

We are a global industrial technology leader bringing world-leading expertise in electrification, automation and digitization to smart industries, resilient infrastructure, future-proof data centers, intelligent buildings, and intuitive homes. Anchored by our deep domain expertise, we provide integrated end-to-end lifecycle AI enabled Industrial IoT solutions with connected products, automation, software and services, delivering digital twins to enable profitable growth for our customers.

We are a people company with an ecosystem of 150,000 colleagues and more than a million partners operating in over 100 countries to ensure proximity to our customers and stakeholders. We embrace diversity and inclusion in everything we do, guided by our meaningful purpose of a sustainable future for all.

www.se.com  

Spirit AeroSystems Announces Acquisition by Boeing in $8.3 Billion Transaction

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Enters into Term Sheet for Airbus to Assume Ownership of Certain Airbus Program Assets

WICHITA, Kan./PRNewswire/ — Spirit AeroSystems [NYSE: SPR] (“Spirit”) today announced it has entered into a definitive merger agreement under which The Boeing Company [NYSE: BA] (“Boeing”) will acquire Spirit for $37.25 per share in Boeing common stock (subject to the collar described below). At $37.25 per share, this represents an equity value of approximately $4.7 billion and an enterprise value of approximately $8.3 billion including Spirit’s last reported net debt. The price of $37.25 per share represents a 30% premium to Spirit’s closing stock price of $28.60 on February 29, 2024, the day before Spirit and Boeing issued press releases confirming they were in discussions regarding a potential transaction.  

“After carefully evaluating Boeing’s offer to combine, we are confident this transaction is in the best interest of Spirit and its shareholders, and will benefit Spirit’s other stakeholders,” said Patrick M. Shanahan, President and Chief Executive Officer of Spirit. “Bringing Spirit and Boeing together will enable greater integration of both companies’ manufacturing and engineering capabilities, including safety and quality systems.” 

Spirit also announced today that it entered into a binding term sheet with Airbus SE [EUR: AIR.PA] (“Airbus”). Under the term sheet, the parties will continue to negotiate in good faith to enter into definitive agreements for Airbus to acquire certain Spirit assets that serve Airbus programs, concurrently with the closing of Spirit’s acquisition by Boeing.  

Shanahan continued, “We are proud of the part we have played in Airbus’ programs and believe bringing these programs under Airbus ownership will enable greater integration and alignment.” 

Transaction Terms 

Under the terms of the definitive merger agreement with Boeing, Spirit shareholders will receive for each of their shares of Spirit common stock a number of shares of Boeing common stock equal to an exchange ratio calculated as $37.25 divided by the volume weighted average share price (VWAP) of Boeing common stock over the 15-trading-day period ending on the second trading day prior to the closing (the “Closing Price”), subject to a floor of $149.00 per share of Boeing common stock and a ceiling of $206.94 per share of Boeing common stock. Spirit shareholders will receive 0.25 shares of Boeing common stock for each of their shares of Spirit common stock if the Closing Price is at or below $149.00, and 0.18 shares of Boeing common stock for each of their shares of Spirit common stock if the Closing Price is at or above $206.94.  

The definitive merger agreement with Boeing and the term sheet with Airbus were unanimously approved by the Spirit Board of Directors. The closing under the definitive merger agreement with Boeing is subject to the completion of the divestiture of the Airbus businesses by Spirit and is subject to other closing conditions, including approval of the definitive merger agreement by Spirit shareholders and receipt of regulatory approvals. The closing of the Airbus transaction, if a definitive agreement for the Airbus transaction is entered into with Airbus, will be subject to the substantially concurrent closing of the Boeing acquisition of Spirit and will be subject to other closing conditions, including the receipt of regulatory approvals. The closings of these transactions are expected to occur in mid-2025. 

In addition, Spirit plans to pursue the divestiture of certain operations. These include Spirit’s business and operations in (1) Subang, Malaysia, (2) Prestwick, Scotland that support Airbus programs, and (3) Belfast, Northern Ireland other than those that support Airbus programs. 

Advisors 

Morgan Stanley & Co. LLC is serving as lead financial advisor to Spirit. Moelis & Company LLC is also serving as a financial advisor to Spirit. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Spirit. 

On the web: www.spiritaero.com  
On Twitter: @SpiritAero 

About Spirit AeroSystems Inc. 

Spirit AeroSystems is one of the world’s largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. With expertise in aluminum and advanced composite manufacturing solutions, the company’s core products include fuselages, integrated wings and wing components, pylons, and nacelles. We are leveraging decades of design and manufacturing expertise to be the most innovative and reliable supplier of military aerostructures, and specialty high-temperature materials, enabling warfighters to execute complex, critical missions. Spirit also serves the aftermarket for commercial and business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the U.S., U.K., France, Malaysia and Morocco. More information is available at www.spiritaero.com

Related: CEO Announcement to the employees at Spirit AeroSystems Inc.

10 Common Misconceptions about People from Charleston, South Carolina

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Every culture; every region; every lifestyle has common behaviors and ways of life. Often times, perceptions are made based on entertainment, media, and even word of mouth. We uncovered some common misconceptions people have about Charlestonians:

1. Everyone in Charleston has a strong Southern accent. In reality, many residents are transplants from other areas, and accents vary widely.

2. Charlestonians only eat fried foods. While Southern cuisine is popular, the city has a diverse food scene with many culinary options.

3. They only listen to country music. Charleston actually has a vibrant music scene including jazz, indie, and other genres.

4. All Charleston women are like Scarlett O’Hara. This Hollywood stereotype doesn’t reflect the diversity of women in the city.

