Business as usual in Greenville-Spartanburg shops
- Greenville-Spartanburg shops post positive absorption and declining vacancy rates
- Micro-concepts are an emerging trend for restaurants
Despite national concerns surrounding inflation and higher interest rates, it is business as usual or better in the Greenville-Spartanburg retail market. During the second quarter of 2022, the market posted 43,442 square feet of positive absorption with the vacancy rate decreasing to 4.06%. Gross retail sales continue to increase quarter-over-quarter and are up 11.5% annually from May of 2021 to May of 2022.
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