There's a dichotomy in Charlotte's commercial real estate market: Part of it is thriving and the other, faltering.
"The broader retail market is healthier than it's really ever been. We've seen record low vacancy rates. The big exception is the mall space," said Chuck McShane, director of market analytics at Costar.
Carolina Place Mall recently joined a growing list of properties across Charlotte including the EpiCentre, Northlake Mall and uptown's "One Wells Fargo" building that are defaulting on their loans.
McShane said interest rate hikes and a shift away from certain commercial spaces are to blame.
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