New Headquarters prove Charlotte as a prime location for central business operations
CBD Class A asking rents have steadily increased in recent years, increasing 10% since 2017
June 26, 2019
- CBD Class A asking rents have steadily increased in recent years, increasing 10% since 2017. The value of class A office space in Charlotte has grabbed the attention of national credit tenants. Charlotte expects continued growth in Class A rents across all submarkets, with the most growth occurring in the CBD.
- Charlotte’s growth as an economic hub is illustrated by corporations moving their headquarters to Charlotte. In late 2018, LendingTree announced it will move its headquarters to South End. They plan to occupy 175,000 square-feet in at Spectrum Towers in South End.
- The $66 million SunTrust and BB&T merger, Truist, will lease 561,000 square-feet of Hearst Tower in Uptown. Truist will join Bank of America and Honeywell as major national headquarters in Uptown, and locally grown headquarters LendingTree and AvidXchange. The presence of local and national headquarters in Uptown and suburban Charlotte submarkets creates a healthy mix of economic development within the market.
Source: JLL Research