Raleigh-Durham industrial real estate market reports
Q2 2024
The Raleigh-Durham Industrial market since Covid experienced a growth in demand and a lack of supply that caused vacancy to reach a low of 1.3% in Q1 of 2022. Since then, more supply has arrived which has caused vacancy to increase to a more reasonable level. Greater economic conditions have caused NNN rental rates to increase, and industrial producer costs to increase as well (although the costs have leveled off since 2022. More much needed supply continues to arrive on the market, and Raleigh-Durham industrial continues to be a position of strength.
-78.7%
Decrease in construction starts from half 1 2023 to half 1 2024. The high costs of construction have caused many delays in starts.
-30.5%
Decrease in industrial job postings since July of 2022. This decline has been brought on in part by increasing occupier costs.
1.3 msf
Industrial space delivered so far in 2024. This additional supply will help the market maintain healthy availability numbers.
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