Charlotte Office Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from Cushman & Wakefield, CBRE, JLL, Savills, Newmark, Lee & Associates
Quarterly office market indicators for Charlotte, aggregated by CREhunt from Cushman & Wakefield, CBRE, JLL, Savills, Newmark, Lee & Associates. As of Q2 2026, average asking rent was $35.23/SF/yr and vacancy was 23.9%, per Cushman & Wakefield.
Projected current office pricing — Charlotte
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q2 2026 multiple brokerages data (cap rate 8.0%, asking rent held flat). Assumes ~77% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 Cushman & Wakefield | $35.23/SF/yr | 23.9% | 299K SF | — | Cushman & Wakefield |
| Q2 2026 CBRE | $36.95/SF/yr | 23.0% | — | — | CBRE |
| Q1 2026 Cushman & Wakefield | $34.81/SF/yr | 24.2% | 146K SF | — | Cushman & Wakefield |
| Q1 2026 JLL | $35.58/SF/yr | 21.6% | 386K SF | — | JLL |
| Q1 2026 CBRE | $36.81/SF/yr | 25.1% | 410K SF | — | CBRE |
| Q4 2025 CBRE | — | — | — | 401K SF | CBRE |
| Q4 2025 Cushman & Wakefield | $34.21/SF/yr | 24.6% | — | — | Cushman & Wakefield |
| Q4 2025 Savills | — | — | 1.2M SF | — | Savills |
| Q4 2025 Newmark | $34.39/SF/yr | 27.7% | 96K SF | — | Newmark |
| Q3 2025 Cushman & Wakefield | $34.59/SF/yr | 25.4% | — | — | Cushman & Wakefield |
| Q3 2025 Newmark | $34.19/SF/yr | 28.5% | 45K SF | — | Newmark |
| Q2 2025 Cushman & Wakefield | $34.41/SF/yr | 26.1% | — | — | Cushman & Wakefield |
| Q1 2025 Cushman & Wakefield | $34.61/SF/yr | 25.2% | -91K SF | — | Cushman & Wakefield |
| Q1 2025 Newmark | $34.06/SF/yr | 27.8% | — | — | Newmark |
| Q4 2024 Cushman & Wakefield | $34.30/SF/yr | 24.6% | — | — | Cushman & Wakefield |
| Q4 2024 Newmark | $33.99/SF/yr | 28.3% | — | — | Newmark |
| Q3 2024 Lee & Associates | $32.99/SF/yr | 14.2% | — | — | Lee & Associates |
| Q2 2024 Newmark | $34.40/SF/yr | 25.7% | — | — | Newmark |
| Q1 2024 Newmark | $33.64/SF/yr | 25.3% | — | — | Newmark |
| Q4 2023 Newmark | $33.38/SF/yr | 25.3% | — | — | Newmark |
| Q3 2023 Newmark | $33.51/SF/yr | 23.8% | — | — | Newmark |
| Q1 2022 Newmark | — | 18.8% | 120K SF | — | Newmark |
| Q4 2020 Cushman & Wakefield | $28.96/SF/yr | 13.2% | — | — | Cushman & Wakefield |
| Q2 2020 Cushman & Wakefield | $29.60/SF/yr | 10.9% | — | — | Cushman & Wakefield |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Charlotte office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Airport | $28.18/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| East | $25.19/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| FreeMoreWest | $42.56/SF/yr Cushman & Wakefield · Q4 2025 | Cushman & Wakefield, Q4 2025 |
| I-485 South | $41.28/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| I-77/Airport | $27.48/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Midtown | $47.39/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Midtown/Southend | $47.62/SF/yr Cushman & Wakefield · Q4 2024 | Cushman & Wakefield, Q4 2024 |
| North | $31.10/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| North End | $42.22/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Northeast/I-77 | $29.84/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Northeast/University | $28.42/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Northwest | $42.03/SF/yr Cushman & Wakefield · Q4 2024 | Cushman & Wakefield, Q4 2024 |
| Park Road | $34.84/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Plaza Midwood/NoDa | $46.34/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| South Carolina | $29.57/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| South Charlotte | $28.91/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| South/485 | $40.59/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| South/485/Ballantyne | $36.77/SF/yr Cushman & Wakefield · Q4 2025 | Cushman & Wakefield, Q4 2025 |
| SouthPark | $40.45/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| University | $26.99/SF/yr Cushman & Wakefield · Q2 2026 | Cushman & Wakefield, Q2 2026 |
| Uptown/CBD | $40.01/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for Charlotte office did not fully agree. On vacancy, the sources span 0.9 points — from 23.0% (CBRE) to 23.9% (Cushman & Wakefield). Asking-rent estimates differ by $1.72/SF/yr — from $35.23/SF/yr to $36.95/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| CBRE | 23.0% | $36.95/SF/yr | — |
| Cushman & Wakefield | 23.9% | $35.23/SF/yr | — |
Per-brokerage figures for Q2 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for office space in Charlotte?
- As of Q2 2026, the average asking rent for office space in Charlotte was $35.23/SF/yr, per Cushman & Wakefield.
- What is the office vacancy rate in Charlotte?
- The office vacancy rate in Charlotte was 23.9% as of Q2 2026 (Cushman & Wakefield).
- Where does CREhunt's Charlotte market data come from?
- This report aggregates quarterly office market data for Charlotte from Cushman & Wakefield, CBRE, JLL, Savills, Newmark, Lee & Associates.
- How much do brokerage estimates differ for office space in Charlotte?
- For Q2 2026, the brokerage sources CREhunt aggregates for Charlotte did not fully agree. On vacancy, the sources span 0.9 points — from 23.0% (CBRE) to 23.9% (Cushman & Wakefield). Asking-rent estimates differ by $1.72/SF/yr — from $35.23/SF/yr to $36.95/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.