Industrial Market Insights for Asheville, Western North Carolina, the Carolinas & Beyond

Looking for a clear read on the industrial market in 2026?
This report breaks down the key trends shaping industrial real estate at the local, regional, and national level — helping owners, investors, developers, and occupiers better understand where the market stands and where opportunities may be emerging.

🔍 What’s Inside the Report?

The Spring 2026 Davis Industrial Report covers:

• Asheville & Western North Carolina industrial trends

• Key takeaways from the Carolinas’ strongest markets

• A national industrial market snapshot

• Vacancy, rents, supply pipeline, absorption, and pricing

• Major themes to watch for investors, developers, and owners

📍 Asheville & WNC: Tight, Selective, and Still Resilient

Western North Carolina remains an interesting industrial story.

Asheville continues to operate as a relatively tight secondary market, with approximately:

• 36.9 million SF of inventory

• 4.0% vacancy

• 5.8% availability

• $10.34/SF average asking rents

The market is no longer being driven by scarcity alone. New construction has increased, absorption has softened, and performance is becoming more asset-specific. Still, this is not a bearish market — it’s a more selective one.

Key local themes include:

• Henderson County emerging as the region’s growth engine 🚛

• Asheville infill product continuing to benefit from supply constraints

• Stronger pricing for functional smaller-bay industrial properties

• Recovery-related public investment helping support broader commercial activity

Bottom line:
WNC industrial remains balanced, with solid long-term fundamentals and continued demand for well-located, functional product.

🌎 The Carolinas: Still a Regional Leader

The Carolinas continue to be one of the most compelling industrial regions in the country — but in 2026, not every market is moving in the same direction.

Markets showing some of the strongest momentum:

• Charlotte

• Greenville-Spartanburg

These areas are seeing solid absorption, better tightening trends, and more encouraging supply-demand balance.

Also covered in the report:

• Charleston: improving as excess supply works through the system

• Raleigh-Durham: strong long-term outlook, though currently more tenant-friendly due to a larger pipeline

The takeaway:
The Carolinas still deserve serious attention, but the market is rewarding the right product in the right location, not broad exposure alone.

U.S. Industrial Market: Moving Toward Stabilization

Nationally, industrial real estate has shifted from broad rebalancing into early stabilization.

While vacancy remains above the ultra-tight levels seen in recent years, the market is showing signs of improving health:

• Leasing activity is improving

• Supply pressures are easing

• Market softening has slowed

• Capital markets are becoming more constructive

One of the biggest national themes is the widening divide between:

✅ Modern, functional industrial product
and
⚠️ Older commodity inventory

That distinction is becoming increasingly important for both leasing performance and investment underwriting.