Commercial Real Estate Activity Surges in Upstate South Carolina

News Summary

Upstate South Carolina’s commercial real estate market is experiencing significant growth, highlighted by major leases and sales, including Infintium Fuel Cell Systems and Oceana Rapid LLC. With a $150 million mixed-use development and rising demand for Class A office spaces, Greenville is poised for a dynamic real estate future. As the area attracts corporate relocations and job growth, local activity kicks into high gear, making it an exciting time for commercial properties in the region.

Greenville Buzz: Commercial Real Estate Activity Soars in Upstate South Carolina

Hey there, Greenville! If you’ve been keeping your ear to the ground, you probably already know that the local commercial real estate scene is buzzing. And we’re talking about some major activity here in Upstate South Carolina. The first quarter of 2025 has been lively, with a range of new developments including sales, leases, and acquisitions that are putting our area on the map!

Big Leases and Sales

Let’s kick things off with Infintium Fuel Cell Systems, who has just leased a whopping 78,913-square-foot industrial property in Greer. This move was expertly guided by real estate pros Chris Schweighart and Sam Faulkenberry. Meanwhile, over in Greenville, Oceana Rapid LLC sold their 80,985-square-foot property at 1320 Hampton Ave. Extension to Abacus Acquisitions LLC. This deal was facilitated by the talented team of Gary Lyons, Ned Reynolds, and Rob Howell. The excitement doesn’t stop there!

In a strategic move, Contender Development Inc. has snatched up 26.549 acres on McElrath Road in Woodruff. This buy was expertly negotiated by Caleb Boyd, while Douglas Peterson from Divine Realty LLC represented the seller, Krut Patel. Talk about a solid investment!

Exciting New Developments

Ready for more? A 92,960-square-foot property at 55 E. Camperdown Way has been sold by several agents managing the seller’s interests. And you’ll want to check out the colossal deal involving Augusta Road Enterprise, who sold an incredible 1,006,880 square feet of industrial space at 7755 Augusta Road to Project Blackbird. This transaction involved the skilled representation of Garrett Scott, Dillon Swayngim, John Montgomery, and Brockton Hall. Truly staggering figures!

Retail space isn’t left out of the action either! Greer Ace Hardware has leased 15,000 square feet at 1100 W. Wade Hampton Blvd. in Greer, thanks to landlord Greer Rite Aid LLC and Chuck Langston’s efforts. It looks like the retail game in Upstate South Carolina is gaining momentum!

New Spaces on the Horizon

There are also some exciting projects brewing. A $150 million mixed-use development is set to rise at 250 N. Church St. in Greenville, with construction kicking off in summer 2025. It’s bound to bring some serious energy to the area! Not to be outdone, a $2.2 million revitalization project at 5365 N. Main St. in Cowpens is also underway, featuring nine apartments alongside attractive retail space.

Meanwhile, the historic Daniel Building in downtown Greenville is getting a makeover aimed at wooing new tenants, with renovations wrapping up by the end of summer 2025.

Market Insights

If you think that’s impressive, wait until you hear about the current state of Class A office space in downtown Greenville. The availability has hit a jaw-dropping low of just 3.89%, pushing rents up to an astounding $36.84 per square foot! If you’re looking for space, you better act fast!

Right now, Upstate South Carolina is witnessing a remarkable surge in demand for commercial properties, fueled by corporate relocations and steady job growth. It’s an exciting time for the area as we’ve got promising developments and real estate transactions paving the way forward.

Conclusion

So there you have it, folks! The Upstate South Carolina commercial real estate market is certainly in the fast lane. With plenty of activity on the horizon, it looks like growth is here to stay. Keep your eyes peeled, because Greenville is set to become even more bustling in the years ahead!

Deeper Dive: News & Info About This Topic

HERE Resources

New Developments Transforming Greenville and Upstate
New Leadership at Colliers | South Carolina
Exciting Trends Shaping the 2025 Real Estate Market!
Greenville’s Office Market Booms Despite National Trends
Greenville Welcomes New Flathouse Studios: A Trendy Living Experience!
Colliers South Carolina Appoints New CEO David M. Feild
Greenville’s Gateway Project Approved for Downtown Revitalization
The Beach Company Celebrates 80 Years of Community Impact
Greenville Advances Affordable Housing Initiatives
Transformative Development Project on Greenville’s Skyline

Additional Resources

• Upstate Business Journal: Notable Commercial Real Estate Transactions
• Bisnow: State of Commercial Real Estate in Upstate South Carolina
• Upstate Business Journal: Status Update on Upstate Commercial Real Estate Projects
• Post and Courier: Class A Office Space Leased Downtown Greenville
• Greenville Business Magazine: Greenville’s 50 Most Influential People 2024
• Wikipedia: Commercial Real Estate
• Google Search: Commercial Real Estate Trends
• Google Scholar: Commercial Real Estate
• Encyclopedia Britannica: Commercial Real Estate
• Google News: Commercial Real Estate