190’ truck court with additional space for dolly parking
(33) 9’ x ’10’ dock-high doors with dock seals
(4) 20’ x 20’ drive-in doors
Tilt-up concrete panels
White TPO 60-mil roofing membrane
6” concrete slab
ESFR Sprinkler System
54’ x 52’ spacing | Each bay is ±14,472 SF | 60’ speed bay
Norfolk Southern & CSX Hubs
Travel + Leisure
South Carolina ports broke previously set records during the 2019 fiscal year according to the South Carolina Ports Authority (SCPA). As the deepening of the Charleston Harbor continues, it handled the most cargo in the history of the port. SCPA handled approximately 2.4 million twenty-foot equivalent units (TEUs) in the fiscal year 2019, up 8.8% from 2018. SCPA has doubled its container volume over the past ten years due to the success of advanced manufacturing throughout South Carolina. In addition, by the end of 2021 the SCPA anticipates the completion of three major infrastructure upgrades: opening a new container terminal, deepening of the Charleston Harbor and upgrading Wando Welch Terminal.
Also, the inland ports are also breaking records: Inland Port Greer completed its most productive year ever with 143,204 rail moves, while Inland Port Dillon reported 29,580 rail moves during its first full year in operation. Charleston International Airport (CHS), sees more than 4.2 million passengers per year.
Major interstates run through the Charleston region, allowing short drive-time access to Charlotte, NC, Atlanta, GA, Columbia and Greenville, SC, among others. In addition, the region’s airport, Charleston International Airport (CHS), sees more than 4.2 million passengers per year. The airport offers flights from 8 major airlines with daily non-stop flights to 23 cities in the United States.
Economy & Labor Market
The region’s economy is largely driven by the finance, government, professional and business services and manufacturing. Additionally, Charleston continues to rank among the top cities to visit in the nation, driving a strong tourism industry that contributes to the region’s economy. In addition, the Port of Charleston’s record-setting shipping container volume further boosts the manufacturing employment sector.
According to the Bureau of Economic Analysis (BEA), gross domestic product (GDP) for the MSA totaled $45.50 billion in 2017, accounting for 20.39% of South Carolina’s total GDP. The finance, insurance, real estate, rental and leasing sector consistently contributes to a greater portion of total GDP. In 2017, this sector accounted for 20.81% of total GDP, followed by Government which contributed 15.57%.
Steady Investment Activity
Charleston is supported by a business-friendly environment, state and local tax incentives, efficient logistics, right-to-work status and a talented labor force. This region has successfully recruited investments from various domestic and foreign companies.
Supply chain, logistics and manufacturing are major areas of capital investments in Charleston driven by record-breaking Port of Charleston national and global shipments.
Berkeley County will benefit from A & R Logistics investing $60 million and creating around 60 jobs in the supply chain and logistics employment sector.
Overall, favorable cap rates, low interest rates, population growth and a strong global economy will maintain investor interest and draw new employers to the Charleston area for many years.
COVID-19 alters supply and demand
There was minimal industrial activity in the Charleston market throughout the first quarter of 2020. However, at the end of the first quarter the COVID-19 outbreak began altering the supply/demand chain on a daily basis. While many businesses switched to remote work environments, companies involved in the logistics chain were deemed essential. They continued to operate at an accelerated pace in order to deliver goods where they were needed throughout the nation. In addition, some industrial properties are being used for medical supplies or temporarily repurposed in order to make essential medical equipment when possible. While the industrial sectors of commercial real estate may fare better than others due to continued demand, the true effects of the Coronavirus will not be known for several quarters.
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