Greystar and PGIM Complete 145,463-SF Lowcountry Logistics Building I, Break Ground on Two More in North Charleston

NORTH CHARLESTON, S.C. — Sept. 8, 2026 — Greystar and PGIM have completed construction on the first building of the Lowcountry Logistics Center in North Charleston, South Carolina, and simultaneously launched construction on two additional industrial buildings on a separate parcel within the same market, the firms announced Monday.

Building I, a 145,463-square-foot rear-load facility at 7651 Southrail Road, features a 32-foot clear height, 34 dock doors, and two drive-in doors. Suites are divisible to approximately 16,000 square feet, positioning the building for multi-tenant occupancy across distribution, warehousing, and manufacturing users. Leasing is being led by Peter Fennelly, Simons Johnson, and Will Crowell of Bridge Commercial.

"It's exciting to see this project reach completion. Lowcountry Logistics I checks all the boxes for today's industrial users," said Will Crowell of Bridge Commercial. "We've watched this building come together from the ground up, and we're looking forward to introducing it to the market and helping companies find a space that supports their next stage of growth."

Buildings II and III Underway on Patriot Boulevard

Construction is now underway on Lowcountry Logistics Buildings II and III at 8276 and 8250 Patriot Boulevard in North Charleston. The two rear-load buildings combine for more than 180,000 square feet, with building depths ranging from 160 to 210 feet and 32-foot clear heights. Like Building I, suites in both structures are divisible to approximately 16,000 square feet. Hagood S. Morrison, John Beam, Brooks Courtney, and Graham Weisel of Bridge Commercial are handling leasing for the two buildings.

Across all three buildings, the campus is designed to serve a range of industrial users, with configurations suited to local and regional distribution, light manufacturing, and logistics operations.

"We are excited to expand our logistics footprint in our own backyard," said Lex Wille, Senior Associate for Development at Greystar. "With the completion of Building I and construction start of Buildings II and III, these three projects reflect our continued commitment to delivering high-quality industrial space in strategic infill locations."

Location and Infrastructure Advantages

All three buildings sit in what the firms describe as one of Charleston's premier industrial corridors. The Southrail Road and Patriot Boulevard addresses offer direct access to Interstate 26, the primary freight spine connecting the Port of Charleston to inland markets, and are minutes from Palmetto Commerce Park, the Port of Charleston terminals, Boeing, and Volvo Cars. The proximity to port infrastructure makes the campus relevant for drayage-dependent tenants and advanced manufacturing users tied to regional and global supply chains.

Greystar, which is headquartered in Charleston, manages and operates more than $300 billion of real estate across 265 markets globally and holds more than $79 billion in assets under management. PGIM, the global asset management business of Prudential Financial, Inc., manages $1.5 trillion in assets under management across public and private asset classes, including a dedicated real estate investment group.

"Charleston continues to benefit from strong logistics fundamentals, including access to major transportation infrastructure, a growing labor force and proximity to the Port of Charleston," said Soultana Reigle, head of U.S. Equity for PGIM's real estate investment group. "Lowcountry Logistics reflects the type of well-located industrial investment opportunity we continue to target with experienced partners in markets supported by long-term demand drivers."

Market Context: Charleston Industrial Rebalancing

The Lowcountry Logistics deliveries arrive as Charleston's industrial market works through a supply-driven soft patch that began in 2023. A wave of speculative deliveries pushed overall vacancy to roughly 14% to 15% across multiple tracking periods, with availability reaching as high as 18% by late 2025. Asking rents across the broader market have ranged from approximately $8.05 to $11.00 per square foot depending on product type and submarket.

More recent data points to an inflection. The share of vacant space actively being marketed fell to its lowest level since mid-2024 in the first quarter of 2026, and asking rents posted their first meaningful quarterly increase in three quarters during the same period, as lower-priced available space was absorbed and the pricing average moved higher. More than 2.2 million square feet remained under construction in the market as of mid-2026, reflecting continued developer confidence in long-term port-driven demand even as the market digests existing supply.

Against that backdrop, modern infill product with institutional specifications — 32-foot clear heights, high dock counts, and divisible floor plates — is increasingly differentiated from older or more peripheral inventory. The Lowcountry Logistics campus, with its port-adjacent location and those specs, is positioned to compete for tenants seeking proximity to the Port of Charleston without the footprint requirements of large-bay bulk facilities.

About the Firms

Greystar is a fully integrated global real estate platform offering property management, investment management, development, and construction services, with a primary focus on institutional-quality rental housing. The firm was founded in Charleston in 1993 and operates more than one million units and beds globally.

Bridge Commercial is a Charleston-based commercial real estate brokerage with regional coverage across the Southeast.

PGIM operates across 40 offices in 20 countries and serves retail and institutional clients through strategies spanning fixed income, equities, real estate, and alternatives.

Sources

Greystar Newsroom — Greystar and PGIM Advance on Lowcountry Logistics