Charlotte industrial real estate market reports
1Q 2024 highlights and trends
Charlotte industrial market trends
The first quarter of 2024 demonstrated the resiliency of the industrial real estate market in Charlotte, NC. Key trends such as the expansion of e-commerce, increasing focus on sustainability, and the growth of the manufacturing sector have contributed to the robust demand for industrial properties. The Charlotte market is expected to remain competitive in the coming year, as businesses continue to capitalize on the region's strategic location and favorable business environment.
Overall vacancy
Charlotte’s industrial occupancy rate hits a five-year low, as direct and sublease vacancies combine at 6.1%. We anticipate vacancy levels to top out as the development pipeline experiences delays regarding construction starts.
Active TIM demand
Avison Young Brokers closely monitor user demand trends across the Charlotte market, and we’re now tracking 233% more tenant requirements for new space sub 200k sf than in all of 2022.
Q1 ground breakings
Due to economic variables, groundbreakings are slow to replace delivered inventory in the pipeline and tenants looking for newly constructed space are experiencing limited optionality relative to prior years.
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