Columbia Medical Space Under 10% Vacancy


The vacancy rate for medical office space fell below 10% for the first time in more than four years, according to a local market report released Thursday by Colliers International.

The overall vacancy rate for the Columbia area fell to 5.86% in the second quarter compared with 12.45% for the same period in 2011, the report said. The second quarter ended with 167,865 square feet of space available for leasing, compared with 356,777 square feet for the same period in 2011. The area has about 2.9 million square feet of medical office space.

Much of the increased leasing activity is attributed to expansion of health care services in the suburban areas of Lexington and Richland counties, the commercial real estate firm said.


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