房地产 -2025年第四季度查尔斯顿工业数据 Charleston Industrial Figures Q4 2025

CBRE

FIGURESCHARLESTONINDUSTRIALIQ42025

positiveabsorptiontrendcontinuesdespite

increasingvacancy

129%

overallvacancyRate

500K

sq.ft.NetAbsorption

880K

sq.ft.underconstruction

$8.38

warehouseAskingRate(S/sq,.Ft.NNN)

Note:Arrowsindicatechangefrompreviousquarter.

keyTakeaways

Themarketposted500,222sq.ft.ofpositiveabsorptionforthequarter.classAspaceinthel26andNorthcharleston/Ladsonsubmarketscontributedheavilytothetotal,

combiningfor489,168sq.ft

vacancyedgedupto12.9%,primarilyduetonewdeliveriesthathavenotyetbeen

leased.Recentincreasestovacancycanbeattributedtoconstructioncarryoverearlierin2025andisexpectedtostabilizeasthepipelinehascooledsubstantially.

Averagewarehouseaskingratesexperiencedaslightquarter-over-quarterdecreasebuthavegrowngraduallyyear-over-year.

Leasingactivitytotaled4.2millionsq.ft.fortheyearandwasdrivenprimarilybynew

leases.Averagedealsizeshaveseenasharpdeclineinrecentyears,signalingincreaseddemandforsmallerfootprints.

salesreboundedwith$142.7millionacross12deals,ledbyprivateinvestorsand

highlightedbyNorthpoint's$55.1millionacquisitionofAirportcommercecenterinNorthcharleston/Ladson.

▲$13.12

FlexAskingRate(S/sq.Ft.NNN)

AskingRate

FIGURE1:Historicsupply&Demandsq.ft.(millions)

5.04.O3.0

2.0

Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4

llllll20212022202320242025

warehouseNetAbsorptionwarehouseAskingRate

$9.00

$8.00

$7.00

$6.00

$5.00

$4.00

$3.00

source:CBREResearch,Q42025

FIGURES|CHARLESTONINDUSTRIAL|Q42025

2©2025CBRE,INC.

MarketFundamentals

charleston'sindustrialmarketpostedavacancyrateof12.9%thisquarter,up20-basispoints(bps)fromlastquarterbutunchangedyear-overyear.Theslightincreasecanbeattributedtothe

773,280sq.ft.ofnewlydeliveredspacethathasnotyetbeenleased.whilethemarkethas

experiencedanabundanceofnewlydeliveredprojects,theconstructionpipelineisexpectedto

simmerinthecomingyear,whichshouldgivethemarketthetimeitneedstoleaseupnewproductandstabilizevacancy.

Absorptionremainedpositiveat500,222sq,ft.andwasdrivenlargelybyclassAwarehouse

activityinthel-26andNorthcharleston/Ladsonsubmarkets.Thetwosubmarketsaccountedfor489,168sq.ft.ofgains,supportedbynewleasesbyHuntingtonIngalls(168,480sq.ft.),

certainteed(165,000sq.ft.)andGXOLogistics(156,312sq.ft.).whileabsorptionslowedcomparedtolastquarter,year-ove「-yeargainsweresignificantandreflectedsustainedtenantdemandfor

modernfacilities.

Averagewarehouseaskingratesdecreasedslightlyfromlastquarterto$8.38persq.ft.buthaveincreased7.0%year-over-year,whileflexrateshaveremainedrelativelystableinthesame

timeperiod·

LeasingTrends

Leasingactivityincharlestonclosedtheyearat4.2millionsq.ft.withnewdealsaccountingfor

89.3%ofthetotal.Theaveragenewleasesizewas51,700sq.ft,andwhilethiswasslightlyhigherthan2024,itremainswellbelowthefiveyearpeakof118,489sq.ft.recordedin2023.This

suggeststhattenantsaregenerallyseekingsmallerfootprintsthaninprioryears.

subleaseavailabilityclimbedto2.7millionsq.ft.,up94.7%year-over-year,addingsubstantially

moresecond-generationspaceoptionstothemarket.Meanwhile,ofthe28.7millionsq.ft.deliveredsince2023,41.7%remainsavailable,providingopportunitiesfortenantsprioritizingmodern

facilities.overall,leasingdynamicsreflectashifttowardsmallerdealsizesandincreasedsubleaseinventory,withlocationandbuildingspecificationscontinuingtodrivedecision-making.

FIGURE2:vacancybysubmarket

source:CBREResearch,Q42025

FIGURE3:NotableLeaseTransactions

Type

Tenant

Address

sq.ft.

submarket

NewLease

HuntingtonIngalls

412portcitycentreDrive

168,480

l-26North

NewLease

certainteed

4500LeedsAvenue

165,000

Northcharleston/Ladson

NewLease

GXOLogistics

334portcitycentreDrive

156,312

I-26North

Renewal

FranklinEnergyservices

1701charlestonRegionalparkway

97,500

Eastcooper

NewLease

4GLogistics

3120AshleyphosphateRoad

75,080

Northcharleston/Ladson

source:CBREResearch,Q42025

FIGURES|CHARLESTONINDUSTRIAL|Q42025

3©2025CBRE,INC.

