Development

Want vacant office space? Depends where you look in Charlotte

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).

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