During the second quarter 2013, two buildings totaling 20,850 square feet were completed in the Raleigh/Durham market area.
This compares to one building totaling 8,891 square feet that were completed in the first quarter 2013, three buildings totaling 92,512 square feet completed in the fourth quarter 2012, and 7,985 square feet in one building completed in the third quarter 2012.
There were 29,544 square feet of Industrial space
under construction at the end of the second quarter 2013.
Some of the notable 2013 deliveries include: 5032 Unicon Dr, a 10,850-square-foot facility that delivered in second quarter 2013 and is now 100% occupied, and 99 Tw Alexander Dr, a 10,000-square-foot building that delivered in second quarter 2013 and is now 100% occupied.
The largest projects underway at the end of second quarter 2013 were 9527 Industry Dr, a 26,030-square-foot building with 100% of its space pre-leased, and 2708 Connector Dr, a 3,514-square-foot facility that is 100% pre-leased.
Total Industrial inventory in the Raleigh/Durham market area amounted to 120,053,948 square feet in 3,907 buildings as of the end of the second quarter 2013. The Flex sector consisted of 30,326,086 square feet in 1,562 projects. The Warehouse sector consisted of 89,727,862 square feet in 2,345 buildings. Within the Industrial market there were 109 owner-occupied buildings accounting for 10,047,177 square feet of Industrial space.
This trend is compared to U.S. National Industrial
deliveries and construction, which saw 167 buildings totaling 17.46 million square feet complete construction with an additional 56.6 million square feet of industrial space still under construction at the end of the second quarter. The 1.29 million-square-foot Home Depot BTS delivered in the Atlanta market, and the 1.8 million-square-foot Intel Ronler Acres D1X in the Portland market is still underway. Total industrial inventory in the U.S. market area totaled 20.8 billion square feet in more than 611,000 buildings at the end of the second quarter 2013, including almost 67,500 owner-occupied industrial buildings.
The information in this news report is based on CoStar’s Second Quarter 2013 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.