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2020 Q2 Industrial Columbia Report

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Columbia industrial market outperforms expectations amid pandemic

Key Takeaways

  • The Columbia industrial market outperformed expectations with a total absorption of 479,072 square feet during the second quarter of 2020. 
  • Due to positive absorption, the quarterly vacancy rate dropped from 4.86% during the first quarter of 2020 to 4.47% this quarter.
  • The actual effects of the outbreak of COVID-19 on the industrial real estate sector will not be realized for several quarters.

Columbia industrial weathers the storm

Industrial activity throughout the nation was expected to perform better than other sectors due to essential employee services, e-commerce shopping and distribution centers remaining open while other businesses were forced to close at the onset of COVID-19. However, the Columbia industrial market outperformed expectations with a total absorption of 479,072 square feet. The activity was mainly concentrated within manufacturing and warehousing facilities. Manufacturing absorbed 352,700 square feet and the warehouse sector absorbed 113,960 square feet. Due to the positive activity, the overall market vacancy rate decreased to 4.47%. Also, construction activity continued and a 200,720-square-foot industrial building located at 145 Millennium Drive finished construction this quarter and 245,000 square feet are currently under construction. There are still many transactions expected to complete in the next few quarters despite the uncertainty surrounding COVID-19; therefore, Columbia industrial activity is anticipated to be strong enough to continue to weather the storm.  

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2020 Q2 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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