Lease Office Space in Charlotte, NC, With Zero Hassle

The growing city of Charlotte and its surrounding areas are well-loved for their beautiful views, friendly neighbors, and rewarding business opportunities.

Charlotte is home to some of the largest banking hubs in the country, including the Bank of America headquarters, making it the second largest banking center in the country (after New York City).

Unlike New York City, however, Charlotte’s streets are filled with small-town charm and friendly faces. Its downtown and suburban areas are filled with growing businesses, exciting new startups, mouthwatering food choices, craft breweries, and more. This combination of thriving business opportunities and a welcoming, historical atmosphere make Charlotte an excellent place to both live and work.

Charlotte is also home to the Charlotte Douglas International Airport, which is known for being one of the 10 most connected airports in the world. Located near the business district, this interconnected airport makes it easy to connect with other professionals whether you’re coming or going.

If you’re considering renting or buying office space in the Charlotte area, it’s important to take into account your specific needs in choosing your space. Not all office space is created equal, and having a space that fits your needs will go a long way in running a productive and thriving company.

At Regent Commercial Real Estate, it’s of the utmost importance to us to work with our clients to identify a space that best fits your business endeavors. Here are some of the categories that are most important to consider for professionals searching for office space in the Charlotte area.

How can you identify the quality of an office space option? Office spaces are grouped into a subjective framework and are considered either Class A, Class B, or Class C spaces. Typically, the qualities that determine the grouping of an office building include the building’s age, location, infrastructure, the quality of its systems (like HVAC and electrical), available technologies, and other amenities.

Class A office spaces are the highest quality options in terms of office space. They may boast amenities like marble floors, high-tech security, and high-quality elevator systems. These options are often new or recently updated. However, they can also be older but well-maintained spaces that boast beautiful architecture and are well established in popular areas. These high-quality, well-managed spaces are rightly on the highest end of the budget when it comes to office space.

Class B spaces are generally functional buildings that are well maintained and located in areas that may not be right in the middle of the action, but are still widely accessible. These buildings may look more modest than Class A spaces, but they are still easy-to-use, comfortable work spaces.

Amenities may include on-site parking, conference rooms, and a cafeteria space.

Lastly, Class C spaces are offices that are usually located in less desirable areas, may need some maintenance, or are largely outdated. These spaces are often purchased by investors who are looking for a fixer-upper project to take on. Often, they need technology updates or structural renovation.

Class C spaces are often used for businesses who work offsite and need a home base. Understandably, they are the most budget-friendly spaces and have low rental rates. Still, it is important to consider the investment cost of any necessary updates and repairs that will need to be made when considering a Class C office space.

Building quality, location, size and layout, and the price of your office space should all be major considerations to take into account when choosing a space to use. Additionally, the decision about whether you rent, lease, or buy your office space is an important factor when considering your next steps.

Each decision has its pros and cons. At Regent Commercial Real Estate, this choice is an important factor that we discuss with each of our clients who are forming their next plans for finding office space.

Renting office space offers the greatest amount of flexibility from these three options. Most rentals offer shorter-term options in comparison to leasing or buying. This provides room to pivot and change plans more easily when needed without being stuck in a long commitment. Because of this, renting tends to be an excellent option for new business startups and small businesses, freelancers, or anyone who prefers the ease of moving often or on short notice.

Other benefits of renting are that there are generally fewer responsibilities with this option. If your goal is to head to the office each morning and leave each night without having to worry about building upkeep and maintenance, renting is probably for you. You may also be able to rent a nicer property in a nicer area than you could afford to buy.

A main downside of renting is that you won’t build equity. In addition, you may not have control over your rental rates, and rent may increase over time. Additionally, renters are never promised excellent landlord relationships, so this can be a factor of frustration for some (or, you may have a great relationship with your landlord!).

Leasing office space is sometimes confused with renting office space. The two are very similar options compared to buying, but they do have a few major differences.

In general, office space leases are often signed for longer periods of time than rentals. On top of this, those who lease usually have more responsibilities for the property compared to renters.

There are four main types of leases:

• Gross/Full Service Lease
• Net Lease
• Modified Gross Lease
• Percentage Lease

Finding out the type of lease that your potential landlord is offering will help you to determine the specifics of your contract. It’s important to make sure that you fully understand your contract and the terms of the lease before signing an agreement. This is where having an experienced tenant representative professional in the field of commercial real estate can save you hundreds or thousands of dollars over time (and it probably won’t cost you any more to have one!)

The pros of leasing are that you have less responsibility for the property than you would if you were buying.

