Market Info

1st QUARTER 2018 TRIANGLE MARKET OVERVIEW

As the Triangle continues to grow its employment and economic base, corporate tenants in the region will be focused on opportunities for expansion and upgrade. The Triangle area has added approximately 21,800 new jobs in the last year according to February estimates from the U.S. Bureau of Labor Statistics. Office space absorption exceeded 500,000 SF in Q1, boosting office absorption for the past year to 1.06 million SF. Overall vacancy in the Triangle remained the… READ MORE

4th QUARTER 2017 TRIANGLE MARKET OVERVIEW

The Triangle market delivered eleven new office and research laboratory buildings in 2017 with a combined 1.65 million SF of space. Notable additions include Midtown Plaza at North Hills, the Chesterfield in downtown Durham, and Forty540 in Morrisville. In 2016, the market delivered seven new office building totaling 402,408 SF. New office buildings delivered in the fourth quarter include the 104,000 SF Wade IV in West Raleigh and the 158,000 SF Carolina Square in Chapel… READ MORE

3rd QUARTER 2017 TRIANGLE MARKET OVERVIEW

  Office vacancy increased over the third quarter after almost six years of steady office space absorption and delivery of new buildings. More office tenants vacated or contracted over the third quarter than leased or expanded bringing the office absorption down from second quarter. Over the past year, 1.2 million SF of office space has been added to the Triangle as vacancy increases. Additions to the office market this quarter include Highwoods Properties’ delivery of… READ MORE

1st QUARTER 2017 TRIANGLE MARKET OVERVIEW

Class A average lease rates in the Triangle are higher by 2.33% compared to this time last year, with the Six Forks Road, Cameron Village, and Cary submarkets representing the three highest rental growth regions. Over the past year, 2.36 million SF of office space has been added to the Triangle with the lion share being delivered in the RTP/I-40 Corridor submarket with GSK’s campus coming on the market for lease up. Demand for flex usable inventory continues to drive vacancy… READ MORE

4th QUARTER 2016 TRIANGLE MARKET OVERVIEW

Class A average lease rates in the Triangle continue to rise, up +0.63% this quarter to $26.05 per SF. Compared to this time last year, Class A average lease rates in the Triangle have increased 3.2%. Demand for usable inventory continues to drive vacancy lower and absorption higher in the Triangle. Since last year, overall vacancy has dropped -2.6% to 9.5%, while the area absorbed just under 225,000 SF. With nearly 580,000 SF of total net leasable… READ MORE

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