Skip to main content Skip to footer

2019 Q2 Industrial South Carolina Report

South Carolina absorption on track to double 2018 absorption total

Key Takeaways

  • South Carolina industrial markets have already surpassed the total absorption for last year - this quarter alone, the state absorbed 6.45 million square feet.
  • Rental rates continue in an upward trend and averaged $4.20 per square foot during the second quarter of 2019.

Decentralized distribution hubs drive South Carolina demand

The decentralization of distribution hubs is a direct result of suppliers meeting the delivery demands of consumers within hours to one day of their orders, rather than having one main hub that delivers within a few days. This shift has driven the industrial demand up throughout South Carolina because the entire state has access to logistical suppliers such as the Port of Charleston and the Inland Ports of Dillon and Greer. It follows then that industrial occupiers desire a location within regions with the highest population growth and, according to the most recent U.S. Census data, South Carolina’s population is expected to increase to 5.46 million people by the year 2020.

Rising industrial demand is evidenced through the absorption numbers over the past year and a half. Last year, the South Carolina industrial market absorbed 12.84 million square feet and already this year that number has been surpassed; 13.47 million square feet have been absorbed across the state in the first two quarters. Absorption is expected to continue trending upward throughout the year as demand rises and more manufacturers and distributors locate throughout South Carolina.

Download pdf

Download the full report

For more information, including the market summary statistics, download the full research report.

Download report

Related Experts

Crystal Baker

Research Manager | South Carolina

Columbia

I am responsible for the collection of market data and the interpretation and reporting of key research insights for the state of South Carolina. I produce and distribute approximately 65 market reports per year for various property types including office, industrial, retail, multifamily, hotel, construction and parking. I manage research interns who collect the data for market reports and other projects. I am responsible for coordinating with regional and national researchers to produce branded thought leadership content. I am also involved in on-demand research projects for brokers and their clients as well as research initiatives related to the expansion of Colliers’ corporate services and advisory offerings across South Carolina. I strive to be an asset by providing the highest level of market intelligence. 

My experience in commercial real estate administration gives me a deeper understanding of the terminology and real estate processes, allowing me to provide the highest quality of research services to Colliers’ clients.

View expert

John Montgomery

Managing Director

Spartanburg

I am a Managing Director of Colliers | South Carolina in the Spartanburg office, specializing in industrial buildings, industrial land and tenant representation. 

My experience includes master-planning and developing thousands of acres of real estate as well as attracting significant economic development projects worth billions of dollars and thousands of jobs including Toray Carbon Fibers, Ritrama, Kobelco, Keurig Dr. Pepper, Magna Seating and Techtronics Industries.

View expert

Garrett Scott

Managing Director

Spartanburg

With more than 30 years’ experience in brokerage and industrial development in the Upstate of South Carolina and beyond, I offer expert advice and a unique perspective which gives my clients the edge in a competitive market. 

My experience includes the planning, acquisition and implementation of more than 31 industrial parks in key manufacturing and distribution markets. In addition, I have been responsible for the development of more than 38 million square feet of industrial space including Class A manufacturing, automotive supply, warehouse, logistics fulfillment and e-commerce related facilities. 

More than 140 clients have relied on me to manage the start-up and implementation of their facilities. This background brings invaluable experience and understanding which allows me to meet the needs of tenants, developers and investors “from dock-door to C-suite”.

View expert

Chuck Salley

Managing Director

Columbia

I have experience in all aspects of industrial brokerage including: leasing, sales, build-to-suit, site acquisition, investment sales and consulting. I have been with Colliers since 1981 and have completed over 1,500 transactions in my career. I am an expert in the industrial market and am proud to have represented many national and international companies with their real estate needs in the greater Columbia market. I have also provided valuable consulting work, site acquisition and leasing services for many national developers including: Magnus Development Partners, Scannell Properties, Collett Industrial, Panatonni Development, Red Rock Development, Kirco and Miller Valentine Group.

I am inspired by the drive of my clients and customers to grow their businesses, create jobs and invest in our community. I enjoy the thrill of taking on the challenge to find real estate solutions for them to help them progress their business goals.  My experience in Columbia gives me a solid platform to deliver solutions that enable these companies to grow.

View expert

Brockton Hall

Vice President

Greenville

Brockton Hall is a Vice President with Colliers International in the Greenville and Spartanburg offices. He is a member of the Upstate industrial team along with long-time real estate professionals, Garrett Scott and John Montgomery. This team specializes in the needs of industrial landlords and occupiers throughout the Southeast. 

Hall comes from a commercial construction background with years of experience in the commercial sector working on projects including K-12, office and institutional. He also has significant renovation and retrofitting experience. His construction background allows him to assist occupiers with their building specifications and advise them during the build-to-suit and new construction process. For developers and investors, he is well-equipped to advise on construction-related issues involved in tenant upfits, value-add projects and new development.

View expert

Dave Mathews

Vice President

Columbia

As part of the Colliers platform of services, I serve both tenants and landlords with their respective industrial  needs. I assist tenants with comprehensive site selection, acquisitions and dispositions and lease negotiations. In addition, I offer similar services to institutional landlords, which include strategic planning, detailed reporting and market analysis, marketing and lease/sale negotiations. I work with an integral team and find that our teamwork is one of our biggest advantages in completing deals for our clients that exceed their expectations.

Working in industrial brokerage, I have the opportunity to see the vast progress of companies and help to play a part in a client’s business development. I find that, for me, success is finding the best possible outcome for a client within their constraints and knowing that I have brought significant value to their growth.

View expert

Thomas Beard

Vice President

Columbia

I specialize in leasing, user sales and investment sales of industrial properties.

Since a young age, I have had a profound interest in and exposure to commercial real estate. I have long found industrial brokerage to be intriguing because it serves as the foundation of many different types of businesses and processes. It is very rewarding to have the opportunity to play a role in the goals and progress of each of our clients as a trusted industrial services advisor.

View expert

Richard Barrett

Senior Brokerage Associate

Greenville

I specialize in flex office and industrial brokerage at Colliers International’s Greenville, SC office. I have many years of experience in the industrial business world and understand the demands that businesses experience regarding real estate. I strive to make the process as smooth as I can for my clients and offer them empathy and knowledge for getting the best space for their needs. I am inspired and motivated by the beauty of business growth. Seeing a company start from a small garage startup and grow into a powerful industry leader is exciting, and I am proud to be able to play a part in helping clients get started in a building of their own.

View expert

Matthew Erickson

First Vice President

Los Angeles - Commerce

Matt Erickson joined Colliers International in March 2010 as an associate.  He specializes in the sale and leasing of industrial properties in the Central Los Angeles sub market.

 

Matt’s strengths are in building solid client relationships, with a focus on their real estate needs as an integrated component of their overall business goals.  Matt’s in depth understanding of the local market helps bring value to his clients by introducing them to all potential opportunities.  On a day-to-day basis he services listings, manages the marketing process, and focuses on meeting the goals and objectives of his clients. 

View expert

Matt Pickard

Senior Brokerage Associate

Charleston

I focus on site development as well as both landlord and tenant representation for industrial properties throughout the Charleston, SC region and throughout South Carolina. I have established myself in the market by forming key relationships in various industry sectors and learning the market drivers that impact end users. 

I work with clients to coach them on site development by providing creative solutions to overcome issues such as zoning, wetlands, access and utilities.  I have also worked closely with the South Carolina Ports Authority to better understand the full supply chain lifecycle to better serve our clients in their search for industrial space.

View expert