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2019 Q2 Industrial Charlotte Report

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Fundamentals Stay Strong in the Charlotte Regional Industrial Market

Key Takeaways

  • Q2 2019 was another positive quarter for the greater Charlotte Industrial market. Absorption continue to be positive with 695,328 SF leased and demand is staying strong. Overall vacancy rates are still hovering around historic lows at 7.40%. The Charlotte industrial market looks to remain solid as we expect sustained growth in the upcoming quarter.
  • New construction projects in the Charlotte market and surrounding counties are in full swing. To date there is 7.7 Million square feet under construction in the Charlotte Region. 2.1 Million square feet of which is located in the Airport/West submarket, and 1.3 million square feet going up in Cabarrus County.
  • Top industrial leases during the second quarter include DHL’s lease of 102,600 SF at Chemway Industrial Park and Mavis Tire lease of 69,818 SF at Concord Airport Business Park. Other leases of note were Transrobotics’s lease of 56,556 SF at WestPark85 and Mobile Canning Systems’ lease of 23,605 SF in Lakemont West.

Summary Statistics

Q2 2019 Charlotte Industrial Market Warehouse Flex
# of Existing Buildings 3,053 705
Total Inventory SF 199,927,076 SF 25,365,525 SF
Vacancy Rate 7.40% 5.10%
Absorption SF 695,328 SF (169,704) SF
New Construction 709,298 SF -
Under Construction 7,708,942 SF 114,000 SF
 Asking Rents $4.98 PSF $11.83 PSF

Q2 2019 Industrial

2019 Q2 Industrial Charlotte Report

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Related Experts

Greg Copps

Managing Director

Charlotte

Mr. Copps specializes in industrial lease/sale transactions and investment sales.  He has over 30 years of real estate experience with extensive experience in dispositions, development services, land sales, investment sales, build-to-suits and tenant representation. Mr. Copps continues to rank in the top five industrial producers year after year for the Charlotte Metropolitan Area.

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