Charlotte’s commercial real estate market is showing reasons for optimism, thanks in no small part to the area’s robust job market. 

Among the 14 metropolitan areas with a population of more than 1 million people, Charlotte recorded the highest employment growth — up 2.8% — in 2025 so far. Charlotte is seeing greater stability in its office market, while net absorption of industrial space neared 1M SF in the second quarter. 

“Charlotte remains a robust growth market — not just hot but resilient,” said Robert Memory, department manager of utility engineering and coordination for Colliers Engineering & Design. “It is transitioning from a place of rapid speculative growth with very steep price increases to more moderate but still solid growth with more emphasis on sustainability, mixed-use, redevelopment and affordability.”

If advising a developer or investor, he said he would look carefully at where demand is underserved, including affordable and mid-tier housing, adaptive reuse and mixed-use infill.

Memory will speak at Bisnow’s Charlotte Construction and Development Conference on Nov. 4 on a panel titled Next Development Frontier: Site Selection, Opportunity Zones, Underdeveloped Areas and Assets to Maximize Returns.

Register here for the event. 

Bisnow spoke with Memory to learn more about the state of the Charlotte market, where he is seeing the most activity and the potential challenges that lie ahead. 

Bisnow: You said the market is not just hot but resilient. What do you think is behind that? 

Memory: I’m looking at the job numbers to start. Colliers Engineering & Design opened a Charlotte office over eight years ago, based on the growth projection and opportunities as a national company looking to expand our engineering services. When you look at what Charlotte has to offer — several professional sports teams, an incredible downtown area — these are the things that attract both companies and individuals. 

Charlotte’s downtown is the nucleus that bonds the growth outward throughout Mecklenburg County and beyond. Everything funnels into Charlotte’s thriving downtown. 

Bisnow: Does your background in transportation infrastructure give you a particular perspective on this market?

Memory: I spent 30 years with the North Carolina Department of Transportation, and in my experience, improving interstates enhances the opportunity for more people to relocate. 

During those three decades, I had the opportunity to work on multiple highway improvement projects in Mecklenburg County, including the I-485 loop, I-85 widening, I-77 express lanes, NC 49 widening and the widening of Independence Boulevard. I saw significant growth throughout the area thanks to those improvements to the highway infrastructure. 

Today, they are forming teams to restructure I-77 South, and any time you improve traffic flow in a specific area, it opens up the corridor for more development. 

Bisnow: What sets Charlotte apart from other cities, and where do you see its opportunities and its challenges? 

Memory: There are several things that make Charlotte stand out, not least of which is its population growth. Charlotte saw a 7.3% population growth between 2019 and 2024, and it’s expected to continue to grow. Along with that, Charlotte is more affordable than many U.S. metros when you factor in living costs, housing and taxes. 

Charlotte is also a well-known banking hub with a diverse and growing economic base that includes advanced manufacturing, tech, research and development, biotech and more. This has piqued foreign interest, and Charlotte is drawing a significant amount of foreign investment, particularly in the manufacturing, energy and telecom sectors. 

All of this, combined with our high quality of life thanks to nearby schools, a mix of urban amenities and easy access to mountains and coastal areas, truly sets Charlotte apart. 

That being said, the area is facing several challenges, from pressures on housing affordability to material costs, labor shortages and supply chain disruptions that are delaying the delivery of much-needed housing. Additionally, there are infrastructure and transit gaps, including a limited public transit system, and risks from broader economic uncertainties surrounding interest rates, inflation and credit markets, which will influence development viability.

Bisnow: Where do you expect to see the most construction and development activity in Charlotte in 2026?

Memory: Based on multiple sources, office vacancies are high, particularly for older, Class-B and C buildings. As a result, conversion, demolition or reuse plans are increasingly likely for these assets. 

There is a strong multifamily development pipeline, particularly in the urban core, South End and the suburbs. But new supply is cooling in starts, so existing sectors may see more turnover. 

