source: Columbia Regional Business Report
Leasing a building before it is even built might have seemed like an unusual business practice a few years ago, but in today’s hectic supply-chain environment it has become a common occurrence, especially in a rapidly growing market like South Carolina.
The demand for speculative industrial buildings that can also be used for distribution and logistics is growing statewide, with no significant slow down in sight.
What makes speculative buildings so popular is the fact they are built with no specific tenant in mind, but with amenities that can be useful to a wide variety of businesses. As more companies expand into South Carolina, the need for a way to distribute their products as well as places for their vendors to set up distribution grows.
“Despite economic headwinds, we continue to see strong demand and short supply for speculative buildings, with leases being executed on speculative buildings either before developers break ground or while they are under construction,” said Chuck Salley, managing director in Colliers’ Columbia office.