Colliers Report: Migration trends will benefit the Greenville-Spartanburg office market
2021 Q1 Office Greenville-Spartanburg Report
The trend of people moving from large metros to smaller cities will benefit the Greenville-Spartanburg market
Large blocks of office space afford tenants several options; many office availabilities are plug-and-play suites
Inbound migration has been popular for many years; however, during 2020, the pandemic further accelerated momentum from larger metro areas into smaller markets such as Greenville and Spartanburg. There are several reasons for this trend including the ability to commute to work by automobile, the opportunity to take advantage of outdoors for personal time or flexible workspace, and more open space because of lower density.
A Note Regarding COVID-19
As we publish this report, the U.S. and the world at large are facing a tremendous challenge, the scale of which is unprecedented in recent history. The spread of the novel coronavirus (COVID-19) is significantly altering day-to-day life, impacting society, the economy and, by extension, commercial real estate.
The extent, length and severity of this pandemic is unknown and continues to evolve at a rapid pace. The scale of the impact and its timing varies between locations. To better understand trends and emerging adjustments, please subscribe to Colliers’ COVID-19 Knowledge Leader page for resources and recent updates.