IOS Market Deep Dive: Greenville, SC

Greenville and the broader Upstate South Carolina region remain one of the Southeast’s most active industrial and service-oriented growth markets. Population inflows, expanding employment, and sustained public and private investment continue to reinforce demand across logistics, manufacturing support, construction, and fleet-based industries.

The Upstate functions as a critical Southeast logistics hub by integrating I-85, I-26, and I-385 with the Greer Inland Port, which provides direct rail access to the Port of Charleston.

TLDR

• Metro profile: Greenville and the broader Upstate continue to experience strong population and employment growth, supported by a diversified manufacturing base and a large concentration of small and mid-sized operators.

• IOS lease economics: IOS leases initiated during 2025 generally range from $3,000 to $4,000 per acre per month.

• Land values: Over the past two years, IOS land pricing has ranged from $200,000 to $800,000 per usable acre, with an average near $450,000 per acre.

• Demand drivers: I-85 and I-26 connectivity, the Greer Inland Port with direct rail access to the Port of Charleston, and major manufacturing operations continue to anchor IOS demand.

• Market outlook: Limited infill land near major corridors, zoning variation across municipalities, and entitlement friction are increasing competition for well-located IOS sites across the Upstate.

Market Overview

Greenville and the broader Upstate South Carolina region remain one of the Southeast’s most active industrial and service-oriented growth markets. Population inflows, expanding employment, and sustained public and private investment continue to reinforce demand across logistics, manufacturing support, construction, and fleet-based industries.

Industrial vacancy remains tight in core infill submarkets and along the I-85 corridor, even as new supply delivers farther from the urban core. The region benefits from a rare combination of interstate access, rail connectivity, inland port infrastructure, and proximity to major manufacturing operations. These fundamentals have positioned Greenville-Spartanburg as a long-term operating base for companies serving South Carolina, North Carolina, Georgia, and Tennessee.

The Upstate functions as a critical Southeast logistics hub by integrating I-85, I-26, and I-385 with the Greer Inland Port, which provides direct rail access to the Port of Charleston. This connectivity supports freight movement, just-in-time manufacturing, and service operations tied to automotive, industrial, and construction supply chains.

Recent industrial performance continues to support IOS demand. The Greenville-Spartanburg market recorded strong net absorption over the past year, with activity accelerating following election-related uncertainty and manufacturing showing renewed momentum. This level of industrial throughput translates directly into demand for outdoor storage sites that support staging, fleet parking, equipment storage, and service operations.

As growth continues, competition for functional IOS sites is increasing. Industrial land near major corridors is limited, zoning standards vary by jurisdiction, and entitlement timelines can be unpredictable. These constraints are expected to further tighten the IOS market over time.

Rising traffic volumes reinforce this trend. Many corridors across the Upstate have experienced meaningful increases in daily vehicle counts over the past several years, particularly along I-85, I-385, and major arterials. Higher traffic volumes increase the value of IOS sites with strong visibility, ingress, and proximity to highway access.

Greenville County has also emerged as the primary economic engine of the Upstate, contributing a disproportionate share of regional GDP growth. This concentration of economic activity further supports demand for service-based industrial uses clustered around the metro.

IOS Market Fundamentals

The Greenville IOS market has experienced sustained tenant and buyer demand, driven by limited availability of functional outdoor storage sites and consistent industrial activity. The combination of interstate connectivity, inland port rail access, major automotive manufacturing, and one of the fastest-growing populations in the Southeast continues to support long-term IOS demand.

Supply remains the primary constraint. Many tenants require immediate occupancy, shorter lease terms, or highly specific site configurations ranging from small yard-only parcels to full truck terminals. These requirements significantly narrow the pool of viable options, particularly in infill and I-85-adjacent locations.

Despite these constraints, demand remains durable across construction, utilities, equipment rental, automotive suppliers, and fleet-based operators. These users depend on outdoor storage as a core operational component rather than a discretionary expense.

Zoning friction, limited infill land, and development economics further restrict new supply. As a result, well-located IOS sites with strong access, security, and functional layouts continue to outperform. Less competitive assets, particularly those with poor access or zoning uncertainty, are experiencing longer downtime and increased pricing sensitivity.

Competitive Positioning and Long-Term Outlook

Greenville’s IOS landscape increasingly mirrors other high-growth Southeast markets that have entered a supply-constrained phase. Industrial expansion, population growth, and infrastructure investment continue to push demand forward, while zoning complexity and land scarcity limit the ability to deliver new IOS inventory at scale.

Sites located near I-85, I-26, the Greer Inland Port, and major manufacturing corridors are positioned to benefit most from these dynamics. As the Upstate continues to mature, scarcity-driven pricing and leasing behavior are expected to persist.

Bottom Line

Greenville and the broader Upstate remain one of the most compelling IOS markets in the Southeast. Strong population growth, manufacturing intensity, and multimodal infrastructure support durable demand, while limited infill land and zoning constraints restrict supply. For functional, well-located IOS assets, the market offers long-term value supported by structural fundamentals rather than short-term cycles.

Greenville, SC - IOS Pros to Know

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