By John Jeter
Opportunity, opportunity, opportunity
appears to be the hot new commercial real estate catchphrase these days, especially with a new-money rush into the Central Business Districts of Greenville and Columbia. In both cities, vacancies are falling and lease rates are rising along with interest from a fast-growing pool of investors.
“People start going with the best product in the most vibrant markets,” Ron Anderson, vice president of administration at Colliers International, says of investors snatching up office towers in Greenville and under-developed mixed-use blocks in Columbia. “They really started pouring into Greenville and Columbia—in Columbia a little bit earlier, in the last 18 months.”
Echoing a 2016 Colliers report—“Rising asking rental rates and occupancy rates in the Greenville market are expected to promote further investment sale activity from out-of-market investors over the coming quarters”—the Columbia-based Anderson adds:
“We’re starting to see a lot of national investors who are coming into these markets. They’ve gotten the cream off the top of the milk in the bigger markets, and they’re working toward the smaller markets.”
Earle Furman, chairman of