Spartanburg’s Industrial Real Estate Market is Leading the Nation
A new article from Costar confirms what many in the Southeast have been feeling: the Spartanburg, South Carolina industrial real estate market is officially leading the nation in recovery and growth. This impressive performance is a testament to the region’s economic resilience and strong demand for industrial space.
According to a recent CoStar report cited in the video, Spartanburg has seen a remarkable 3.4% increase in industrial occupancy over the past year. This significant absorption has brought the market’s current vacancy rate down to approximately 10.7%, signaling a healthy correction following a period of oversupply.
The Dynamics Behind the Surge
The market’s current strength is a direct result of the steady absorption of excess inventory. As the video explains, a previous spike in vacancy was caused by a simultaneous influx of new construction and sublease space, coupled with a general market cooldown. However, this excess product is now being robustly absorbed by the market.
This trend paints a highly optimistic picture for the coming year. The market is moving into a period of “steady absorption,” which indicates sustainable and healthy growth rather than a volatile boom. For investors, developers, and businesses looking for a dynamic and resilient industrial hub, Spartanburg is clearly the place to watch.
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Emma McDaniel, CCIM
864-576-4660
emma@mcdanielandco.com
