Raleigh-Durham industrial real estate market reports

Q2 2025

The Raleigh-Durham industrial market continues to show its balance. With under construction figures falling, but remaining robust, the market has space to absorb new deliveries. Over 1.6 msf was leased in Q2, with tenant demand consistent across the market. Direct vacancy remains a healthy 5.9%, as slowing development and strong leasing position the market with healthy fundamentals.
5.8 msf

Under construction

There is 5.8 msf under construction. Though the market is maintaining a healthy pipeline, this is the lowest total since 2020, suggesting the market is reaching an point of equilibrium.

1.6 msf

Leased in Q2

The second quarter saw 1.6 msf leased, the strongest quarter since Q2 2024. Tenant demand remains robust in Raleigh-Durham, specifically those seeking under 50,000 sf.

5.9%

Direct vacancy

Direct vacancy is under 6%, with strong leasing and slowing development keeping the rate healthy though the midpoint of 2025.

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