The Queen City experiences record high availability due to higher sublease space and new construction

In the second quarter 2022, the total availability rate in the Charlotte office market increased to a record high of 20.6%, up 200 basis points (bps) from 18.6% reported last quarter and up 400 bps from 16.6% reported a year ago. Due to higher sublease space on the market, as well as new speculative office construction, overall and Class A availability levels have both now increased to over 20%. With 2.8 million square feet (msf) of sublease space now on the market, including Walmart’s 110,000 sf sublease in the Airport submarket, sublease availability has now increased 47.0% year over year.

Read the full report