2023 Q2 Raleigh-Durham Office Market Report

Raleigh-Durham posted the largest net reduction in occupied space on record for the market in Q1 2023 but bounced back to positive territory in Q2, due mostly to a few significant leases over the last quarter. Extreme Networks expanded into 54,000 SF in Morrisville and American Tower took down 50,000 SF at Fenton Place in Cary. Apple and Bandwidth campuses are also bright spots on the horizon as Bandwidth's 440,000 SF global HQ will deliver this summer and Apple will break ground on its East Coast hub.