Sep
25

Upstate Getting More Private Spec Buildings

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In Greenville and Spartanburg counties, private developers have dozers clearing sites for 100,000-square-foot and larger industrial spec buildings that will add jobs and benefit community tax coffers. Even with construction just starting, the pricy, high-ceiling projects already have relocating and expanding businesses lining up as prospective buyers or tenants.

“This is due in large part to Greenville’s attractiveness and existing development. The developers understand the value of our community,” said Kevin Landmesser, interim president and CEO at Greenville Area Development Corp.

Landmesser said the new private spec building projects in Greenville County follow other successes such as GE Aviation, Gordon Foods and Roy Metal buildings.

In some other Upstate communities that don’t have supplier magnets, such as BMW, development of spec properties has been slow since the Great Recession. Hal Johnson, chief development officer at NAI Earle Furman, said investors and developers have been cautious, but with the economy strengthening he sees growing demand for new industrial property, a product in short supply. Johnson said developers need to see successes with spec projects in the other Upstate counties.

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