Greenville-Spartanburg Industrial Vacancy at 8.9%


The Greenville-Spartanburg industrial real estate market is on a roll.

The fourth quarter marked the seventh consecutive quarter of positive absorption, as manufacturing and distribution companies such as Carbures and Colgate-Palmolive bolstered the market, according to a new report from Colliers International. The quarter ended with a vacancy rate of 8.9%, lower than the 9.1% recorded during the third quarter and the 10% reported at the end of 2012. The rate is the lowest it’s been in years, according to Colliers.

The consistent absorption and falling vacancy rates are fed by both growing demand and diminishing availability, according to the Colliers fourth-quarter report. New projects include construction by Atlanta-based Pattillo Industrial Real Estate on a 108,000-square-foot Class A building and a 100,000-square-foot expansion of the Corporate Center, both in Spartanburg County.

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