Charlotte Industrial Market Report

Northeastern suburbs benefit from cooling delivery slate. Charlotte’s total inventory grew by more than 10 percent over the past three years, as 30 million square feet delivered over that span. This supply influx pushed vacancy to 9.2 percent in March — the highest mark since early 2014. Yet relief could be coming, as deliveries in 2025 are set to decline to just over half of last year’s total, translating into a 1.7 percent stock increase. Most of the construction underway as of June is focused in northeastern submarkets like Rowan County, Cabarrus County and North Charlotte. These areas are well-positioned to absorb new supply after recording some of the strongest demand last year. Cabarrus County saw particularly strong net absorption in early 2025, helping local vacancy decline by 460 basis points year over year. Its tenant base — largely composed of smaller manufacturing and distribution companies — along with supply constraints tied to strained sewer capacity, has aided in insulating fundamentals.