CBRE Releases Q4 2017 Report
Feb 01, 2018 08:29AM
● By Emily Stevenson
CBRE has released its Q4 2017 MarketView reports on the Columbia office and industrial commercial real estate market.
The consistent expansion of the Columbia office market has extended its positive growth streak to its nineteenth quarter. During Q4, vacancy declined by 60 basis points to 15.5%, its lowest point in almost three years. While growth has been consistent during this period, it has not been uniform, concentrating in the CBD and Saint Andrews submarkets.
These are the highlights of the report:
- Vacancy declined by 60 basis points
- Four years of growth attract investors and raising asking rates
- Stability being provided by education and governmental sectors
- CBD and Saint Andrews are the hottest submarkets
- No new projects in the development pipeline
Industrial & Logistics
With the absorption of 1.5 million sq. ft. in the last four quarters and vacancy hitting a relatively low 7.9%, the Columbia industrial market is exhibiting market fundamentals that could result in an increase in investor and developer interest in the market. Given its prime access to the fast growing ports of both Charleston and Savannah the market is strategically positioned for future growth.
Highlights of the report are as follows:
- Industrial database now includes Newberry, Kershaw and Calhoun counties
- Investor interest is increasing, given strong labor force and opportunity for rent growth
- Manufacturing activity is growing