Raleigh Durham 2019 Q2 Office Market Report

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Availability increases year over year, but not overly affected by influx of new development due to abundant preleasing

Overall availability in the Raleigh/Durham market increased 90 basis points over the year to 13.4% in Q2. Class A availability held essentially flat over the same period, now at 13.3%. The market has a robust development pipeline with nearly 1.0 million square feet (msf) delivered so far in 2019, and almost another 1.0 msf set to deliver in the next twelve months - over half of which has already been preleased. With preleasing activity so strong, the uptick in deliveries is not materially impacting overall availability in the market. However, there is a striking disparity between core and suburban submarket fundamentals, with Q2 availability rates at 6.5% across the Central Business District (CBD) submarkets (Downtown Durham and Downtown Raleigh) and 15.0% across all suburban submarkets. 

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