Top Downtown Offices 2.2% Empty; Downtown 13.3%

The downtown Greenville skyline seen from the Main Street Bridge over the Reedy River.

Photograph by Spatms, CC BY-SA 4.0, via Wikimedia Commons

GREENVILLE, S.C., Oct. 20. Of the best office space in downtown Greenville, 2.2 per cent is empty. Of downtown as a whole, 13.3 per cent is, according to Cushman & Wakefield's report for the third quarter, and across the Greenville and Spartanburg market the older Class B buildings stand 19.6 per cent vacant, holding nearly 660,000 square feet, more than a third of all the empty space.

Cushman & Wakefield said that imbalance had created room for new building. Two projects totaling just over 100,000 square feet broke ground downtown in the quarter, with substantial space already committed, the firm said. A year earlier nothing was under construction anywhere in the market, and no new office space has been finished since 2024. The average asking rent reached $26.08 a square foot a year, a record for the market and 5.2 per cent above a year earlier.

Suburban offices are selling again. Five suburban office sales through September came to more than $101 million, more than five times the $18.3 million of all 2025, led by the $35.3 million purchase of Independence Corporate Park, seven buildings with more than 307,000 square feet along Pelham Road. That is about $115 a square foot.