Vacancy tightens as more companies move to and expand in the metro. As corporations such as Honeywell and LendingTree have committed to relocate to or double their employee presence in Charlotte, office space availability will continue to reduce. Vacancy will drop to the lowest level since 2007, producing one of the largest rent gains in the nation. In response to the growing need for space, more than 2 million square feet will be developed for the third consecutive year. The Stonewall corridor of Uptown Charlotte will receive the greatest portion of the new inventory as the first office building in the Legacy Union mixed-use project is completed. The 33-story building encompasses 850,000 square feet with Bank of America as the main tenant. A second, 18-story tower in the development is set to break ground this year. To the east of Uptown, the Midtown neighborhood will welcome nearly 700,000 square feet. The largest building is the 265,000-square-foot Dimensional Place on South Tryon Street.