The Charleston Port continues to improve in all areas to support the increasing level of TEU throughput, particularly as the market share continues to shift from West Coast to East Coast. Industrial development continues to align with the high port activity. 2023 may be the most critical year in terms of construction. Over 11M SF of new space is being built and over 6M SF proposed. On the leasing side, the average Months-To-Lease for Q1 was 2.9 months, much faster than a year ago which had an average of 4.4 months. The year started strong on the investment side as well in which over $100 Million has traded hands already.
