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2013 Charleston Commercial Market Forecast: Office and Industrial Update
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www.CharlestonCommercialMarketForecast.co m Office & Industrial Markets Analysis and Outlook 2013 Presented By: Bob Caldwell
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The office and industrial market update given at the 2013 Charleston-area commercial market forecast, on October 24, 2013 at the Daniel Island Club. The presentation was given by Bob Caldwell, SIOR, President of Caldwell Commercial.
Transcript of 2013 Charleston Commercial Market Forecast: Office and Industrial Update
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
