Charlotte Industrial Q4 2021 Market Overview
Industrial leasing activity in the Charlotte market continues at historic levels. At the end of Q4, the vacancy rate was 5.7%, 12% lower than Q4 2020, and well below the 10 year average of 7.78%. This scarcity of inventory has continued to drive average rental rates up to a current $7.12/SF for all industrial product types and $6.84 for bulk distribution. A further indicator of the market's strength is the positive 2.17 MSF of net absorption coming out of Q4.