Asking rents increase over the year, particularly in the CBD
The overall average asking rent in Charlotte ended the second quarter of 2019 at $28.06 per square foot (psf), up 4.4% compared to one year ago. Class A asking rents followed a similar trend, increasing 5.1% over the same period, to $31.16 psf. Rents ranged from a low of $21.96 psf in the South Carolina submarket, to $33.99 psf in Central Business District (CBD). The CBD, the largest submarket in terms of office inventory, registered a year-over-year increase of 7.4% in Class A rents corresponding to a significant drop in available options over the same period.