Q3 2026 Columbia Industrial Figures

Columbia's industrial market posted positive results in Q3 2026, as overall vacancy declined 30 basis points (bps) to 4.2% and net absorption totaled 367,000 sq. ft., the highest level since Q1 2026. The market absorbed 190,000 sq. ft. of new deliveries while maintaining a vacancy rate below 5.0% for the fourth consecutive quarter.

Performance varied by class. Class A vacancy increased slightly to 2.2% but remained the market's lowest-vacancy segment. Class B vacancy declined from 6.1% to 5.3%, extending a trend that began earlier this year, while Class C vacancy increased to 4.2%. Northeast Columbia and Kershaw County recorded the largest occupancy gains, combining for 282,000 sq. ft. of net absorption.

Average asking rents reached $6.61 per sq. ft., up 3.3% from Q2 and 12.4% year-over-year. Construction activity increased significantly, with 1.2 million sq. ft. underway at quarter-end, compared with 355,000 sq. ft. three months earlier. Leasing activity totaled 377,000 sq. ft., bringing year-to-date volume to 1.4 million sq. ft., with new leases accounting for more than 90% of completed transactions.