Q2 2025 Market Reports
Industrial
Industrial demand has remained stable in the Upstate heading into the second half of 2025. As supply subsides and new deliveries slow, that has helped bring availability rates down, with a particularly noticeable drop in large-box availabilities. Large leases underscored the market’s reliance on the automotive industry. Major relocations, such as Izuzu’s 1 million SF move in at Enterprise 85, Drive Automotive’s 625,161-SF move in at Augusta Grove in Fountain Inn, and Yanfeng Automotive’s 201,000-SF lease also in Fountain Inn, helped stabilize the market after moveouts from challenged electric bus-maker Proterra, which vacated 210,000 SF on Whitlee Court, and a general pullback in demand from logistics providers.
READ FULL INDUSTRIAL REPORT HERE
Office
The Upstate has experienced robust job and population growth since 2020, consistent with many Southeast tertiary markets, with total payroll jobs increasing by over 12% in the last five years. This growth has maintained the office availability rate at 8.8%, below the national average. Despite broader shifts in office utilization and a slowdown in office-using hiring, several large leases through Q1 2025 stabilized absorption.
Retail
Upstate SC, a growing Sun Belt region characterized by a robust job market and comparatively affordable housing, has experienced significant population growth, subsequently driving increased demand for retail space. Annual leasing volume, at approximately 1.3 million square feet, aligns with pre-pandemic trends, notably supported by experiential brands actively backfilling vacated big-box spaces.
