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2022 Q2 Industrial Charleston Report

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Pent-up demand boosts absorption

Key Takeaways

  • Pent-up demand leads to 3.13 million square feet of absorption
  • Rent will continue to increase due to rising construction costs, interest rates and demand
  • Workforce readiness initiatives are an asset to companies establishing a presence in Charleston

Over the past year, there were approximately 7.2 million square feet of new industrial buildings completed in the Charleston market. Unmet demand has led to unprecedented positive absorption in the most recent quarters. It is an extremely competitive market for tenants as they scramble to pre-lease buildings as soon as construction begins

Charleston’s workforce readiness makes it ideal to establish operations

An added asset to Charleston is the labor pool availability created by the South Carolina Council on Competitiveness. They have programs in place which educate students about career path options within the industry. Their focus is talent development to “optimize existing resources, expertise, and ideas.” With these initiatives in place, students can leave high school ready for the workforce which allows Charleston to be ideal for development and ongoing operations into the future. With labor continuing to be a driving factor in site selection, South Carolina continues to excel.

 

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2022 Q2 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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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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