Charleston office market report

Q4 2022

The Charleston office market seems to be entering a recovery phase, with decreasing vacancies and significant construction activity. Job growth continues in the market, especially for professional and business services. 

326k sf


The Charleston office market experienced 326k sf of positive absorption in Q4 2022 – a 452k sf increase from the previous quarter.


The total vacancy rate fell to 9.2% this quarter, which is 70 basis points lower than the previous quarter.

Asking rent

Office average asking rents increased by 8.2% from Q4 2021 to Q4 2022.
165k sf


Deliveries to the market in Q4 2022 totaled 165k sf, compared to no deliveries in Q3 2022.


Unemployment in the Charleston market has plummeted to 2.2%, with around 400k employees in the market.

Professional & business services growth

Charleston’s professional and business services have experienced a 14.8% increase in employment over the past 12 months.
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