Q4 2023 Raleigh-Durham Retail MarketView

‒Raleigh-Durham’s retail market recorded 110,291 sq. ft. of net absorption during Q4 2023, bringing the year-to-date total to 262,616 sq. ft.
‒Vacancy ended Q4 2023 at 5.5%, down 20 basis points for the quarter and up 10 bps year-over-year.
‒Construction activity remains modest, with 613,647 sq. ft. underway in Q4, representing 1.4% of inventory. The space is overwhelmingly concentrated in mixed-use, walkable environments and is reported as 56% leased.