Charleston Office Figures Q2 2026

In Q2 2026, the market posted net absorption of 5,000 sq. ft., bringing year-to-date absorption to 67,000 sq. ft. Although Q2 2026 absorption is slightly lower from the 29,000 sq. ft. absorbed one year prior, absorption has remained positive each quarter since Q3 2023. Vacancy remained flat at 8.1%, while availability decreased from 13.5% to 11.9% from the previous quarter. Vacancy and availability have decreased from 9.9% and 15.0%, respectively, since Q2 2025, and availability is down overall from a peak of 18.4% in Q2 2023. Average asking rent reached $32.71 per sq. ft., up 2.0% from the prior quarter and 0.2% year-over-year.

While development activity remains limited, The Point - a 130,000 sq. ft. office project currently under construction - represents the market’s only active pipeline project.

Leasing activity totaled 124,000 sq. ft. in Q2 2026, led by three major transactions. Boeing signed the largest lease at 80,000 sq. ft. in North Charleston, followed by a 34,000 sq. ft. confidential tenant lease on Daniel Island and Insight Global’s 10,000 sq. ft. commitment in the Peninsula submarket.