Industrial Expansion Continues

Key Takeaways

  • Warehouse vacancy dropped 23 basis points.
  • The market added 603,000 square feet of space this quarter in 6 buildings.
  • Automotive suppliers are ramping up.

Market Conditions

The Charleston industrial market had strong activity in the second quarter, with rapid expansion of the manufacturing, logistics and warehousing sectors continuing. Despite the addition of 604,000 square feet of space in the second quarter, nearly 58,000 square feet were absorbed. Vacancy increased slightly to 5.53% and rents were steady.

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