Charlotte Industrial Market Report

Rising prominence as an intermodal hub aids long-term demand. From January through May, the Port of Savannah hosted shipment volumes that were 13 percent above the same frame of last year. Additionally, this March, the Port of Virginia completed a $450 million expansion. Being directly linked to both by rail lines, Charlotte’s industrial sector should receive long-term demand from omnichannel retailers, logistics providers and wholesale distributors, especially if regional trade volumes remain on the upswing. The Port of Wilmington’s new intermodal facility, slated to open in 2025, enhances the potential of this trend. In the meantime, however, property metrics will continue to recalibrate as the metro sets a new all-time high for completions for the third straight year. Fortunately, a thinning pipeline beyond 2024 will better position recent deliveries to secure tenants, stabilizing vacancy and reigniting rent growth over time.