In the office market rates hit all time market highs with top rents reaching $41.50 per SF,
Theindustrial sectoris now sub 3% vacant space, with a vacancy rate of 2.49%!
What this means for immediate leasing concerns? Rate hikes from 1Q19 are continuing their ascent. If you are facing significant upcoming lease requirements the time is now to lock in your rate before the next hike!
Raleigh business owners and tenants will find interesting:
1.29 Million square feet of office is under construction.
Vacancies in office options dropped a full percentage point to 7.52%, with industrial sitting under 3% vacant space.
Industrial rents rose $0.28 from 1Q19 to $6.28 per foot in 2Q19.
How does this apply to business owners and tenants?