Dec
07

Columbia Vacancies: Industrial Down, Office Up

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Columbia’s commercial and industrial real estate markets posted mixed results for the third quarter of 2011.

The vacancy rate for Columbia’s industrial real estate market improved, while the office market took another hit, according to a report by NAI Avant.

The vacancy rate for the industrial space dropped to 10.7% due to a net absorption of 149,827 square feet of manufacturing and distribution space, the firm said. That compares with a vacancy rate of 11% at the end of the second quarter and 11.1% for the first quarter.

Key sales transactions for the quarter included Spirax Sarco’s acquisition of 35,800 square feet at 1101 Carolina Pines for $1.9 million. SC Liquidators’ move into a former 54,000-square-foot warehouse at 1215 Shop Road topped industrial leases.

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