Charlotte industrial real estate market reports

1Q22 highlights and trends

After a banner year in 2021, the momentum in Charlotte’s industrial market is not slowing, as leasing activity reached record highs in the first quarter. This growth is driving elevated levels of construction and the demand for industrial space has driven the overall vacancy rate to 4.7%.

203 msf


A highly active pipeline, particularly in large speculative development, is expected to provide some relief in terms of availability in the long term. There is currently 13.1 msf of industrial space currently under way.

1.7 msf

Net absorption

Charlotte continues to experience solid demand that is currently outpacing new deliveries. Total leasing activity reached a record-setting 16 msf in the last twelve months.


Direct asking rent

Asking rents increased by 5.5% year-over-year, bringing the average asking rate to $5.63 psf. Landlords will continue to hold the upper hand in lease term negotiations.



High tenant demand and an active development pipeline accord with a very low vacancy rate for existing space, bringing total vacancy to 4.7% in the first quarter.

$170 psf

Capital markets

Investors continue capital deployment in industrial assets in Charlotte at a record pace, translating to a record-setting average valuation of $170 psf.

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