Figures

Charlotte Industrial Figures Q1 2025

April 25, 2025 5 Minute Read

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‒Over 2.3 million sq. ft. of positive net absorption was recorded in Q1 2025, more than double the amount recorded in the first quarter of 2024.
‒Development activity continued with 4.2 million sq. ft. underway at the end of Q1 2025, with 1.4 million sq. ft. of completions. Development volume recorded a 44.3% decrease quarter-over-quarter, providing the market with a chance to absorb existing supply.
‒Industrial vacancy decreased to 8.2% in Q1 2025, the first vacancy decrease recorded in two years. The majority of the vacant space can be found in projects that have delivered over the past several years.
‒The overall average achieved rate increased 0.8% quarter-over-quarter to $9.87 per sq. ft. NNN. Rent growth is expected to continue, though at a slower pace.
‒Investment sales volume reached $153.2 million in Q1 2025; 45.1% lower than the volume recorded through the first quarter of 2024. Pricing remains strong for the projects that have traded.