MovementMortgage_OM_Sept 5

VACANT SPACE

Vacancy continues to tighten across the Charlotte metro

CHARLOTTE MARKET OVERVIEW

10 15 20 25

Vacant

Occupied

• Halfway through 2019, Charlotte has won the headquarters of newly formed Truist Bank as well as large corporate office centers such as Lowe’s, Honeywell, and Lending Tree • Net absoprtion at the end of the second quarter was 2.6 msf, which is already the highest net absorption Charlotte has ever seen in a given year • New construction has been 60% preleased • The overall gross asking rate increased 5.2% year-over-year • Year-to-date, Charlotte’s suburban submarkets absorbed 1.3 msf and has delivered 1.8 msf with 2.9 msf of construction in the pipeline

MSF

0 5

NET ABSORPTION/ASKING RENT

4Q Trailing Average

0 100 200 300 400 500 600 700 800 2014 2015 2016 2017 2018 2019 Net Absorption, 000's SF Asking Rent, $ PSF

$18 $19 $20 $21 $22 $23 $24 $25 $26 $27 $28 $29

North / I-77

OVERALL VACANCY

Northwest

University

14%

Plaza Midwood/ Noda

12%

CBD

East Charlotte

Midtown

Airport

10%

Park Road

Cotswold

South Park

8.9% Historical Average

8%

Matthews

South Charlotte

6%

South 485

York County

4%

North Lancaster County

2014 2015 2016 2017 2018 2019

CUSHMAN & WAKEFIELD

44