Greenville-Spartanburg market is a top industrial market to watch in 2019
- Colliers International named Greenville-Spartanburg one of the top 10 Emerging U.S. Industrial Markets to Watch in 2019.
- Increased interest from investors and developers will add speculative and build-to-suit buildings to the market.
- 3.4 million square feet of industrial space was absorbed this quarter, confirming demand within the region.
- 6.37 million square feet of new construction is expected to be delivered to the market in the next twelve months; quick absorption and demand are anticipated to continue.
Booming industrial region
A strong manufacturing workforce, convenient logistics’ infrastructure and ample land for development generates high demand within the Greenville-Spartanburg industrial market. In addition, the Inland Port Greer continues to set container volume records — drawing interest from manufacturers and distributors. Many companies are moving to the area to set up regional distribution hubs, e-commerce fulfillment and import/export centers. Advanced manufacturing, automotive and distribution are each distinct demand drivers and are all buoyed by a strong labor force and supporting infrastructure. Investors and developers continue to purchase tracts of land and construct speculative and build-to-suit buildings in order to keep up with demand. Despite the extraordinary amount of square feet currently under construction, rapid building absorption is expected to occur and demand continue.
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