Raleigh-Durham Anxiously Awaits 2.16 Million SF of Office

Read for Colliers 2Q17 Triangle Office Market Report! Here’s your Capital Compass perspective: The Raleigh-Durham market has anxiously awaited the delivery of the 2.16M square feet of inventory that is currently under construction. Increasing demand for Class A space has created a construction frenzy across the Triangle region, pushing pre-leasing percentages to record rates. Raleigh business owners and tenants will find interesting: The Triangle downtowns have been in such demand that year over year Class A rents increased 12.4%! Triangle vacancies dropped 1.1% from 2Q16, coming in at a rate 7.7% of available space. Downtown Durham continues to sit below 2% with a 2Q17 vacancy rate of 0.5

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Thomas Kenna

 

Principal: Occupier Solutions

Mobile: 919 830 0510

Office: 919 913 1119

Thomas.Kenna@avisonyoung.com

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