2013 charleston commercial market forecast: office and industrial update
Post on 12-Nov-2014
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www.CharlestonCommercialMarketForecast.com
Office & Industrial MarketsAnalysis and Outlook 2013
Presented By:Bob Caldwell
Primary Sub-Markets & Inventory
OFFICE:
N. Charleston(4,882,316 SF)
Peninsula(2,132,469 SF)
West Ashley(1,078,580 SF)
Mt. Pleasant(1,678,007 SF)
Total = 11,496,278 SF
INDUSTRIAL:
N. Charleston(11,678,020 SF)
Hanahan/N. Rhett(3,775,340 SF)
Wando/Cainhoy(4,324,844 SF)
Peninsula(2,856,986 SF)
Total = 32,758,481 SF
Historical & Current VacanciesOffice:
Industrial:
2007 2008 2009 2010 2011 2012 2Q20130
2
4
6
8
10
12
14
FLEX WAREHOUSE TOTAL MARKET
Vaca
ncy
Rate
(%)
2007 2008 2009 2010 2011 2012 3Q20130
2
4
6
8
10
12
14
16
18
20
CLASS A CLASS B CLASS C TOTAL MARKET
Vaca
ncy
Rate
(%)
Charleston v. National VacanciesOffice Market:
Industrial Market:
Market Drivers
Case Study:Aviation Business Park
• Location: North Charleston between Airport & I-26• Total Office/Flex Space = 350,000 SF• 95% to 98% Occupancy Since Completion (2008)
On the Horizon…
Courier Square
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