|A genuine recovery is under way in the Charlotte office market, though not every submarket has the same vigor. During a recent chat, Cassidy Turley regional managing principal Steve Gassaway gave us five prominent trends for Charlotte CRE:|
1. CAPITAL INFLUXCapital is focusing on Charlotte CRE. (So make sure to put on your Sunday best.) All product types are selling, and the office sector has been particularly active in 2012. Buyers include pension funds,private equity, and foreign buyers, all seeking higher yields than in gateway markets.
2. WINNING SUBMARKETS
Like many national office markets, several of Charlotte's submarkets have come out on top through the downturn—CBD, Midtown,Southpark, and Ballantyne. This has come at the expense of other submarkets, several of which include buildings that are becoming locationally and functionally obsolete. Read more after the break.