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Affordability:
Spartanburg ranks the second least expensive market in terms of sales price per square foot. Spartanburg is 41.7% less expense than Savannah and 35% less expensive than the Charleston industrial market.
Spartanburg is the least expensive in leasing price per square foot. In fact, Spartanburg is about 38% cheaper than Charleston (the most expensive lease rate analyzed).
Vacancy and Cap Rates:
The negative about the Spartanburg market is that it ranks highest in vacancy at 14.3%.
Spartanburg’s industrial cap rank also ranks the highest.
While higher cap rates typically indicate a softer demand, Spartanburg looks attractive compared to Charleston and Savannah; both of these markets have a relatively high vacancy with significantly lower cap rates.
Let's Connect
If you’d like to discuss your industrial real estate needs, let’s connect!
Emma McDaniel
864-580-1131
emma@mcdanielanco.com
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