Jul
30

Industrial Market Vacancies on Rise in Columbia

By
– SCbizmag.com

The Columbia industrial market continues to experience rising vacancy numbers with a midyear report showing a rate of 7.89%, Colliers Keenan Inc. commercial real estate company reported.

The vacancy rate at midyear 2008 was 3.25%, and it was 6.78% by year’s end. Even with the increase, it is still rare in this economy to see vacancy rates in the single digits, said Ryan Hyler, Colliers Keenan’s director of marketing and research.

Absorption for the first two quarters of the year resulted in an occupancy decline of 79,166 square feet, and new construction accounted for 310,000 square feet of available space in the market.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.scbizmag.com/content/view/128269/1/

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