While the national office construction market continues its sharp decline, Charlotte is emerging as a bright spot in the shifting commercial real estate landscape.
According to new data from CommercialEdge, total U.S. office space under construction in 2025 has dropped to 51 million square feet — the lowest level in a decade, following a 48% year-over-year decline. However, Charlotte continues to buck that trend with several high-profile developments underway.
The Queen City currently has 500,000 square feet of office space under construction, representing 0.7% of its total office stock. That includes one of the top 10 largest office projects in the nation set for completion in 2025 — Vanguard’s 700,000-square-foot development at 2405 Governor Hunt Road.
Charlotte also ranks sixth among the fastest-growing medical office markets in the U.S., with 462,000 square feet under construction — a 5% increase in stock. The largest local medical office project is The Pearl – Research Tower, a 356,000-square-foot facility that ranks as the fourth-largest medical office project nationwide this year.
Beyond office and healthcare developments, Charlotte is experiencing significant industrial growth. The region currently has 5.9 million square feet of industrial space under construction. Among these projects, 1305 Liberty Ridge Road — a 2.1 million-square-foot facility — ranks as the 11th-largest industrial development in the U.S. for 2025.
The slowdown in national office construction is largely attributed to the rise of hybrid and remote work, which continues to dampen demand for traditional office space. But Charlotte’s diversified approach — spanning office, medical, and industrial sectors — positions the city as a resilient and rapidly evolving commercial hub.
