Savannah Office Market Report
By CREhunt Research · Data through Q2 2025 · Aggregated from Cushman & Wakefield, Colliers
Quarterly office market indicators for Savannah, aggregated by CREhunt from Cushman & Wakefield, Colliers. As of Q2 2025, average asking rent was $35.00/SF/yr and vacancy was 4.6%, per Cushman & Wakefield.
Projected current office pricing — Savannah
Modeled 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 Q2 2025 Cushman & Wakefield asking-rent data (benchmark cap rate 6.5%–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 |
|---|---|---|---|---|---|
| Q2 2025 Cushman & Wakefield | $35.00/SF/yr | 4.6% | -43K SF | — | Cushman & Wakefield |
| Q4 2023 Colliers | $90.00/SF/yr | — | 2.5M SF | — | Colliers |
| Q4 2023 Cushman & Wakefield | $40.00/SF/yr | 5.2% | 35 SF | — | Cushman & Wakefield |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Savannah office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| CBD -Historic Downtown | $35.70/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Greater Savannah | $34.28/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| NON-CBD | $34.94/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Northside | $35.32/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
| Southside | $21.06/SF/yr Cushman & Wakefield · Q2 2025 | Cushman & Wakefield, Q2 2025 |
Frequently asked questions
- What is the average asking rent for office space in Savannah?
- As of Q2 2025, the average asking rent for office space in Savannah was $35.00/SF/yr, per Cushman & Wakefield.
- What is the office vacancy rate in Savannah?
- The office vacancy rate in Savannah was 4.6% as of Q2 2025 (Cushman & Wakefield).
- Where does CREhunt's Savannah market data come from?
- This report aggregates quarterly office market data for Savannah from Cushman & Wakefield, Colliers.