Charleston industrial market report
Q3 2023
The Charleston industrial market is experiencing increased net absorption, with landlords compensating for rising building costs through concessions. Vacancy remains low especially for big box buildings.
TI allowance
The average weighted TI allowance for industrial leases has increased by 54% from 2022 to 2023 YTD, with several reaching $10.
Big box vacancy
Industrial big-box facilities (500k+ sf) are experiencing high demand, with 1.3% total vacancy.
Net absorption vs. 5-year average
The Charleston industrial market’s Q3 2023 net absorption (YTD) is up 46.2% compared to the five-year average.
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