What's Trending in Commercial Real Estate?

What's Trending in Spartanburg, SC ?

What's Trending in Office?

Affordability!

Transaction Volume

There have been 48 office sales in the last twelve months in Spartanburg as recorded by Costar. Costar rates the class of building from 1-5 stars (one being the lowest quality and five being the highest quality).

In the past 12 months, zero 5 star office buildings have traded. Twelve of the forty eight sales were 3 star buildings, and the remaining twenty six sales were 1 and 2 star buildings.

Vacancy

The trend for affordable office space is also evident by vacancy when broken down by star rating.

The overall office vacancy rate is 4.2%. Vacancy is the highest at 6% for 4 &5 star office buildings, and it is the lowest at 3.1% for 1 & 2 star buildings. 3 star building's vacancy is 5.3%.

Retail: Quick Trend Report

Multi Family: Quick Trend Report

Data Source: Costar



Industrial Growth Hotspots...Just Follow I-85

Map of Available Industrial and Flex Projects Proposed or Under Construction in Spartanburg County

1 I-85. The largest hotspot for new industrial inventory in Spartanburg County is along I-85. 3.9 million square feet is currently under construction, and the average size under construction is 439,000 square feet.

2 Moore-Duncan Hwy. 1,982,540 sq ft either proposed or under construction.

3 Hwy 101, Woodruff. 622,280 Square feet proposed or under construction.

Industrial Real Estate Fast Facts, Spartanburg SC

Vacancy

Overall Vacancy Rate 11.8%

Vacancy 50,000 sq ft or Less 4.2%

Vacancy 50,000 sq ft to 100,000 sq ft 5%

Vacancy 100,000 + sq ft 14.9%

Price

Average Price Per Square Foot (Lease) $6.26

Average Price Per Square Foot (Sale) $64

Data Source: Costar

Check Out Our Videos!

Let's Talk Sale-Leaseback!

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When should an owner consider a sale leaseback?

Let's Talk Absorption!

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What is gross absorption?

What is net absorption?

Why is understanding absorption important?

Let's Talk Development Sites

Looking for development sites in Spartanburg, SC? Check out these two options!

Market Data for Spartanburg, SC

What are the current market cap rates in Spartanburg, S.C.?

Source: Costar Data

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About McDaniel and Company

Our Mission

To conduct real estate transactions using excellent service, professional knowledge, and sound ethics to enrich the lives of our clients and to contribute to the economic growth and development of the Carolinas. 

Our Vision

To be the best commercial real estate brokerage in our market area.

Our Core Values

• Serving Clients’ Best Interest
• Integrity
• Professionalism
• Respecting Public’s Best Interest
• Commitment to Economic Growth

Want to discuss? Connect with us!

446 Oak Grove Road, Spartanburg, SC

McDaniel and Company is one of the Upstate region’s leading commercial, industrial, multi-family, and investment property firms. We deliver on all levels. Our reputation and years of experience are factors you can count on.