Absorption in 2022 expected to top previous years as new construction delivers
- As new construction is delivered, the Greenville-Spartanburg market is on track for another record-breaking year of absorption
- Demand is strong enough to continue leasing available space despite rising rental rates
- Greenville-Spartanburg prices remain lower than other industrial markets in the Southeast and nationwide
Construction prices are rising nationwide, which is in turn pushing rental rates upward. In Greenville-Spartanburg, however, demand is strong enough to weather the increase. Approximately 16 million square feet of new industrial space is currently under construction, the majority of which has been pre-leased.
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