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. |
BAD MOON ON THE RISE
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Art Gering
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