1Q25: Charleston MSA Industrial Snapshot

Charleston’s industrial market faced headwinds in Q1 2025, with vacancy rising to 15.9% and net absorption over the past 12 months declining by approximately 1.53 million square feet. Despite the softness, average asking rates held steady at $10.55 per square foot, reflecting underlying market confidence. With nearly 2.4 million square feet under construction and a total inventory nearly 116 million square feet, the market remains active, though current availability (approximately 20.5 million square feet) suggests a continued tenant-favorable environment in the near term.– Dexter Rumsey