Charlotte’s demand for office space softens amid economic headwinds

Office leasing in the Queen City experienced a slowdown in Q1 2023 decreasing by 39% from the previous year to 553,538 square feet (sf). Prior to its historical crash, Silicon Valley Bank recently leased and expanded their space at The Line, a new development in South End. As economic uncertainty hits the nation’s second largest banking center, occupiers are proving to be timid to sign new leases, particularly if their current lease does not expire in the near term.

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