Market Graphs

NAI Carolantic’s research showed area-wide vacancy in the office category declined slightly from 10% in 2017 to 9% in 2018. The multipurpose category—which includes warehouse, industrial and flex space also dropped from 9% in 2017 to 7% in 2018. Shopping center vacancy increased slightly from 3% in 2017 to 4% in 2018. The office category expects approximately 2.4 million square feet to be constructed in 2019, and multipurpose looks for 1.6 million square feet of new construction. Shopping centers have just over one million square feet underway, with most being built in the West Raleigh, North Raleigh submarkets.

Absorption was generally positive in 2018 with the office category improving to 3% in 2018 up from 2% in 2017. The multipurpose category improved to 3% absorption in 2018 over 1% in 2017. Shopping centers dropped from 1% to 0% in 2018, the lowest in the past 10 years.




Multipurpose
A market of over 135 million square feet, the Multipurpose category includes industrial, warehouse and flex buildings.

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Multipurpose



Shopping Centers
The Shopping Center category covers approximately 59 million square feet of retail space.

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Shopping Centers



Office
With a total market of over 92 million square feet, the Office category includes Class A & B space.

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Office



Hotel/Hospitality
This chart includes information on the hotel industrial for Wake and Durham Counties.

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Hotel Hospitality



Apartment/Single Family
These charts include information on the Triangle Apartment market as well as Single Family Homes.

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Apartment/Single Family



Area Wide Absorption Trends
Summary graph of absorption trends for Shopping Centers, Office and Multipurpose categories.

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Area Wide Absorption Trends



Area Wide Vacancy Trends
Summary graph of vacancy trends for Shopping Centers, Office and Multipurpose categories.

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Area Wide Vacancy Trends



New Construction
Construction trends for Shopping Centers, Office and Multipurpose categories.

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New Construction



Forecast
Our forecast for the coming year for each property type.

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Forecast