As I write this, the world is living through a new COVID-19 pandemic reality. The pricing expectations that are based on historical data will not hold much sentiment to current office users and business owners focused on crisis management. Even so, the economic baseline of 2020 for pricing will be from 1Q20 and with that please refer to our report!
Here’s your Capital Compass perspective:
In the office market rates started higher than 1Q2019 with average asking rates at $27.33 per SF, and Class A at $30.26 per SF!
Raleigh business owners and tenants will find interesting:
1.1 Million square feet of office was constructed and delivered.
Vacant and Available space rates for the quarter were at 11.9% market wide,and 9.8% for Class A office.
How does this apply to business owners and tenants?