Greenville industrial market report
Vacancy remains low and strong demand over the last several quarters has resulted in a significant YOY lease rate increase.
The industrial market saw 0.10% of positive absorption as a share of inventory in Q4 2022.
The Upstate experienced 3.8% vacancy in the fourth quarter.
Industrial construction is exponentially increasing, with 22.6 msf of development activity this quarter.
Rental rates have increased by 12.5% in the market year over year.
The average industrial sale price psf increased by 3.2% from Q3 to Q4 2022.
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