Columbia’s industrial market remains challenged by a shortage of high-quality space, while manufacturing investment has held steady as the market’s driving force while 3PL activity softens. On average, available space within the market was built in 1982, while six of the market’s seven vacancies of 150,000 square feet or more date to the 1960s. These functionally challenged spaces largely don’t meet the clear height or power requirements of modern manufacturing or distribution users, creating a soft barrier to stronger absorption.
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Key Takeaways
The average vacant space in the market was built in 1982, reflecting an excess of functionally-challenging inventory in an era where heavy power and high clear heights drive tenant requirements.
Vacancy continues to tick upwards despite manufacturing-driven positive absorption as older spaces shed occupancy, driving home a pressing need for new speculative construction.
Class A availability remains severely restricted, with the market unable to cover immediate-occupancy requirements for modern bulk space.
Strong workforce availability was highlighted by a reported 17,000+ applications for Scout Motors’ first tranche of production jobs. Skilled labor continues to attract manufacturing investment, including Ferrara’s $675M announcement in Orangeburg County.
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