Ongoing demand boosts absorption and pre-leasing activity
- 10.4 million square feet will deliver during the second half of 2022, most of which is pre-leased
- Robust demand with declining vacancy rates and positive absorption outweigh economic uncertainty
From the second quarter of 2021 through this quarter there were approximately 14.6 million square feet of new industrial buildings completed in South Carolina. Unmet demand has led to unprecedented positive absorption in recent quarters. It is an extremely competitive market for tenants as they scramble to pre-lease buildings as soon as construction begins.
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