Upstate Attracts New Retailers

Key Takeaways

  • Retail activity was steady through the second quarter, which ended with a vacancy rate of 12.35%.
  • Bass Pro Shops is coming to Spartanburg.
  • New retailers flock to the market.
  • Downtown Greenville becoming increasingly vibrant. 

Current Conditions

The Upstate, South Carolina retail market ended the first half of 2014 with a vacancy rate of 12.35%, slightly higher than the first quarter vacancy rate of 12.28%.  The Greenville retail market continues to improve and change, attracting new retailers to the state and motivating redevelopment in the region.  Verdae Development recently announced plans for a $100 million redevelopment of more than 100 acres between Laurens Road and Woodruff Road.  The redevelopment will consist of 30 acres of redeveloped retail space and will involve demolishing the former Best Buy and Sam’s Club sites on Laurens Road.  The recent redevelopment of the former Greenville Mall, now known as Magnolia Park, has proven very successful and attracted major retailers such as Cabela’s and Dave & Busters, as well as providing a new home to existing retailers such as Toys R Us.

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