Retail market thrives in Columbia
- Residential development continues to enhance the need for Main Street retailers.
- The Lexington submarket is popular for drawing and retaining retailers.
Overall market vacancy for shopping centers in Columbia was 9.44% during the third quarter. Within core shopping centers, the vacancy rate was unchanged at 5.51% throughout the second and third quarters. Vacancy in non-core shop space; however, dropped only slightly from the second quarter to 12.89%. Overall triple net shop space rents in core shopping centers dropped to $16.57 per square foot.
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