Colliers Report: Greenville-Spartanburg Retail Market Q2 2025

Colliers | South Carolina Market Report

Activity rebounds as tenant churn continues

Market Highlights

The Greenville-Spartanburg market saw absorption bounce back to 83,396 square feet behind solid new leasing activity. High-quality spaces remain hard to come by as vacancy remains concentrated in older properties, increasingly prompting owners to pursue capital for renovations. The market continues to see healthy turnover with tenants on shorter-term deals being replaced by credit tenants in the highest-quality properties.

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Key Takeaways

• Natural churn continues to add liquidity in high-demand submarkets
• Rent growth beginning to emerge steadily across the market
• Home goods retailers remain hot, particularly in backfilling bankruptcy-driven availabilities

About Colliers

Colliers | South Carolina is the largest full-service commercial real estate firm in South Carolina with 66 licensed real estate professionals covering the state with locations in Charleston, Columbia, Greenville and Spartanburg. Colliers is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina with a portfolio of over 26 million square feet of office, industrial, retail and healthcare properties. Colliers’ staff hold the most professional designations of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.

Colliers is a global diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering and Investment Management – we have a proven business model, an enterprising culture and a unique partnership philosophy that drives growth and value creation. With annual revenues exceeding $4.8 billion, a team of 23,000 professionals and $99 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.