Raleigh-Durham coworking ranks #1 in 2018 preleasing activity
February 07, 2019
- In a year dominated by the rise of coworking across the country, Raleigh-Durham was no exception. Spaces launched its first office in Downtown Raleigh at The Dillon, and WeWork opened its doors at One City Center in Downtown Durham.
- Of the 550,000 square feet of preleasing deals signed in 2018, coworking accounted for over one third of preleased activity. Preleasing agreements from coworking companies helped to launch construction on two properties: 555 Mangum in Downtown Durham and Crabtree Terrace in Glenwood / Creedmoor.
- While the largest leases were in urban properties, Spaces’ commitments to Crabtree Terrace in Glenwood / Creedmoor and The Station at East 54 in Orange County show growing interest in the suburbs.
- Capital Bank and IAT Insurance Group pushed finance and insurance into second place, accounting for 20.3 percent of preleased activity.
- Technology claimed third, totaling 16.2 percent. Together, these three industries accounted for nearly 70.0 percent of preleased activity.
Source: JLL Research, Brookings Institute, 2016 American Community Survey