October 18, 2017
A few “urban myths” about the local economy have been circulating around the Charleston region lately. With so many recent economic “wins,” it’s hard to stay up to date with the facts as the rumors fly. So, we’re going to dispel a few for you.
Urban legend #5 – Sites and buildings in Charleston have become too expensive.
Fact: The Charleston region offers a wide variety of properties that can meet nearly any cost sensitivity. Recent land sales in regional business parks have ranged from around $6/sf to more than $14/sf. And these are actual sales, not list prices! Our metro offers significant variety in available sites and buildings. From small office space in the urban core to large, greenfield sites that serve I-95 corridor, we have options for almost any real estate need.
Urban legend #6 – There are no buildings left for new projects in the Charleston region.
Fact: The metro area has a growing inventory of available and soon-to-be available office and industrial space. Both local and national developers are investing heavily in new speculative buildings across the region.
Industrial Real Estate (as of Q2 2017)
Office Real Estate (as of Q2 2017)
Source: Colliers International
All three counties in the Charleston metro have new speculative buildings under construction.
Charleston Trade Center
Developer: The Keith Corporation – Alan Lewis
Building size: 307,353SF; expandable to 922,953SF
Contact: Barry Jurs, Berkeley County – Director of Economic Development
XEBEC Patriot Boulevard Industrial Spec
Location: North Charleston
Developer: XEBEC (D/B/A Patriot XSC, LLC)
Building size: 255,800 SF
Contact: Steve Dykes, Charleston County, Director of Economic Development
Winding Woods Speculative Building
Location: St. George
Developer: Dorchester County
Building size: 100,500 SF
Contact: John Truluck, Director of Economic Development, Dorchester County
We hope you’ll help dispel these myths by sharing this info with your colleagues and contacts. There’s a lot of opportunity for business and talent in Charleston | SC | USA. Check out Myths About Charleston’s Economy – Part 1, HERE.
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