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2021 Q2 Office Charleston Report

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By Crystal Baker, Research Coordinator | South Carolina

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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