Colliers Report: Logistics, capital investments and new jobs boost South Carolina industrial demand
August 3, 2021
Commercial Real Estate Research & Forecast Report
Market Highlights
This quarter record-breaking container movements through the coastal and inland ports caused by e-commerce and manufacturing demand, statewide infrastructure improvements, $832 million in capital investments creating 3,960 new jobs are all driving the South Carolina industrial market demand through the roof.
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Key Takeaways
- The overall vacancy rate is down to 6.25%, and there are 9.6 million square feet of industrial construction underway
- Industrial demand pushed port activity to record levels
- Rental rates will increase to make new construction feasible
Summary
The overall vacancy rate is down to 6.24% this quarter and there are 9 million square feet of industrial construction underway. Despite material delays and rising construction prices, new construction is necessary to keep up with demand.
