2021 Q4 Charlotte Office Market Report

Charlotte Office Q4 2021 Market Overview

Charlotte office occupiers continue to face uncertainty with a split between plans to return to work and those making announcements to continue working-from-home. Despite this uncertainty, the Charlotte market fundamentals remain strong and the market posted positive net absorption in Q4, the vast majority of which is concentrated in new or redeveloped buildings in Uptown, SouthEnd and FreeMoreWest submarkets. Robust capital markets activity in Q4,the highest quarterly sales volume on record, led to record breaking transactions including Honeywell's HQ at $735/SF and the sale of Lowe's Tech Hub in South End for $889/SF.