Industrial Insights V1 2025 FINAL 4.28.25 - Flipbook - Page 9
2023–PRESENT
2020–2022 (Pandemic Boom)
Industrial exploded nationally.
E-commerce surged, supply chains
scrambled, and Charleston’s strategic
location near the Port and I-26 made it a
logistics magnet. Developers responded
with a wave of speculative construction.
From 2020 to 2022, more than 10 MSF
was absorbed, and vacancy fell to as low
as 3% in some submarkets.
The pipeline outpaced demand. As
pandemic-driven growth leveled off,
global shipping patterns normalized,
and macroeconomic headwinds
(interest rates, in昀氀ation) set in, many of
those new buildings delivered vacant.
Vacancy climbed from 5.4% in Q4 2022
to 17.3% by Q1 2025, the highest level
in over a decade.
VACANCY RATE %
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