Charleston Industrial Figures Q1 2023

May 9, 2023 10 Minute Read

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With 2.86-million sq. ft. absorbed in Q1, Charleston’s industrial market continues to post strong positive absorption quarter-over-quarter.
Charleston’s overall vacancy rate of 1.26% follows the national trend of buildings delivering rapidly to meet demand.
Despite national hesitancy surrounding capital markets and lending constraints, Charleston industrial sale transactions increased this quarter. Investors continue to show interest in this market due to strong market drivers, increasing population, and diverse industries continuing to locate here.
The South Carolina State Ports Authority continues to grow its costumer base, bolstering its position as a leading East Coast Port.
Manufacturing expansion continues throughout the Carolinas. (Redwood Materials, EV automotive & battery plants, life sciences, Scout Motors.