Colliers Report: Greenville-Spartanburg Office Market Q1 2026

Colliers | South Carolina Market Report

Years of rent growth are creating conditions for new construction.

Market Highlights

Backed by professional services tenants’ demand for downtown space in a thriving Greenville-Spartanburg business climate, a new construction start downtown appears imminent. Once complete, 101 East Court would mark the first multi-tenant office construction in the Greenville CBD since the Camperdown project’s 2021 completion

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Key Takeaways

• Sharp rent gains for downtown Class A have supported strong pre-leasing for 101 E. Court at $50.00 per square foot.
•  Absent new construction, high-quality downtown vacancy is likely to remain minimal, locking tenants in place and pushing lease terms longer as tenants seek to mitigate further rent increases.
• Novant Health’s purchase-leaseback of TD Bank’s ±295,000-square-foot campus marks the market’s continued evolution amidst robust healthcare demand growth.
•  An abundance of large suburban spaces remain available as corporate tenants continue to right-size footprints.

About Colliers

Colliers | South Carolina is the largest full-service commercial real estate firm in South Carolina with 225 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 31 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 $5.5 billion in annual revenues, a team of 24,000 professionals, and $108 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