Greenville, SC - Colliers International’s Brantley Anderson leased 51,713 square feet of Class A suburban office space at 979 Batesville in Greer, SC. Anderson represented the owner, who currently occupies part of the building and will be joined by the new tenant, Regional Management Corporation.
The new occupancy further stresses the growing demand for office space in the Greenville market. Additionally, this transaction represents the absorption of a large block of available space, leaving very few opportunities for other large office users in the suburban market.
The city’s suburban market has tightened over the past year. Colliers’ latest office market report for the MSA showed total vacancy rates for I-385/85 suburban submarkets are down to 17.6% from 18.2% the previous year. There is a growing demand for Class A office space and a lack of inventory for Class A space over 20,000 square feet. Suburban submarkets prove to be attractive to tenants, given their lower rental rates and greater options for space, which positioned 979 Batesville ideally in the market for successful lease-up. 979 Batesville contains 98,000 square feet of office space and is located in the highly sought-after Pelham Road/I-85 submarket of Greenville, SC, making it desirable to employees across the entire Upstate.
“We have seen a growing interest and need for the suburban office space,” said Anderson. “The suburbs offer free parking, convenient access and often feature recently renovated buildings, all of which are offered at 979 Batesville.”
Anderson is a Brokerage Associate who specializes in office brokerage.