2Q17 Charleston MSA Industrial Market Snapshot
With the growth of our region’s largest manufacturing businesses, including Boeing and Mercedes Benz, coupled with Volvo’s 2+ million square foot plant under construction, we have become a destination for global investors seeking to capitalize on the robust job growth that separates Charleston from the rest of the country. We have a healthy supply of speculative warehouse space under construction, and we anticipate demand to increase further once Volvo is open for business in 2018.
Five industrial buildings totaling ±459,289 SF were delivered to the market during 2Q17; most notably, Building V of 4269 Crosspoint Drive, which amounts to ±273,000 SF.
Large projects that remain under construction include the ±2.3 MSF Volvo North American Manufacturing facility in Ridgeville, and the ±1.0 MSF Mercedes Benz Sprinter plant in Ladson.
Flex space rates have been on a steep incline, and can be attributed to the demand for space by service-oriented tenants in industries ranging from residential construction sub-contractors to government and manufacturing suppliers.
For more information, contact Dexter Rumsey at +1 (843) 518 5315 or firstname.lastname@example.org.