August 02, 2017 - 2Q17 Charleston Industrial Market Overview

Press Release



 



2Q17 CHARLESTON INDUSTRIAL MARKET OVERVIEW



CHARLESTON, SC (August 2, 2017) Five industrial buildings totaling ±459,289 SF were delivered to the market; 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.



“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,” said Dexter Rumsey, senior broker at NAI Avant. “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.”



For more information, contact Dexter Rumsey at +1 (843) 452 9417 or drumsey@naiavant.com.



 



About NAI Avant



NAI Avant's commercial real estate business is one of the largest in the Southeast.  With over 65 professionals, the firm provides comprehensive brokerage, leasing, development, property and project management services.  For nearly three consecutive decades, the group has had more of its brokerage professionals recognized as top producers or recipients of the top awards than any other firm in South Carolina. As a member of the NAI Global Network, NAI Avant is affiliated with more than 400 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 7,000 local market professionals, managing over 425 million square feet of property. NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms and is a wholly owned subsidiary of C-III Capital partners.  NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. NAI Avant’s Property and Project Management Group currently manages a multi-million square foot portfolio of properties across South Carolina, North Carolina, and Georgia. Through its Avant Healthcare Division, the firm provides comprehensive services to hospitals, clinics, and physician groups. NAI Avant, founded in 1966, is headquartered in Columbia, SC with an office in Charleston, SC. Find out more about NAI Avant and its services at www.naiavant.com. Be sure to follow us on Twitter @NAIAvant and like us on Facebook.



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Contact: David Grubbs, Managing Principal, Charleston Office, 843-720-4944, or dgrubbs@naiavant.com


The following documents have been attached to this article:
      2Q17_Industrial_Snapshot.pdf

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Columbia

807 Gervais Street, Suite 301
Columbia SC 29201
United States

Tel (803) 254 0100

Charleston

145 King Street, Suite 410
Charleston SC 29401
United States

Tel (843) 720 4944


807 Gervais Street, Suite 301, Columbia, SC 29201
145 King Street, Suite 410, Charleston, SC 29401