Market Monday: Greenville, SC
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Summary:
Market Overview: Greenville and the broader Upstate continue to see strong population and employment growth, supported by a diversified manufacturing base, a large population of small and mid-sized operators, and steady public and private investment across the region. Industrial vacancy remains tight in core infill and I-85-adjacent submarkets, even as new supply delivers on the outskirts. As the region evolves, limited infill land near major corridors, fragmented zoning across municipalities, and entitlement complexity are expected to intensify competition for well-located IOS sites, reinforcing the Upstate’s role as a critical Southeast logistics and service hub.
The IOS Opportunity: Lease rates initiated in 2025 generally range from approximately $3K to $4K per acre per month. Over the past two years, price per usable acre range from $200k-$800k and average around $450k.
Market Fundamentals: The Upstate’s industrial ecosystem is anchored by extensive multimodal connectivity — I-85, I-26, I-385, Highway 101, regional rail networks, the Greer Inland Port with direct access to the Port of Charleston, and proximity to major manufacturing corridors — supporting freight, construction, utilities, automotive suppliers, equipment rental, and service-sector users that depend on outdoor storage. Ongoing public and private investment in inland port expansion, highway infrastructure, and industrial development continues to reinforce long-term IOS demand.
Local Brokers & Market Experts: Scroll to the bottom for a list of active IOS listings and experts shaping the Greenville market — special thanks to the Lee & Associates Team for participating!
Active Listings: See below for the latest Greenville listings!
If you want to participate in a future Market Monday, email [email protected]
MARKET OVERVIEW
Greenville
The Upstate, South Carolina IOS market experienced sustained tenant and buyer demand throughout 2025, driven by limited availability of functional outdoor storage sites and steady industrial activity. Supported by I-85 and I-26 connectivity, the Greer Inland Port’s direct rail access to the Port of Charleston, BMW’s largest global manufacturing facility, and one of the fastest-growing populations in the Southeast, the region’s fundamentals continue to support long-term IOS demand.
The Upstate functions as a critical logistics and service hub in the Southeast by combining major interstate corridors (I-85, I-26, I-385), rail connectivity through the Greer Inland Port, proximity to the Port of Charleston, and strong manufacturing and automotive supply chains. This network supports freight and service activity across South Carolina, North Carolina, Georgia, and Tennessee, positioning Greenville-Spartanburg as a regional base for construction, fleet, manufacturing support, and service operators.
Recent industrial momentum is reinforcing IOS demand. In Q2 2025 alone, the Greenville–Spartanburg industrial market recorded more than 5.06M SF of 12-month net absorption, with activity accelerating after the election and manufacturing showing a clear uptick.1
As the region grows, competition for well-located IOS sites is increasing. Industrial development pressure, limited infill land near major corridors, and zoning constraints across multiple jurisdictions are expected to intensify demand for functional IOS properties with strong access and security.
Recent traffic data further supports growing IOS demand across the Upstate. Between 2018 and 2024, many corridors across the Greenville–Spartanburg region saw 10–20%+ increases in average daily trips, particularly along I-85, I-385, and key arterial routes. Rising traffic volumes reinforce the importance of well-located IOS sites with strong ingress, visibility, and highway access for service, fleet, and distribution users.2
Greenville County has also driven a disproportionate share of the Upstate’s GDP growth over the past two decades. While the broader Upstate has grown steadily, Greenville’s economic output has accelerated more sharply, reinforcing its role as the primary economic engine of the region.
IOS OVERVIEW
Greenville IOS Opportunity
Andrew Harrill, CCIM, notes that “the Upstate IOS market has seen sustained tenant and buyer demand, driven by limited availability of functional outdoor storage sites and steady industrial activity. Supported by I-85 and I-26 connectivity, the Greer Inland Port’s direct rail access to the Port of Charleston, BMW’s largest global manufacturing facility, and one of the fastest-growing populations in the Southeast, the region’s fundamentals continue to support long-term IOS demand.”
Harrill adds that “one of the biggest challenges in the Upstate IOS market is limited supply, especially for tenants needing immediate occupancy or shorter lease terms. This is compounded by highly specific tenant needs — from smaller yard-only sites to full truck terminals — leaving few functional options across IOS subtypes.”
