With industrial development and user demand growth in Upstate South Carolina, Stream Realty Partners has expanded its reach into the Greenville-Spartanburg market.
Stream Vice President Rob Williams has moved from Atlanta to Greenville to tap into the region’s growing industrial market. Williams’ industrial expertise includes leasing, tenant representation, acquisitions, and dispositions of manufacturing, distribution, and industrial/outdoor storage assets for owners and occupiers. He has managed assignments in Stream markets across the United States during his nearly 4.5 years with the national commercial real estate firm that offers an integrated platform of services.
“We are extremely excited to have Rob lead Stream Carolinas expansion into the Greenville-Spartanburg market,” Farrar said. “Rob’s experience, skillset, and approach, coupled with the market dynamics in GSP, are going to create tremendous opportunities for Stream and our clients.”
Strategically located between the growing industrial markets of Atlanta and Charlotte, Greenville-Spartanburg boasts business-friendly policies and lower operating costs, amplified by access to Interstate 85, the Port of Charleston via the Greer Inland Port, and a highly skilled workforce. Since 2018, more than 30 million square feet of newly constructed industrial space have been delivered, with 14.5 million square feet currently under construction.
In the last 12 months, an average of 3.4 million square feet of industrial space has been delivered per quarter, with a net absorption of 2 million square feet per quarter. Rent growth also continues to outpace historical norms and the U.S. average at 11.8%. The average industrial vacancy rate for the area is 6%.
“The industrial boom taking place in Greenville-Spartanburg has coincided with an increase in population of more than 15% over the past decade,” Williams said. “We are excited to grow Stream’s footprint across the Carolinas as the region continues to solidify itself as a major logistical and manufacturing hub in the Southeast.”