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The Charleston market saw several quarters of increasing demand culminate in its highest absorption in a year at 90,244 square feet, Colliers said in a 25Q1 Office report.

Downtown and Lower North Charleston Class A and B spaces captured the bulk of new absorption, emphasizing the attractiveness of the market’s core as tenants seek to maximize amenities over commute times in a push towards return-to-office, Colliers said.

The full-service commercial real estate firm said buildings offering attached parking and renovated spaces performed best in a competitive environment in which rents have declined slightly from an aggressive peak, but vacancy remains relatively elevated.

Suburban submarkets such as Daniel Island, in which 37 percent of space remains vacant, still face significant challenges, but several notable leases signed in the Faber Place office park provide a boost, Colliers said.

It said abundant sublease availability is still suppressing rents, but sublease deal activity is on the rise.

Class A asking rates continued to moderate, averaging $32.92 per square foot, while a second straight quarter of net absorption was strong at 90,244 square feet, Colliers said.

Vacancy fell significantly to 15.45 percent while total inventory remained flat at 11,683,130 square feet as one building delivered.