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% |
Office Spaces for Rent in South Carolina
Coworking Spaces in South Carolina
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2024 Office Construction in Charleston, SC
| Office building | Address | SF | Completed |
|---|---|---|---|
| Morrison Yard - 850 Morrison Drive | 850 Morrison Drive, 29403 | 146,588 | 2022 |
| The Morris | 1080 Morrison Drive, 29403 | 115,000 | 2022 |
| The Quin | 1940 Algonquin Road, 29405 | 128,221 | 2021 |
| The Quin | 1940 Algonquin Rd, 29405 | 110,000 | 2021 |
| 22 Westedge | 22 Westedge St, 29403 | 154,998 | 2020 |
| 1640 Meeting Street | 1640 Meeting Street, 29405 | 45,000 | 2020 |
| 22 WestEdge | 22 WestEdge Drive, 29403 | 153,000 | 2019 |
| 83 Mary St | 83 Mary St, 29403 | 8,317 | 2019 |
| 297 Seven Farms Drive | 297 Seven Farms Drive, 29492 | 3,148 | 2019 |
| 297 Seven Farms Drive | 297 Seven Farms Drive, 29492 | 3,148 | 2019 |
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.
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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 CommercialEdge, 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 CommercialEdge can guarantee that the information provided is complete.