During the fourth quarter 2012, one building totaling 9,369 square feet were completed in the Raleigh/Durham market area. This compares to 11 buildings totaling 332,718 square feet that were completed in the third quarter 2012, three buildings totaling 215,044 square feet completed in the second quarter 2012, and nothing completed in the first quarter 2012.
There were 774,811 square feet of office space
under construction at the end of the fourth quarter 2012. Some of the notable 2012 deliveries include: NRC Building, a 165,044-square-foot facility that delivered in second quarter 2012 and is now 100% occupied, and New Wakemed Raleigh Medical Park, an 85,690-square-foot building that delivered in third quarter 2012 and is now 65% occupied.
The largest projects underway at the end of fourth quarter 2012 were 414 E Main St, a 244,279-square-foot building, and SECU Headquarters at 119 Salisbury Street, a 168,000-squarefoot facility that is 60% pre-leased.
The information in this news report is based on CoStar’s Fourth Quarter 2012 Market Report, a 40-plus page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 1-877-694-2177.