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Raleigh Office Market Report

Average Asking Rent (Price/SF)         $25.23
Vacancy Rate (%)           10.0%
Net Absorption (SF)         12,519

The Raleigh office market remained tight at the end of the third quarter of 2018, despite slightly softened fundamentals for the quarter. Leasing velocity was high, and experts were bullish in their outlooks for the next 12 months. The market's vacancy rate ended the third quarter at 10.0%, an increase of 20 basis points over the prior quarter but a decrease from 10.6% last year. It remains well below the five-year average vacancy rate of 11.0%, but new construction delivering over the next 18 to 24 months will likely prevent another rapid drop in vacancy.

Raleigh Office Market Report
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