Charlotte Industrial Figures Q1 2026

The Charlotte market maintained steady fundamentals in Q1 2026, supported by active tenant demand and limited large-scale availability. Net absorption totaled 1.9 million sq. ft. during the quarter, bringing cumulative absorption since Q1 2023 to 23.9 million sq. ft.. While quarterly absorption declined slightly quarter-over-quarter, leasing activity remained sufficient to tighten added availabilities. Vacancy decreased to 7.3%, down 30 basis points (bps) quarter-over-
quarter and 140 bps year-over-year, as availability also continued to trend lower. The construction pipeline grew 112.6% since Q1 2025, marking the highest volume of groundbreakings in over a year.

Renewal activity is expected to remain elevated in 2026 as a significant number of leases approach expiration, prompting tenants to remain in place amid constrained options. Big box availability above 500,000 sq. ft. remains notably scarce, causing supply limitations for larger users. Infill submarkets continue to attract consistent interest due to location and
operational efficiency.