An increase in available Raleigh-Durham industrial inventory is met with a decrease in development activity

Bar chart of Raleigh-Durham total industrial buildings under development and percent of industrial inventory available from 2017 through 2023 Q1
  • A substantial 4.7 million square feet of industrial product is under construction in Raleigh-Durham, while the percentage of available space is at a 5-year high of 7.8%, allowing for a surplus of options for occupiers relative to past market conditions.
  • Raleigh-Durham industrial availability is lower than other similar markets including Atlanta (8.9%), Charlotte (7.9%), and Charleston (12.5%).
  • Interest rates and construction costs are responsible for the decline in total square feet under development over the past three quarters, but the development total for Q1 2023 remains high compared to historic development total numbers over the past 5 years.

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