Industrial Performance

South Carolina Industrial Sector

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Greenville-Spartanburg’s industrial sector is poised for a robust recovery, showing improved performance across various metrics after a challenging 2023. The first quarter of 2024 saw significant gains in net absorption and overall lease rates, even as the vacancy rate increased to 10.08%. Despite this rise in vacancies, the reduction in sublease availability and sustained construction levels suggest a healthier market dynamic. As the pace of new deliveries slows, the region is expected to better absorb the available space, positioning it for continued growth and stability throughout the year.

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