Colliers Report: Greenville-Spartanburg Industrial Market Q1 2025
May 1, 2025
Colliers | South Carolina Market Report
Momentum in Upstate industrial market continues despite trade uncertainty
Market Highlights
The Greenville-Spartanburg industrial market carried momentum from a tremendous Q4 into the first quarter of 2025 as multiple bulk deals were finalized early in the year, driving vacancy below 10% for the first time in over a year. Manufacturing users, headlined by Eaton’s 861,000-square-foot lease in Union County, and in-market warehousing tenants comprised the bulk of activity, while data centers are seeking space with existing heavy power infrastructure.
Inland Port Greer’s expansion, completed in March, brings additional connectivity across the Southeast with expanded container yards and additional rail capacity. However, tariff-driven economic uncertainty is slowing new activity even as the existing deal pipeline continues towards completion, though the market’s strong fundamentals and advanced industry presence create a favorable long-term outlook.
Continue reading the full report.
Key Takeaways
- Speculative construction pipeline emptying as next wave is in planning
- Heavy power access of interest for manufacturing and data center users
- Deals from 2024 are pushing towards the finish line, while new activity is slowing due to economic uncertainty
About Colliers | South Carolina
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.
