Figures

Charlotte Office Figures Q4 2025

January 16, 2026 5 Minute Read

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     - The market recorded a total vacancy rate of 25.4% in Q4 2025, reflecting a 75-basis point (bps) decrease quarter-over-quarter. Class A vacancy fell 91 bps to 23.4%, supported by stronger absorption in prime assets, totaling 510,627 sq. ft. during the quarter. This brings year-to-date absorption to 277,189 sq. ft., a 327% increase from the prior year.

- Leasing activity remained elevated, with 5.2 million sq. ft. transacted in 2025, including 3.9 million sq. ft. of new leases or expansions. Notable commitments this quarter included Scout Motors’ 143,903 sq. ft. lease at Commonwealth in North End and American Express’ 90,816 sq. ft. lease at Legacy Union Phase IV.

- Prime direct asking rents increased 8.8% increase year-over-year, with double-digit rent growth in the urban core supported by consistent large-block leasing activity in 2025.

- Construction volume increased at Queensbridge Collective, where the office footprint expanded by two floors, bringing the total space under construction to 401,000 sq. ft. Nearly 70% of year-to-date deliveries were pre-leased, signaling strong tenant demand for prime and Class A space, despite elevated overall market vacancy levels.