Savannah Office Market Report
By PropZone Research · Data through Q4 2023 · Aggregated from Lee Associates, Colliers, Cushman & Wakefield
Quarterly office market indicators for Savannah, aggregated by PropZone from Lee Associates, Colliers, Cushman & Wakefield. As of Q4 2023, average asking rent was $7.28/SF with a 12.1% vacancy rate.
Projected current office pricing — Savannah
indicative confidenceModeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Savannah office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q4 2023 asking-rent data (benchmark cap rate 6.6%–8.6%, asking rent held flat). Assumes ~95% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2023 | $7.28/SF | 12.1% | 0K SF | — | Lee Associates |
| Q4 2023 | $90.00/SF | — | 2.5M SF | — | Colliers |
| Q4 2023 | $40.00/SF | 5.2% | 0K SF | — | Cushman & Wakefield |
| Q3 2017 | $6.54/SF | 7.9% | 6.6M SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for office space in Savannah?
- As of Q4 2023, the average asking rent for office space in Savannah was $7.28/SF, per Lee Associates.
- What is the office vacancy rate in Savannah?
- The office vacancy rate in Savannah was 12.1% as of Q4 2023 (Lee Associates).
- Where does PropZone's Savannah market data come from?
- This report aggregates quarterly office market data for Savannah from Lee Associates, Colliers, Cushman & Wakefield.