Charlotte industrial real estate market reports
4Q 2024 highlights and trends
The Charlotte industrial market continued to move in a positive direction in the fourth quarter with leasing remaining steady and tenant demand strong. While big-box vacancy rates remain elevated, at 16% for 500,000+ square foot buildings, leasing was strong, with 2.8 msf of industrial space leased in the fourth quarter. Tenant demand remains high, with 70 tenants-in-the-market (TIMs) being tracked accounting for over 10 million square feet of occupier demand.
16%
Big box vacancy rate
Large industrial buildings are carrying elevated vacancy rates. For buildings over 500,000 square feet, this rate is 16%. Buildings between 250,000 and 499,000 square feet are lower, at 11%, yet tenant demand has not yet caught up to recent deliveries.
146K
Average TIM demand
Prospective tenants are seeking 140,000 square feet, on average. Over 70 TIMs are being tracked, though over half are seeking space less than 150,000 square feet.
10 msf
Leased in 2024
Leasing activity stabilized to the 8 year average, with over 10 msf leased in 2024. This is in line with pre-pandemic figures, while the average base rent declined slightly to $9.15.
Your source for the latest Charlotte industrial real estate reports
Stay on top of current trends affecting the industrial real estate sector in Charlotte. Gain an overall better understanding of Charlotte's industrial real estate market conditions, so you can better formulate strategies to overcome any obstacle and know how to best invest in industrial real estate in Charlotte.
Here, you’ll always find the latest industrial real estate market news so you can stay ahead. Come back often to see expert insights on the current and future of Charlotte industrial real estate market.