NREI WIRE
Industrial Warehouse

Tight Industrial Market, Significant Construction Pipeline Key Themes in Charlotte

Industrial tenants face tough competition for space in Charlotte, N.C.

Charlotte's industrial market continues to be on fire, creating very low vacancy rates and challenges for tenants who can't find or relocate to bigger spaces. Market-wide, the vacancy rate for warehouse space dropped to 4.4%, compared to 5.9% at the start of 2016, according to an industrial market report by Cushman & Wakefield. Rental rates haven't moved very much — about 5 cents since the first quarter of 2016 — but Cushman noted that landlords are holding tighter to asking rates.

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