Dynamic market activity accelerates buyer interest
- 2019 is off to a bang, with positive absorption and decreasing vacancy rates in all three Columbia industrial sectors.
- Weighted rental rates decreased during this quarter, due to high-quality space absorption; the few remaining spaces are of lesser quality with lower rental rates.
- Companies continue to show interest and gain confidence regarding the stability of the Columbia industrial market.
Market confidence and comfort increases
Columbia’s industrial market activity is robust and the list of new companies coming to the market is growing. Confidence and comfort increased, from business owners’ perspectives, due to the potential of trade deals closing. This confidence was displayed in several ways, one being an increase in occupier purchases like Best Supply, Inc. purchasing a warehouse in southeast Columbia. Another indicator is the amount of companies moving from the West Coast to the East Coast, particularly in the manufacturing sector. Longer lease terms throughout Columbia also suggest that companies are more comfortable in the Columbia market. In addition, foreign companies expressed intensified interest in future Columbia relocations. Strong employment is also an added comfort factor for companies looking to invest in the Columbia industrial market. Industrial jobs accounted for a quarter of all jobs added during the past 12 months, assuring companies that the market can support new ventures and sustain positive market activity.
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