Unparalleled demand despite increasing rental rates
- 9.8 million square feet will deliver in 2022, most of which is pre-leased
- Tenants are urged to renew their leases one year or more in advance of their lease expirations
- Rental rates are increasing with rising construction prices and strong demand
Construction prices are rising nationwide, which is in turn pushing rental rates upward. However, South Carolina rental rates are lower than comparable markets. South Carolina has 21.5 million square feet of buildings under construction and another 25 million square feet of proposed developments. There are 9.8 million square feet of industrial buildings slated to deliver in 2022.
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