The Greater Charleston Industrial Market continues its robust growth driven primarily by port related happenings and secondarily by a resurgence in manufacturing and defense related businesses. In 2006 we experienced a major wave of commitment on the part of institutional developers lifting Charleston’s status to that of an attractive target investment market.
The Port of Charleston
Agreement has been reached on the location of the access road from Interstate I-26 to the future Naval Base Terminal. Construction is expected to commence on the terminal in 2007 and the facility is expected to be operable in 2011. The Port of Charleston also benefited from the recent “World Trade” magazine which ranked the Port of Charleston first in customer satisfaction. Additionally, the widening of the Panama Canal bodes well for the future of the Port of Charleston as shipping lines continue to seek alternative East Coast ports of entry. Charleston is preparing for the new class of Post Panamax ships by installing larger cranes necessary to service these vessels.
The surge in regional commercial construction led to the extraordinary expansions of the three cement plants outside of Charleston.
Kinder Morgan’s terminal is operating near capacity transporting coal and raw material for these facilities.
The softening of the national residential market has reduced the domestic demand for some types of imported lumber. As a result, some logistics provides (3 PL’s) leasing local distribution warehouses for lumber transshipment are not running at full capacity.
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