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2022 Q1 Industrial Charleston Report

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Strong demand driving rental rates higher

Key Takeaways

  • New construction continues to be pre-leased
  • Tenants are utilizing temporary outdoor storage space while awaiting construction completion
  • Demand is strong enough to withstand increasing rental rates

Demand for industrial space in Charleston follows the demand trends for industrial space across the United States. Scarce supply and insatiable demand forces the vacancy rate downward quarter-over-quarter. During the first quarter of 2022, the Charleston industrial market has dropped to 2.93%, its lowest vacancy rate in decades. With unprecedented demand and limited supply, Charleston lacks ready-to-occupy industrial space larger than 25,000 square feet. The space that is available has a number of tenants competing for it, creating the urge for tenants to make decisions quickly. 

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2022 Q1 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

As a Brokerage Associate, my expertise is in representing landlords and tenants in the sale, leasing and disposition of industrial and office properties. My role is to understand your commercial real estate needs and, using my expertise in the local market conditions and trends, recommend creative solutions, whether that is effective and efficient space planning for a tenant’s new space or maximizing a property’s lease rate or sales price for ownership.

I’m fascinated with supply chain and have developed strong relationships at the SC Ports Authority and with local industry leaders. I have leveraged my knowledge of how supply chain and industry work to serve my clients. I believe in constant communication and follow-up and am committed to educating my clients to better understand the bigger picture and make smart real estate decisions that benefit you both today and down the road.

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Chloe Heiligenstein

Brokerage Associate

Charleston

As a Brokerage Associate on the industrial team, 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.

The most rewarding part of my job is helping clients find real estate solutions for their business operations and finding the best location for them.

Since our team specializes in industrial properties, we have the opportunity to help our clients solve their challenges in logistics, e-commerce and the supply chain process.

I love the entrepreneurial aspect of commercial real estate as well as the meaningful relationships you can foster long-term.

Clients come to our team because of our market knowledge and specialization in industrial spaces. We think outside of the box and can offer a network to help all parties throughout a transaction. Continuous communication is key to maintaining solid relationships with clients and I always approach each project we work with energy and enthusiasm.

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