Retail market thrives in Columbia

Key Takeaways

  • Residential development continues to enhance the need for Main Street retailers.
  • The Lexington submarket is popular for drawing and retaining retailers.

Market Conditions

Shopping Centers

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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