Raleigh Office Market Report
Annual full-service asking rental rates increased by 0.5% on a quarterly basis to $30.49/SF, but remain 0.7% lower than the rents observed during the third quarter of 2024. Vacancy decreased by 12 basis points on an annual basis and 49 basis points on a quarterly basis to 20.3%, but remains well above the 13-year average of 13.0%. The under-construction pipeline declined to 69,977 SF as the impacts of higher financing and construction costs have curbed groundbreakings. Total leasing activity for the quarter was 989,587 SF, which is 10.1% below the 16-year third-quarter average of 1.1 MSF.
Download Raleigh Office Market Report 3Q25