Greenville office market report
Q2 2022
Sales prices in the Greenville/Spartanburg office market have begun to flatten as buyers adapt to the new interest rate environment.
Inventory
Construction activity is at a standstill, but decreased availability could encourage developers to break ground on new speculative buildings.
Net absorption
The Greenville office market has seen negative absorption for the first time in three quarters. However, the Spartanburg area has seen nearly 40K sf of positive absorption this quarter.
Direct asking rent
Asking rents in Q2 2022 have slightly decreased from the previous quarter.
Availabilities
Total space available in Q2 2022 has seen a slight increase, with 58% more available sublet space from the previous quarter.
Vacancy
There has been a significant decrease in the overall vacancy rate, 280 basis points, year-over-year.
Investment sales
Price psf has been pushed upwards from previous quarters, while sales volume has slightly decreased.
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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.
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