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2017 deliveries are now 76.4 percent leased

  • ​Following trends across the country, the Raleigh-Durham market is hungry for new development. 2017 leasing activity exceeded 3.0 million square feet, the highest level reached over the last ten years. With more than 2.3 million square feet of construction in the pipeline, the Raleigh-Durham market is growing at an unprecedented rate. 

  • Despite nearly 1.7 million square feet of new deliveries, absorption for the year hit 1.5 million square feet. Projects over 100,000 square feet had an average pre-lease rate of 65.4 percent. In less than one year since delivering, these young developments have signed more than 300,000 square feet worth of leases. 

  • Much of the leasing activity in these newly constructed buildings comes from technology companies. SolarWinds, an IT management company, signed a lease for 41,175 square feet at Forty540. The move represents an expansion for the company, which will add 18,175 square feet to its Raleigh-Durham footprint. Align Technology, the makers of Invisalign, took down 80,000 square feet in the same building. Infosys, India’s second largest IT firm, will occupy 60,000 square feet at their new technology and innovation center at Legacy at Brier Creek. 

Source: JLL Research



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