2020 Q3 Industrial Columbia Report

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Columbia industrial is in a “space race”

Key Takeaways

  • The Columbia industrial market outperformed expectations with a total absorption of 229,640 square feet during the third quarter of 2020. 
  • Over the next year, construction activity is predicted to increase considerably in order to keep up with market demand.

Columbia industrial activity is robust

Columbia’s industrial market vacancy rate is 3.93% overall, and there are very few buildings currently available to lease. Several proposed projects are planned to begin construction soon, but there is at least an eight month wait before the next wave of new building deliveries.  This rise in demand has put Columbia in a “space race.” There are two factors to the space race. Prospective tenants must act quickly because they are competing against one another for a small pool of available buildings. In the meantime, developers are racing to get product out of the ground to accommodate market demand.  Until the vacancy rate increases, tenants will need to react quickly to secure available space. Industrial construction in the Columbia market is expected to boom over the next few quarters to keep up with demand. 

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Columbia industrial report

2020 Q3 Industrial Columbia Report

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Related Experts

Chuck Salley

Vice President and Director of Industrial Brokerage Team

Columbia

I am the Vice President and Director of the Industrial Brokerage Group for Colliers in Columbia. I have experience in all aspects of industrial brokerage, including leasing, sales, build-to-suit, site acquisition, investment sales and consulting. I have been with Colliers since 1981 and have completed over a thousand transactions in my career. I am an expert in the industrial market and am proud to have represented many national and multi-national companies with their real estate needs in the Columbia market, including Knauf Insulation, United Technologies, Lennox Industries, Howden Buffalo, ESAB, Sony, RNDC, Interstate Resources and Mainline Express. I have also provided valuable consulting work, site acquisition and leasing services for many national developers, including Panatonni Development, Red Rock Developments, Kirco and Miller Valentine Group. 

I am inspired by the drive of my clients and customers to grow their business, create jobs and invest in our community. I enjoy the thrill of taking on the challenge to find real estate solutions for them to help them progress in their business goals. My experience in Columbia gives me a solid platform to deliver solutions that enable these companies to grow.

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Dave Mathews

Vice President

Columbia

I am a Vice President with Colliers International | South Carolina, specializing in industrial real estate in South Carolina. I serve both tenants and landlords with their respective industrial  needs. I assist tenants with comprehensive site selection, acquisitions and dispositions, and lease negotiations. In addition, I offer similar services to institutional landlords, which include strategic planning, detailed reporting and market analysis, marketing and lease/sale negotiations. I work with a collaborative team consisting of senior level associates and find that our teamwork is one of our biggest advantages in completing deals that exceed our client’s expectations.

Working in industrial brokerage, I have the opportunity to see the vast progress of companies and help to play a part in our client’s business development. I find that, for me, success is finding the best possible outcome for a client within their constraints and knowing that I have brought significant value to their growth.

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Thomas Beard

Senior Brokerage Associate

Columbia

As a Senior Brokerage Associate with Colliers International | South Carolina and a member of the industrial team for central South Carolina, I specialize in leasing, user sales and investment sales of industrial properties.

Since a young age, I have had a profound interest in commercial real estate. I have long found industrial brokerage to be intriguing because it serves as the foundation of many different types of businesses and processes. It is very rewarding to have the opportunity to play a role in the goals and progress of each of our clients as a trusted commercial real estate professional.

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John Peebles

Brokerage Associate

Columbia

I am a Brokerage Associate in our Columbia office working with the industrial brokerage team of Chuck Salley, SIOR, Dave Mathews, SIOR and Thomas Beard. Our team focuses on landlord representation and site selection for tenants looking in central South Carolina. 

I have thoroughly enjoyed the challenging and rewarding nature of industrial brokerage. Our team has the privilege to work with clients and prospects on both sides of a transaction and find solutions to best suit their needs. We get to play a role in growing businesses in our community and stimulating the local and regional economy. This is a reward that few other careers can offer.

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