Nov
05

Office Vacancy Rate in the Upstate Dropped To 17.2% during 3Q

By
– GSA Business

The office-vacancy rate in the Upstate dropped to 17.2% during the third quarter, according to a report released today by CB Richard Ellis The Furman Co.

Property owners continue to lower rental rates, however. Asking rates in the Greenville-Spartanburg market averaged $16.42 per square foot, the largest quarter-to-quarter decline in more than two year, CBRE said.

“If declines in vacancy can be sustained, rates should eventually rise,” the report said.

While rates were down quarter-to-quarter, they were up year-over-year.

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    Categories : Greenville

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