The industrial real estate market in Spartanburg County has experienced significant growth in recent years, with a substantial amount of new inventory added to the market. As we look ahead to 2025, there are several key trends to keep an eye on.
Vacancy Rate Outlook
By the end of 2025, the industrial vacancy rate is expected to decrease to 11%, down from the current rate of 16%.
Price Per Square Foot
The price per square foot for industrial properties is projected to rise to $69, up from the current $65.
Rent Growth Projections
While industrial rents are expected to continue rising in 2025, the growth rate is anticipated to slow compared to recent years. A 3.8% increase in rent over the next 12 months is projected, signaling steady, but more moderate, growth in comparison to the surge we’ve seen previously.
Final Thoughts
Of course, these are projections, and the market can always surprise us. We’ll be keeping a close watch on how the year unfolds and how these trends develop.
If you have any questions about this video or anything related to commercial real estate, feel free to reach out. Let’s connect!
Emma McDaniel
emma@mcdanielandco.com
864-576-4660