The downsides, however, are that you will not be able to build equity on the property, nor will you be able to make unlimited changes or upgrades, since you’ll need to check with your landlord first in most cases.

The last option is to buy your office space. Most notably, a major benefit of buying your own office space is that you can do whatever you want with it. It’s your property, so feel free to make upgrades, expand, or even sell your property on your time and your terms. Of course, you also get to build equity on your property while you own it.

The downsides of buying office space is that there’s a lot more responsibility on your part – both physically and financially. When you own your own space, you’ll need to make sure that it’s kept up and taken care of. Additionally, of course, buying office space can be a significant investment financially compared to the much smaller monthly commitment of renting or leasing.

Buying is usually a good choice for established businesses who also feel confident in their location choice.

A popular area for millennials, the South End/Midtown area is the hottest market for office space, with rental prices averaging $35/sf/yr. This area not only holds plenty of fresh, new office spaces, but also modern, new apartments for those who want a quick commute.

From mansions to floor-to-ceiling glass towers to converted houses, this popular area truly has something for everyone. Spaces range from 500 square feet to over 300,000 square feet, and there are available options in building class A, B, and C.

Although the average rental price is around $35/sf/yr, renters can find spaces ranging from $20sf/yr to $50sf/yr depending on your preferences. There are many different options in this hot area, but they do go fast!

In the Airport area, the average cost of office rental space is $23/sf/yr, with office suites, buildings, office parks, and customizable spaces ranging from 208 square feet to 79,000 square feet. With a variety of different building types, this neighborhood offers available offices in building class A, B, and C.

Mccullough Dr. is one of the more popular areas for office space within this region, and features large office parks only minutes from I-85, and less than 30 minutes from the Charlotte Douglas International Airport.

The Airport district also has a number of office buildings for sale. Most of these are free-standing buildings and fall into building Class B or Class C. The average cost of office buildings for sale in this area is $368/sf.

With the Airport neighborhood boasting perhaps the largest concentration of office spaces in the Carolinas, this is an excellent neighborhood to start with on your search.

This northern area of Charlotte near beautiful Lake Norman includes the towns of Davidson, Cornelius, Huntersville, and Mooresville. This area boasts beautiful, waterfront properties and is home to many of the wealthier residents of the Charlotte area.

You may be surprised to find that office space for rent in this area averages only $24/sf/yr. If you’re looking to rent a space in an upscale, beautiful part of North Carolina, you can’t miss checking out the Lake Norman area. Options in this area fall mostly in Class A and Class B spaces, with some Class C offices available.

The Lake Norman communities also offer office properties for sale, mostly falling into the 1,000-6,000 square foot range. The average cost of for sale properties in this area is approximately $334/sf.

These submarkets of Charlotte are charming communities that offer the benefit of being close to Uptown without actually being in Uptown. While they’re rapidly growing, these quaint areas are often known for their fun, small-town events and their delicious restaurants, wineries, and breweries.

In this area, office space averages around $23/sf/yr for rental properties and $206/sf for office space that’s for sale. It holds mostly smaller-sized office buildings and suites, with small, 150 square foot spaces up to 12,000 square foot buildings. These affordable options mostly fall into Class B and Class C in the Matthews and Indian Trail neighborhoods.

Belmont and Gastonia feature affordable office spaces for rent at an average rate of $18/sf/yr. These suburban areas are west of Uptown, Charlotte. This part of the greater Charlotte area is known for its stunning landscape and variety of beautiful scenery to explore. It’s also well-loved as being home to the Gastonia Farmers Market. If you want quick access to fresh foods on your way to the office or on your lunch break, the Gastonia area may be the place for you!

Belmont and Gastonia also offer a number of office spaces for sale, including both industrial and commercial options. The average cost of these for sale options is around $219/sf.

Many of the office spaces in this area are located in slightly older buildings, so you’ll find a number of Class C options, with a few newer choices as well. For those who love a small-town, suburban feel and gorgeous views of nature, this area is an excellent choice for office space.

The fast-growing market of Pineville boasts nearly all the benefits of the big city, but with a small-town feel. It’s home to young professionals and young families, and features highly-rated schools and lots of diversity all in a quiet, safe area.

Office space in this area includes everything from large, commercial buildings to classy condominiums. Most fall into building Class A or Class B. The average price of office space rentals in Pineville is $27/sf/yr for rental properties, and $294/sf for properties that are for sale.

NoDa is short for North Davidson Street, the main street of downtown Charlotte. For those who love to be right in the center of the action, you can’t let your office space search come to an end without checking out the options in this part of town.

This area boasts many modern spaces with high traffic exposure. Office space for rent in NoDa averages $32/sf/yr.