East Charlotte
Q4 2018
Creative space breathes new life in former mills
Quick Stats
Inventory (s.f.)
(percent of total market)
Q4 2018
1,113,023
(2.1%)
Total vacancy 18.7%
Direct vacancy 18.6%
YTD total net absorption (s.f.) -17,864
Under construction 165,720
YTD completions (s.f.)
0
Overall average asking rent $15.90
Class A average asking rent $0.00
Class B average asking rent $15.90
Rent vs Vacancy
• Chadbourn, the 40,000 square foot former silk
hosiery mill, is being converted to creative office, a $23.00
three minute walk to the 25 th Street Light Rail stop. $21.00
• Camp North End has made big strides in their
development, expanding their tenant mix to 28
unique companies, with plans to add more.
• Within East Charlotte, Noda’s multifamily
development pipeline has 1,792 units under
construction, trailing only South End for the most
of any micro market. The multifamily activity
coupled with the Lynx Blue Line has enabled office
projects to forge forward and transform East
Charlotte from a sleepy submarket into a creative
destination.
18.0%
17.0%
$19.00
16.0%
$17.00
15.0%
$15.00
14.0%
$13.00
13.0%
$11.00
$9.00 12.0%
$7.00 11.0%
$5.00
2014
2015
2016
Rent
2017
Q3 2018
10.0%
Vacancy
Absorption vs Construction
250,000
200,000
150,000
100,000
50,000
0
2014
2015
2016
2017
YTD 2018
-50,000
Net absorption
Construction Completions
23