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Charlotte, NC - Office Space for Lease

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Charlotte, NC Office Overview

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The Charlotte office market includes the Charlotte Downtown, Eagle Lake, and Dilworth 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 while collar office space in Charlotte.

As of mid-2017 the Greater Charlotte office market encompasses nearly 55 million square feet of existing office space in properties larger than 50,000 square feet. Charlotte 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 office space.

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 white collar office employment. Nearly 65% of the office space in Charlotte is Class A or A+, with Class B office inventory adding another 34% of office inventory to the Charlotte commercial real estate market.

The Fourth Ward office submarket in Charlotte is home to some of the most prestigious Class A office space in the city. Strategically centered between Johnson & Wales University, Comerica Stadium, I-277 and the Charlotte Transportation and Convention Centers, this office market is home to trophy office property such as the Fifth Third Center and the Ally Center office buildings.

Charlotte, NC Commercial Inventory Breakdown

Office Spaces

Total: 70,152,133 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 9,773,821 SF / 13.93% of total office
  • 100k to 500k SF: 40,318,850 SF / 57.47% of total office
  • 500k to 1M SF: 12,812,204 SF / 18.26% of total office
  • > 1M SF: 7,247,258 SF / 10.33% of total office

By class:

  • Class A+: 8,412,797 SF / 11.99% of total office
  • Class A: 31,802,351 SF / 45.33% of total office
  • Class B: 22,114,018 SF / 31.52% of total office
  • Class C: 982,614 SF / 1.4% of total office

Top 10 Largest Office Buildings

in Charlotte

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
Bank of America Corporate Center 100 North Tryon Street, 28202 1,143,752 1990
Camp North End - Future Phases - Offices SEC Statesville Avenue & Woodward Avenue, 28206 1,050,000 n/a
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
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

Most Recently-Built Office Buildings

in Charlotte

Office building Address Sqft Year built
300 South Tryon 300 South Tryon Street, 28202 652,685 2017
615 South College 615 South College Street, 28202 378,643 2017
Ballantyne Corporate Park - Brigham Building 11625 North Community House Road, 28277 287,507 2017
Capitol Towers - North Office Tower 4350 Congress Street, 28209 245,051 2017
AvidXchange Headquarters 1210 AvidXchange Lane, 28206 201,450 2017
500 East Morehead 500 East Morehead Street, 28202 178,260 2017
Lakepointe Corporate Center - Sealed Air Headquarters III 2405 Cascade Pointe Blvd, 28208 167,500 2017
Lakepointe Corporate Center - Sealed Air Headquarters I 2415 Cascade Pointe Blvd, 28208 109,000 2017
Lakepointe Corporate Center - Sealed Air Headquarters II 2425 Cascade Pointe Blvd, 28208 109,000 2017
Charlotte VA Health Care Center 3506 West Tyvola Road, 28208 295,000 2016

Charlotte, NC Green Office Space

Employment

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 in Charlotte is a prime example of green Class A office property. Constructed in 2009 this 1.3 million square foot office building was the first high-rise office building to be awarded the prestigious LEED Platinum certification.

The National Green Building Adoption Index for 2017 surveyed office buildings in the 30 largest U.S. markets and found that the percentage of green certified building 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 office space and commercial real estate in Charlotte, NC.

  • Financial Services – Charlotte is home to the East Coast operations of Wells Fargo Bank and the Bank of American headquarters.
  • Energy – Siemens Electric, Duke Energy, Babcock & Wilcox, Fluor, and Piedmont Natural Gas are just some of the energy companies that create demand for Class A white collar office space in Charlotte.
  • 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 – The demand for white collar Class A office space in Charlotte also comes from a diverse blend of companies including Chiquita Brand International, Carolina Foods, Coca-Cola Bottling Company, Toshiba, and Westinghouse.

    Charlotte Demographics

    Population

    • Total Population792,137
    • Male Population(48.0 %) 380,065
    • Female Population(52.0 %) 412,072
    • Median Age33.70

    Income/Financial

    • Average Household Income$80,960
    • Median Household Income$53,637
    • Median Income Under 25$26,104
    • Median Income 25-44$56,537
    • Median Income 45-64$62,025
    • Median Income Over 65$40,342

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