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2019 Q2 Industrial Columbia Report

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Absorption predicted to surpass previous years

Key Takeaways

  • 1.20 million square feet is currently under construction and expected to deliver within the next two quarters.
  • Absorption reached 757,094 square feet during the second quarter of 2019 and the overall market vacancy rate dropped to 5.82%.

Absorption has increased exponentially

Absorption within the Columbia industrial market has fluctuated over the last several years, however, overall demand has grown exponentially in the last two years. Annual absorption during 2015 was 919,796 square feet and during 2016 the market actually posted a net negative absorption of 401,718 square feet. Conversely, the 2017 annual absorption total was 2.57 million square feet and last year it was 1.52 million square feet. During the first two quarters of 2019, absorption reached 1.22 million square feet and is predicted to be positive through year-end due to an increase in industrial demand caused by intensifying industrial activity throughout South Carolina. With 1.2 million square feet currently under construction, and 76% of it already pre-leased; the robust Columbia industrial market activity shows no signs of slowing.

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2019 Q2 Industrial Columbia Report

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Crystal Baker

Research Manager | South Carolina

Columbia

I am responsible for the collection of market data and the interpretation and reporting of key research insights for the state of South Carolina. I produce and distribute approximately 65 market reports per year for various property types including office, industrial, retail, multifamily, hotel, construction and parking. I manage research interns who collect the data for market reports and other projects. I am responsible for coordinating with regional and national researchers to produce branded thought leadership content. I am also involved in on-demand research projects for brokers and their clients as well as research initiatives related to the expansion of Colliers’ corporate services and advisory offerings across South Carolina. I strive to be an asset by providing the highest level of market intelligence. 

My experience in commercial real estate administration gives me a deeper understanding of the terminology and real estate processes, allowing me to provide the highest quality of research services to Colliers’ clients.

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