Raleigh-Durham office market reports

2024 Q4 highlights and trends

The Raleigh-Durham office market experienced flat leasing volume and higher availability. Trophy class property has the highest availability, and also the highest asking rental rates (reaching above $50 psf average for the first time in the history of the market), while class c has the lowest availability of all classes at 5.4% due to its much more affordable average asking rental rate of $24.13 psf. Many large employers are asking employees to come back to work, which has caused for some very large office leases to take place in 2024, and there is a lot of hope that 2025 will see much higher office leasing volume thanks to this.
38.9%

Difference between average trophy asking rate and average class a asking rental rate

This difference is larger than any other step down difference between property classes.

49k sf

Difference between 2022 average leasing volume and 2024 average leasing volume

Leasing volume remained flat from 2022, not quite reaching the highs of 2023.

8.25m sf

Class A availability

More total class A space is available than any other kind of office space, although a much higher overall percentage of trophy space is available.

Your source for the latest Raleigh-Durham office market reports

Get in-depth office market reports and insights from commercial real estate experts in the greater Triangle area. Avison Young advisors look at Raleigh-Durham commercial real estate activities and the latest Raleigh-Durham statistics to provide you expert market research on Raleigh-Durham's office properties.

Explore different topics like the latest office market pricing trends and analysis of Raleigh-Durham's current office real estate market conditions. Gain a better understanding of Raleigh-Durham’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Raleigh-Durham's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Raleigh-Durham.

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