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38 23 Savannah Area Chamber of Commerce 2026 Economic Trends Industry: Real Estate Office and Industrial Markets As of the third quarter of 2025, metro Savannah's office market recorded a decrease in the overall vacancy rate to 3.8% from 4.9% at year-end 2024. Of non-owner-occupied office space 5,000 square feet or larger, the office space inventory in Metro Savannah was 4.2 million square feet. The market occupancy rate remained above 90% for the fourth consecutive year at 96.2% after hovering in the range of 86% to 91% in the preceding five years. In the MSA, the average asking rental rate was $32.32, ranging from $32.76 per square foot in the Greater Savannah non-CBD area to $36.84 in the downtown historic district. Source: Gilbert & Ezelle Commercial Real Estate, Cushman & Wakefield Marketbeat Report, Q3 2025, 12/2025 . Savannah MSA Office Market 2025: 3 rd Quarter Total Square Feet 4,158,467 Vacant Space (sq. ft.) 184,191 Vacancy Rate 3.8% Overall Average Asking Rate (Class A) $32.32 Savannah MSA Sub-Markets Inventory Vacancy Rate Overall Avg Asking Rent (Class A) CBD/Historic Downtown 1,289,688 2.1% $36.84 Greater Savannah Non-CBD 2,828,529 3.8% $32.76 Source: Gilbert & Ezelle | Cushman & Wakefield Marketbeat Report, Q3 2025 obtained 12/2025. Industrial Market Development in metro Savannah's industrial and warehousing market continued healthily in 2025 following a mild mid-year ease. Industrial activity was highlighted by 14.3 million square feet of inventory delivered during the year. Port-related trade and distribution increased demand amid continuing substantial supply-side growth. With delivery of new inventory during Q4, the overall vacancy rate is 10.6% at the end of 2025. The vacancy rate is expected to fall slightly in 2026 as absorption of new inventory modestly exceeds continued substantial investment and delivery of new facilities. Savannah Industrial Market 2025:Q3 2024:Q4 2023:Q4 2022:Q4 Total Inventory 168,000,000 Sq. Ft. 153,700,000 Sq. Ft. 125,854,000 Sq. Ft. 105,027,000 Sq. Ft. New Construction Added to Inventory 14,300,000 Sq. Ft. 27,846,000 Sq. Ft. 21,100,000 Sq. Ft. 15,700,000 Sq. Ft. Total Inventory Available for Sale/Lease 17,500,000 Sq. Ft. 13,237,000 Sq. Ft. 8,748,000 Sq. Ft. 702,000 Sq. Ft. Overall Vacancy Rate 10.6% 8.6% 7.0% 0.7% Source: Gilbert & Ezelle | Cushman & Wakefield Marketbeat Report, Q3 2025, obtained 12/2025.