Colliers Report: Greenville-Spartanburg Office Market Q3 2025

Colliers | South Carolina Market Report

Market fundamentals strong as users eye growth

Market Highlights

Current Lighting’s (formerly Hubbell) three-floor giveback of 138,322 square feet at 701 Millennium Blvd led to net absorption of -61,640 square feet in Q3, masking what was otherwise a solid quarter of new leasing activity. However, this new vacancy presents a rare headquarters opportunity in a market gaining increasing corporate interest, underscoring Greenville’s rising national profile.

Tenant activity remains strongest in the financial services and engineering sectors, with the I-385/I-85 and Mauldin submarkets continuing to lead demand.

Continue reading the full report.

Key Takeaways

• Over 183,000 square feet of gross absorption masked by a
  small number of significant moveouts
• Class A space remains virtually nonexistent downtown,
  sparking tenant competition
• Downtown Spartanburg will see the market’s next construction
  start with Johnson Development’s Project Core

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.