The Move to Charlotte
Charlotte, The Second-Largest Financial Center in the US
Charlotte, North Carolina is one of the fastest-growing cities in the United States and has supplanted Raleigh as the cultural and economic center of the state over the last two decades. Home to the corporate headquarters of Bank of America and prominent financial establishments such as Wells Fargo, Ally Bank, Charlotte is a major financial center for the upper Southeast region. A low unemployment rate, relatively affordable cost of living, and a host of events, nightlife, and cultural benefits make Charlotte an ideal location for businesses.
Discover the Growing Economy in Charlotte
Charlotte is the third-fastest growing city in the United States, with a current population of over 2.6 million people.
The population has been bolstered by a consistent influx of new residents, with 880,000 people moving to the area between 2005 and 2015. The city is also the proud home of NASCAR, one of the most popular sports franchises in the world, and features attractions such as the Coca-Cola 600, the US National Whitewater Center, Carrowinds Amusement Park, and the NASCAR Hall of Fame. Multiple high profile events take place in Charlotte each year, drawing tourists and travelers from all over the United States and beyond.
Strong Economic Performance Year Over Year
Charlotte has a strong track record for economic performance which has contributed to its reputation as a thriving metropolitan market.
This has persisted throughout the pandemic recovery as well with the city boasting a net job gain of 15,100 in the third quarter of 2021 – outpacing many other metropolitan areas. In addition, the city’s unemployment rate (4.3%) and an impressive $1.56 billion in capital investment in the third quarter of 2021 alone further illuminate a strong economic foundation.
Throughout the pandemic, Charlotte remained steady posting a GDP of $184 Billion in 2020, an increase from the previous year. This economic consistency has paid dividends to the city, which has become the second-largest banking center in the United States, following New York City.
Finance is not the only industry thriving in Charlotte. The city is also home to seven Fortune 500 companies — Bank of America, Honeywell, Nucor, Lowe’s, Duke Energy, Sonic Automotive, and Brighthouse Financial. In addition to this growing roster of prominent firms, Charlotte maintains a vibrant community of small and medium-sized businesses.
Charlotte's Competitive Leasing Market
The Charlotte commercial office market is the 35th largest in the US. While the office market is concentrated, it is continuously expanding. Growth targets remained insulated from the impacts of the pandemic with a year over year growth of 2%. Currently, the city boasts 4.6 million square feet of office space under construction in the Charlotte metro area with 69% of product pre-leased. Current vacancy rate in Charlotte stands at 14.8%, providing an ample opportunity for businesses looking to relocate or create a satellite office. Contact CP Group to see available office spaces in Charlotte.
Harris Corners
Consisting of one four-story and two five-story Class-A office buildings prominently situated at the intersection of W.T. Harris Blvd. and I-77.
This office park provides excellent visibility and unmatched access to I-77 and I-485.
