• Vacancy rate held steady at the end of the third quarter. Post construction delivery of 2.46M square feet is expected to fluctuate vacancy and absorption totals.

  • Average asking rents in the market were $23.85 per square foot with Class A rents averaging $27.43 per square foot. Major submarkets have become an incubator for high-end, Class A space where tenants are willing to pay competitive rents for key locations, space configuration and modern amenities.

  • Triangle office market sales surpassed prior years with notable transactions including Wells Fargo Capitol Center in Downtown Raleigh selling for $173 million.

  • The delivery of the Dillon Tower last quarter along with the 104,000 square foot lease signed by Arch Capital Services has made the Warehouse district appealing for office users
    entering and relocating in the market.