Hwy 51/Ballantyne
Q4 2018
Retail portion of Waverly development sold, the blueprint for
suburban development
Quick Stats
Inventory (s.f.)
(percent of total market)
Q4 2018
6,175,088
(13.09%)
Total vacancy 10.0%
Direct vacancy 9.0%
YTD total net absorption (s.f.)
Under construction
20,354
347,831
YTD completions (s.f.)
0
Overall average asking rent $32.14
Class A average asking rent $33.30
Class B average asking rent $24.10
• Xenial, a subsidiary of Heartland Payments, leased
50,496 SF at Trinity Partner’s latest development,
Toringdon 7.
• The Waverly retail lifestyle center sold in December
for a reported $66 million dollars to a joint venture
between Denver based Acentris and Childress Klein.
The lifestyle center has provided Charlotte with a
blueprint for a new age of all-encompassing
experiential development in the suburbs.
• The last — and tallest — building at Toringdon
Office Park in south Charlotte has topped out,
marking the midway point of construction.
Rent vs Vacancy
$34.00
$32.00
$30.00
$28.00
$26.00
$24.00
$22.00
$20.00
2014
2015
2016
Rent
2017
2018
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
Vacancy
Absorption vs Completions
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
-
2014
2015
Net absorption
20
2016
2017
Construction Completions
2018