Central Charlotte submarkets lead 2025 leasing comeback

– Despite being only the 5th largest submarket by total square footage, Midtown Southend (West) has recorded the second-highest leasing activity in 2025 YTD, totaling 503,389 SF. A significant driver of this activity was the leasing of over 200,000 SF at 110 East Blvd. Notable tenants include First Horizon, Coinbase, and SouthState, among others.

– Leasing activity across these seven submarkets has already reached 81% of 2024’s total volume. With nearly four months remaining, they are on track not only to surpass last year’s performance but to mark the strongest leasing year since 2019. The CBD, Midtown South End (West), and Airport submarkets are leading the charge, pointing to a clear trend of tenants favoring centrally located, high-quality office buildings as part of the ongoing flight to quality trend.

– Interestingly, as overall leasing activity climbs, average lease sizes are rising as well. Year-to-date, the average deal size stands at 8,402 SF. If this trend continues, 2025 will record the largest average lease size since 2019 — a clear signal of renewed tenant confidence.