Greenville Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $24.30 2024 Avg. Asking Rent
  • 2.00% Y-o-Y Avg. Asking Rent Change
  • 20.51% 2024 Office Vacancy Rate
  • $55.4M2024 Total Office Sales
  • $142.15Avg. Sale Price/SF

Greenville office price per square foot in 2024 was $24.30 on average. This marked a +2.00% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 20.51% across all asset classes combined. The 4 transactions that closed here throughout 2024 amounted to a total sale volume of $55.4M. Greenville office space commanded an average sale price per square foot of $142.15.

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

  • Greenville Class A & A+ Office Space$29.24
  • Greenville Class B Office Space$21.88
  • Greenville Class C Office Space$16.10
  • 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

Greenville, SC Office Asking Rents by Class

Average office rent in Greenville rested at $24.30 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 Greenville averaged $29.24 per square foot. Across all submarkets, class B office space recorded an average asking rent of $21.88 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $16.10 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 Greenville

Submarket Asking Rents Vacancy Rates
Greenville - Central Business District $33.57 13.51%
Greenville - West $27.42 15.09%
Greenville - I-385 North $25.39 19.72%
Greenville - I-385 South $20.47 41.31%
Greenville - Airport $19.81 28.40%
Greer $15.01 2.87%
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 Greenville market was 20.51% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Greenville was 2.87% in the Greer submarket, while the highest office vacancy in the market was 41.31%, recorded in Greenville - I-385 South.

Office Spaces for Rent in South Carolina

Greenville Office Sale Price per SF

  • $142.152024 Avg. Price per SF
  • $55.4M2024 Office Sales Volume
  • 42024 Number of Transactions

Greenville, SC Sale Price per SF Trend

  • Greenville Avg. Sale Price per SF in 2024$142.15
  • South Carolina Avg. Sale Price per SF in 2024$84.60
The sale price for office space in Greenville averaged $142.15 per square foot in 2024, across all market subdivisions and asset classes. Conversely, the statewide South Carolina average office sale price during the same time period was $84.60 per square foot.

2024 Office Sales Volume

  • Greenville, SC Total Office Sales Volume in 2024 $55.4M
  • Greenville, SC Total Number of Office Sales Closed in 2024 4
A total of 4 deals closed on the Greenville office market in 2024, adding up to a yearly sales volume of $55.4M. Notably, the largest transaction on the market saw Falls Park on the Reedy - 55 East Camperdown Way change hands for $31,250,000 on 12/27/2024.
Data provided by Yardi Research

Coworking Spaces in South Carolina

2024 Office Construction in Greenville, SC

  • Greenville, SC Total SF completed in 2024 101,416

During 2024, 101,416 square feet of new office space were delivered across the market. At the close of 2024, the Greenville office inventory included 1 buildings equal to or larger than 25,000 square feet, which comprised 101,416 square feet of office space.

Largest Office Properties Recently Completed in Greenville
Office building Address SF Completed
Falls Tower 355 South Main Street, 29601 224,300 2021
110 East Court Street 110 East Court Street, 29601 125,000 2017
Main @ Broad 40 West Broad Street, 29601 65,000 2010
Hubbell Lighting Headquarters 701 Millennium Blvd, 29607 185,000 2007
701 Millenium Blvd 701 Millenium Blvd, 29607 184,789 2007
200 East Broad Street 200 East Broad Street, 29601 108,000 2002
11 Brendan Way 11 Brendan Way, 29615 39,504 2001
Office Park Patewood - VI 10 Patewood Drive, 29615 107,274 2000
20 Mayfield St 20 Mayfield Street, 29601 4,076 1998
Poe West 556 Perry Avenue, 29611 66,597 1997

Worth noting among recent office completions on the Greenville market is Falls Tower, which is currently the largest new office development in the city, at 224,300 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 Greenville 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.