2023 Office Space Rent & Sales
- $24.34 2023 Avg. Asking Rent
- -0.55% Y-o-Y Avg. Asking Rent Change
- 23.09% 2023 Office Vacancy Rate
- $42.9M2023 Total Office Sales
- $82.33Avg. Sale Price/SF
Greenville office price per square foot in 2023 was $24.34 on average. This marked a -0.55% change in office space price per square foot compared to the previous year. The local office market recorded an average vacancy rate of 23.09% across all asset classes combined. The 5 transactions that closed here throughout 2023 amounted to a total sale volume of $42.9M. Greenville office space commanded an average sale price per square foot of $82.33.
Average Rent by Office Class
2023 Average Office Rent per Square Foot
- Greenville Class A & A+ Office Space$27.31
- Greenville Class B Office Space$22.97
- Greenville Class C Office Space$16.06
- South Carolina Class A & A+ Office Space$29.25
- South Carolina Class B Office Space$23.44
- South Carolina Class C Office Space$25.64
Greenville, SC Office Asking Rents by Class
Average office rent in Greenville rested at $24.34 per square foot in 2023. 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 $27.31 per square foot. Across all submarkets, class B office space recorded an average asking rent of $22.97 per square foot. Meanwhile, assets encompassing class C office space saw asking rents of $16.06 per square foot, on average. Comparably, statewide South Carolina average office rents by class in 2023 were: $29.25 per square foot for class A office space; $23.44 per square foot for class B office space; $25.64 per square foot for class C office space.
2023 Office Vacancy Rates in Greenville
Submarket | Asking Rents | Vacancy Rates |
---|---|---|
Greenville - West | $31.46 | 18.68% |
Greenville - Central Business District | $26.54 | 28.33% |
Greenville - I-385 South | $24.42 | 33.95% |
Greenville - Haywood | $24.00 | 8.53% |
Greenville - I-385 North | $23.77 | 18.75% |
Greenville - Airport | $19.83 | 28.21% |
Greenville - East Park Avenue | $19.00 | 13.31% |
Greer | $18.48 | 3.32% |
Greenville Office Sale Price per SF
- $82.332023 Avg. Price per SF
- -45.67%Y-o-Y Avg. PpSF Change
- $42.9M2023 Office Sales Volume
- 52023 Number of Transactions
Greenville, SC Sale Price per SF Trend
- Greenville Avg. Sale Price per SF in 2023$82.33
- South Carolina Avg. Sale Price per SF in 2023$106.87
2023 Office Sales Volume
- Greenville, SC Total Office Sales Volume in 2023 $42.9M
- Greenville, SC Total Number of Office Sales Closed in 2023 5
Coworking Spaces in South Carolina
- Atlanta Coworking Space
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- Richmond Coworking Space
- Chattanooga Coworking Space
2023 Office Construction in Greenville, SC
- Greenville, SC Total SF under construction in 2024 320,500
Office building | Address | SF | Completed |
---|---|---|---|
135 Halton Village Circle | 135 Halton Village Circle, 29607 | 7,324 | 2019 |
135 Halton Village Circle | 135 Halton Village Circle, 29607 | 7,324 | 2019 |
110 East Court Street | 110 East Court Street, 29601 | 125,000 | 2017 |
The Field House at West End | 935 S Main St, 29601 | 265,860 | 2006 |
225 Halton Road | 225 Halton Rd., 29607 | 7,200 | 2006 |
Bonaventure II | 124 Verdae Boulevard, 29607 | 101,295 | 2002 |
11 Brendan Way | 11 Brendan Way, 29615 | 39,504 | 2001 |
Office Park Patewood - VI | 10 Patewood Drive, 29615 | 107,274 | 2000 |
St. Francis Medical Plaza | 131 Commonwealth Drive, 29615 | 62,724 | 2000 |
Poe West | 556 Perry Avenue, 29611 | 66,597 | 1997 |
Worth noting among recent office completions on the Greenville market is 135 Halton Village Circle, which is currently the largest new office development in the city, at 7,324 square feet.
See reports for other markets
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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 2023 through December 31st 2023. Construction pipeline data represented herein is valid as of April 2024. The information on this page was compiled using data provided by CommercialEdge, 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 CommercialEdge can guarantee that the information provided is complete.