Charlotte, NC Office Overview
The Charlotte office market includes the Ballantyne, Center City, South Charlotte and Uptown Charlotte submarkets. With a metropolitan population of over 2.4 million people, the economy in the metro area is driven by the financial services, motorsports, and energy industries, resulting in a dynamic demand for office space in the city.
As of mid-2017 the Greater Charlotte market encompasses nearly 55 million square feet of office space in properties larger than 50,000 square feet. It is the largest city in North Carolina and has been recognized as one of the country's fastest growing metropolitan areas, generating a strong demand for Class A product.
Charlotte, NC Office Inventory Description
Charlotte is known as a major financial center in the U.S. and is the second-largest banking center in the country after New York City. With a gross metropolitan product of $132 billion there is consistently strong demand for office employment. Nearly 65% of the office inventory in the city is Class A or A+, with Class B properties making up another 34% of overall inventory.
The Fourth Ward submarket in Charlotte is home to some of the most prestigious Class A assets. Strategically centered between Johnson & Wales University, Comerica Stadium, I-277 and the Charlotte Transportation and Convention Centers, it’s home to buildings such as the Fifth Third Center and the Ally Center.
Charlotte, NC Commercial Inventory Breakdown
Total: 88,174,300 SF
By square footage range:
- 50k to 100k SF: 11,307,714 SF / 12.82% of total office
- 100k to 500k SF: 47,506,860 SF / 53.88% of total office
- 500k to 1M SF: 14,137,468 SF / 16.03% of total office
- > 1M SF: 15,222,258 SF / 17.26% of total office
- Class A+: 9,439,397 SF / 10.71% of total office
- Class A: 37,640,474 SF / 42.69% of total office
- Class B: 21,825,843 SF / 24.75% of total office
- Class C: 1,330,650 SF / 1.51% of total office
Top 10 Largest Office Buildings
|Office building||Address||Sqft||Year built|
|Wells Fargo Customer Information Center||1525 West W. T. Harris Blvd, 28262||1,438,995||1996|
|Duke Energy Center||550 South Tryon Street, 28202||1,340,146||2009|
|One Bank of America Center||150 North College Street, 28202||1,254,293||2010|
|526 South Church Street||526 South Church Street, 28202||1,020,072||1975|
|One Wells Fargo Center||301 South College Street, 28202||981,678||1988|
|One Wells Fargo Center||301 S College St, 28202||978,475||1988|
|Hearst Tower||214 North Tryon Street, 28202||970,002||2001|
|Three Wells Fargo Center||401 South Tryon Street, 28202||930,733||1999|
|Bank of America Plaza||101 South Tryon Street, 28280||891,000||1973|
|Bank of America Tower||620 South Tryon Street, 28202||868,064||2019|
Largest Office Properties Recently Completed
|Office building||Address||Sqft||Year built|
|Ally Charlotte Center||601 South Tryon Street, 28202||743,600||2021|
|Lowe's Global Technology Center||100 West Worthington Avenue, 28203||377,956||2021|
|Legacy Union - 650 South Tryon||650 South Tryon Street, 28202||367,000||2021|
|Ballantyne Corporate Park - 13146 Ballantyne Corporate Place||13146 Ballantyne Corporate Place, 28277||328,000||2021|
|Vantage South End - West Tower||1415 Vantage Park Drive, 28203||326,800||2021|
|FNB Tower - Charlotte||401 South Graham Street, 28202||326,000||2021|
|The Line||2151 Hawkins Street, 28203||305,000||2021|
|Honeywell Tower||700 South Mint Street, 28202||304,250||2021|
|Kenilworth Medical Plaza||1225 Harding Place, 28204||281,148||2021|
|Lower Tuck||929 Jay Street, 28208||260,000||2021|
Charlotte, NC Green Office Space
While not yet ranking in the Top 30 Green Office Markets in the U.S., green office space in Charlotte is growing, with numerous LEED certified projects scattered throughout the metropolitan area.
