Intelligence

Regional Summaries

Select a state to view available market snapshots

Raleigh Durham

Apartment
The Raleigh-Durham apartment market had a slight vacancy increase and moderate rent growth in the first quarter of 2017. Reis reports first quarter vacancy at 5.0%, up 40 basis points for the quarter but down 20 basis points over 12 months. April data show a rate of 5.0%. Reis reports asking and effective rents increased by 0.3% and 0.2% in the first quarter to $1,025 and $947 per month, respectively. These rates were up 4.9% and 4.6% over 12 months. The 2016 gains of 5.7% asking and 5.2% effective were quite impressive, and the market seems to be keeping that momentum. April data show a 0.3% gain in asking rents.
Industrial
Vacancy fell in the 31-million-square-foot Raleigh-Durham warehouse/distribution market in the first quarter of 2017, Reis reports. The 12.7% rate was down 30 basis points from the prior quarter and down 70 from one year earlier. April vacancy is 12.4%. The first quarter average asking rent increased 0.6% to $5.21 psf, with the average effective rent up 0.6% to $4.65 psf. These rates were up 1.6% and 1.8% over the year. Rents each showed 0.2% gains in April. Asking and effective rents were up 2.4% for all of 2016. Raleigh-Durham’s Flex/R&D vacancy rate finished the first quarter of 2017 at 6.2%, down 50 basis points from one quarter earlier and down 130 basis points from 12 months prior. Reis reports average asking and effective rents of $10.47 psf and $9.31 psf, up 0.5% and 0.4% for the quarter, and up 1.7% and 2.0%, respectively, over 12 months. April data show 0.2% gains for both categories.
Office
Vacancy in the 40-million-square-foot Raleigh-Durham general purpose, multi-tenant office market fell in the first quarter of 2017 to 13.8%. The rate was down 20 basis points for the quarter and down 140 over 12 months. The rate was 14.0% in April. Reis reports first quarter asking and effective rents of $21.80 psf and $17.38 psf, up 0.6% and 0.7% over the quarter, and up 2.2% and 2.4% over 12 months. Asking and effective rents were both up 0.2% in April.
Retail
The 29.8-million-square-foot Raleigh-Durham community-neighborhood shopping center market saw steady occupancy in the first quarter of 2017 and strong rent growth. The first quarter’s vacancy rate of 7.6% was unchanged from the prior quarter and down 50 basis points over 12 months. The rate was 7.8% in April. The community-neighborhood shopping center average asking rent was up 0.5% over the quarter to $19.01 psf, with the average effective rent up 0.6% to $16.07 psf. These rates were up 1.5% and 1.7% year-over-year. Asking and effective rents rose 0.1% in April.

More from our Local Market Experts About NC

Source: Data provided by Reis, inc.

Commercial Real Estate Market Information

Coldwell Banker Commercial has commercial real estate market statistics to help you find out more about your local commercial real estate market. Whether you are looking for commercial real estate market trends or information on a commercial real estate markets size, we have the commercial real estate market reports you need.Get the information you need to make wise commercial real estate decisions by checking out our commercial real estate market reports. If you did not find the commercial real estate market information you were looking for contact us today!

White Papers

 

     

Additional Resources