Colliers Report: Greenville-Spartanburg Industrial Market Q3 2025

Colliers | South Carolina Market Report

Red-hot Upstate industrial market rockets towards record year

Market Highlights

Greenville-Spartanburg’s industrial market is on track for a record year, with 5.3M SF of net absorption in Q3 and 11.7M SF year-to-date. Strong demand for logistics and warehousing—supported by utility-scale solar development—has sustained momentum despite over 2M SF of moveouts in each of the past two quarters. Short-term deals still dominate the largest warehouse spaces, but early interest from long-term logistics users suggests durable future demand.

Continue reading the full report.

Key Takeaways

• Greenville-Spartanburg is on track for a record 2025 as vacancy has fallen 426 basis points year-over-year
• Rent growth has been uneven, but increasing supply restrictions may drive more consistent gains throughout 2026
• Speculative construction tracking at a fraction of absorption, creating surprising supply shortage potential into 2027

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 over $5.0 billion in annual revenues, a team of 24,000 professionals, and more than $100 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.