Raleigh-Durham Industrial Q1 2026

Construction activity remains elevated across the market, gaining from 2.2 million sq. ft in Q4 2024 to 5.6 million sq. ft. in Q1 2026, with ongoing deliveries expanding supply and pushing availability higher. Leasing activity steadied later in the period, but vacancy continued to rise as added inventory outpaced absorption. On a year‑over‑year basis for Q1, vacancy rose 2.9% and availability increased 1.5%.

The RTP/I‑40 Corridor recently showed increased leasing activity, reinforcing this submarket’s fundamentals and critical position within the Raleigh-Durham market, while Eastern Wake County distinguished itself through tightening availability and notable absorption tied to several large occupancies.

Pricing trends reflected the changing supply mix. Overall quarter-over-quarter asking rates faced some downward pressure as Class B and C properties made up a larger share of available space. Asking rates have increased by 7.0% year-over-year market-wide. Cary sustained the highest asking rents, while Granville County remained among the most affordable, underscoring growing differentiation across submarkets as the market adjusts to elevated supply.