The Charlotte Region saw record levels of office development in 2021. According to this report by the Charlotte Regional Business Alliance® Research Team, high employment and population growth during the previous decade helped lead nearly 5 million square feet of office space to the market in 2021. This led the nation and provided the market with plenty of high-quality office space in proximity to amenities. Given the competitive labor market, this is exactly the type of product that many firms are seeking to try to retain and attract talent.
Tech is driving the rebound in office demand and the Charlotte market is well-positioned to benefit. The Charlotte Region’s workforce has grown by 6% since 2019 and was recognized by CBRE as the market “most resilient and poised for growth” among the top 30 tech markets. With the Charlotte Region’s positioning in tech and its long history in the finance industry, the region is transforming into a fintech hub, as the banking, mortgage, and insurance industries become increasingly tech focused.
The industrial market in the Charlotte Region had a record-setting year in 2021, driven by demand for logistics space. The growth of logistics in the region has been particularly strong due to its strategic location near both ports and population centers.
For a deeper dive into the communities seeing the highest demand, a closer look at the rise of tech job growth in the region, and the influential announcements driving economic development, click here.
