Raleigh-Durham industrial real estate market reports

Q2 2026

Fundamentals in the Raleigh-Durham industrial market have begun to shift. Historically, the region exercised strong developer discipline that largely mirrored demand. As a result, vacancy stayed relatively low in comparison to other markets in the southeast. Through the first half of 2026, demand has been slow, while development has remained active. New industrial product is at 1.9 msf for the year, while leasing volume is just 2.5 msf. Following this, vacancy has risen to roughly 8%. The market remains attractive due to its geography and workforce talent. Tenants are seeing asking rates around $12.44/SF, with rates even higher in more infill locations near the hearts of Raleigh and Durham. Large deals have been occurring, which should result in downstream activity from supporting companies and industries, leading to increasing activity moving forward.

1.9 msf

Delivered

Nearly 1.9 msf has delivered through 1H26, with another 5.6 msf under construction. This is a downtick from last year, when nearly 6 msf delivered.

2.5 msf

Leasing volume

Leasing volume through 1H26 is 2.5 msf. Activity has been slow to start the year, while average lease sizes are down to roughly 47k sf.

$12.44 NNN

Asking rents

Asking rents are averaging $12.44/sf. The market continues to see rent growth, however that growth has slowed as vacancy has risen.

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