CHARLOTTE — Third-quarter data from some of Charlotte’s major commercial real estate companies show slight declines in rental vacancies and a continued upward trend in net absorption rates. Net office uptake in the third quarter put the city on track for its highest annual total since 2019, according to CBRE’s news report. CBRE reported a net absorption rate of approximately 96,000 square feet, the second consecutive quarter with a positive total.
“We really saw downtown having a great rebound and a good quarter. The airport and South End have benefited from much of this activity, so it’s optimistic to see the CBD gaining momentum,” said JP Price, Cushman & Wakefield’s research manager for the Carolinas. “It was really one that was an indicator of a real rebound for downtown and something we plan to continue.”
JLL reports indicate that much of the absorption continues to be concentrated in new construction. Chris Schaaf, chief executive of JLL, said the trend has prompted landlords to invest in older spaces to bring amenities and design in line with newly delivered buildings, which will make it easier to rent as businesses look to bring their homes back. employees at work thanks to more strategic office spaces. .
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