Raleigh-Durham industrial real estate market reports

Q2 2023

Low industrial supply has caused the Raleigh-Durham industrial market to experience less leasing activity and low vacancy. Job postings for industrial industries have seen a decline as demand for industrial workers has decreased modestly possibly indicating that the local economy may not be as strong now as it was in the past. Occupiers are staying in place waiting for market conditions to improve and for more space to be brought onto the market. 

Decline in industrial and flex industrial leasing activity

The first half of 2023 saw nearly 55% less leasing activity than the nearly 2.9 msf of leasing activity the first half of 2022 saw.


Decline in industrial-using job postings

Raleigh-Durham Industrial using job postings declined nearly 30% from the high they saw in March 2022. A sign that the industrial economy may be weaker this year than last.



Vacancy for class C industrial space

Class C industrial space showed the lowest vacancy of all industrial property classes as occupiers stay in place and wait to see the effect that additional supply in the market will have.



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