Raleigh-Durham 2021 Q3 Market Report

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Market activity continues to increase, but occupiers are still reluctant to lease large blocks of space

By the close of the third quarter, occupier activity hovered near Q2 levels, but fewer large leases were signed. In Q3, leasing activity totaled 0.8 million square feet (msf), down 9% quarter over quarter, but up 33% compared to one year ago – signalling that the market is still in recovery mode, but there is optimism with firmer return-to-office plans. Still a few notable deals closed including Cree LED taking 89,167 square feet (sf) at The Grid, Glaxo Smith Kline leasing 68,000 sf at the American Tobacco Campus, and McAdams leasing 55,000 sf at Tower Two at Bloc [83].

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