5. Life in Charleston is exactly like the TV show “Southern Charm”. The reality show doesn’t accurately depict everyday life for most residents.

6. Everything moves slowly in Charleston. While the city has a relaxed vibe, not everything is slow-paced.

7. All Charlestonians live in historic homes downtown. In reality, many live in modern homes and suburbs outside the historic district.

8. Everyone in Charleston is extremely wealthy. The city has diverse socioeconomic levels, not just “old money”.

9. Charlestonians are uneducated or “slow”. In fact, Charleston has several highly-ranked educational institutions.

10. All residents are obsessed with sports and drive pickup trucks. While some fit this stereotype, Charleston offers diverse interests and lifestyles.

What to learn more? Here are a few great additional articles:

10 Misconceptions About Charleston – Walks of Charleston  
Debunking Common Myths about Charleston – The Cassina Group 
19 Stereotypes About South Carolina That Need To Be Put To Rest – Only in Your State
Charleston Tour to Correct Myths About City – WLTX

Stay connected and subscribe to Charleston Daily.

5 Charleston, SC Restaurants that offer cozy and intimate ambiance for that special night out

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Are you looking for something casual, yet intimate; romantic, yet approachable? We have five (5) wonderful options that will not disappoint in Charleston, South Carolina. Click the links for the official websites and online menus.

1. R. Kitchen (212 Rutledge Avenue, Charleston, SC 29403): A cozy, casual restaurant in the Westside neighborhood. It has a warm and inviting atmosphere with a bright and airy dining area decorated in red, green, and yellow shades. The restaurant is open Tuesday – Sunday with seatings at 6:00 PM and 8:00 PM and the meal is $70.00 per person + tax. INSTAGRAM

2. Frannie & The Fox (181 Church St, Charleston, SC 29401): Located inside a cute hotel, it has a relaxing vibe and nice decor. Reviews mention its “awesome” atmosphere that’s always busy. There are a number of special events. Click HERE for themed events and special nights. INSTAGRAM

3. Southbound (72 Cannon St, Charleston, SC 29403): Described as having a “unique and enjoyable” ambiance. It serves food and drinks “in a timeless setting.” INSTAGRAM

4. Mario’s Italian Ristorante (487 King St, Charleston, SC 29403): Reviewers describe it as having a “cozy atmosphere” and mention it’s great for a comfortable dining experience.

5. Honeysuckle Rose (237 Fishburne St, Charleston, SC 29403): While not much is said specifically about the ambiance, multiple reviews describe it as an “absolutely delightful experience” that compares favorably to high-end restaurants. This 9-course meal with wine and champagne pairings with each course offers one seating a night and is $250.00 per person. Click HERE for the Charleston Daily Restaurant review. INSTAGRAM

These restaurants seem to offer intimate, welcoming environments that contribute to a cozy dining experience, making them hidden gems in Charleston’s culinary scene.

22 Things for Your Charleston, South Carolina Summer Bucket List

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Here’s a bucket list of 21 things to do in Charleston, SC this summer:

1. Explore the historic downtown district and admire the beautiful architecture.

2. Visit Fort Sumter National Monument.

3. Shop and dine on King Street. If the timing is right, Second Sunday on King is an event all its own.

4. Take a carriage ride through the city.

5. Relax on Folly Beach and enjoy the ocean.

6. Watch Fourth of July fireworks at Patriots Point.

7. Tour a historic plantation like Magnolia Plantation.

8. Enjoy a Charleston RiverDogs baseball game.

9. Explore the Charleston City Market.

10. Visit the South Carolina Aquarium.

11. Take a sunset sail in Charleston Harbor.

12. Stroll through the Battery and White Point Garden.

13. Cool off at the Pineapple Fountain in Waterfront Park.

14. Visit the Children’s Museum of the Lowcountry.

15. Take a kayak tour through the marshes.

16. Visit the Charleston Museum.

17. Enjoy the Summer Wine Festival (August 24).

18. Explore Charles Towne Landing State Historic Site and zoo.

19. Take a ghost tour of Charleston’s haunted spots.

20. Attend the Charleston Caribbean Jerk Festival (July 20).

21. Book a photo shoot with The Pink Figgy.

22. Take an emotional journey at the International African American Museum.

This list offers a mix of cultural events, outdoor activities, historical sites, and local experiences to make the most of your summer in Charleston.

Want more ideas? These articles will help expand you options:

The Pink Figgy

Charleston City Market

Magnolia Plantation & Gardens

For Sale: Coterie – Restaurant in Historic Downtown Charleston, SC – $595K

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The Elliotborough Neighborhood restaurant Coterie is for sale for $595,000. Here is what you need to know:

Coterie (17 Warren St, Charleston, SC 29403) – Restaurant for Sale

Restaurant Size: The property includes approximately 1,600 square feet of space. The indoor dining area accommodates 40 seats, including 6 low bar stools. The covered patio features 36 seats including 12 seats at the bar and 28 seats on the open patio. The fully equipped kitchen is ready to accommodate any restaurant concept.

Prime Location: Situated just off King Street in the vibrant Upper King District, this location offers excellent visibility and foot traffic, making it a prime spot for a successful restaurant.

Sales Price: $595,000.00, includes the lease, equipment, and fixtures.

Base Rent: $8,000.00 per month.
Sales Rent: An additional 8% of sales over $99,000.00

This listing presents a fantastic opportunity to establish or expand a restaurant in the bustling and popular area of Downtown Charleston.

Coterie Instagram