Wilson Kibler releases Q4 2021 Columbia Industrial Report
March 22, 2022 | columbia
The overall vacancy rate in the Columbia industrial market holds steady at 4.3% compared to 4.2% in the previous quarter.
Average asking rental rates were also largely unchanged this quarter at $4.33/SF, but many forecasts predict an increase moving forward due to heightened demand and increasing construction costs. The Society of Office and Industrial Realtors (SIOR) recently predicted rents could rise anywhere from 15 to 40 percent in the next 18 months.
Three industrial buildings totaling ±193,940 SF are currently under construction in the Columbia market. The largest project is ±181,440 SF warehouse building in the Lexington County Industrial Park, home to Unum, Husqvarna, and the Home Depot. CED Greentech, one of the nation’s leading solar equipment distributors, leased ±68,040 SF ahead of the building’s expected delivery in first-quarter 2022 and ±113,400 SF remains available.