Charleston area’s ‘spec’ building boom accelerates, with no end in sight

The Charleston area’s speculative warehouse market, already in the middle of a historic expansion, is about to get bigger and analysts agree there’s still plenty of room for growth.

“Charleston is a new market to many developers, and the returns are strong,” said Bob Barrineau, senior vice president of the commercial real estate firm CBRE Inc’s Charleston office. “It’s a rapidly growing port market with a diversifying base. Hard not to love the industrial opportunity in the market.”

The Silverman Group is the latest to take the plunge, saying this week it will buy two parcels along U.S. Interstate 26 near Jedburg for construction of a 562,544-square-foot warehouse. Those parcels, totaling 203 acres, were developed by WestRock Land and Development and the Rockefeller Group.

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