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Industrial Report

United States

Report | Charleston Port, Airport and Global Infrastructure Outlook - 2011

Summary

Total container volume at the port has yet to recover from deep losses sustained during the recent global recession and the accompanying drop-off in trade. Container volume was already trending down from 2005 until the beginning of 2009. Now, the trend has turned back upwards, but momentum is likely to meet resistance as the rebound effect wears off. Exports do show some potential thanks to strong and diverse manufacturing in Charleston and the rest of South Carolina.
While Charleston was not immune to the global downturn, occupancy in the market has held up better than many Southeastern rivals, especially Savannah. The Charleston market is well balanced; this is reflected in a declining vacancy rate of only 10.5 percent. The lack of large availabilities and developable land near the port is also reflected in an announced surge in speculative development along the I-26 corridor.

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