2023 Q2 Charlotte Industrial Market Report

Industrial vacancy has begun to rise at a modest pace, rent growth has slowed, and demand is moderating, indicating further balance being restored to the Charlotte industrial market. A construction pipeline of over 20 million square feet should continue the trend of rising industrial vacancy rates as it is unlikely demand will keep up with deliveries in the near term. Despite the easing of some supply side pressures, the Charlotte industrial market continues to be a challenging environment for occupiers as they battle historically high lease rates.