Raleigh Office Market Report
Annual full-service asking rental rates increased by 3.3% on a quarterly basis and 3.7% on an annual basis to $31.39/SF. While vacancy was flat on a quarterly basis and decreased by 94 basis points on an annual basis to 19.8%, it remains well above the 20-year average of 13.0%. The under-construction pipeline ticked up to 71,225 SF as the impacts of higher financing and construction costs have curbed groundbreakings. Total leasing activity for the quarter was 1.0 MSF, which is 14.0% below the 16-year fourth-quarter average of 1.2 MSF.
Download Raleigh Office Market Report 4Q25