Skip to main content Skip to footer

2020 Q2 Industrial Charleston Report

Download Report
alt=""

Construction deliveries raise vacancy rate

Key Takeaways

  • At first glance it appears the Charleston submarkets had a negative quarter of activity, when in reality the market was strong enough to retain current tenants while adding new space to the inventory.
  • There are 1.67 million square feet of industrial construction in the Charleston pipeline.
  • The actual effects of the outbreak of COVID-19 on the industrial real estate sectors will not be realized for several quarters.

Near-vacant construction completed this quarter

Despite the second quarter of 2020 occurring amid the Coronavirus and temporary business closings, industrial construction still completed within the Charleston warehouse sector. There were 545,888 square feet of warehouse completions this quarter; however, 486,513 square feet of the warehouse space is vacant. While the Charleston industrial market was able to make it through a much-anticipated slow quarter due to COVID-19, that amount of vacant space added to the Charleston industrial market increased the vacancy rate. At first glance it appears the Charleston submarkets had a negative quarter of activity, when in reality the market was strong enough to retain current tenants while adding new space to the inventory. Since warehouse and manufacturing space demand has remained strong and within the essential workforce pipeline, it is anticipated that the warehouse space delivered this quarter and the construction still in the pipeline will be absorbed quickly upon delivery. 

 

Download pdf

Download the full report

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

Download report

alt=""

2020 Q2 Industrial Charleston Report

Download Report
Related Experts

Mark Erickson

Vice President

Charleston

I provide both tenant and landlord representation for clients in the sale, leasing and disposition of industrial properties across Charleston and the Lowcountry region of South Carolina. Whether I am negotiating critical terms in a lease for a tenant or consulting an owner or landlord in the sale or leasing of their space, my role is to meet my client’s real estate and financial goals, both for today and into the future.

Charleston is a small but powerful and unique market, and I pride myself in connecting people and identifying opportunities that others might miss. My goal is to maximize value for my clients, whatever you value most from your real estate, and to exceed your expectations.

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