Greenville-Spartanburg office tenants’ flight to quality
Key Takeaways
- Tenants prefer high-quality office space and amenities and are willing to pay for them
- Vacancy rate is expected to decline next quarter as tenants return to work and reassess their office needs
The Greenville-Spartanburg office market continues to see increased activity as the pandemic recedes. However, employees are demanding flexibility in the way they utilize office space and higher-quality environments. This is driving tenants who are trying to retain staff in an increasingly competitive labor market toward higher quality buildings and spaces. Most Greenville-Spartanburg office tenants have either returned to their offices or are using a hybrid work schedule. Despite those differences, tenants are trending toward a flight to quality.
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