5 Steps for Finding Office Space for Lease in Charlotte, NC

Charlotte, NC is one of the fastest growing cities in the United States. Combining a burgeoning economy, top-notch transportation systems, and beautiful views, it’s no wonder that businesses ranging from startups to large corporations are flocking to the greater Charlotte area. Finding the right space for your Charlotte office building is no small task, but our team at Regent CRE is here to help.

How to Find Office Space for Lease in Charlotte, NC

With dozens of office listings available in the local market, it can feel overwhelming to hone in just one. Throughout the landscape of the greater Charlotte area, its neighborhoods offer a variety of options, features, and opportunities.

The thriving Uptown district is home to major corporations, including the Bank of America headquarters, Wells Fargo headquarters, and the NASCAR Hall of Fame. As you venture out from the heart of Charlotte, you’ll find a diversity of industry, entertainment, dining, and adventure.

At Regent Commercial Real Estate, we’re committed to our clients – and this means knowing Charlotte like the back of our hand. With nearly 1000 completed lease and sales transactions and over a decade of experience in the Charlotte area, we understand what it takes to find the right space in one of the top markets in the U.S.

What should you concentrate on as you search for your perfect fit in the Charlotte office space market? Here are the most important steps.

1. Focus on the right neighborhood(s)

The Charlotte metro area is a diverse community. While some businesses prefer Uptown Charlotte for its convenient access, accessible public transport, and Class A buildings, others prefer the peacefulness and affordability of Fort Mill, the top talent in University City, or the easy access offered by Charlotte North.

The greater Charlotte area is also home to the Charlotte Douglas International Airport and many major highways and ring roads (including I-85 and I-485), making it a prime location for business travelers.

Here are some factors to consider when choosing a neighborhood for your office building.

Accessibility for employees

In fast-paced professional settings, convenience is key. Consider your location in light of your employees. Distance to work is just one factor when it comes to employee convenience.

What are the options for public transport? In the metropolitan area, the Charlotte Area Transit System offers transportation via bus, the LYNX Light Rail, the Gold Line streetcar, and more.

What about other conveniences? Many employees value work locations that are close to drive-thru restaurants, shopping centers, and other convenience stores, so they can easily complete errands on the way to or from the office.

You should also consider parking options (whether private lots or public parking) and bicycle parking for staff and potential visitors.

Distance to clients

If your business physically serves or meets with clients, you’ll also want to consider your target customer when choosing a location. For B2C companies, it’s imperative to be planted in a location that’s easy to access for your clients. And the more competition you have, the more important this is.

Building type and class

Different neighborhoods and locations offer different types of buildings. The range of office buildings is wide. From glass-lined skyscrapers with executive suites and large meeting rooms to modest, standalone buildings that fall into the Class B office space category, Charlotte and its surrounding cities offer a variety of options.

For Class A office space, you might start your search in Uptown, South End, Ballantyne, Blakeney, Concord, University City, the airport neighborhood, or the Lake Norman area.

If you’re looking for strategic locations in more affordable neighborhoods, the best places to start might be Fort Mill, Indian Land, Matthews, Indian Trail, Belmont, Gastonia, or Hickory.

2. Choose the right type of building for your work model

When choosing the best office space for your business, another major factor to consider is your work model (office-based, remote, or hybrid) and the type of setup you’ll need.

While office-based businesses may need a large conference room, private offices, and break rooms, companies with a hybrid work model generally thrive with flexible office spaces that offer open areas, natural light, and movable desks.

And while buildings with a lot of employees might enjoy large, creative spaces, small businesses in confidential industries – such as accounting firms and law offices – generally focus on more private office space, sometimes with soundproof rooms.

For businesses who do any type of industrial work or warehousing, or simply want a more flexible option, flex space is another popular type of space to consider.

3. Think about size and features

How much office space do you need per employee? The number of square feet you need depends on not just how many employees you have, but also the work model, equipment needed, and anticipated business growth over the next few years. Too much space leads to extra overhead costs, while too little inhibits productivity and makes employees feel frustrated.

In addition to size, consider important office features and amenities. Do you need spacious break rooms? Event space? High-tech security? On-site dining options?

4. Consider the lease terms

Commercial leases can be complicated, but it’s important to have a good understanding of the lease terms before signing for a property. Lease terms include more than just the length of the lease and monthly rental rates. They also specify numerous other details, including:

• The type of lease
• Renewal options
• Early termination options
• Rent escalation (how often and by how much)
• Maintenance and repair duties
• Permitted uses, including the right to sublease

Working with a tenant rep broker is the best way to make sure that there are no surprises within the many pages of lease terms. In addition, an experienced professional can provide expert negotiation to ensure that the lease terms are favorable to both parties involved.

5. Don’t forget due diligence

While due diligence can feel like a bump in the road when you’re eager to get into an office building, it can save your business from potentially significant headaches and legal hassles.

