•  The overall vacancy rate remains relatively unchanged until the 2.5M square feet of office space that is currently under construction is delivered. A flurry of market activity post construction delivery will ultimately swing vacancy and absorption totals.

  • Average asking rents in the market were $23.47 per square foot with Class A rents averaging $27.44 per square foot. The increasing demand for high-end, Class A space in the major Triangle submarkets will continue to push rents higher. Tenants seeking Class A space are willing to pay aggressive rents for key locations and space configuration.

  • The Triangle region is home to the second most educated city in the country bringing higher levels of innovation and high-tech employment to the area. Nationally, tech tenants continue to lead the charge and the Raleigh-Durham region is no exception. Raleigh ranked fourth in the country for the highest concentration of tech job openings behind San Francisco, Austin and Seattle.