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2021 Q2 Office Charleston Report

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Hybrid office tenants may reconfigure office space

Key Takeaways

  • In the next few quarters, tenants will need to renew ahead of lease expirations to secure a Charleston office location as office activity accelerates
  • Tenants right-sizing their space usually only shave off 25% or less of their original office footprint
  • Hybrid and remote options will likely cause some office tenants to reconfigure their space

Charleston tenants are returning to their offices now that the vaccine is widely available. Some are choosing to rightsize and/or reconfigure their offices because remote and flexible hybrid work schedules are widely acceptable. However, if there is any contraction of office space, it usually only constitutes giving back 20% of their original footprint.  If tenants choose to relocate into a Class B or C building, the space will need to be upgraded to provide the desired amenities for hybrid office tenants.

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2021 Q2 Office Charleston Report

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Related Experts

Kristie Roe

Senior Brokerage Associate

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As a Senior Brokerage Associate with Colliers International | South Carolina, my expertise is in the leasing and sale of office properties and investment sales across Charleston and the Lowcountry. My clients include investors, owners, users, landlords and tenants in both development projects and existing products.

My clients rely on my market analysis, strategic planning, contract negotiations and detailed reporting to provide positive results and the fulfillment of their real estate goals and needs.

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William Ederle

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I am a big believer in Colliers’ platform of services, especially in the way we take market data and turn it into unique solutions that others cannot offer. My goal is to ease your mind by contextualizing your commercial real estate needs with my market knowledge and our market data. 

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