Availability rates are the highest Charlotte has seen in fifteen years, creating a unique opportunity for occupiers

In Q2, Charlotte’s overall availability rate hit a 15-year high of 16.6%, up 370 basis points year over year from 12.9%. Class A availabilities sit even higher at 18.3%, a sharp increase of 460 basis points over the year from 13.7%. In the Central Business District (CBD) submarket, where the highest concentration of Class A buildings is located, the overall availability rate is well above the market average at 18.2% with the Class A rate being at 19.4%. Further elevating downtown availability is 630,000 square feet (sf) of sublease space available in the CBD, the highest concentration of sublet inventory market-wide. Occupiers have ample opportunities to find prime Class A options with favorable transaction terms amongst Charlotte’s increasingly soft market, which will likely continue through the end of the year.

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