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Monday, May 6, 2019
Read for Colliers 1Q19 Triangle Office and Industrial Market Reports!
Here’s your Capital Compass perspective:
Demand for high-end buildings in prime locations continue to drive rents in the office market while,
Limited new construction and steady leasing drive vacancies down in the industrial sector.
What this means for immediate leasing concerns? Higher rents across all office product continue from 2018, with some markets posting average rents above $31.00 per square foot.
Raleigh business owners and tenants will find interesting:
1.53 Million square feet of office is under construction.
Vacancies in single story office/flex dropped to 8.37%, with industrial sitting under 4% vacant space.
Industrial rents average $6.00 per foot with warehouse sales reaching over $100 per square foot in some cases.
How does this apply to business owners and tenants?
For office tenants, read more here!
For industrial and lab, find insights here!
- Capital Compass
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