Industrial vacancy rates above 11 percent; expected to drop
Industrial vacancy rates in the Columbia area are hovering just above 11 percent so far this year and are poised to decline in the coming months, commercial real estate firm NAI Avant said Tuesday. County governments and public utilities are anticipating stronger demand because of major industrial projects, such as tire manufacturers Continental, Bridgestone and Michelin, that are ramping up production. As a result, the public entities are undertaking speculative projects, including a 75,000-square-foot building in Fairfield County and a planned 50,000-square-foot building in Newberry County. Speculation in the private sector remains tentative, the report said.
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