Charlotte Office Market Report
Annual full-service asking rental rates marginally grew to $33.51/SF, a 0.1% increase year over year. Occupancy declined, pushing overall vacancy rates to increase by 450 basis points year over year to a recent historical high, growing to 23.8%. The under-construction pipeline inched upward, with 1.7 MSF in progress. Total leasing activity closed the quarter at 650,420 SF, well below the 15-year average of 1.0 MSF.
Download Charlotte Office Market Report 3Q23