Charleston industrial market report
Q1 2023
Charleston’s industrial market continues to boom, with increasing construction activity and plummeting vacancies. As the local port completes major infrastructure projects, demand for proximity to the coast heightens.
5.4%
Declining cap rates
The industrial sector is experiencing historically low cap rates this quarter, with an average cap rate of 5.4%.
$8.89
Average base rents rise
The average base rent in Q1 2023 was $8.89, which is 7% higher than asking rent.
346k
Building size increases
The projected average building size for deliveries in 2023 is 346k sf.
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