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Regional Summaries

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Charlotte, NC

Apartment
CharlotteÂ’s 125,213-unit apartment market saw an increase in vacancy in the fourth quarter of 2017. After finishing the third quarter at 5.6%, the fourth quarter followed with 6.0%, up 40 basis points for the quarter and up 50 over 12 months. The rate ticked down slightly in January 2018. Reis reports fourth quarter average asking and effective rents of $1,066 and $983 per month, up 0.2% and 0.1% over the quarter, and up 4.8% and 5.3% over 12 months. Both rent categories posted 0.4% gains in January 2018. VIEW APARTMENT LISTINGS >
Industrial
Occupancy is stable in CharlotteÂ’s 109.4-million-square-foot warehouse/distribution market. The fourth quarter of 2017Â’s 9.7% vacancy rate was unchanged from the third quarter and down 30 basis points year-over-year. Vacancy has been trending slowly downward since the 12.5% recorded in 2010. Reis reports fourth quarter asking and effective rents of $4.54 psf and $4.07 psf, up 1.1% and 1.2% over the quarter, and up 4.4% and 4.9% over 12 months. January 2018 data show a slight asking rent increase. The Charlotte Flex/R&D market finished the fourth quarter of 2017 with a vacancy rate of 8.8%, down 70 basis points from the prior quarter and down 290 basis points over 12 months. Flex/R&D space posted 98,000 square feet of positive net absorption in the fourth quarter, bringing the annual total to 428,000 square feet. January 2018 data show a dip of 11,000 square feet of negative demand. Asking and effective rents increased by 1.0% and 1.2% in the fourth quarter to $8.09 psf and $7.02 psf. These rates were up 3.9% and 4.3% over 12 months. VIEW INDUSTRIAL LISTINGS >
Office
The 46.2-million-square-foot Charlotte area general purpose, multi-tenant office market finished the fourth quarter of 2017 with a vacancy rate of 16.1%, unchanged from the prior quarter and up 160 basis points from one year earlier. January 2018 data from Reis show a slight dip in the rate. Reis reports fourth quarter average asking and effective rents of $24.61 psf and $20.29 psf, up 1.3% and 1.2% over the quarter, and up 4.7% and 4.6% over 12 months. Rents were up a penny in January 2018. VIEW OFFICE LISTINGS >
Retail
CharlotteÂ’s 23.6-million-square-foot community-neighborhood shopping center market finished the fourth quarter of 2017 with an 8.7% vacancy rate, down 40 basis points from the prior quarter and unchanged from 12 months earlier. January 2018 data show a 10-basis-points increase for community-neighborhood center vacancy to 8.8%. For CharlotteÂ’s community-neighborhood shopping centers, Reis reports a fourth quarter 2017 average asking rent of $18.90 psf and an average effective rent of $16.61 psf. The asking rent was down 0.1% in the quarter but up 0.9% over the year. Asking rents posted 0.1% losses in both the first and fourth quarter of 2017, making it a tough year for rents. VIEW RETAIL LISTINGS >

More from our Local Market Experts About NC

Source: Data provided by Reis, inc.

Coldwell Banker Commercial® Reports

Coldwell Banker Commercial® Blue Book

The Coldwell Banker Commercial® (CBC) organization is proud to present its’ 2017 Year-End Blue Book!

The Blue Book is a helpful market report with information brought to you by the true “on the ground” experts – the professionals of the Coldwell Banker Commercial organization from all over the world.

CBC-affiliated professionals represent one of the largest commercial real estate footprints in the U.S.  The Blue Book brings their local market feedback directly to you with up-to-date commercial real estate research covering 130+ Primary, Secondary, Tertiary & International markets. If you are thinking of investing in alternative markets, the Blue Book is your go-to resource for local commercial real estate market data!

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