Page 33

NATIONAL CLASS A AND OVERALL AVERAGE OFFICE RENT PER SQUARE FOOT IN CBDs Downtown Raleigh has a competitively priced CBD with high enough rates to encourage new office development, but lower rates than several peer downtowns on the east coast and in other parts of the U.S. Class A Rate Only

Overall Rate

San Francisco Washington DC Boston Austin Houston Philadelphia Charlotte Nashville Atlanta Raleigh Orlando Richmond Columbia $0

$10

$20

$30

$40

$60

$50

$70

$80

Sources: Colliers, JLL

LOCAL CLASS A AND OVERALL AVERAGE RENT PER SQUARE FOOT Strong and increasing demand from the technology and innovation sector keep Class A rental rates higher in downtown Raleigh relative to many other submarkets in the Triangle, while new supply has kept rates from rising rapidly in recent years. Class A Rate Only

Overall Rate

$32

$24

$16

$8

$0

US-1/Capital Blvd

I-40/ RTP

Cary

Sources: Colliers, JLL, CBRE, Avison Young 4Q 2017

Glenwood/ Creedmoor

Whole Region

West Raleigh

Six Forks

Downtown Durham

Chapel Hill

Downtown Raleigh

OFFICE, INNOVATION, EMPLOYMENT & TALENT | 33

2018 State of Downtown Raleigh Report  
2018 State of Downtown Raleigh Report