Office leasing continues to revive as transaction volume hints at a return to pre-pandemic levels

The office market in Charlotte continues to show signs of recovery as the number of leases and size of leases have escalated. With 130 leases signed in Q1 2022, 907,540 square feet (sf) was leased. That is nearly double the total square footage leased from last quarter (550,868 sf) and the highest amount leased in two years. This provides an optimistic outlook for the return of the workforce and the demand for space. According to the most recent report from the U.S Bureau of Labor Statistics, Charlotte’s unemployment rate dropped from 5.8% in Q1 2021 to now only 3.8 %. As many companies plan for how they will work post-pandemic, building amenities and a focus on health and wellness have become a high priority as everyone navigates return-to-office plans.

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