Q3 2024 Raleigh-Durham Retail Figures

‒ Raleigh-Durham’s retail market recorded 99,101 sq. ft. of net absorption during Q3 2024, bringing the year-to-date total to 447,505 sq. ft.
‒ Vacancy ended Q3 at 5.2%, up 10 basis points for the quarter and down 50 bpsyear-over-year.
‒ Construction deliveries added 157,436 sq. ft. to inventory in Q3, with 55% of the space leased upon completion. Of the 581,679 sq. ft. still underway, 67% has been reported as leased.
‒ While a handful additional big-box vacancies were added to the market in Q3, the negative absorption was offset by leasing activity elsewhere.
‒ Six Forks Road and Downtown Raleigh witnessed the strongest absorption of the quarter thanks to healthy take up of space in newly delivered mixed-use projects.