Charlotte finished 2001 with an overall vacancy level of 17.3%, up from 15.5% in the third period, according to a new report from CB Richard Ellis Inc.
Net absorption was a negative 37,996 sf in the fourth quarter, making the annual total 500,668 sf or an 80% drop in overall leasing activity compared to 2,527,859 sf leased in all of 2000.
"Leasing activity has clearly slowed over the past year, especially in suburban space," Ryan D. Clutter, an investment properties associate in CBRE's Charlotte office, tells GlobeSt.com. Clutter authored the October-December analysis.
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