Q1 2025 | CHARLESTON, SC
CHARLESTON OFFICE MARKET REPORT
Q1 MARKET SNAPSHOT
Q1 HIGHLIGHTS & TRENDS
15,635,554 SF
• VACANCY RATES ARE NEARING SINGLE DIGITS AND RENTAL RATES CONTINUE TO INCREASE.
11.1%
• NET ABSORPTION IS POSITIVE FOR THE FIRST QUARTER.
Inventory
Vacancy
$30.14 SF
Asking Rents
• WITH A LIMITED DEVELOPMENT PIPELINE, CHARLESTON’S OFFICE MARKET NEEDS NEW BUILDINGS TO CONTINUE TO GROW.
93,575 SF
Construction
• DESPITE CHARLESTON’S OFFICE MARKET STRENGTH, THE MARKET REMAINS AFFECTED BY THE BROADER, NATIONAL OFFICE MARKET SKEPTICISM AND CAPITAL CONSTRAINTS, WHICH IS PENALIZING VALUES.
10,000 SF
• LEASING ACTIVITY IS BUILDING WITH MANY TENANTS RELOCATING WITHIN CHARLESTON.
YTD Deliveries
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