Greenville office market reports
2Q21 highlights and trends
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Total vacancy in Greenville is at an eight-year high, totaling 12.1%, Greenville sets to benefit from manufacturing and technology companies expanding into the region. Current Greenville asking rents sit at $22.00 psf, which is an increased rate from what was asked in 2019.
Economic conditions
Unemployment rate in Greenville, down 780 bps from the height of the pandemic.
Recovery rate
South Carolina Department of Health and Environmental Control's rate of recovery for the state, with leisure and hospitality and education and health services seeing the highest percentage of job gains since April 2021. Greenville is now reporting less than 110 new COVID-19 cases per week.
Office demand
Leasing activity for Greenville totals just under half of the total activity recorded in 2020.
Office supply
Total amount of vacant sublease space (in square feet) on the market in Greenville, comprising 13.0% of total vacant space. This is a 5.5% increase in the share of sublease space to vacant space on the market.
Pricing trends
Current asking rent for Greenville offices, seeing a slight decrease from asking rents of $22.07 in 2020.
Capital markets
Total office investment volume (in millions) in Greenville for the period from Jan 2020 through Jun 2021. For 2021, the total investment volume sits at $5.8M.
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.
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