Intelligence

Regional Summaries

Select a state to view available market snapshots

Raleigh Durham

Apartment
The Raleigh-Durham apartment market had a mixed fourth quarter of 2016, with a slight vacancy increase countered by solid rent growth. Reis reports fourth quarter vacancy at 4.7%, up 10 basis points for the quarter but down 120 basis points over 12 months. January 2017 data show a rate of 4.6%. Reis reports asking and effective rents increased by 0.5% and 0.6% in the fourth quarter to $1,022 and $928 per month, respectively. These rates were up 5.6% and 5.1% over 12 months.
Industrial
Vacancy fell again in the 30.9-million-square-foot Raleigh-Durham warehouse/distribution market in the fourth quarter of 2016, Reis reports. The 13.1% rate was down 20 basis points from the prior quarter and down 70 from one year earlier. January 2017 vacancy is 12.5%. The fourth quarter average asking rent increased 0.8% to $5.18 psf, with the average effective rent up 0.9% to $4.62 psf. These rates were up 2.4% each over the year. Rents showed 0.2% gains in January 2017. Raleigh-Durham’s Flex/R&D vacancy rate finished the fourth quarter at 6.7%, down 30 basis points from one quarter earlier and down 80 basis points from 12 months prior. Reis reports average asking and effective rents of $10.42 psf and $9.27 psf, up 0.6% and 0.8% for the quarter, and up 1.9% and 2.2%, respectively, over 12 months. January 2017 data show 0.1% gains for both categories.
Office
Vacancy in the 40-million-square-foot Raleigh-Durham general purpose, multi-tenant office market fell in the fourth quarter of 2016 to 14.0%. The rate was down 50 basis points for the quarter and down 60 over 12 months. The rate was 13.9% in January 2017. Reis reports fourth quarter asking and effective rents of $21.65 psf and $17.25 psf, up 0.4% and 0.5% over the quarter, and up 1.9% and 2.1% over 12 months. Asking and effective rents are up 0.1% in January 2017.
Retail
The 29.7-million-square-foot Raleigh-Durham community-neighborhood shopping center market saw steady occupancy in the fourth quarter of 2016 and light rent growth. The fourth quarter’s vacancy rate of 7.6% was unchanged from the prior quarter and down 60 basis points over 12 months. The rate was 7.6% in January 2017. The community-neighborhood shopping center average asking rent was up 0.1% over the quarter to $18.91 psf, as was the average effective rent, to $15.97 psf. These rates were up 1.0% and 1.1% year-over-year. After minimal growth the first two quarters, rents were strong in the third quarter and weak in the fourth. Asking and effective rents rose 0.3% in January 2017.

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. If you did not find the commercial real estate market information you were looking for contact us today!

White Papers

 

     

Additional Resources