MARKET HIGHLIGHTS //

GREENVILLE SC STRONG INDUSTRY

The Greenville, Spartanburg, Anderson and Mauldin MSA region is the state’s fastest growing region accelerated by a diverse economic growth in industrial, education, health care, and blue-chip commerce. From walking the Swamp Rabbit Trail to camping in the Smoky Mountains to working at one of the manufacturing juggernauts, Greenville has the warm southern charm without the big-city headaches.

MULTIFAMILY SNAPSHOT

The multifamily rental apartment market is tight as of the third quarter of 2017 at 4.7%. The average MSA rent is $797 with a year over year increase of 2.7%. There was an increase of new construction units in 2015 and 2016 of 4,000 units; however, new permits has tapered. Current 1980’s to early 2000’s inventory presents a significant value-add upside to meet market demands.

COMPETITIVE & PRO BUSINESS

Greenville has a low cost of living ranked 4.7% lower than the U.S. average.

Is a right to work state

Pro-Business environment offering incentives to companies such as reduced state property taxes, local income taxes and no sales tax on certain equipment.

ECONOMIC MAP //

MARKET HIGHLIGHTS

INLAND PORT

“SC Ports Authority facilities in Charleston, Dillon, Georgetown, and Greer drive $53 billion in annual statewide economic impact. Inland Port Greer is an innovative new breed of rail-served inland port facility. Essentially, it is a marine terminal 212 miles inland, owned and operated by the South Carolina Ports Authority. Inland Port Greer gives unprecedented flexibility and control, which works for manufacturers running tight production lines and retailers in need of velocity and reliability in their supply chain.”

85/385 GATEWAY INFRASTRUCTURE

“85/385 Gateway project will improve safety for the traveling public, provide a financial boost to the local economy, and increase the capacity of this interchange so it may function more efficiently for many years to come. This work is expected to be a premiere engineering achievement resulting in a signature infrastructure project that will make a positive difference to all of those who travel the Upstate.”

DOWNTOWN INVESTMENTS

A $1.1 billion plan to redevelop 37 acres in downtown Greenville currently owed by the country and were local government business has been conducted for more than 30 years. To replace existing government functions, a new $60 million, 250,000 square feet County Square will be design by world renowed Foster & Partners architect. The other land will be transformed into a walkable, commercial and residential community giving a new face for Greenville’s future.

BMW PLANT 10

Opening in 1994, the German manufacture BMW took the adventurous risk to build a manufacturing plant in a small town in Greer, South Carolina. Since then, it has grown to 1200 acers, 8 million square feet, and produces 1,900 per day. Currently, the X-SUVs are only made in the United States where 70% are shipped around the world with some assembled in foreign markets. Most of BMW’s supplies have relocated to be closer to the plant bringing thousands of economic vitality to the city.

GREENVILLE/PRISMA HEALTH NETWORK

Prisma Health is a private, non-for-profit entity first opening it’s doors in 1912. Greenville health network is extensive. It has 15,000 employees 1,765 beds, and a residency fellowship program providing training for over 400 physicians, nursing, and other students yearly. Greenville Memorial Hospital is a 24 hour Level 1 trauma center, children’s hospital, and pediatric ICU, and neonatal ICU. It has recently partnership with South Carolina School of Medicine Greenville and Clemson University School of Nursing.

MILLENNIUM CAMPUS

Greenville MSA is not all industrial. Millennium Campus is a 350 acre collaboration based corporate environment bridging industry and academics. The center of the campus is Clemason University and BMW partnership called CU-ICAR. Other companies are TD Bank Headquarters, Hubble Lighting, Bon Secours Health System, Center for Manufacturing Innovation, and other companies.