News
CHARLOTTE OFFICE: TENANTS STILL BOSS
April 26, 2012
| The Charlotte office market is chugging along with some momentum, according to the latest market report by Lincoln Harris. During Q1 2012, there was positive net absorption to the tune of more than 113k SF, and Charlotte's vacancy rate edged down to 19.9%. (Tell that vacancy rate the same thing you tell your barber: Keep shaving a little off the top until we've got a great look.) | ||
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| Still, despite the encouraging signs, Lincoln Harris VP Ted Haley tells us (between practicing his swing, having the phone in the ear is a good way to keep the head down) that Charlotte's still very much a tenants' market that hasn't seen a lull in concessions yet. Even in the strongest submarkets, he says, landlords are offering substantial concessions to compete with weaker submarkets. But this state of affairs won't last forever, Ted predicts. As the overall market continues to tighten up, concessions will slowly diminish. | ||
