A longtime King Street retailer is pulling out of downtown Charleston after the new year to consolidate operations in its Mount Pleasant shop.

Bits of Lace Fine Lingerie at 302 King St. will leave the city’s main shopping district during the first quarter of 2016 after 39 years, owner Ruth Brennan said. All merchandise will be moved to the East Cooper shop of the same name at 453 W. Coleman Blvd., where Brennan is considering expanding the warehouse.

“That’s a great location with lots of parking,” she said. “It’s just across the bridge, and it’s right before you get to Shem Creek.”

Brennan wasn’t at liberty to say who will take over her longtime lease of the 2,000-square-foot Charleston shop. She said her decision to leave is based partly on limited parking and on rising rents driven mainly by national retailers with deep pockets.

“The biggest hurdle for local retail owners is that they are competing with national companies who are able to pay quite a large fee to rent space on King Street,” she said. “That has caused the lease rate to go higher and higher.”

The average annual rental rate for retail space in downtown Charleston is more than $38 per square foot, according to a report in November from commercial real estate firm Lee Associates. That’s about $20 more than the next highest market in the region, Mount Pleasant. The average rate is about $15 per square foot for the Charleston area.

Brennan also said more shoppers are turning to online and mobile options. She launched her website 10 years ago, and plans to introduce a mobile van to take her product line out into the community.

“Retail is a constantly evolving business,” Brennan said. “At Bits of Lace, we pride ourselves on our ability to stay current and provide the service and products our customers want. We’ve had an incredible run at our King Street location and have made invaluable connections with countless locals.”

She added, “Focusing on our Mount Pleasant location and e-commerce site now, along with several other exciting new initiatives we have planned for 2016, will allow us to remain relevant while still local-minded.”

The store originally opened on Vendue Range in 1976. It has been at a couple of different locations on King Street since 1977. Brennan bought it in 2000.

Lights out

Also leaving the downtown area is University Books of Charleston at 360 King St. The shop closed last week.

The building that housed the business sold in September to an arm of Parallel Asset Management of Connecticut for $5.5 million.

The first-floor former bookstore space encompasses about 5,600 square feet. Two floors of student housing are upstairs. The space is to be renovated. No word yet on who the new retail tenant will be.

New threads

A Colorado-based apparel company is moving to downtown Charleston. Shirt Off My Back plans to open during the first quarter in a 1,230-square-foot retail space at 47 S. Market St., according to Chip Shealy with commercial real estate agency CBRE Inc.

Sweet treat

WildFlour Pastry at 73 Spring St. in Charleston is planning a new location. The dessert shop plans to open at 1730 Savannah Highway in February in the former Rococo Bakery space.

Now open

A gift and accessories store has opened in Mount Pleasant. Charmed, owned and operated by Jennifer Miller, can be found at 217-E Lucas St. off Coleman Boulevard in The Commons. It’s open Tuesday through Saturday. A grand opening will be scheduled for later.

Sugarbelles Cupcakery and Cafe is open in downtown Summerville. The shop at 103 S. Main St. offers gourmet cupcakes and sweets, plus salads and sandwiches in its deli.

Tasty Fusion, a bar and grill featuring Thai and American fare, has opened at 109 Holiday Drive in Summerville. It’s a sister restaurant to Tasty Thai Sushi in downtown Charleston and Mount Pleasant, Pad Thai in Summerville and Taste of Thai in West Ashley.

More juice

Mount Pleasant-based Blue Barn Juice Co. has leased a 730-square-foot retail space at 1962 Maybank Highway in Charleston, according to commercial real estate firm Avison Young. The juice shop will open during the first quarter.

Do you know of a retail business that is opening, closing or expanding? Reach Warren L. Wise at (843) 937-5524.