News
CHARLOTTE OFFICE HOLDS STEADY— BUT WHY?
April 12, 2012
| Many office markets around the country are still a little wobbly, but Charlotte is standing straight, according to JLL research analyst Ross Howard, who's based in the city. | ||
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| During 1Q '12, asking rents in Charlotte stabilized and even increased in some stronger submarkets. "Although there was an increase in the metro's asking rent, landlords held steady at their free rent offering of one month per year of term in both the CBD and suburban submarkets," Ross says. Moreover, Q1 relocations show the market has some site-selection zing, such as the pending move by banana king Chiquita from Cincinnati to NASCAR Plaza, or the fact that Infinisource Holdings eyed sites in South Carolina, Michigan, and Ohio before deciding to move to Ballantyne Corporate Park. (Prestige can go a long way for an office market, just ask San Francisco or Seattle.) | ||
