Charlotte industrial real estate market reports

4Q 2023 highlights and trends

Charlotte industrial market trends

The fourth quarter of 2023 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.

$143 psf

Small-bay industrial

Buyer investment demand for small-bay industrial facilities out paced any year prior in terms of transaction volume. Pricing for this asset type fell -6%, the smallest adjustment across all other asset types during a period when financing is costly and overall capital markets volume is slow.

11.1 msf

Gross leasing volume

Despite a fall from 2021 & 2022 activity levels, the leasing market in 2023 was exceptional, recording more total SF signed over twelve months than in any year prior to 2021. The average NNN lease rate across all industrial asset classes dropped slightly year-over-year to $6.47, and the average lease size was ±85k sf.

-42.7 %

Construction pipeline falls from historical high

Due to a prolonged period of elevated borrowing costs, new groundbreakings came to a standstill during 2023, and today’s construction pipeline has shrunken to a three-year low. We’re closely monitoring the market impact of limited preleasing options as Charlotte begins to experience a new product shortage for single-tenant offerings sub 100k sf.


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.

Get the latest Charlotte industrial market reports right in your inbox