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Office Insight

United States | Charlotte, NC

Report | Charlotte Office Insight - Q2 2011

Summary

In January 2011, Charlotte’s unemployment rate peaked at 11.2 percent. Since then, the rate has been trending downward. Charlotte will likely see additional progress made this year; sustained job growth will be the key to seeing stability return to the local office market, as the region’s unemployment rate remains higher than the state’s (9.7 percent) as well as the nation’s (9.1 percent). Charlotte’s suburban submarkets outperformed the CBD during second quarter 2011, reporting more than 88,000 square feet of positive net absorption compared to the urban total of nearly 33,000 square feet of occupancy losses. On the year, however, activity has been evenly split.

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