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Commercial Real Estate in Greenville, SC - 108 Properties Available

Greenville, SC Economic Overview

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Located in the upstate region of South Carolina, Greenville has a population of over 67,000, making it the largest city in the region and the fastest growing urban area in the state. Part of the Greenville-Spartanburg Metropolitan Statistical area, with nearly 1.5 million people, it is centrally located in the fastest growing region of the state and strategically positioned along the Interstate 85 corridor, which connects Atlanta, Georgia with Charlotte, North Carolina. The Greenville area has attracted the highest amount of international investment per capita in the country and is one of the largest export markets in the U.S. Demand for commercial real estate in Greenville continues to attract both domestic and foreign capital, year after year.

Greenville has earned numerous awards and recognition for its business investment, job growth and quality of life. Various publications have named Greenville as one of the top 10 fastest growing cities in the U.S., the city with the third-strongest job market, the 13th-best city for young professionals, and just last year was named the 4th-fastest growing city in the U.S.

Over the last several years, Greenville has leveraged its favorable wages and tax benefits to lure foreign investment to the area. Job growth in Greenville has increased by more than 4% year-over-year, due to a well-educated work force, a diverse economy of automotive-related industries, emerging technology and green energy businesses, and a median household income of just under $42,000 per year.

Greenville, SC Commercial Real Estate Market

The Greenville office market consists of over 25 million square feet of inventory. While about one third of the office inventory lies in the central business district, the suburban markets along the I-85 and 385 corridors have seen a surge of growth, as investors seek value-added opportunities to update and renovate older space, raising rental rates and occupancy percentages in the process.

Retail space in downtown Greenville has become a must-visit destination for Upstate residents, with its relaxed atmosphere and high walkability making it seem more like a European small town. In addition to the Downtown commercial market, Greenville's multiple retail corridors include Woodruff Road, Haywood Road, Pelham Road and August Road. Retail development in the West End of Greenville is gaining momentum, thanks to the area's dense residential mix and nearness to major employment, government and entertainment facilities.

The industrial market in Greenville includes 80 million square feet of space and continues to see significant investment and demand. A $25 million warehouse and distribution hub will link Greenville and Upstate with Port Charleston. Flex industrial space also continues to be in demand, leading to a shortage of supply and an opportunity for development and growth.

Greenville, SC Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Greenville, SC Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Greenville, SC Commercial Inventory Breakdown

Office Spaces

Total: 7,619,177 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 2,204,985 SF / 28.94% of total office
  • 100k to 500k SF: 5,414,192 SF / 71.06% of total office

By class:

  • Class A: 5,223,265 SF / 68.55% of total office
  • Class B: 2,042,912 SF / 26.81% of total office
  • Class C: 103,000 SF / 1.35% of total office

Industrial

Total: 2,867,267 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 50k to 100k SF: 191,030 SF / 6.66% of total industrial
  • 100k to 500k SF: 1,615,237 SF / 56.33% of total industrial
  • 500k to 1M SF: 1,061,000 SF / 37% of total industrial

By class:

  • Class A: 1,113,694 SF / 38.84% of total industrial
  • Class B: 1,753,573 SF / 61.16% of total industrial

Employment in Greenville, SC

Employment

Greenville's strong work force, affordable wage structure and cost of living, excellent transportation infrastructure and ideal geographic position, in relation to all major markets in the Southeastern U.S., are some of the reasons why job growth continues to increase year after year.

The most common sectors of employment in Greenville are:

  • Educational services & healthcare;
  • Professional, scientific & technical services;
  • Administrative & waste management;
  • Manufacturing;
  • Retail, lodging and food service.

Companies with their international, North American, national or regional headquarters in Greenville include AMECO, the construction equipment company; Charter Communications, a broadband company; Fluor Corporation, for engineering, procurement and construction services; General Electric for engineering; Michelin North America; and SYNNEX for information technology.

The top five major employers in Greenville are:

  • the Greenville Health System with nearly 15,000 workers;
  • The School District of Greenville County with nearly 10,000 employees;
  • Bon Secours St. Francis Health System with over 5,000 workers;
  • Michelin North America with over 4,000 employees;
  • GE Power & Water with nearly 3,500 workers.

Education in Greenville, SC

The Greenville County School District is the largest in the state of South Carolina and has 50 elementary schools, 18 middle schools and 14 high schools within its district. Private and religious schools include St. Mary's Catholic, Camperdown Academy, Christ Church Episcopal School, and Southside Christian School.

Colleges and universities in Greenville include North Greenville University, Bob Jones University, Greenville Technical College, and the Clemson University campus in Greenville.

Commuting Time in Greenville, SC

Commute times in Greenville are at a relatively short 17 minutes, compared to the U.S. average of about 24.8 minutes. Public transit is handled by the Greenville Transit Authority that runs bus services under the name Greenlink.

Greenville is centrally located in relation to all markets in the Southeastern US., and is accessible by air, highway and railroad, and is only 200 miles from the Port of Charleston:

  • The I-85 corridor is an ultra-high-growth route, which links Atlanta, Georgia and Charlotte, North Carolina.;
  • Amtrak connects Greenville with New York, Philadelphia, Baltimore, Washington, D.C., Charlotte, Atlanta, Birmingham and New Orleans.;
  • CSX Transportation, Norfolk Southern Railway, and Carolina Piedmont Railroad all provide freight service to Greenville, SC.;
  • The Greenville-Spartanburg International Airport serves the Greenville area and is the second-busiest airport in the state of South Carolina. .

Greenville Demographics

Population

  • Total Population64,061
  • Male Population(48.5 %) 31,066
  • Female Population(51.5 %) 32,995
  • Median Age34.60

Income/Financial

  • Average Household Income$80,016
  • Median Household Income$48,984
  • Median Income Under 25$33,488
  • Median Income 25-44$56,407
  • Median Income 45-64$51,810
  • Median Income Over 65$34,141

News

$24 billion worth of assets changed hands in the top 50 biggest office deals to close in 2018. Google, Disney, Samsung mingled with established top CRE players. Check out the full list and read up on last year’s most notable U.S. office investments.

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