Charleston industrial real estate market reports
2Q21 highlights and trends
Overall vacancy in Charleston is at a record low, totaling 2.6%, and year-to-date leasing activity increased by 17% compared to the first half of 2020. Increased construction, rebounding activity and absorption in the first half of the year is expected to push 2021 totals to pre-pandemic levels.
Unemployment rate in Charleston. Strong population growth has contributed to a labor force growth rate three times the national average.
South Carolina Ports handled 1.3M TEUs at the Port of Charleston YTD 2021.
Mide-year total leasing activity of 3M sf is up 17% from this time last year.
The overall vacancy rate for the Charleston industrial market continued to show resilience with vacancy at a record low of 5.5%, even with new supply coming online.
Asking rents increased by 3.8% since the start of the pandemic and have continued a steady upward trajectory for a decade.
Charleston experienced a pause in 2020, but activity has picked up again YTD 2021. Industrial volume from 2020 to YTD 2021 totaled $196M.
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