Colliers Report: Ongoing demand boosts absorption and pre-leasing activity
August 29, 2022
Commercial Real Estate Research & Forecast Report
Q2 2022 South Carolina Industrial
Market Highlights
From the second quarter of 2021 through this quarter there were approximately 14.6 million square feet of new industrial buildings completed in South Carolina. Unmet demand has led to unprecedented positive absorption in recent quarters. It is an extremely competitive market for tenants as they scramble to pre-lease buildings as soon as construction begins.
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Key Takeaways
- 10.4 million square feet will deliver during the second half of 2022, most of which is pre-leased
- Robust demand with declining vacancy rates and positive absorption outweigh economic uncertainty
Forecast
Increasing costs and rising interest rates coupled with capitalization rate compression is creating some expected uncertainty in the market, however, robust activity continues to outweigh hesitancy each quarter with positive absorption and a declining vacancy rate
About Colliers
Colliers | South Carolina has over 145 staff members, including 62 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. Total 2021 brokerage volume exceeded $1 billion, which included over 590 sales and leasing transactions. In addition to traditional commercial real estate representation services for our clients, the company is actively engaged in Corporate Solutions and Healthcare Services. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina, with a portfolio of over 17 million square feet of office, industrial, retail and healthcare properties. Colliers’ staff hold 54 professional designations, the most of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina and set a new record by managing a portfolio of projects approaching $1 billion in volume during 2021.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our more than 17,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. With annualized revenues of $4.3 billion and $65 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
