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.

19.8 msf

Inventory

Construction activity is at a standstill, but decreased availability could encourage developers to break ground on new speculative buildings.

-75.3K sf

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.

$20.03 psf

Direct asking rent

Asking rents in Q2 2022 have slightly decreased from the previous quarter.

 1.6M sf

Availabilities

Total space available in Q2 2022 has seen a slight increase, with 58% more available sublet space from the previous quarter.

8.1%

Vacancy

There has been a significant decrease in the overall vacancy rate, 280 basis points, year-over-year.

$228 psf

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.

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.

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