Charlotte industrial real estate market reports

3Q21 highlights and trends

Momentum in Charlotte's industrial market showed no signs of slowing in the third quarter of 2021, as leasing activity reached record highs and absorption grows closer to exceeding the levels seen during 2020. This growth is driving elevated levels of construction and should continue into 2022 as the demand for industrial space has driven the overall vacancy rate to 6.3%.

4.4%

Economic Conditions

Unemployment rate in Charlotte, down 950 bps from the height of the pandemic.

2.7%

Recovery

Industrial workforce in Charlotte has grown by 2.7% in the last 12 months. 

11.9 msf

Industrial Demand

YTD leasing activity, a record high for Charlotte. Demand is expected to remain solid throughout 2021 and into 2022. 

7.1 msf

Industrial Supply

Amount of industrial space under construction at the end of the third quarter of 2021. Logistics and e-commerce businesses continue to expand as developers strive to meet demand. 

3%

Pricing Trends

Asking rents have increased by 3% since the start of the pandemic and have continued a steady upward trajectory since 2015. 

$2.1B

Capital Markets

Total industrial investment volume in Charlotte since 2020. Investor demand has outpaced available investment opportunities, creating a surge industrial asset pricing. 

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