Vacancy levels show stability despite remaining elevated
Charlotte's industrial market vacancy has entered a more balanced phase as leasing demand improves while elevated supply continues to pressure market fundamentals. Large, modern distribution facilities are driving the recovery, whereas demand for mid-size and older properties remains softer, contributing to higher availability and greater tenant leverage. Construction activity has slowed following 46.4 million square feet (msf) of deliveries between 2021 and 2025. Although vacancy remains elevated at 11.5%, improving absorption and reduced development activity are expected to gradually tighten market conditions through the remainder of 2026. With asking rents still growing at 1.2% annually and investor demand returning, Charlotte remains well positioned heading into 2027.