Raleigh Office Market Report
Annual full-service class rental rates remain elevated at $30.66/SF, a 3.2% increase year over year. Occupancy declined, causing overall vacancy rates to increase by 180 basis points year over year, to 17.0%. The under-construction pipeline dropped to 1.8 MSF currently in progress. Total leasing activity closed the quarter at 2.0 MSF, above the 16-year fourth-quarter average of 1.2 MSF.
Download Raleigh Office Market Report 4Q23