Industrial vacancy remained flat and rent growth has slowed, indicating some balance being restored to the Charlotte industrial market.
Over 7M SF of new industrial product delivered over the last 12 months, combined with an additional 23M SF of product planned or under construction is expected to raise vacancy and continue to slow rate escalations over the next 9 months.
Despite the easing of some supply side pressures, the Charlotte industrial market remains a challenge for occupiers to maneuver.