The Duke Energy Center Building at 550 South Tyron Street is a prime example of green Class A property. Constructed in 2009 this 1.3 million-square-foot property was the first high-rise to be awarded the prestigious LEED Platinum certification.
The National Green Building Adoption Index for 2017 surveyed buildings in the 30 largest U.S. office markets and found that the percentage of green certified properties has increased from less than 5% in 2005 to approximately 38% as of mid-2017.
Charlotte, NC's Top Office-Using Sectors
The financial services, energy, motorsports and numerous Fortune 500 companies all combine to create powerful demand for Class A buildings and commercial real estate in Charlotte.
- Financial Services – Charlotte is home to the East Coast operations of Wells Fargo Bank and the Bank of American headquarters.
- Energy – includes firms such as Siemens Electric, Duke Energy, Babcock & Wilcox, Fluor, and Piedmont Natural Gas.
- Transportation & Motorsports – Continental Tire, Meineke Car Car Center, NASCAR, and the Charlotte Motor Speedway all significantly impact the commercial real estate market in the city.
- Corporate Offices – companies including Chiquita Brand International, Carolina Foods, Coca-Cola Bottling Company, Toshiba, and Westinghouse.
Frequently Asked Questions
How much does office space cost in Charlotte, NC?
The average office rental rate in Charlotte, NC is $28.38 per square foot. Asking prices vary based on the property’s location, overall rating, amenities, proximity to restaurants, cafes and entertainment venues, as well as public transport, airports and highways. Check Charlotte Office Market Trends for more stats.
What is the size of available office spaces in Charlotte, NC?
The Charlotte, NC office market can accommodate various businesses, sporting a range of office space availabilities. The average size of office space availabilities is 181,747 square feet. If you’re just starting out as a company or as an entrepreneur, the smallest available office space in Charlotte, NC is 112 square feet, while the maximum rentable space on the market now is 363,382 square feet.
How do I get office space in Charlotte, NC?
Start your search for office space in Charlotte, NC by using our filters that allow you to find the best space for your business needs. Filter listings by location, property size, available space or lease rate. Property pages will offer details about an office building’s rating, year built, availabilities, price per square foot and more. After drawing up a shortlist, make sure you contact the listed broker(s) to schedule a viewing and begin the negotiation process for your lease contract.
How many office listings are available in Charlotte, NC?
There are 762 office listings on the Charlotte, NC market. See all available office spaces for rent.
Where to rent an office space in Charlotte, NC?
What other property types are available for lease in Charlotte, NC?
In addition to traditional office spaces, commercial real estate listings on our platform also include coworking & shared office space options, retail spaces, industrial buildings, warehouses, distribution facilities, and more.
- Total Population857,425
- Male Population(48.1 %) 412,035
- Female Population(51.9 %) 445,390
- Median Age34.20
- Average Household Income$94,512
- Median Household Income$62,817
- Median Income Under 25$32,393
- Median Income 25-44$65,990
- Median Income 45-64$73,196
- Median Income Over 65$47,632
Decade in Review: Office Building Sales Total $873 Billion Since 2010
February 04, 2020
A decade is a long time, and so much has occurred in our country and around the world in the last 10 years. In particular, rising real estate prices have been one of the prevailing themes throughout the 2010s. Coming off the heels of the Great Financial Crisis, the U.S. economy has trended upwar...
What It Costs to Rent in the Top 10 Cities for Startups in the U.S.
January 29, 2020
Back in June, CommercialCafe came out with the Top Cities for Startups in the United States, in which we analyzed data of the 50 most populous cities in the country to determine which 20 cities were best for early-stage startups. Working professionals with years of experience, as well as talente...
We analyzed the top 50 U.S. office deals of 2019, and the results show an increased investor appetite for trophy assets outside of New York City. In particular, it was Class A office spaces in California—particularly in the Bay Area—and Washington’s Seattle and Bellevue areas that attracted most...