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2022 Q2 Office Greenville Spartanburg Report

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By Crystal Baker, Research Manager | South Carolina

Greenville-Spartanburg office market sees low vacancy and rising rates

Key Takeaways

  • Continued flight-to-quality trend lowered the Class A downtown vacancy rate to 7.68%
  • Rental rates will increase due to lack of space, rising construction costs and inflation

The Greenville-Spartanburg downtown Class A office vacancy rate dropped to 7.68% and is lacking large space availabilities. Tenants prefer quality offices and amenities found in the Greenville Central Business District to enhance employee retention. Rental rates are rising due to increasing construction costs and a lack of available space. While tenant improvement allowances are still offered, other concessions are more limited. Tenants are advised to renew leases early to secure office space at least one year in advance of their next lease expiration date. 

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2022 Q2 Office Greenville Spartanburg Report

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Brantley Anderson | Colliers | Greenville

Brantley Anderson

Vice President

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+1 864 527 5440
+1 864 630 6581
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As a Vice President in the Greenville, SC office, I specialize in office leasing and sales as well as tenant representation. My primary responsibility is to represent local ownership entities, private equity groups and national REITS on their real estate portfolios in the Upstate (Greenville-Spartanburg). Working through acquisitions, repositioning, leasing and disposition, our team delivers comprehensive leasing strategies and innovative solutions to landlord clients. Utilizing a marketing background, I am able to think creatively and provide effective solutions for rebranding and repositioning assets in our portfolio, maximizing the potential of each property and positioning clients for success. Our innovative property marketing, financial analyses and thoughtful comprehensive leasing strategies are best in class.

My team is responsible for the leasing of over 1,500,000 square feet of office properties in the market. 

Since 2015, my team has completed more than $220,000,000 in transactional volume.

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Taylor Allen | Colliers | Greenville

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+1 864 527 5423
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As a Vice President in the Greenville, SC office, I specialize in office leasing and sales. My primary responsibility is to represent local ownership entities, private equity groups and national REITS on their real estate portfolio in the Greenville-Spartanburg market, also known as the Upstate. Working through acquisitions, repositioning, leasing and disposition, our team delivers innovative solutions to both landlord and tenants alike.

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Bailey Tollison | Colliers | Greenville

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+1 864 527 5419
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I specialize in office leasing and sales, working alongside Brantley Anderson and Taylor Allen. Our team’s exclusive focus on office transactions allows us to be experts in our field, providing specialized knowledge to our clients’ office needs.

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