Greenville office market reports

4Q21 highlights and trends

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The Greenville office market witnessed an active year in 2021. A significant decline in the unemployment rate from the high level recorded during the pandemic, led to strong leasing activity in the market to end the year with positive absorption. Average asking rental rates saw an increase as well, reaching a record high at the end of the year. Leasing and investment sales activity is anticipated to increase in 2022 as companies finalize their RTO options and investors renew their interest in the market.

2.8%

Economic conditions

The current unemployment rate in the Greenville-Spartanburg-Anderson combined statistical area.

62.2%

Recovery rate

People over the age of 18 that are fully vaccinated in Greenville.

728k sf

Office demand

Total office leasing activity in Greenville for 2021.

10.2%

Office supply

The overall office vacancy rate at the end of 2021.

$23 psf

Pricing trends

Record high average asking rental rate. Rates increased 1.8% from the end of 2020.

$71.5M

Capital markets

Total investment sales volume in 2021, far surpassing the $44.4M recorded in 2020.

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Your source for the latest Greenville office market reports

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

Explore different topics like the latest office market pricing trends and analysis of Greenville's current office real estate market conditions. Gain a better understanding of Greenville’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 Greenville's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Greenville.

The dashboard was delivered through AVANT by Avison Young: leveraging real-time data and analytics to make cities and location-based decisions more transparent and efficient. Learn more about AVANT.

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