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Office Insight

United States | Charlotte, NC

Report | Charlotte Office Insight - Q1 2011

Summary

Without a new increase in space demand resulting in an uptick in leasing activity, the Charlotte office market is expected to only see gradual reductions in vacancies through 2011. HVM’s recent relocation announcement into what is expected to be approximately 63,000 square feet in the Everett Building of Ballantyne Corporate Park in the Highway 51 / Ballantyne submarket, will be a good start to second quarter activity, should the deal be signed as anticipated. As expected, the overall average price declined for the fourth quarter in a row to $21.02 per square foot, and is forecasted to continue to fluctuate until it begins to steadily recover.

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