Q1 2024 Market Reports
Industrial
Columbia’s steady economy and normally low level of speculative construction support a typically tight market. Pent-up demand, driven by the fast-paced growth of e-commerce and post-pandemic demographic trends, along with its relatively slow pace in terms of construction activity, has kept industrial availability below historical norms. However, a wave of supply beginning in the third quarter of last year has begun putting upward pressure on market-wide vacancy, which now sits at 5.1%. But vacancy here remains below the national average of 6.2% and is likely to remain for much of this year.
VIEW FULL INDUSTRIAL REPORT HERE
Office
The Columbia market saw two consecutive quarters of solid demand for its office space to close out in 2023, which was a dramatically different outcome from the first half of the year when demand was largely negative.
Retail
Steady absorption trends and very little supply-side pressure have kept Columbia’s retail vacancy rate the tightest on record. The market-wide vacancy rate in Columbia is now at 3.2% and is expected to remain near historic lows in the near term, as little new inventory is on the horizon.
