Industrial Insights V1 2025 FINAL 4.28.25 - Flipbook - Page 8
10-Year Snapshot
THE IMPACT OF NEW CONSTRUCTION IN UNCERTAIN TIMES
Over the past decade, our market has seen an arc of expansion, driven by strong fundamentals
and activity. From 2015 through 2022, the story was one of rising demand, high absorption, and
limited availability—conditions that fueled an unprecedented wave of new construction. Developers,
con昀椀dent in the region’s long-term potential, moved quickly to bring modern product to market.
But beginning in 2023, the pace of deliveries began to outstrip absorption. As demand cooled,
vacancy rates reversed course, climbing steadily and reaching a record highs by the end of 2024.
This snapshot traces the market’s evolution over the last ten years, revealing the buildup, the tipping
point, and the transition that now de昀椀nes Charleston’s industrial landscape.
l
2017–2019
NET DELIVERIES - SF
Charleston’s industrial vacancy was
consistently low (4 – 5%), driven by
strong port activity and regional
population growth. New development
was modest but steady, and demand
outpaced supply.
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