Sep
01

Charleston Logistics Market Slows During First Half of 2011

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Charleston’s logistics market slowed during the first half of 2011, as the Lowcountry absorbed 134,000 square feet of logistics space, a figure much lower than the 1.6 million square feet absorbed in the last half of 2010.

The commercial real estate firm Grubb & Ellis Co. released the statistics this week in a report on logistics market trends for the first half of 2011.

Construction companies didn’t finish any new buildings, and the logistics vacancy rate fell as well, to 8.4%, with Class “A” vacancy at 5.4%. The logistics market in Charleston comprises 22 million square feet.

Nationally, the logistics vacancy rate has fallen to 11.8% because of low supply and rising demand.

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