Charlotte’s steep tenant demand drives the industrial market to record leasing volume
In the third quarter of 2022, leasing activity in Charlotte reached its second-highest recorded volume to date, exceeding 2.9 million square feet (msf). With Charlotte’s advantageous location in the Southeast, the movement of 3PLs , e-commerce and construction rates have fueled robust activity. A notable leasing trend in the third quarter was the increasing amount of square feet leased by single tenants. The U.S. Postal Service and Home Deport inked the top two leases in Q3, both exceeding half a million square feet. Despite U.S. economic headwinds, the Charlotte industrial market has shown no signs of slowing down. Charlotte and expanding outer submarkets like Iredell and Gaston County are experiencing prosperous tenant and development interest in warehouse space.