OFFICE, INNOVATION, EMPLOYMENT & TALENT Downtown Raleigh is attracting new companies, tech incubators, Class A office projects, ultra-fast internet service, and is home to an increasingly talented workforce.
OFFICE MARKET Downtown Raleigh’s office market is booming as new supply is built to respond to very low vacancy rates and strong interest in companies moving into downtown over the past few years. On Fayetteville Street alone, 540,000+ square feet of new or renovated Class A office space is either soon to be under construction at FNB Tower and 208 Fayetteville or recently delivered at Charter Square, One City Plaza, 227 Fayetteville, 107 Fayetteville, and 224 Fayetteville.
Downtown Raleigh is the densest office market in the Triangle with more office space and employees per acre than any other submarket.
94.7% 1,000,000+ SQUARE FEET of Class A space recently delivered, under construction, or planned
589,854 SQUARE FEET Class A office space under construction or soon to begin construction
6.6% INCREASE in rental rates in 2017
OCCUPANCY RATE—HIGHEST YEAR-END
OCCUPANCY RATE IN OVER
236,920 SQUARE FEET net absorption of office space in 20172
¹JLL 2Triangle Business Journal
221,000 SQUARE FEET of co-working space under construction or delivered since 2016
INCREASE in co-working space from 2015-2019
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