Raleigh-Durham industrial real estate market reports

Q1 2025

The Raleigh-Durham industrial market is showing signs of stability in the first quarter of 2025. While a modest leasing quarter, large move-ins, including 2 msf from Wolfspeed in Chatham County, provided a solid foundation for the rest of the year. Flattening asking rates amidst increasing availability are present, though development continues to fall.
3.8 msf

Warehouse availability

Warehouse availability is at 3.8 msf, a 15% increase from 2024, amidst a large volume of deliveries.

5.4 msf

Under construction

There is 5.4 msf under construction. While 15% higher than the 5-year average, this is the lowest point since Q4 2022.

6.3%

Total vacancy

Total vacancy has risen 123 bps as of Q1 2025, due to large amounts of deliveries. With development slowing, expect this rate to flatten in the coming quarters.

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