Q3 2023 Raleigh-Durham Retail MarketView

Market Report Highlights

‒ Raleigh-Durham’s retail market recorded 112,971 sq. ft. of net absorption during 
Q3 2023, bringing the year-to-date total to 152,325 sq. ft.

‒ Vacancy ended Q3 2023 at 5.7%, down 10 basis points for the quarter and up 10 
bps year-over-year.

‒ Construction activity remains in line with demand, with 624,107 sq. ft. underway 
in Q3. Most of the space is concentrated in mixed-use, walkable environments.