Raleigh-Durham, NC | 1Q 2012
The pause in market activity that took hold at the end of 2011 has spilled over into the first quarter of
2012. With vacancy falling by a tepid 10 basis points quarter-over-quarter to 17.0 percent, net absorption
totaled a meager 13,796 square feet during the entire quarter.
There was a substantial uptick in sublease activity during the quarter that centered around a number of
sizeable sublease spaces hitting the market as business leaders, expecting more demand and employment
acceleration in 2011 than actually occurred, decided to take steps to mitigate overhead expenses. Nearly
200,000 square feet of new sublease spaces being marketed during the quarter, the majority of which were
for contiguous blocks of 20,000 square feet or more.
VIEW THE FULL REPORT: RE:Source (a brief overview of market happenings with an
eye towards overall market movements)
