May
03

Charleston Industrial Market Strengthening

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Industrial rental space is hard to come by and rates are going up across the Charleston metro, according to lease figures from the first quarter of 2013. The flurry of activity could lead to a building boom over the next year.

Excitement over Boeing South Carolina’s rapid growth at its North Charleston facility is partly responsible, but overall improving economic conditions at the port and in manufacturing are mostly driving the trend, according to the report released by brokerage firm Colliers International.

“Charleston’s industrial market accelerated in the first quarter with increased tenant activity,” the report reads. “As tenants and owner-occupiers positioned themselves for future growth, many companies secured longer term leases, contemplated the purchase of their current facility and consolidated facilities to improve efficiency.”

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