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2020 Q3 Industrial Charleston Report

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Shifting production trends increase Charleston industrial demand

Key Takeaways

  • The Charleston industrial market continues to post positive absorption; causing the vacancy rate to decrease to 9.14% this quarter. 
  • There are 823,800 square feet of industrial construction in the Charleston pipeline.
  • Increased port capabilities, consolidated aerospace production, uptick in automotive manufacturing and an increase in e-commerce are shifting production demands to the Charleston industrial market.

Industrial production trends boost activity

There are several factors leading to increased demand within the industrial sector of Charleston. Increased port capabilities, consolidated aerospace production and an uptick in e-commerce are shifting production demands to the Charleston industrial market. Due to the deepening of the Port of Charleston, increased import and export shipping operations are moving to the East Coast, specifically South Carolina. In addition, the construction of the Inland Port of Dillon and record-breaking rail moves at the Inland Port of Greer are facilitating logistics to and from South Carolina. The consolidation of the Boeing 787 Dreamliner production to North Charleston will increase the demand for aerospace-related equipment and parts manufacturers and distributors in the area. Also, the Volvo plant in Ridgeville is planning to add a second car to the production line sometime in 2021; therefore, increasing automobile manufacturing and distribution. Due to the ongoing pandemic, the need for e-commerce has increased exponentially; thus, increasing the demand for industrial space. Online grocery shopping is a expanding sector of e-commerce which, in turn, is increasing the need for cold storage to accommodate the vast amount of online grocery orders. Warehouse space close to major logistic pipelines is predicted to continue attracting interest from both investors and users as e-commerce growth increases. Therefore, due to these factors, the need for industrial space within the Charleston market is expected to rise and the vast amount of planned construction deliveries will likely be leased relatively quickly upon delivery. 

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2020 Q3 Industrial Charleston Report

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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.

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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.

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