Charlotte commercial real estate companies break down third quarter office data

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Third quarter data from some of Charlotte’s major commercial real estate companies shows slight declines in 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.

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“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 is optimistic to see the CBD gaining this momentum,” said JP Price, Cushman & Wakefield 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 SchaffJLL’s chief executive, 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 companies seek to bring employees back to work. thanks to more strategic office spaces.

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