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Columbia Business Monthly

#ColumbiaAgenda: Industrial CRE Update, Pay Raises for Teachers, Catawbas Want to Gamble, Tim Hardee, Upper Middle Class Pinch, Plastic Polo Shirts

Apr 19, 2019 12:34PM ● By Chris Haire

Industrial commercial real estate markets in Columbia kicks off 2019 with a bang: Columbia’s industrial real estate market appears to be taking off, with vacancy rates on the decline in all three industrial sectors: flex, manufacturing, and warehouse/distribution. Rental rates, construction, and net absorption are all on the rise, according to the Q1 industrial forecast report from Colliers International.

With numerous companies joining the area market, business owners are showing confidence in the industrial sector. For example, Best Supply purchased a 37,636-square-foot warehouse in southeast Columbia for $1.34 million, and Vance Works purchased an industrial building in Vance for $475,000.

Rents are up 6.55 percent over Q1 last year, and longer lease terms show that companies expect to stay in the area. Industrial jobs accounted for a quarter of all jobs in the past 12 months, showing companies that the workforce will be able to support new investment.

The Columbia industrial market includes almost 79 million square feet across 1,293 buildings. In the first quarter of 2019, the industrial market absorbed 505,830 square feet, with the southeast area having the highest absorption at 387,506 square feet. There were 11 industrial sale transactions and 12 leases signed in the first quarter.

“High demand, confidence in the market and trade deals closing will result in positive market activities in the coming year,” the report states. “With the desire for longer lease terms and companies moving from the West Coast to the East Coast, the market will likely see increasing rental rates and declining vacancy rates.” --Leigh Savage

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SC cycling mecca Travelers Rest to develop new guide for growth development downtown (Greenville News)

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Upstate SC Alliance Launches Major Campaign To Recruit Job Seekers (Greenville Magazine)

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GM board will become majority female (Automotive News)

Uber’s self-driving car unit just raised another $1 billion (Fast Company)

Uber’s Stock Offering Docs Provide Peek into Freight Business (Trucks.com)

Air Force to Begin Shifting Research Funds to These Kinds of Next-Gen Weapons (Defense One)

Opinion: How Green Politics Could Imperil Aviation (Aviation Week)

IBM to wind down Watson's work in AI drug discovery: report (Fierce Biotech)

Bacteria in healthcare workers' clothes jumps fourfold when worn more than one shift (Becker's Hospital Review)

Scientists Are Using CRISPR to Re-domesticate Fruits and Vegetables (Discover Mag)

McDonald’s Corp. is taking “signature crafted” hamburgers off its menu, after the sandwiches slowed operations at the chain’s restaurants (WSJ)

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Earth, Meet Polo: Ralph Lauren Unveils Plastic Bottle Shirt (Manufacturing.Net)

The Wire

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50 Most Influential
Dr. Tim Hardee
S.C. Technical College System 
President 

Dr. Tim Hardee has over 30 years of experience in education throughout South Carolina. Before taking the helm of the System, he served as president of Central Carolina Technical College. He has also served as a teacher, coach, counselor, and principal at the K-12 level. 

He graduated with a B.S. in Psychology from Coastal Carolina University and earned his M.Ed. in Counselor Education and his Ed.D. in Educational Administration from the University of South Carolina. 

Hardee also has served on numerous boards and councils dedicated to furthering South Carolina through education, workforce development, and economic development. He is a graduate of Leadership South Carolina and the S.C. Economic Developers Program and was presented the Coastal Carolina’s Outstanding Alumni award.
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