Charlotte Market Information - Q2 2025
Now that we’re past the halfway point of 2025, there are few notable insights worth mentioning.
The development pipeline has all but dried up. The interest rate environment and the absence of an appetite from lending institutions are primarily to blame. The only significant project currently under construction is the Commonwealth building that is going up in Plaza Midwood. At the halfway point of the year, in both 2023 and 2024, the market experienced negative net absorption of over 1 million square feet; however, this year demand seems to be picking up. While net absorption is still negative (343k sf for the first six months of the year), it is significantly less than in 2023 and 2024.
The market with the most positive absorption numbers continues to be Midtown/Southend and both the University and Airport submarkets experienced more significant negative net absorption which is primarily a result of downsizing and/or relocation.