Mixed-use and public-private development projects, including for apartments, retail and office, are prominent, especially in master-planned communities. And finally, affordable housing and build-to-rent are gaining importance, given housing cost pressures.

Bisnow: What do you hope people learn from your panel at the Nov. 4 N.C. construction and development event? 

Memory: I hope attendees walk away with a clearer understanding of the key challenges and opportunities shaping North Carolina’s construction and development landscape. Whether it is navigating new regulations, embracing sustainable practices or leveraging technology to streamline projects, our goal is to provide practical insights that developers, contractors and community stakeholders can apply immediately. You’re looking at a thriving city, but at the same time, we’re facing real challenges, and those challenges are not going away. 

I also hope it sparks more collaboration across sectors because the future of construction in our state depends on partnerships that prioritize innovation, resilience and long-term value.

Click here for more information about the event. 

This article was produced in collaboration between Colliers Engineering & Design and Studio B. Bisnow news staff was not involved in the production of this content.

Studio B is Bisnow’s in-house content and design studio. To learn more about how Studio B can help your team, reach out to studio@bisnow.com. 

 JLL announced that Casey Zejdlik will join the firm as a Senior Director in its Investment Sales and Advisory private capital multi-housing team.

Zejdlik’s extensive expertise and successful track record will further enhance JLL’s capabilities in the multi-housing investment sector. With over 19 years of experience, Zejdlik has completed more than 290 transactions, including nearly 50 1031 exchanges.

“We’re excited to welcome Casey to our team,” said Corey Marx, Senior Managing Director. “His depth of knowledge and experience in multi-family real estate investment will be an asset to our private capital clients.”

Previously, Zejdlik co-founded and served as an advisor at Pilot Ventures and has held senior roles at Northmarq and CPX. Prior to his real estate career, he spent six years as a Nuclear Engineer in the Navy. Zejdlik holds a Bachelor’s degree in Nuclear Engineering Technology and is a recipient of two Navy Achievement Medals.

Graystone Capital Advisors, an investment sales brokerage based in Newport Beach, has promoted Julius Swolsky to managing director. Swolsky joined Graystone in 2018, and has completed nearly $3 billion in closed transactions since then.

Specializing in nationwide investment sales spanning from shopping centers to large sale-leaseback portfolios to new construction net lease, Swolsky sits at the helm of both the retail and medical teams at Graystone. He is responsible for his team’s growth to nearly 30 agents deployed across the country.

“I am thrilled to see Julius hit this milestone,” said Brenton Baskin, managing director of Graystone. “He has been one of the top-producing brokers in the industry for the past number of years. His service level to his clients is the number one reason he has been this successful thus far. I am looking forward to seeing him continue to be a dominant presence in the industry.”

Cushman & Wakefield has hired Julie Rice as a director of laboratory planning, based in San Francisco. Rice will plan facilities infrastructure to support the laboratory environment and expand the firm’s relationship between third-party life science clients and the firm’s internal life science team.

Rice has more than 30 years of experience in the Bay Area biotechnology industry in addition to 10 years of experience in laboratory and facilities management. Her work includes laboratory operations as well as business operations specifically within biotech, supporting companies who have been focused on small and large molecule drug discovery, cell and gene therapy, genomics and AgBio.

“We are thrilled to welcome Julie to our team,” said Jason D’Orlando, Cushman & Wakefield’s Americas life & technology science lead. “With her extensive expertise in laboratory operations and facilities management, Julie brings invaluable insight to our organization. Julie’s arrival marks an exciting chapter for our life sciences division as we continue to drive innovation and support the growth of our clients in this dynamic industry.”

Leaders From Rialto Capital Management, AEW, CIM, Rexford Industrial, EQR and Cushman & Wakefield come together on the Capital Markets panel at Connect Los Angeles 2024 on May 1 at the InterContinental in DTLA. Register now to hear from these industry experts and more.