Mar
31

Ouch….Extended Stay Hotels Relocating from Spartanburg to Charlotte

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Extended Stay Hotels announced today that they will relocate their corporate headquarters from Spartanburg to Charlotte. This is a blow to the Spartanburg office market, which had seen an increase in occupancy rate of 200 basis points over the past year, according to CoStar. Over the past three quarters, the Spartanburg submarket experienced office absorption of about 131,000 square feet, and even saw asking rental rates increase in each quarter. Hopefully, Spartanburg will be able to continue what appered to be a strong office market recovery.

Michael Dodds, MAI, CCIM 

Categories : Spartanburg

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