Bruce Harper, SIOR; Peyton Bryant, SIOR, CCIM; Roger Winn, SIOR; Nick Stomski, SIOR; Macon Lovelace, SIOR
Known for its entrepreneurial spirit and best-in-class approach, Trinity Partners provides its expert insight on how the commercial real estate market is shifting in Columbia.
While Columbia’s stability through macro-economic swings has insulated the Midlands’ office market, expect to see more companies leasing space in the coming months due to the rising cost to borrow money and continued high construction costs associated with making new purchases. Buildings offering the best combination of amenities and location will see greater activity as many local businesses value being back in the office.
The business-friendly economic climate in South Carolina, combined with the success of the Charleston and Greer ports, continue to attract industrial related business. Meanwhile, conveniently located, small and medium sized retail centers will replace outdated mall concepts; as a result, expect to see the redevelopment of dilapidated centers as demand for a quality shopping experience rises.
Investors who have stowed away cash will see increased opportunities to deploy it as competitive investors who rely on financing will slow their activity in the current financial climate. This will allow some to capitalize on the rising rates of return offered amongst otherwise low return real estate investments.
Trinity Partners’ team of experts in office, industrial, retail sales and leasing, and investment sales stands ready to help clients weather any challenge and embrace new opportunities in 2023.
