2021 Q4 Charlotte Industrial Market Report

Charlotte Industrial Q4 2021 Market Overview

Industrial leasing activity in the Charlotte market continues at historic levels. At the end of Q4, the vacancy rate was 5.7%, 12% lower than Q4 2020, and well below the 10 year average of 7.78%. This scarcity of inventory has continued to drive average rental rates up to a current $7.12/SF for all industrial product types and $6.84 for bulk distribution. A further indicator of the market's strength is the positive 2.17 MSF of net absorption coming out of Q4.