2023 Q1 Raleigh-Durham Industrial Market Report
Raleigh's industrial vacancy has continued to slightly increase over the past year to its current 4.3% rate, equal to the national average. The lack of inventory is a main driver in continuing overall rent growth of 11 % year-over-year. The trend does look to be flattening with rent growth close to 3 percent from Q4 2022 to Q1 2023. Development activity continues to push outward from the market's center with industrial activity to the east, southeast and west along major interstate corridors. The lack of land and available inventory continue to make Raleigh a challenging market for industrial occupiers.