Unemployment dropped more than 100 basis points from a year earlier to 9.4 percent
as the Charlotte MSA added more than 26,000 nonfarm jobs in 2012. With the successful
conclusion of fiscal cliff negotiations in Washington at the end of December, economists
predict modest growth for 2013.
The last three months of 2012 continued the trend started in the third quarter by
adding more than 300,000 square feet in positive net absorption for Charlotte Class
A and B office space, primarily attributable to new occupancy in the Uptown submarket.
Vacancy decreased to an overall rate of 17.1 percent.
Tightening supply will likely give rise to renewed interest and funding activity
in the development pipeline while rising asking rates suggest the return of more
favorable conditions for landlords.
VIEW THE FULL REPORT: RE:Source (a brief overview of market happenings with an eye towards overall market movements)
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