May
04

NAI Avant: Columbia Industrial Vacancy at 8.9%

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nai industrial 5-4-2015Current overall vacancy in the Columbia industrial market, which totals about 54 million square feet, hovers at 8.9% and continues to fall as an improving economy prompts new companies to move into the region and existing firms to expand.

Inside the numbers, only 4.1% of Class A industrial space and only 6.9% of Class B space was vacant, Nick Stomski, senior broker at NAI Avant, said in the firm’s first quarter 2015 report.

Stomski The remaining Class C space is comprised mainly of functionally obsolete or much less desirable buildings that will continue to face challenges, he added.

Class A industrial space has seen dramatic decreases in quoted rental rates, Stomski said.

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