During the third quarter 2013, two buildings totaling 29,544 square feet were completed in the Raleigh/Durham market area.
This compares to two buildings totaling 20,850 square feet that were completed in the second quarter 2013, one building totaling 10,000 square feet completed in the first quarter 2013, and 92,512 square feet in three buildings completed in the fourth quarter 2012.
There were 103,091 square feet of Industrial space under construction at the end of the third quarter 2013.
Some of the notable 2013 deliveries include: 9527 Industry Dr, a 26,030-square-foot facility that delivered in third quarter 2013 and is now 100% occupied, and 5032 Unicon Dr, a 10,850-square-foot building that delivered in second quarter 2013 and is now 100% occupied.
The only project under construction at the end of third quarter 2013 was 6741 Louis Stephens Dr, a 103,091-square-foot building with 100% of its space pre-leased.
Total Industrial inventory in the Raleigh/Durham market area amounted to 120,091,349 square feet in 3,909 buildings as of the end of the third quarter 2013. The Flex sector consisted of 30,357,495 square feet in 1,564 projects. The Warehouse sector consisted of 89,733,854 square feet in 2,345 buildings. Within the Industrial market there were 107 owner-occupied buildings accounting for 10,034,269 square feet of Industrial space.
This trend is compared to U.S. National Industrial
deliveries and construction, which saw 202 buildings totaling 22.43 million square feet complete construction, with an additional 75.12 million square feet of industrial space still under construction at the end of the third quarter. The Helen of Troy Building, a 1.2 million-square-foot facility delivered in the third quarter, and the 1 million-square-foot N. Chrisman Rd. at Prologis Park Tracy II is still under development. Total industrial inventory in the U.S. market totaled 20.86 billion square feet in almost 615,000 buildings at the end of the third quarter 2013, including almost 90,000 flex projects and 68,000 owner-occupied buildings.
The information in this news report is based on CoStar’s Third 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.