2023 Q2 Raleigh Industrial Market Report

Raleigh's industrial vacancy has continued to rise over the past year from historic lows, to its current vacancy of 4.1%. This lack of inventory continues to be a challenge for occupiers and is a main driver in continuing overall rent growth of 10%, year-over-year.

The scarcity of land and development for the life science industry continues to impact available inventory. As a result, development activity continues to push outward from the market's center with industrial activity to the east, southeast and west along major interstate corridors.