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2021 Q2 Office Charlotte Report

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Leasing Forges ahead Despite an Increase in Sublease Availability

Key Takeaways

  • Absorption was positive this quarter with companies such as First National Bank and LendingTree moving into their respective buildings.
  • Vacancy increased to 12.8% as over 2 million SF of office space delivered in Q2, 2021.
  • Rental rates continue to steadily climb as tenants and users look to return to the office.
  • Sublet space increased by 5 basis points, while companies continue to shed excess space.

 

Summary Statistics

Charlotte q2 2021 stats

A Note Regarding COVID-19 - As we publish this report, the U.S. and the world at large are facing a tremendous challenge, the scale of which is unprecedented in recent history. The spread of the novel coronavirus (COVID-19) is significantly altering day-today life, impacting society, the economy and, by extension, commercial real estate. The extent, length and severity of this pandemic is unknown and continues to evolve at a rapid pace. The scale of the impact and its timing varies between locations. To better understand trends and emerging adjustments, please subscribe to Colliers’ COVID-19 Knowledge Leader page for resources and recent updates.

 

 


2021 Q2 Office Charlotte Report

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Parker Levy

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Prior to joining Colliers, Parker spent two and a half years with Costar as a Research Associate.  During his tenure he built relationships with commercial brokers across every asset type,  developed extensive experience in data collection, market report creation, management of client portfolios as well as trend analysis. Parker's role with Colliers | Charlotte is to assist with business development for the office tenant representation team. His persistant approach combined with his research background  give him a unique  competitive advantage when servicing his clients.

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Brad Grow

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Brad Grow specializes in office services focusing primarily on Tenant Representation. He brings over 19 years of local and regional transaction experience. In addition to numerous institutional and regional developer clients, Brad specializes in the representation of professional services firms and law firms in the Charlotte market.
 

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Brent Royall

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Whether working with a bootstrapped tech start-up looking for edgy office space or a global accounting firm wanting to modernize their image in the central business district or even a Fortune 500 wanting to optimally locate a high density, 1000-employee shared services group, I have the skill and experience to minimize risks and maximize opportunities...saving the client significant dollars in the process while protecting their long-term business interests.

 

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Casey Sherman

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As a member of the Colliers Charlotte Office Team, Casey  acts as a consultant for his clients in all areas of commercial office brokerage including: landlord and tenant representation, acquisitions, dispositions, site selection, market analysis and forecasting.


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