DISCLAIMER:

All entries on this blog are the opinion of the author and not the opinion of Avison Young Raleigh-Durham or Avison Young. Avison Young does not endorse, nor does it sponsor, the opinions of the author. Furthermore, Avison Young does not assert that any statement made by the author is a fact. Avison Young is not responsible for the monitoring or filtering of any blog. "Raleigh Capital Compass" and all blog content are under the sole ownership of the author.

© 2023 by Biz Trends

2Q15 Triangle Market Report

Monday, September 28, 2015

 

 

Click here for Colliers 2Q15 Triangle Office Market Report!

 

 

 

Here’s your Capital Compass perspective:

 

Rapid rent growths help push RECORD BREAKING numbers in office investments for the Triangle. The second quarter put over $613 Million in investments on the books. Uptick in investment activity also helped leasing activity with demand reaching 835,000 SF.

 

Raleigh business owners and tenants will find interesting:

 

  •  Over 30 companies have either relocated or expanded in the Triangle and Wake Co., adding $99.5 Million in investment to the economy

 

  • Vacancy levels continue to plunge with more company relocations, dropping 3 basis points to 11.2% vacant space for 2Q15.

 

  • Average office rents were highest in Downtown Raleigh at $28.21 per SF, compared to the Triangle’s $21.03 per SF.

 

  • Office demand continues grow with rental rates expecting to rise an additional 7% by end of 2015.

 

 

How does this apply to business owners and tenants? 

 

 

Economy numbers still indicate that job growth and the business climate in the Triangle remain on the rise and attractive.  Investors are taking note and scooping up any office property whether Class A or Class B grade.  This is leading to renovated buildings with new amenities, especially in the suburban markets.

 

For tenants, these new suburban options are becoming attractive, as the majority of big leasing activity occurred in Cary for 2Q15. This also means that tenants and business owners can expect increasing rental rates to continue, whether in downtown Raleigh, Durham or RTP and North Raleigh.

 

For startup clients, the cheaper deals of the past by being a little further outside of downtown are disappearing.  If finances are still tight, co-working spaces and hubs may be a good temporary option. The latest on co-working spaces with Industrious (past client) and HQ Raleigh downtown can be provided, just give me a call!

 

 

 

- Capital Compass

 

 

 

 

Please reload

Follow Me
  • Twitter App Icon
  • Google+ App Icon
  • LinkedIn App Icon
  • Facebook App Icon
Recent Posts
Please reload

Search By Tags
Please reload