Availability continues to surge in Charlotte despite recent deliveries of pre-leased developments

The third quarter marked the seventh consecutive quarterly increase in availability, with overall availability increasing to a new peak of 17.3%. Availability has soared 560 basis points from pre-pandemic levels (11.7%) to the current high. Class A availability stayed flat at 18.3%, when compared to Q2. The Midtown/South End submarket is seeing some recovery, posting a 190-basis-point decline in availability to 9.3% at the end of Q2, further emphasizing companies’ eagerness to be located near ample entertainment opportunities and amenities for their workforce to utilize. While the development pipeline remains active, it may not add significant new available space to the market with a majority of current developments delivering with pre-leases attached to them.

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