2021 Q4 Raleigh Office Market Report

Raleigh Office Q4 2021 Market Overview

Raleigh experienced a significant drop in the unemployment rate in Q4 2021, surpassing pre-recession employment levels and well below the national average, signifying continued post-pandemic recovery. Although leasing activity on a square-footage-basis remains below pre-pandemic levels, the market continues to see a flood of company expansions and relocations to the region. Raleigh experienced an increase in construction activity this quarter, with annual net deliveries totaling 1.3 MSF and contributing to the high vacancy rate. Investor activity surpassed $1.7B in annual sales volume, which further signifies the long-term confidence in the region.