Colliers International Released Their 2023 Quarter 1 Charlotte Industrial Market Report
The vacancy rate for industrial space is currently at 4.25% for a second consecutive quarter attributed to new bulk supply. Net absorption year-over-year was 291,000 square feet. There is currently 17.3 million square feet of industrial space under construction in the region, with Iredell County representing the third largest submarket totaling 2,689,351 square feet. Developers remain optimistic about the market’s potential for sustained growth due to strong fundamentals, occupier demand, and ongoing population growth. While there is uncertainty about how the “overall macroeconomic environment will impact the market,” there is confidence the Charlotte market will weather the storm better than other locations.
For the full report, read below:
2023 Q1 Charlotte Industrial Market Report
Colliers International is an investor in the Iredell Economic Development Corp.