Charlotte’s office vacancy rate dipped 0.1 percent in the fourth quarter, to 14.3 percent, according to real estate analysis firm Karnes. But within different markets, there is a huge variation.
Midtown has the lowest vacancy rate, at 7.5 percent. Uptown, the largest office submarket by far, has the third-lowest rate, at 11.2 percent.
But on the other end of the spectrum, the Park Road submarket had a vacancy rate of 23.3 percent, while east Charlotte’s rate clocked in at 25.9 percent, the highest in the city. That means more than a quarter of the office space in that submarket is empty.
Here’s how the city’s submarkets stack up:
As you can see, the highest is in East Charlotte, and the lowest is Midtown (mouse over for exact rates).