Charlotte Q3 2019 Industrial Market Report

Charlotte’s industrial market continued to be strong in the 3rd quarter of 2019. According to CoStar, year over year, average market rents have risen 4.5% from $5.77 in Q3 2018 to $6.08 in Q3 2019. Industrial vacancy rates remained steady from Q2 to Q3 at around 6.3% while rising from 5.3% in Q3 2018. Development continues with 3.1 million square feet of industrial space delivered in Q3, with vacancy rates expected to rise as we move into the first half of 2020.