Charleston office market report

Q2 2022

While vacancy rates decreased, net absorption saw a 120K sf increase in Q2 2022, which could be the result of employees returning to the office in Charleston.

350k sf

Inventory

353,032 sf of office space is under development in the Charleston market, with 74% of the new construction concentrated in Trophy buildings.

156K sf

Net absorption

Net absorption has seen an increase in Q2 2022, with Downtown Charleston and North Charleston seeing most of the positive absorption.

 $28.47 psf 

Direct asking rent

Charleston offices are demanding about $28 psf, with the most expensive asking rents in the Downtown Charleston submarket.

1.4M sf

Availabilities

Total space available in Q2 2022 has seen a decrease since the previous quarter.

12%

Vacancy

Office vacancy is trending downwards as a result of strong leasing activity.

$130M psf

Investment sales

Sales volume and price psf have risen from previous quarters.

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Get in-depth office market reports and insights from commercial real estate experts in the Greater Charleston area. Avison Young advisors look at Charleston commercial real estate activities and the latest Charleston statistics to provide you expert market research on Charleston's office properties.

Explore different topics like the latest office market pricing trends and analysis of Charleston's current office real estate market conditions. Gain a better understanding of Charleston’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Charleston's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Charleston.

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