BAD MOON ON THE RISE
Good news if you need an empty building to change in between your two jobs. Charlotte office vacancy is reaching precipitous levels, thanks to sluggish job growth, Marcus & Millichap?s Art Gering tells us. The private sector failed to generate significant new space requirements through the first half of 2011, when vacancy jumped to more than 16%. Meanwhile, developers have completed a mere 300k SF of for-lease space in the past year, down from 1.7M SF for the same period last year. Rental rates were flat, Art says, at a citywide average asking price of $21/SF.