Q2 2024 Market Reports
Industrial
Columbia’s slower population growth and a less dynamic economy have kept speculative construction levels lower than in-state rivals such as Charleston and Greenville. Compared to historical levels, however, the Columbia market is amid its third consecutive year of record deliveries as of the second half of 2024.
VIEW FULL INDUSTRIAL REPORT HERE
Office
Despite a relatively muted first quarter of the year, demand for Columbia’s office space has been steady, which has kept the market’s vacancy rate well below national trends. At 7.6%, the market’s vacancy rate is nearly half the national rate of 13.9%, in line with its long-term average of 7.6%.
Retail
Positive absorption trends and little supply-side pressure have kept Columbia’s retail vacancy rate near record lows. The market-wide vacancy rate in Columbia is now at 3.3%. It is expected to remain near record lows in the near term, as little new inventory is on the horizon, and over 500,000 SF of retail obsolescence was removed from the market’s inventory.
