During the last two quarters, vacancy rates have declined.

During the last two quarters, vacancy rates for Class A and Class B office properties in Columbia have declined. So far in 2012, overall Class A vacancy rates have fallen from 12.2 percent to 11.4 percent, while Class B vacancy rates have fallen from 27.3 percent to 27.1 percent. However, as tenants have been taking advantage of the opportunity to upgrade their spaces, the overall vacancy rate has remained unchanged at 22.2 percent, as Class C vacancy rates have increased from 23.7 percent to …

September 28, 2012Market Reports, South Carolina, Southeast Market Reports

Manufacturing leads growth with investments by major companies.

The first half of 2012 has proven fairly stable for the Columbia industrial market. While the first quarter of 2012 experienced trickle over activity from the end of 2011, the second quarter tempered that with marked slowdown. Even though the vacancy rate remained relatively flat at 15.78 percent, average asking rates actually increased 5 cents to $3.53 per square foot. The Columbia industrial market has seen significant investment during the past 12 months, with manufacturing continuing to …

September 14, 2012Market Reports, South Carolina, Southeast Market Reports

Multifamily market shows improvement.

As the economy picks up in Columbia, South Carolina, the area’s multifamily market shows improvement. Columbia’s unemployment rate has declined steadily over the last year to its current rate of 8 percent. The largest employers in Columbia — which is the largest MSA in the state of South Carolina — are the state government, the University of South Carolina, Fort Jackson, Palmetto Health Baptist, and Blue Cross and Blue Shield of South Carolina. Columbia also showed an …

June 29, 2012Market Reports, South Carolina, Southeast Market Reports

Several new devleopments in the pipeline.

Trends in multifamily development and demand mirror both changing mentalities in a post-recession era and dynamic population shifts. There are an estimated 80 million echo boomers (Americans born between 1980 and 1995) that are beginning to move out of their family homes or college dorm rooms and into a very challenging job market. Most rent because they are either unable to buy or they consider owning a home low on the list of their financial goals at this stage in their lives. Even those …

June 1, 2012Market Reports, South Carolina, Southeast Market Reports

Retail activity picks up in Greenville.

The Upstate area of South Carolina finished 2011 with quite a bit of retail activity and good news on the retail front has continued into 2012. Greenville, Spartanburg and Anderson saw positive retail absorption of 233,144 square feet in the fourth quarter of 2011, according to CoStar, and vacancy rates declined to 6.4 percent in the fourth quarter of 2011 from 6.6 percent the previous quarter. The housing market seems to have stabilized and is showing positive trends, which is good news for …

May 4, 2012Market Reports, South Carolina, Southeast Market Reports

Improving fundamentals expected.

The Greenville-Spartanburg office market includes more than 10 million square feet of leasable office space located along Interstate 85 between Charlotte, North Carolina, and Atlanta. The market is expected to enjoy increasing absorption levels with a modest drop in vacancy, which currently stands at just over 16 percent. The biggest news on the construction front is Hughes Development’s ONE building in the Greenville CBD. The property will deliver 370,000 square feet of Class A office …

April 27, 2012Market Reports, South Carolina, Southeast Market Reports

Back on track in Upstate South Carolina.

The industrial warehouse locomotive is back on track in Upstate South Carolina. We experienced tremendous positive absorption in warehouse space in 2011 — around 1.7 million square feet — and vacancy is down to pre-recession levels at 9 percent. Vacancy has been dropping steadily from 10.8 percent since the fourth quarter of 2009, and experienced a dramatic drop in 2011. This recovery is a result of the recent surge of announcements of new and expanding operations by manufacturing …

April 20, 2012Market Reports, South Carolina, Southeast Market Reports

Industrial market desirable for new business and growth.

Industrial properties in the Upstate region of South Carolina continued to perform at a steady if unspectacular rate through 2008, and this trend is expected to continue through 2009. The market will continue to see good activity on the leasing side of the business. This activity, while driven by the confusion of the credit market, has still reflected the desirability of the area as a place for new businesses and the continued growth of key industries. The current expansion of BMW’s …

March 27, 2009Market Reports, South Carolina, Southeast Market Reports

Columbia Retail

Submitted by Ron Anderson, VP of Research and Technology, NAI Avant LLC in Columbia, S.C. Posted 02-22-08. What area is your expertise? Columbia, S.C. What trends do you see presently in retail development in your area? Currently, there are several active types of development: Wal-Mart and Target anchored community centers ranging from 200,000 to 300,000 square feet Unanchored retail strips from 6,000 to 20,000 square feet Auto dealerships relocated from in town to suburban locations …

April 29, 2008Market Reports, South Carolina, Southeast Market Reports

Columbia Retail

What area is your expertise? • Columbia, S.C. What trends do you see presently in retail development in your area? • Currently, there are several active types of development: Wal-Mart and Target anchored community centers ranging from 200,000 to 300,000 square feet Unanchored retail strips from 6,000 to 20,000 square feet Auto dealerships relocated from in town to suburban locations Additional home improvement locations Bank locations Fast food locations …

February 22, 2008Market Reports, South Carolina, Southeast Market Reports