2016 commercial market forecast | office update

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OFFICE REPORTJonathan J. Chalfie

www.CharlestonCommercialMarketForecast.com

TOTAL OFFICE MARKET

TOTAL MARKETTotal SF……………….. 19,416,259Avg. Rental Rate……. $20.92/SF% Vacancy…………………….. 8.2%

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MARKET CYCLE

Source: Integra Realty Resources

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WEST ASHLEY MARKET

WEST ASHLEY MARKETTotal SF…………………. 1,537,561Avg. Rental Rate……. $21.21/SF% Vacancy…………………... 12.8%

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NORTH CHARLESTON MARKET

N. CHARLESTON MARKET

Total SF……………….... 7,511,006Avg. Rental Rate……. $17.27/SF% Vacancy………………….. 10.9%

River Oaks

Garco Mill

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DANIEL ISLAND MARKET

DANIEL ISLAND MARKETTotal SF…………………. 1,523,158Avg. Rental Rate……. $20.09/SF% Vacancy…………………….. 3.1%

Blackbaud

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MOUNT PLEASANT MARKET

MT. PLEASANT MARKETTotal SF…………………. 2,391,902Avg. Rental Rate……. $24.30/SF% Vacancy…………………….. 3.6%

Ferry Wharf

101 Coleman Blvd

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DOWNTOWN MARKET

DOWNTOWN MARKETTotal SF…………………. 4,837,707Avg. Rental Rate……. $30.33/SF% Vacancy…………………….. 4.7%

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DOWNTOWN MARKET UPDATE

West Edge

317 Meeting St

Pacific Box & Crate

Southern First

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INVESTMENT SALE CAP RATES

NORTH CHARLESTON

3820/3860 Faber Place…..8.5%4130 Faber Place…………….8.5%1535 Hobby Street………….8.0%4969 Centre Point…………..7.0%

MOUNT PLEASANT1106 Chuck Dawley…. $487/SF

DOWNTOWN288 Meeting Street…….…. 6.2%

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Jon ChalfieBrokerLee & Associatesjchalfie@lee-associates.com843-345-6000