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Raleigh-Durham Industrial 5 Fast Facts Q1 2022

Kristine Smith • 5/4/2022
What you need to know in today's Raleigh-Durham commercial real estate (CRE) industrial market.

The Raleigh-Durham market is thriving as unemployment rates drop, nonfarm employment numbers rise, and exciting corporate announcements were made in the beginning of 2022. The following Industrial Five Fast Facts explore the key trends that impacted the Raleigh-Durham industrial market during the first quarter.  

Read our Industrial Five Fast Facts below or download a copy of the Q1 2022 MarketBeat. 


FACT 1: 

Leasing Activity Increases 

Total new leasing activity reached 1.0 million square feet (msf) in Q1 and nearly 200,000 sf of renewals were signed. In total, 10 transactions 50,000+ sf were inked, including food and beverage manufacturer Pactiv for 60,000 sf at Eastgate 540. 

FACT 2: 

Largest Economic Development Announcement in N.C. 

Auto manufacturer VinFast selected North Carolina for its first North America manufacturing plant, investing $6.5 billion and creating 13,000 jobs. 

FACT 3: 

Influx of New Construction 

More than 456,000 sf of industrial product delivered in Q1, the highest total amount of new construction recorded in one quarter over the last year. Four warehouse buildings delivered 73.1% preleased and one flex building delivered 100% preleased. 

FACT 4: 

Vacancy Increases with New Space Options 

With new warehouse projects delivering with vacant space, the warehouse vacancy rate increased 70 basis points (bps) quarter-over-quarter (QOQ) from 2.3% but remains tight at 3.0%. Flex vacancy increased 170 bps from 5.7% to 7.4% as multiple smaller spaces came online in Q1.  

FACT 5: 
Significant Rent Increases QOQ   

Overall industrial rental rates increased 20.5% QOQ posting at $17.58 psf. Warehouse rates reached $8.27 psf and flex rates increased to $21.01 psf. 


Article • Office

RALEIGH-DURHAM - Office 5 Fast Facts Q1 2022

Largest Economic Development Announcement in N.C. Auto manufacturer VinFast selected N.C. for its first North American manufacturing plant, investing $6.5B and creating 13,000 jobs.
Kristine Smith • 5/3/2022
Raleigh Skyline
MarketBeat • Insights


Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Raleigh/Durham Demand for Life Sciences Space Remains Strong

Increased investment and employment in the life sciences sector has driven life sciences related real estate to new heights, according to Cushman & Wakefield’s new 2022 Q1 Life Sciences Update.
Kristine Smith • 3/17/2022

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