Feb
03

Columbia Industrial, Retail Markets Stable According to Colliers Keenan

By
– SCbizmag.com

While the retail and industrial markets in the Columbia metropolitan area experienced a decline in occupancy during 2008, the markets are relatively stable in comparison to national averages, Colliers Keenan commercial real estate company announced Monday.

The industrial market reported a 4.4% increase in vacancy rates during 2008, finishing the year at 6.78%. Even though the Columbia market absorbed 1.4 million square feet of direct vacant space, the vacancy rate has remained well below the national average, the report said.

Colliers Keenan said the Columbia industrial market was able to attract national developers at year-end 2007 with the lowest vacancy rate in the United States at 2.4%. By the end of 2008, there was 737,050 square feet of industrial space under construction in Columbia, which will add 586,650 square feet of speculative industrial space to the market in 2009.

ARTICLE SHORTENED DUE TO LENGTH….


LINK TO ARTICLE HERE:

http://www.scbizmag.com/content/view/105295/1/

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