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Raleigh Office Market Report

Average Asking Rent (Price/SF)             $25.95
Vacancy Rate (%)               10.4%
Net Absorption (SF)            -75,233

The Raleigh office market experienced a quiet first quarter of 2019, as fundamentals were soft and limited tenant growth. Given the rapid growth over the past several years, this was not unexpected and was considered more of an anomaly rather than an indicator of a change in market dynamics. The market's vacancy rate rose to double digits for the first time in four quarters, ending the first quarter at 10.4%. This was the result of vacant space at delivered 1010 Sync Street, Perimeter Park Six. This increased vacancy will be corrected next quarter, when Relias moves into 131,000 square feet.



Raleigh Office Market Report
1Q19
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