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Office Insight

United States | Raleigh, NC

Report | Raleigh-Durham Office Insight - Q1 2011

Summary

The Progress Energy and Duke Energy merger will continue to be something to watch in the Downtown Raleigh submarket as decisions surrounding their space needs are made over the course of the year. As employment levels pick up, rental rates are expected to see gradual increases in the latter part of 2011 as excess space is absorbed. Green technology, advanced medical care, biotechnology, and pharmaceuticals are expected to continue to provide the needed job growth in the area. While a continued slow decline in the overall rental rates is expected in the near term, fluctuations remain minimal from quarter to quarter as
signs continue to point to a bottoming out of prices in the near future. Looking forward, with an employment bounce back, a shift from the current tenant-favorable market to a landlord-favorable one will be inevitable.

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