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2019 Q4 Industrial Columbia Report

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Columbia warehouse space in high demand

Key Takeaways

  • Trade negotiations between U.S. and China will likely benefit Columbia through increasing imports and exports; therefore,  raising demand from out-of-market users seeking a location in Columbia due to its central location and accessibility to logistics.
  • Over the past year the Columbia industrial market has absorbed 3.30 million square feet and the vacancy rate decreased 311 basis points to 4.52% at year end.
  • There were five industrial buildings delivered during 2019 adding 1.02 million square feet to the Columbia industrial market.
  • Columbia warehouse space is being absorbed as soon as it is delivered to the market; the Orangeburg County submarket warehouse sector alone absorbed 417,817 square feet during the fourth quarter of 2019. 

2019 Industrial Recap

The Columbia industrial market had a phenomenal year absorbing 3.30 million square feet. There were five building delivered to the market during 2019, four of them were delivered to the Southeast Columbia submarket: China Jushi located at 1460 Pineview Drive is a new 660,135-square-foot manufacturing facility, 105 Sparkman Drive is the site of a new 70,000-square-foot flex/R&D building, 126 Atlas Court is a new 46,000-square-foot warehouse and Shop Grove Commerce Park located at 101 Sparkman Drive is the site of a new 45,000-square-foot warehouse. There was also one 200,000-square-foot warehouse delivered to the Cayce/West Columbia submarket at Midway IV. The Columbia overall market vacancy rate decreased from 7.79% during the fourth quarter of 2018 to 4.52% during the fourth quarter of 2019. The average market weighted rental rate has increased from $3.78 per square foot at the end of 2018 to $4.03 per square foot at year end 2019. 

 

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2019 Q4 Industrial Columbia Report

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Related Experts

Chuck Salley

Managing Director

Columbia

I have experience in all aspects of industrial brokerage including: leasing, sales, build-to-suit, site acquisition, investment sales and consulting. I have been with Colliers since 1981 and have completed over 1,500 transactions in my career. I am an expert in the industrial market and am proud to have represented many national and international companies with their real estate needs in the greater Columbia market. I have also provided valuable consulting work, site acquisition and leasing services for many national developers including: Magnus Development Partners, Scannell Properties, Collett Industrial, Panatonni Development, Red Rock Development, Kirco and Miller Valentine Group.

I am inspired by the drive of my clients and customers to grow their businesses, create jobs and invest in our community. I enjoy the thrill of taking on the challenge to find real estate solutions for them to help them progress their business goals.  My experience in Columbia gives me a solid platform to deliver solutions that enable these companies to grow.

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Dave Mathews

Vice President

Columbia

As part of the Colliers platform of services, I serve both tenants and landlords with their respective industrial  needs. I assist tenants with comprehensive site selection, acquisitions and dispositions and lease negotiations. In addition, I offer similar services to institutional landlords, which include strategic planning, detailed reporting and market analysis, marketing and lease/sale negotiations. I work with an integral team and find that our teamwork is one of our biggest advantages in completing deals for our clients that exceed their expectations.

Working in industrial brokerage, I have the opportunity to see the vast progress of companies and help to play a part in a client’s business development. I find that, for me, success is finding the best possible outcome for a client within their constraints and knowing that I have brought significant value to their growth.

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Thomas Beard

Vice President

Columbia

I specialize in leasing, user sales and investment sales of industrial properties.

Since a young age, I have had a profound interest in and exposure to commercial real estate. I have long found industrial brokerage to be intriguing because it serves as the foundation of many different types of businesses and processes. It is very rewarding to have the opportunity to play a role in the goals and progress of each of our clients as a trusted industrial services advisor.

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John Peebles

Senior Brokerage Associate

Columbia

I am a Senior Brokerage Associate in our Columbia office working with the industrial brokerage team of Chuck Salley, SIOR, Dave Mathews, SIOR and Thomas Beard, SIOR. I focus on and specialize in leasing, sales, build-to-suit projects, site acquisition and investment sales for investors, developers and tenants looking in central South Carolina. 

Industrial brokerage offers a runway for creative thinking and problem solving for clients’ and customers’ needs. At the conclusion of a deal, we have not only assisted our clients in achieving their goals, but also assisted companies in maximizing their productivity and profitability in the same breath. In doing so, we get to play a role in growing businesses in our community and stimulating the local and regional economy. This is a reward that few other careers can offer.

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