Development&Investment

salesactivityreboundedthisquarter,andthemarketexperiencedatotalof$142.7millionacross12transactions.Thisactivitywaspredominantlydrivenbyprivateinvestorbuyers,andthelargest

saleincludedNorthpointDevelopment's$55.1million($138.41persq.ft.)acquisitionofAirportcommercecenter,aclassAthreebuildingparkbuiltin2017.

onthedevelopmentfront,constructioncommencedononeprojectsinthel26Northsubmarket,a145,463sq.ft.buildingat7651southrailRoadwithinLowcountryLogisticsparkinNorth

charleston/Ladson.

Additionally,twosignificantcompletionsaddedover770,000sq.ft.tothemarket,including

Building3(505,440sq.ft.)andBuilding4(267,840sq.ft.)atBerkeleycommercecenterintheI-26corridor.Thesedeliveriesandnewstartsreflectongoingconfidenceincharleston'slogistics

infrastructure,evenasdevelopersworktomaintainameasuredapproachtogrowthentering2026.

Marketoutlook

Theu.s.economyissendingsomemixedsignals:someindicatorsofbusinessactivity,suchas

capitalgoodsorders,areimproving,andstrengtheningcreditmarketsarehelpingtousherreal

estateintoanewcycle.Datasuggeststhatannualaverageu.s.GDpgrowthwillbesteadyin2026,at2%,butatouchsofterthanin2025.Akeycatalystisasofterlabormarket,ascompaniesare

'slowtohire,slowtofire'atrendthatislikelytolastafewquarters.

Locally,charleston'sunemploymentrateaveraged3.7%thisquarter,outperformingtheu.s.

averageof4.4%.Logisticsandconstructionremaintheprimarydriversofleasinggrowth,

supportedbyportactivityandregionalinfrastructureinvestment.Thesesectorscontinueto

attractoccupiersseekingmodern,efficientfacilities,sustainingsteadydemanddespitebroadereconomiccaution.

withactivetenantrequirementsandameasureddevelopmentpipeline,themarketisexpectedtoimprovestabilityinthenearterm,withincrementalabsorptionconcentratedinclassAspace

acrosslogistics-orientedsubmarkets.

FIGURE4:NotablesalesTransactions

RemountBusinesspark

4800RemountRoad

305,114

$48.1

$157.48

Northcharleston/Ladson

Airportcommercecenter

2650FassittRoad

154,000

$20.9

$136.33

Northcharleston/Ladson

Airportcommercecenter

7246stallRoad

$19.4

$135.16

Northcharleston/Ladson

Airportcommercecenter

7334stallRoad

$14.6

$146.27

Northcharleston/Ladson

1BelknapDrive

1BelknapDrive

$3.8

$156.76

Northcharleston/Ladson

source:CBREResearch,Q42025

FIGURE5:constructionpipelineandvacancy

14.0

12.0

14.0

12.0

4.O

2.0

4.O

2.0

sq.Ft.(millions)vacancy(%)

Q1Q2Q3Q4Q1Q2Q3Q4Q2Q3Q4Q2Q3Q4

lllll2022202320242025

underconstructionDeliveriesvacancysub200,000sq.ft.vacancysource:CBREResearch,Q42025

FIGURES|CHARLESTONINDUSTRIAL|Q42025

4©2025CBRE,INC.

FIGURE6:Marketstatistics

Northcharleston/Ladson

32,373,871830,62633,204,497

9.51.0

9.3

14.41.0

14,1

294,145

-1,888292,257

217,724

-217,724

9.36

9.37

I-26North

36,840,442271,36537,143,207

21.95.9

28.45.9

-337,348

-638,864

HWY52North

6,028,346113,5596,277,105

westAshley

711,741338,6411,050,382

0.42.2

0.42.2

Eastcooper

9,114,883407,2919,522,174

6.2-

10.48.4

-22,680

-23,700

Hanahan

6,613,709195,4606,809,169

5.5-

-152,063

--152,063

9.48

charleston

308,695-308,695

13.64

13.64

source:CBREResearch,Q42025

FIGURES|CHARLESTONINDUSTRIAL|Q42025

submarketMap

CBREoffices

CBREIcharleston

1080MorrisonDrive,suite140

charleston,sc29403

surveycriteria

ThecBRE,Inc.IndustrialFiguresreportprovidesstatisticsbasedonarevisedsetofinventoryconsistingofindustrial

propertiesinthefollowingsubmarkets:charleston,Eastcooper,Hanahan,HWY52North,I26North,North

charleston/LadsonandwestAshley.Allpropertiesareindustrialpropertiesgreaterthan10,000sq.ft.Absor