Greenville’s office space is shifting toward tenant control

Available shell space has climbed from a modest 4–6% pre-2023 to over 10% today, signaling a developer shift: more landlords are offering raw, unbuilt space, giving tenants rare access to shape environments around their brand identity, operational needs, and long-term vision.
From 2Q20 to 3Q20, full build-out space plummeted 11.5 percentage points—the steepest single-quarter drop on record—while partial build-out surged 14.2 percentage points, the largest increase to date. This dramatic shift was likely driven by a pandemic-era reset, as tenants renegotiated leases and landlords paused capital-heavy construction.
Given its historical volatility, partial build-out space is poised to remain the most reactive category—adjusting with shifts in tenant demand, capital pressure, and macro uncertainty—while spec suite space stays tightly capped below 2%, reinforcing its role as a niche, high-scarcity offering.

August 27, 2025

US-SC-GSP Greenville