Colliers Report: Columbia has less surface parking than last year
September 9, 2021
2021 Columbia Parking
Commercial Real Estate Research & Forecast Report
Market Highlights
Columbia parking remains challenging due to high office and residential occupancy rates downtown. In addition, new developments throughout Columbia are under construction where surface parking lots were located. Therefore, an already tight parking situation was compounded with the removal of surface parking spots.
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Key Takeaways
- New downtown developments are under construction eliminating surface parking lots
- The University of South Carolina purchased two previously public surface parking lots
- When offices return to full capacity the garage occupancy rate will likely increase
Summary
Businesses throughout the Columbia Central Business District are actively seeking to rent garage parking but are having difficulty locating convenient and available spots. For the time being, office employees who are working remotely continue to lease their monthly parking spaces.
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