2002 Q4 Industrial Greenville Report

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Market Overview

The Upstate South Carolina market is strategically located on the I-85 corridor 100 miles south of Charlotte, NC and 150 miles north of Atlanta, GA. This region has approximately one million people in ten counties. In recent years, the Upstate has led the state and nation in per capita investments and job growth. Over the past thirty years, this region has transformed from the textile capital of the world, into a diverse economy of headquarters operations, world class manufacturing facilities and distribution centers.

The Upstate’s diverse economic base includes numerous Fortune 500 companies, and more international investment per capita than any community in the United States. International giants such as General Electric, Lockheed Martin, Michelin, 3M, Caterpillar, BMW, Hitachi, Bosch, and BASF anchor the region’s industrial base.

Market Survey

The recently completed Colliers Keenan Goldsmith 2002 survey of industrial, warehouse, flex-space and manufacturing properties in Greenville, Spartanburg and Anderson Counties identified approximately 35,000,000 square feet of space. The survey focused on general use, competitive properties and specifically excluded facilities that would be considered heavy manufacturing operations. Many of these properties are concentrated in business parks located along the Upstate’s major thoroughfares, including I-85, I-26, I-385 and I-185.

The survey indicated a vacancy within the surveyed properties of approximately 20%. This historically high vacancy rate is the result of a numerous plant closings, downsizing of ongoing manufacturing operations and significant reductions in inventories, a reflection of the adverse national economic climate of recent months.

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Greenville industrial report

2002 Q4 Industrial Greenville Report

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