Industrial Submarket Reports

Q1 2022

OVERVIEW

The North is among Charlotte’s most ideally located industrial submarkets, with quick access to both I77 and the I-85 junctions, and is as such a hotbed for users and investors in the space. Major corporate tenants, large regional operators and small local businesses alike comprise the large and diverse product set. Ongoing new construction and announcements of regional hubs for the likes of Amazon and Fedex support the projected ongoing growth of the market. Roughly 70% of the product in this relatively newly constructed submarket is categorized as logistical facilities while smaller flex properties also comprise a larger than avg. percentage of market product.

DATA, TRENDS AND CONSIDERATIONS

The north submarket, in the midst of “lag” from major relocations and new supply being added the market is in a period of transition. While this is presently netting vacancies above the Charlotte avg., it does not project to be a longer-term trend. Market fundamentals are strong and tenant / investor demand increasing during this period of undersupply as rent growth is in line with a blistering charlotte market avg. nearing 10% annually.