Charlotte office market: A submarket vacancy comparison

– The Midtown/Randolph submarket currently reports the lowest vacancy in the market, with just 7.4% of inventory available.

– Overall vacancy across the Charlotte office market sits at 22.5%, reflecting a 0.3% decrease from Q4 2024. While leasing activity remains measured, the market has shown signs of stabilization throughout 2025, with improving fundamentals compared to late 2024.

– The Plaza Midwood/NoDa submarket records the highest vacancy rate among all submarkets, largely driven by the availability at 400 Camp Road. Excluding that property, vacancy in the submarket would drop to approximately 8%, bringing it to one of the top performing submarkets.