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A look at Downtown Raleigh’s growth

• Since the end of the most recent recession, demand for downtown product has been on the rise. As tenants look to compete for talent in an ever tightening labor market, buildings located in the central business district, complete with urban amenities, are viewed as an asset.

• Downtown Raleigh, a booming technology hub, has followed this trend. Since 2008, the city has added more than 400,000 square feet of office product to its downtown inventory, an increase of over 12.0%.

• Demand in Raleigh’s central business is driven by in large part by technology tenants. Over the last 18 months, 40.0 percent of tracked leasing activity in Downtown Raleigh has come from technology tenants, including Pendo, FilterEasy, and LogMeIn.

• The Dillon, which will wrap up construction in Q2 2018, will add over 260,000 square feet to Downtown Raleigh. F.N.B. Tower, expected to break ground in May 2018, and 400H on Hillsborough Street will add a combined 460,000 square feet.

• By the end of the decade, Downtown Raleigh is expected to have 4.0 million square feet of office, more than double the amount of office inventory available in 1990.


Source: JLL Research




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