Charleston industrial market report
Vacancy rates and availability in the Charleston industrial market continue to decline as demand grows more rapidly than supply.
Construction activity continues to grow, with about 7 million sf of development in Q2 2022.
Net absorption at the end of Q2 2022 has seen a 41% increase from the previous quarter, with total absorption surpassing 3.5 msf.
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.
Record low availability is one of the causes of high direct asking rents.
Vacancy rates have seen nearly a 9% decrease from last quarter.
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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