How does the Charlotte sublease market compare to peer markets?

– In the Charlotte industrial market, there are just under 30 msf available, with approximately 2.2 msf available for sublease, making up about 7.5% of the total. This is slightly above the previous 3-year average of 6.7%, but inventory growth has more than doubled in the past year compared to the previous 3 years average.

– Comparable industrial markets, such as Indianapolis, Boston, Denver, Greenville-Spartanburg, and Minneapolis-St. Paul, have similar or higher ratios, reaching over 20% in some cases. Charlotte has the lowest ratio among these markets, indicating that occupiers are maximizing their space needs, resulting in less excess space available for sublease.