Columbia, SC - Office Market Overview
The Columbia Metropolitan Area includes the Arsenal Hill, Colonial Park, and Robert Mills office space submarkets. With a metropolitan population of over 800,000 people, the economy in Columbia is driven in large part by the healthcare, education, and defense industries, all of which create a consistent, predictable demand for office space in Columbia.
As of mid-2017, the Greater Columbia office market encompasses over 12 million square feet of existing office space in properties larger than 50,000 square feet. As the capital of South Carolina and the state's second-largest city, there is a consistently growing demand for Class A office space and commercial real estate in Columbia SC.
Columbia, SC - Office Inventory Description
Both the economy of Columbia and the real estate market are diverse. With a gross metropolitan product of over $39 billion annually, there is robust demand for white-collar office employment. Over 40% of the office inventory in Columbia is Class A or A+, with Class B office product adding another over 7.2 million square feet of office space to the market.
The Bellview office submarket in Columbia consistently sees strong demand from both tenants and office building investors alike. Located north and south of the Harden Street Extension between Main Street and State Route 16, this area is home to investment-grade office properties such as the 1331 Elmwood Avenue office building, the Palmetto Health Richland - 1 Medical Park, and The Commons at Bullstreet - First Base Building at 2150 Harden Street.
Columbia, SC Commercial Inventory Breakdown
Total: 12,475,783 SF
By square footage range:
- 50k to 100k SF: 4,180,173 SF / 33.51% of total office
- 100k to 500k SF: 8,295,610 SF / 66.49% of total office
- Class A: 4,975,241 SF / 39.88% of total office
- Class B: 6,676,410 SF / 53.51% of total office
- Class C: 824,132 SF / 6.61% of total office
Top 10 Largest Office Buildings
|Office building||Address||Sqft||Year built|
|Capitol Center||1201 Main Street, 29201||460,000||1987|
|17 Technology Circle||17 Technology Circle, 29203||456,304||1999|
|Meridian||1320 Main Street, 29201||335,000||2004|
|Blue Cross Blue Shield - 4101 Percival Road||4101 Percival Road, 29229||318,740||2001|
|1901 Main Street||1901 Main Street, 29201||303,156||1989|
|Blue Cross Blue Shield - Alpine Building||2501 Faraway Drive, 29223||300,000||1968|
|The Tower at 1301 Gervais||1301 Gervais Street, 29201||298,926||1973|
|Blue Cross Blue Shield - Atrium Building||2401 Faraway Drive, 29223||285,000||1993|
|1401 Shop Road||1401 Shop Road, 29201||265,000||1988|
|1441 Main||1441 Main Street, 29201||264,857||1988|
Most Recently-Built Office Buildings
|Office building||Address||Sqft||Year built|
|Innovista - Innovation Center||550 Assembly Street, 29201||110,000||2016|
|The Commons at Bullstreet - First Base Building||2142 Boyce Street, 29203||105,000||2016|
|522 Lady Street||522 Lady Street, 29201||29,829||2015|
|Prisma Health Baptist Parkridge Hospital - 300 Medical Office Building||300 Palmetto Health Pkwy, 29212||80,000||2014|
|AllSouth Federal Credit Union Headquarters||730 Elmwood Avenue, 29201||62,000||2014|
|Main & Gervais Office Tower||1221 Main Street, 29201||205,000||2009|
|6437 Garners Ferry Road||6437 Garners Ferry Road, 29209||150,333||2009|
|Innovista - Discovery I||915 Greene Street, 29208||117,000||2008|
|Pinnacle Point Business Park - 1021 & 1074 Pinnacle Point Drive||1021 Pinnacle Point Drive, 29223||70,255||2008|
|Delta Executive Plaza||1010 Wildwood Centre Drive, 29229||38,180||2007|
Columbia, SC - Green Office Space
The most recent survey of green office space in Columbia and the rest of the U.S. was conducted in 2017 by the National Green Building Adoption Index. The survey looked at the percentage of energy-efficient, green office buildings. In the top 30 U.S. office markets, the percentage of green office buildings, or those that are either LEED-certified or EPA Energy Star-rated increased by 33% over the past 12 years.
A great example of a LEED-certified office building in Columbia is the 1441 Main building. With nearly 265,000 square feet of Class A office space, this office building was constructed in 1988, is located in the Downtown Columbia commercial real estate market, and holds a LEED Gold certification. Looking at the metro area as a whole, there is just over 685,000 square feet of green office space in Columbia, a percentage that is sure to increase as both investors and tenants realize the advantages of energy-efficient office space.
Columbia, SC's Top Office-Using Sectors
The Columbia office market is driven in large part by the top office-using sectors of healthcare, manufacturing, government & defense, and large corporate office users.
- Healthcare – Demand for Class A office space in Columbia comes from organizations such as Palmetto Health, Blue Cross Blue Shield of South Carolina, and the Ritedose Corporation.
- Manufacturing – Companies such as Square D, CMC Steel, Michelin, International Paper, Honeywell, and Westinghouse Electric are among the numerous businesses in this top office-using sector.
- Government & Defense – Fort Jackson army base, McEntire Joint National Guard Station, and the South Carolina State House, along with the countless private businesses they attract, all create demand for white collar office space in Columbia.
- Corporate Offices – White-collar office employment comes from large companies such as Colonial Life & Accident Insurance Company, AgFirst Farm Credit, and the regional law firm of Nexsen Pruet, LLC.
- Total Population132,236
- Male Population(51.3 %) 67,861
- Female Population(48.7 %) 64,375
- Median Age28.30
- Average Household Income$69,516
- Median Household Income$43,650
- Median Income Under 25$19,500
- Median Income 25-44$49,996
- Median Income 45-64$56,188
- Median Income Over 65$37,310