Charlotte industrial real estate market reports
2Q 2024 highlights and trends
The Charlotte industrial market ended the second quarter on a positive note with an uptick in positive absorption, however, the vacancy rate is still being impacted by large amounts of new construction vacant space entering the inventory. As leasing activity increases across the market, the vacancy rate should begin to stabilize and asking rental rates will see upward movement.
21.7%
Space preleased in 1H 2024 deliveries
21.7% of the space that delivered in the first of 2024 was preleased.
400 bps
Select submarkets impacting market vacancy rate
The Charlotte industrial vacancy rate has increased 400 basis points since 2022, driven by vacant new construction space delivering in Gaston County.
2.9 msf
Increase in ground breakings
After a slowdown in ground breakings the last few quarters, the market saw an uptick in activity with 2.9 msf of new project starts.
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