Strong demand driving rental rates higher
- 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.
Download the full report
For more information, including the market summary statistics, download the full research report.Download report