4Q24: Charleston MSA Office Snapshot

Over the past 12 months, the region has absorbed ±373,339 square feet of space, demonstrating strong demand and a positive outlook for the local economy. The increase in average rental rate reflects Charleston’s position as a competitive market within the Southeast. The overall office market has experienced challenges, with rising vacancy rates and shifts toward hybrid work models. However, in the Southeast, demand for office space has remained relatively resilient, particularly in cities like Charleston, Atlanta, and Raleigh, where strong population growth continues to drive activity. Charleston’s under construction pipeline reflects a response to both new business expansion and the ongoing demand for high quality office spaces. The Charleston office market offers a healthy mix of options for tenants. Available inventory is concentrated in areas that offer both historic character and modern amenities, catering to a variety of businesses looking to thrive in the Southeast’s growing economy.