Greenville office market report

Q3 2022

High end assets in central business districts and along main corridors are achieving considerable rent premiums compared to the rest of the inventory.

21.5 msf

Inventory

Inventory has remained at a standstill but is expected to increase as proposed projects begin construction.
-102k sf

Net absorption

Although the Greenville/Spartanburg market is experiencing negative absorption, the Greenville CBD submarket experienced nearly 14K sf of positive absorption in Q3.
$23.13

Direct asking rent

Asking rents in Q3 2022 have increased by 15% from the previous quarter, to $23.13 psf.
2.5 msf

Availabilities

Total space available has seen a significant increase from the previous quarter, with 56% more available space than Q2.
10.6%

Vacancy

Upstate office vacancy increased by 250 basis points since last quarter.
$10.9M

Investment sales

Investment sales have significantly decreased in Q3 as banks tighten their lending standards.
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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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