Skip to main content Skip to footer

2019 Q2 Retail Greenville-Spartanburg Report

Download Report
Retail_HERO_1536x1040

Retail activity slows during the second quarter

  • The Greenville-Spartanburg retail market posted a net negative absorption of 542,492 square feet during the second quarter of 2019.
  • During the second quarter of 2019, there were 51,520 square feet delivered to the non-core Greenville-Spartanburg retail market.

Market Conditions

The Greenville-Spartanburg retail market is comprised of 16.54 million square feet of retail space. The market posted a net negative absorption of 542,492 square feet this quarter, largely due to non-core submarkets posting a net negative absorption of 426,782 square feet. Core retail shop spaces posted a net negative absorption of 79,710 square feet but, Magnolia Park Town Center absorbed 53,407 square feet this quarter. As a result of the negative absorption, the overall retail market vacancy rate increased from 9.97% last quarter to 12.10% during the second quarter of 2019. The quarterly average shop space weighted rental rate increased from $12.20 per square foot to $12.88 per square foot during the second quarter of 2019. Core shopping center weighted rents averaged $31.45 per square foot and non-core weighted rents averaged $9.90 per square foot. The range of rental rates spanned from $5.11 per square foot in East Spartanburg non-core retail shops to $32.47 per square foot in Woodruff Road core retail shops.

Download pdf

Download the full report

For more information, including the market summary statistics, download the full research report.

Download report

2019 Q2 Retail Greenville-Spartanburg Report

Download Report
Related Experts

Crystal Baker

Research Manager | South Carolina

Columbia

I am responsible for the collection of market data and the interpretation and reporting of key research insights for the state of South Carolina. I produce and distribute approximately 65 market reports per year for various property types including office, industrial, retail, multifamily, hotel, construction and parking. I manage research interns who collect the data for market reports and other projects. I am responsible for coordinating with regional and national researchers to produce branded thought leadership content. I am also involved in on-demand research projects for brokers and their clients as well as research initiatives related to the expansion of Colliers’ corporate services and advisory offerings across South Carolina. I strive to be an asset by providing the highest level of market intelligence. 

My experience in commercial real estate administration gives me a deeper understanding of the terminology and real estate processes, allowing me to provide the highest quality of research services to Colliers’ clients.

View expert