Office Submarket Reports

Q1 2022

OVERVIEW

Randolph boarders Charlotte’s Central Business District to the southeast and is a mid-sized submarket containing roughly 3.1 million SF of predominantly medical office space in support of Novant Health’s hospital campus.

DATA, TRENDS AND CONSIDERATIONS

All key indicators remain generally flat and healthy. Net absorption last year was 11,000 SF, more or less in line with the five-year annual average. Rents increased by 2.2% over the past year, down from 5.0% over the past decade.