Despite a substantial pause in leasing activity, Charlotte is well-positioned to weather the storm

Third-quarter leasing volume fell to 357,193 square feet (sf), down 35.2% from last quarter. A majority of the leasing activity that was seen was comprised of expansions and renewals. Although companies are still re-evaluating space needs and delaying real estate decisions, the Charlotte market has not seen a leasing activity drop as dramatic as in other markets. Tenants that have satellite locations in Charlotte are looking to expand. Charlotte is currently positioned as an attractive market due to more affordable living costs, lower dependence on public transportation, and lower population density than other metro markets. Large leases that occurred this quarter include, Retirement Clearing House (44,880 sf), Centene (37,129 sf), and Cardinal Financial (31,260 sf).

Read the full report