Due diligence is important for every type of commercial real estate, and office properties are no exception.

What is due diligence?

This process is a series of steps that allow for evaluation of the property to make sure everything is up to snuff. Generally, it includes pieces such as a financial analysis, an environmental inspection, a property condition assessment (PCA), a tax assessment, a market analysis, and a title review, to name a few portions of the process.

Thorough due diligence is important for making sure that the building is safe and ready for use. It can give you peace of mind in knowing that the systems (HVAC, plumbing, electrical) are up to date, there are no dangerous environmental concerns, and there are no legal issues.

Searching for an Office Property to Lease

With all of these factors to consider, how do you start the search for commercial property? Many lessees begin this process by utilizing an online commercial real estate listing source such as LoopNet. Online real estate marketplaces are a good source for finding properties, as they allow for search customizations to help you hone in on a space that fits your needs in the local office market.

However, there are a few downsides to relying solely on this type of platform to find your next office listing.

1. You may not have access to all of the available properties. Although online platforms are a good source of information, they don’t have access to all of the results that a tenant rep broker has. Combining professional, comprehensive search database tools and invaluable networking opportunities, commercial brokers often know about properties that may not yet be available to the public.
2. You miss out on important information about the locale. No matter how familiar you are with a city, few locals have the same type of birds-eye view on a real estate market as a full-time commercial broker. Committed brokers spend week in and week out focusing on the commercial market, including market trends and the strengths and weaknesses that each neighborhood offers.
3. You’ll need to do your research. While searching around for properties only takes a few clicks, certain steps in the leasing process – such as handling the lease agreement and conducting due diligence – don’t come as naturally. When you work with a commercial broker, you can let this person take care of the hard steps, so you can focus on your business.

Skip the Hard Parts – Hire a Tenant Rep Broker

Working with a qualified tenant rep broker has many benefits, from the start of your search to the signing of the lease agreement. Pros of working with a commercial broker include:

• Access to more properties
• Expert local knowledge
• Top-notch negotiation
• More time to focus on your business
• Peace of mind
• Guidance through the entire process
• No extra cost

Because commercial brokers receive a commission from the property owner or landlord, having a tenant rep broker on your team comes at no extra cost to you. If you don’t hire a broker, this sum of money simply goes back to the landlord. In other words, you pay the same amount either way.

Well, maybe.

Actually, while you don’t have to pay an extra to work with a broker, you do get to benefit from his or her expert negotiation skills, while also saving time and headaches in the process. So while you don’t pay more, you may pay less.

Related reading: How Do Commercial Real Estate Brokers Get Paid?

FAQs About Finding Charlotte Office Space for Lease

How much does office space cost in Charlotte?

The average cost of office space in the metro area is around $28 per square foot per year. 

Office space pricing can vary greatly depending on a variety of factors, including location, building class, amenities, size, and more. 

Find out specifics about the cost of office space in each Charlotte neighborhood.

What are the most important criteria for finding an office space to lease? 

1. The right neighborhood. This includes considering accessibility for employees, distance to clients, and what building types and classes are offered in the area. 
2. The right type of building for your work model. Do you need something that supports office-based, remote, or hybrid work? For office-based models, you may need large conference rooms and private offices, while hybrid models usually do best with open areas and flexible spaces. 
3. Ideal size and features. This includes the right amount of square footage per employee and amenities that support your workforce. 
4. Supportive lease terms. Negotiate lease terms that fit your business model. This includes the type of lease, renewal options, early termination options, permitted uses, and more. 
5. A properly inspected building. The due diligence process ensures that an office building passes environmental inspections, tax inspections, market analysis, and other steps so that there aren’t any unwanted surprises. 

What’s the best way to search for Charlotte office properties to lease? 

Online commercial real estate listing sources like Loopnet allow you to generate local listings that fit your criteria. However, working with a tenant representative will give you access to more properties as well as important information about the local area that can affect your lease. 

Is it better to rent or buy office space?

A major benefit of buying office space is that it offers the opportunity to build equity in the property. On the other hand, renting or leasing office space offers more flexibility for moving on in the future, doesn’t require a significant down payment, and involves less responsibility in terms of maintenance and upkeep. 

Ready to Start Your Search? Call Regent CRE

If you want the best chance of finding your perfect space in the greater Charlotte area, consider partnering with our expert team at Regent Commercial Real Estate. With nearly 1000 successful lease and sales transactions under our belt, we know Charlotte inside and out. From the northern cities around Lake Norman all the way down to Rock Hill, South Carolina, we’re committed to serving our clients all around the greater Charlotte landscape.

We know that your commercial space has a direct and significant impact on the success of your business. With prestigious real estate credentials and years of experience, we value the importance of taking the time to get to know your business model and your goals as we walk through each step of the process with you.

Are you ready to find your ideal office space? We’d be honored to assist you in your search. Contact us today to get started, or request your free custom market report for an initial list of potential properties.