Greg Pieratt, Principal & CEO, Lee & Associates
In an interview with Invest:, Greg Pieratt, principal and CEO of Lee & Associates Charlotte, reflected on the forces shaping commercial real estate in Charlotte and the firm’s growth strategy. “Growth here is far from done. For businesses across sectors, not just real estate, there is significant opportunity ahead if you stay disciplined, motivated, and focused,” Pieratt said.
What trends or changes over the past year had the biggest impact on your firm and the broader commercial real estate market?
The big theme for commercial real estate, and specifically the people in our office, was the tariff talk. There are a lot of things that impact what we do and how we do it, but tariffs were the big “T” all year long. Interest rates were probably a close second.
The tariffs created a heck of a lot of instability, and we saw a lot of paralysis among businesses — just not being able to make decisions. When you can’t forecast how goods are going to come and go, and what they’re going to cost, it makes it tough to run a business.
We have a lot of industrial brokers in our office, so they’re dealing with distribution companies and manufacturers bringing in raw materials. The tariff conversation was wide-reaching. It was fascinating to see how many different ways tariffs impacted businesses, from injection blow molding companies to mattress makers. It touched nearly everyone.
Looking specifically at Lee & Associates in Charlotte, what milestones from this past year stand out?
2025 was a great year for our young company. It was our first full year. 2024 was about setting the foundation, learning the market, and getting started. In 2025, we really began to build.
We’ve grown to 16 brokers and added diversity of asset class focus. Benjamin Bivens is spearheading our medical office practice with a three-person team. Justin Wiesahan is leading our self-storage practice. We’ve also added depth on the industrial and investment side.
I’m proud of the diversity we’ve built in a short period of time. Transaction volume has continued to increase as the market has improved, which is what you hope to see as a young brokerage firm.
Why was Charlotte the right market to launch this office?
It comes down to growth. Our thesis was that the Southeast is where migration is landing more people than anywhere else in the country, and Charlotte is a major part of that.
When you have that many people coming into a region every day, it creates a need for everything, from grocery stores and dentists to office buildings, distribution space, retail, and housing. That demand is what drives our business, and it creates tremendous opportunity for brokerage firms operating here.
As you look toward 2026, where are you seeing the most opportunity across asset classes?
The short answer is across the board. Multifamily slowed significantly and has been a tougher sector, but it’s starting to wake back up. Industrial has remained healthy, even with some slowdown, and recent absorption and vacancy numbers have been encouraging.
Office has been remarkably strong. Class-A space is nearly spoken for in Charlotte, which is incredible. Retail has also remained healthy and resilient. Because of that, we’re continuing to look at growth opportunities across multiple asset classes.
Adding more office brokers is a priority. Land brokerage is also critical as housing supply conversations evolve and construction cycles begin to catch up to long-term demand.
Office demand has been a bright spot. What are tenants prioritizing today?
We’re continuing to see a return to the office. Human nature has reasserted itself. People want to be around people, and employers want employees in the office more often than not, even with flexibility remaining.
Tenants want amenities. They want to be near food, coffee, walkable environments, and places that attract talent. South End has seen success because it’s close to housing, universities, and transit. Other submarkets like Ballantyne are also performing well.
Class-A space has been gobbled up. As that fills and construction remains cautious, class-B buildings are benefiting. Uptown will benefit as well, especially as ground-floor amenities improve and inventory tightens.
What needs to happen for Uptown to remain competitive long term?
Uptown needs to continue evolving into a true live-work-play environment. Grocery, fitness, retail, and everyday conveniences matter. If Uptown becomes more magnetic and livable, employers will continue to plant their flag there.
How does Lee & Associates’ broker-owned model influence culture and client service?
Every broker knows there’s a clear and achievable path to partnership. That sense of ownership changes behavior. All profits stay local. Decision-making happens locally.
That structure incentivizes collaboration. When brokers share information and help each other close deals, everyone benefits. It creates alignment and a strong reason to work together.
Clients feel that culture. Our brokers have high levels of entrepreneurship and accountability, and that translates into exceptional effort and attention to detail.
How do you leverage Lee’s national platform while staying locally focused?
Companies are national now more than ever. Having boots on the ground in many markets allows us to build teams quickly and serve clients wherever they operate.
Our national network allows us to tap expertise across markets. Through conferences, training, and ongoing collaboration, we know who to call and how to assemble solutions efficiently for clients.
How is technology shaping your operations and client service?
Lee has done a strong job staying ahead of the AI curve. Our internal platform, LEO, and the broader technology resources being developed nationally give brokers tools tailored to brokerage activity.
It’s moving fast, but having dedicated leadership focused on technology gives us confidence we’re using the right tools and continuing to adapt.
What are your priorities over the next two to three years, and how do you view Charlotte’s outlook?
Our focus is measured growth. We want to continue developing our current team while selectively adding asset classes where it makes sense.
The outlook for Charlotte is positive. We’ve worked through some bumps, and I’m cautiously optimistic. I think the first half of 2026 will be good, and the back half will be great.
Markets that used to feel tertiary are now part of the Charlotte ecosystem. Gaston County, Rock Hill, Monroe — all of it is becoming interconnected. Growth here is far from done.
For businesses across sectors, not just real estate, there is significant opportunity ahead if you stay disciplined, motivated, and focused.
