The Triangle’s Q1 office market continues to flourish. Absorption exceeded 488,000 SF, helping to contribute towards rent growth. Much of the new leasing activity was centered around RTP and downtown Raleigh. The vacancy rate in Q1 remained relatively unchanged.
The Triangle’s industrial market also continues to strengthen. Vacancy rate is up slightly, primarily due to new buildings being added to the inventory, however, Q1 did see a positive absorption rate.
For more information, download our market summary.