The Stateline and Airport submarkets see the largest increase in industrial growth across the Charlotte MSA over five years - United States
The Stateline and Airport submarkets see the largest increase in industrial growth across the Charlotte MSA over five years
Charlotte’s Airport and Stateline submarkets have delivered 15.2 msf of new industrial inventory over five years, producing more than half of Charlotte’s deliveries since 2018, and accounting for 20% of all new product in North Carolina. Combined, the Airport and Stateline submarkets exceed the total new production in Raleigh/Durham and Greensboro, respectively.
Airport/Stateline deliveries completed within the last five years are 93.2% leased, while remaining availabilities are among properties delivered within the last 6-months.
With 5.5 msf set to deliver by year end 2024, planned deliveries should result in temporary easing of vacancy rates, however, rent rates will likely continue a steady trend upward as the Charlotte MSA records it’s 13th consecutive year of positive net absorption.