The Charleston industrial market saw its first year of substantial negative net absorption in 2024, driven by cooling port volumes and a rising supply of sublease space from major 3PL providers. Vacancy rates climbed, with nearly half of the available space concentrated in large-format buildings (400K to 1M SF). Additionally, the average lease size shrank from 40,000 SF in 2023 to 26,000 SF in 2024. This smaller ‘shallow bay’ product remains a bright spot, commanding higher-than-average lease rates due to limited supply, highlighting resilience in select segments of the market.
Find the Right Commercial Real Estate Listing Today
Read the latest news from NAI Charleston including major transactions, new listings, and insights on the commercial real estate market
Read the latest insights from NAI Charleston on the commercial real estate market, including industrial, office and retail reports.
Don’t face Charleston’s commercial real estate market alone. Our local expertise, unparalleled data and technology, and trusted relationships become your strategic advantage.
