Charlotte Q4 019 Industrial Market Report
Yet again, Charlotte’s industrial market closed out 2019 with continued strength. According to CoStar, year over year, average market rents have risen 2% from $5.86 in Q4 2019 to $6.00 in Q4 2019. Industrial vacancy rates dipped a bit from Q3 to Q4 to 6.3%. Development continues with 2.5 million feet of construction starts in Q4, coupled with an expected +/- 4.5 million feet set to deliver in Q1 2020. It will be interesting to see the resulting effect on rental rates and vacancy in the first half of 2020.
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