Charleston industrial market report

Q2 2022

Vacancy rates and availability in the Charleston industrial market continue to decline as demand grows more rapidly than supply.

94M sf

Inventory

Construction activity continues to grow, with about 7 million sf of development in Q2 2022.

+41%

Net absorption

Net absorption at the end of Q2 2022 has seen a 41% increase from the previous quarter, with total absorption surpassing 3.5 msf.

$7.42

Direct asking rent

Demand for Charleston industrial and flex space continues to increase. This is reflected in the over $1 psf increase in direct asking rents since last quarter.

2.5M sf

Availabilities 

Record low availability is one of the causes of high direct asking rents.

3.1%

Vacancy

Vacancy rates have seen nearly a 9% decrease from last quarter.

$114 psf

Investment sales

At the end of Q2, the sale price psf has increased $16 psf since last quarter. This is the highest price psf in this market in the past 3 years.

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