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Raleigh Office Market Report

Average Asking Rent (Price/SF)       $24.18
Vacancy Rate (%)         10.3%
Net Absorption (SF)     399,706

The Raleigh office market remained in expansion mode at the end of the third quarter of 2017, as fundamentals were positive and job creation continued. The delivery of 714,000 square feet increased the overall vacancy rate to 10.3% from 9.9% in the second quarter. Although this was above the 9.7% vacancy rate recorded one year ago, it remained well below the five-year average of 11.6%. At the same time, average asking rents continued to rise, ending the third quarter at $24.18/SF from $23.27/SF last quarter and $22.09/SF one year ago. The average asking rent has risen 24.4% over the past five years.



Raleigh Office Market Report
3Q17
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