Long-term IOS fundamentals in Greenville and the Upstate remain strong. Durable demand from construction, utilities, equipment rental, automotive suppliers, and fleet-based operators continues to support the sector, while zoning friction, limited infill land, and development economics constrain future supply. As a result, well-located, functional IOS sites with strong access, security, and operational layouts continue to outperform, even as less competitive assets face longer downtime and pricing pressure.
FEATURED LISTINGS
Greenville
Lee & Associates
Please reach out to Andrew Harrill, Jordan Skellie, and Payton Drake for more information on the below.
1341 S Danzler Road | For Lease
Modern truck service and outdoor storage facility for lease at 1341 S Danzler Road in Duncan, South Carolina. The property features a ±12,000 SF warehouse with approximately ±500 SF of spec office and ±11,500 SF of warehouse space, situated on a ±3.9-acre fully fenced laydown yard. The site includes strong logistics functionality with two dock doors, direct access to I-85, and excellent I-85 visibility. Designed for fleet operations, truck maintenance, contractors, and outdoor storage users needing scale, security, and highway access.
Lease Rate: Call for Pricing
122 Pride Drive | For Lease
122 Pride Drive in Simpsonville, SC is a multi-building industrial and outdoor storage site on approximately ±8.5 usable acres, ideal for contractors, fleet, service, and yard users. The property features drive-thru bays, multiple drive-in and dock doors, heavy power, and an expansive laydown yard with renovations underway including new lighting, roof, and office upgrades. It is zoned for industrial outdoor storage and offers strong access to I-385, just ±1.7 miles away.
4613 Dairy Drive | For Lease
4613 Dairy Drive in Greenville, SC is a ±17,100 SF industrial facility on ±2.5 acres of asphalt yard, ideal for truck service, equipment rental, construction supply, and outdoor storage users. The property features four drive-thru bays, twelve drive-in doors (14’ x 14’), heavy power, and charging stations in the laydown yard, with recent renovations including a new roof, interior upgrades, lighting, and fencing. It offers direct access to I-85 and is zoned for industrial outdoor storage (IG in the City of Greenville).
153 Fortis Drive | For Lease
153 Fortis Drive in Duncan, SC is a ±4.12-acre industrial outdoor storage yard available for lease at $4,000 per acre per month. The site is fully fenced and graveled, features outdoor lighting and utility hookups for a modular office, and is positioned between Highway 290 and Highway 101. It is located in Spartanburg County just ±2.6 miles from I-85 and ±2.8 miles from BMW, offering strong regional access for yard and service users.
7915 Valley Falls Road | For Lease
Valley Falls IOS at 7915 Valley Falls Road in Spartanburg, SC is a ±1–15 acre industrial outdoor storage site with graveled yards available for lease. The property offers two access points, electric gate and outdoor lighting, an existing ±3,300 SF warehouse with build-to-suit availability, and utility hookups for modular office. It is well suited for truck service, equipment rental, construction supply, and other yard-intensive users.
LOCAL EXPERTS
Local Brokers & Market Experts
Big thanks to all participants who helped shape this week’s Market Monday in Greenville. If you’re looking to buy, sell or lease in Greenville, the people below are the ones to call!
Lee & Associates
Andrew Harrill, CCIM
Senior Vice President
C: 864.607.7223
[email protected]
Jordan Skellie, SIOR
Executive Vice President / Principal
C: 864.238.2188
[email protected]
Payton Drake
Research Associate
C: 404.971.3110
[email protected]
SOURCES & REFERENCES
IOS Resources
Check Out Our Free IOS Underwriting Model Tool
Have active IOS listings? Send to [email protected]
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Disclaimer: The authors of IOS YardDogs are not finance or tax experts. We love big yards, small buildings. This email is for educational uses and is not financial / investment advice. Please conduct independent research and consult with industry professionals before making financial or investment decisions. Our content, which may contain affiliate links, is subjective and not to be used as the only basis for such decisions. We are not responsible for any losses from relying on this information.