Charleston Industrial Market Report (Q4 2020)28 Jan 2021
The Charleston industrial market exhibited confidence in its continued stride with the addition of new opportunities. Net absorption is in the red for the first time in 2020 with the recent delivery ofnearly 40,000 square feet (sf). Subsequently, vacancy total has increased by almost 2 million sf since first quarter, leading to an uptick in vacancy rates of 3% from the start of the year. Despite the ongoing detour from normalcy, the market continues its confident expansion, remaining steady since the second quarter of 2020 with 12 properties currently under construction, for 1.9 million-sf.