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Market Report

Charlotte Office Market Report

2Q 2022

Pandemic-Era Shifts in Local Hiring to
Materialize in Performance Improvements

Labor market composition to aid office property performance. Charlotte's job base saw structural changes during the health crisis that have boosted the outlook for office assets in the metro. The first quarter of 2022 recorded the largest number of new job announcements in three years, highlighted by Fintech entrants like Robinhood and Credit Karma, as well as large traditional banks. The metro reported financial services job growth at a pace more than double the national rate during the yearlong stretch ended in March. Both financial services and life sciences employment figures were ahead of pre-pandemic levels, and technology-related job openings were at their highest measure in 12 months. These industries are major fillers of office space nationally in recent years, which should translate into heightened leasing once in-person operations return.
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