Charleston industrial market report
Q2 2024
The Charleston industrial market witnessed another spike in deliveries this quarter, mostly consisting of big-box space. Small-bay space remains in high demand, with a total vacancy rate of 3.4%. South Carolina ports continue to attract manufacturers to the region, positively impacting the manufacturing subtype.
3.4%
High demand for small-bay industrial
Charleston’s small-bay industrial properties show resilience amid rising vacancy rates, but demand has lessened for big boxes.
3.3 msf
Spike in new inventory
In Q2 2024, Charleston received the greatest addition of industrial inventory since Q4 2022. About 1.3 of the 3.3 million square feet (msf) of newly delivered space consists of the largest speculative build in market history.
30.8%
Growth in manufaturing sector
The market’s manufacturing labor pool has expanded by 30.8% over the past seven years, with around 34,600 employees
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