COVID-19 reaches Charlotte with unknown consequences to growing market

Towards the end of the first quarter, the rapidly evolving COVID-19 pandemic brought business to an unprecedented halt across the country. Starting March 20th, Mecklenburg County issued an unprecedented shelter-in-place order, limiting business across Charlotte to essential activities only. The office market will likely be impacted by a decrease in leasing activity as businesses re-evaluate current capital and workforce needs, both near- and long-term. Charlotte was in high demand in 2019 and 2020 was poised to be another active year for the market ahead of the public health crisis. The overall effect on the Charlotte office market while unknown, will be dependent on the severity of current circumstances and overall trajectory they take.

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