Although bad news about the housing market is getting all the attention nationally, here in Murphy North Carolina I've seen a big increase in the number of new businesses opening, especially up and down busy Highway 64 West in the last few months.
Dollar General has built TWO new stores in Cherokee County - one in Ranger just off Hwy 64 next to Decker's Flea Market and the other in Marble at the corner of Hwy 19/74 and Hwy 141.
Sunrise Plaza, adjoining the New Happy Garden Chinese restaurant, sat empty for nearly two years. But in the last few months, all the storefronts have been filled.
Murphy Mattress Company, US Cellular, and Pots o Gold are now leasing space in the plaza and T-Nails has relocated from a smaller strip mall just down the road.
Nothing But Beds has recently reopened in Murphy, leasing space on Hwy 64 West. After closing his retail outlet located above Holiday Inn Express a few years ago, Joe Afonso operated his business from the main store in Andrews.
"But now rent on retail space in Murphy has become more reasonable and it makes sense to have a location here in the high traffic area on Highway 64 West in Murphy," Afonso explained.
Customer interest seems to be picking up as well.
In fact, while I was taking this picture at Afonso's new location the other day, a car pulled up in the parking lot with Florida license plates and the driver asked me if the store was open yet.
Landlords are not the only ones seeing an upswing in activity. Commercial real estate sales in Murphy North Carolina and Cherokee County have increased in 2010 as well.
A few weeks ago, a man stopped into my office to let me know he had just purchased a commercial property on Hwy 64 West that has been for sale for several years. He plans to open a new business there in the spring.
I'll be doing a followup to this market report with statistics on commercial real estate sales in Murphy and Cherokee County in the next few weeks.
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