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2021 Q2 Industrial Columbia Report

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Columbia industrial vacancy at an all-time low

Key Takeaways

  • 20% of all available space was absorbed during the second quarter of 2021
  • Scarce availability is requiring users to make decisions further in advance
  • Increasing construction costs impact new development

The overall industrial vacancy rate is at an all-time low of 3.97% in the Columbia industrial market. During the second quarter of 2021, 20% of all available space was absorbed. The recently completed Midway Logistics VI building in the Lexington County Industrial Park is home to the only existing Class A space currently available in the market. That leaves tenants with limited product to choose from when attempting to lease new space, relocate or to even expand. While many developers are interested in building new industrial buildings within the region, the spike in construction prices is complicating their efforts to do so. For new construction to be feasible, lease rates are expected to increase for developers to meet their required returns. 

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2021 Q2 Industrial Columbia Report

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Related Experts

Chuck Salley

Vice President and Director of Industrial Brokerage Team

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 a thousand transactions in my career.  I am an expert in the industrial market and am proud to have represented many national and multi-national companies with their real estate needs in the Columbia market including: Knauf Insulation, United Technologies, Lennox Industries, Howden Buffalo, ESAB, Sony, RNDC, Interstate Reasources, and Mainline Express.  I have also provided valuable consulting work, site acquisition and leasing services for many national developers including: Panatonni Development, Red Rock Developments, 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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Thomas Beard

Senior Brokerage Associate

Columbia

As a Senior Brokerage Associate with Colliers International | South Carolina and a member of the industrial team for central South Carolina, I specialize in leasing, user sales and investment sales of industrial properties.

Since a young age, I have had a profound interest in 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 commercial real estate professional.

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Dave Mathews

Vice President

Columbia

I am a Vice President with Colliers International | South Carolina, specializing in industrial real estate in South Carolina. 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 a collaborative team consisting of senior level associates and find that our teamwork is one of our biggest advantages in completing deals that exceed our client’s expectations.

Working in industrial brokerage, I have the opportunity to see the vast progress of companies and help to play a part in our 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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John Peebles

Brokerage Associate

Columbia

I am a Brokerage Associate in our Columbia office working with the industrial brokerage team of Chuck Salley, SIOR, Dave Mathews, SIOR and Thomas Beard. Our team focuses on landlord representation and site selection for tenants looking in central South Carolina. 

I have thoroughly enjoyed the challenging and rewarding nature of industrial brokerage. Our team has the privilege to work with clients and prospects on both sides of a transaction and find solutions to best suit their needs. 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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