2023 Q2 Charlotte Office Market Report

Vacancy rates in Charlotte sit at 17.8% and we continue to see companies right-size and consolidate their space throughout the MSA. Duke Energy is consolidating its footprint into the newly completed Duke Energy Plaza resulting in a 60% decrease in their overall square footage. Wells Fargo is vacating Two Wells Fargo and will backfill a portion of the space Duke Energy vacated at 550 S Tryon Street. This movement added to the overall quarterly net absorption of -68,441 SF in direct, Class A &B space.