Charleston Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $34.59 2024 Avg. Asking Rent
  • 1.24% Y-o-Y Avg. Asking Rent Change
  • 17.45% 2024 Office Vacancy Rate

Charleston office price per square foot in 2024 was $34.59 on average. This marked a +1.24% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 17.45% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Charleston Class A & A+ Office Space$33.68
  • Charleston Class B Office Space$36.91
  • Charleston Class C Office Space$29.60
  • South Carolina Class A & A+ Office Space$31.11
  • South Carolina Class B Office Space$22.46
  • South Carolina Class C Office Space$17.44

Charleston, SC Office Asking Rents by Class

Average office rent in Charleston rested at $34.59 per square foot in 2024. As would be expected, office rent price showed some variation from one asset class to another. As such, the asking rent for class A office space in Charleston averaged $33.68 per square foot. Across all submarkets, class B office space recorded an average asking rent of $36.91 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $29.60 per square foot, on average. Comparably, statewide South Carolina average office rents by class in 2024 were: $31.11 per square foot for class A office space; $22.46 per square foot for class B office space; $17.44 per square foot for class C office space.

2024 Office Vacancy Rates in Charleston

Submarket Asking Rents Vacancy Rates
Charleston - Downtown $40.41 10.30%
Charleston - Northeast $35.78 48.54%
Charleston - North Central $33.22 29.20%
Charleston - West $30.56 11.09%
Mount Pleasant $29.28 5.37%
North Charleston $25.04 19.74%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Charleston market was 17.45% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Charleston was 5.37% in the Mount Pleasant submarket, while the highest office vacancy in the market was 48.54%, recorded in Charleston - Northeast.

Office Spaces for Rent in South Carolina

Coworking Spaces in South Carolina

2024 Office Construction in Charleston, SC

Largest Office Properties Recently Completed in Charleston
Office building Address SF Completed
Morrison Yard - 850 Morrison Drive 850 Morrison Drive, 29403 146,588 2022
The Quin 1940 Algonquin Road, 29405 128,221 2021
677 King Street 677 King Street, 29403 85,362 2021
1640 Meeting Street 1640 Meeting Street, 29405 45,000 2020
83 Mary St 83 Mary St, 29403 8,317 2019
215 Benefitfocus Way 215 Benefitfocus Way, 29492 145,800 2015
1 Central Island Plaza 115 Central Island St, 29492 73,027 2015
174 Meeting Street 174 Meeting Street, 29401 52,000 2014
174 Meeting St 174 Meeting St, 29401 15,545 2014
Daniel Island Executive Center 125 Fairchild Street, 29492 78,394 2008

Worth noting among recent office completions on the Charleston market is Morrison Yard - 850 Morrison Drive, which is currently the largest new office development in the city, at 146,588 square feet.

Data provided by Yardi Research

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Charleston commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.