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Q1 2021 Downtown Durham Office Report

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The submarket has remained strong throughout COVID, with a slight increase in vacancies, mainly due to pressure from new supply and slower leasing activity. Rates have continued to hold steady in the existing product, while the overall average rate has increased due to new deliveries. Only one project delivered during the pandemic 555 Mangum, which opened at approximately 50% leased. Additionally, The Roxboro at Venable Center is set to deliver late 2021.

 


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Q1 2021 Downtown Durham Office Report

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Eric Forshee

Senior Vice President

Raleigh

Eric Forshee has over 11 years of experience in the commercial real estate industry, with his primary responsibilities including landlord representation of office and life science properties for both institutional and local owners in both the Triangle and Charlotte. In addition, he is involved with tenant representation for both international and local clients. Since 2009, Eric has leased over 3 million square feet totaling over $300 million in value.

Prior to joining Colliers, Eric started his career in Charlotte with The Spectrum Companies and aided in the leasing of their approximately 1.1 million square feet of high-rise office towers in Charlotte’s CBD, and approximately 1.2 million square feet of suburban property consisting of both office and flex product. Relocating to The Triangle in 2014, Eric led the leasing of The Spectrum Companies Triangle portfolio, consisting of over 2.5 million square feet.

A native of Hickory, NC, Eric has lived in Raleigh for six years. He and his wife, Andrea, have a dog (Bearn) and cat (Winnie), and enjoy traveling the world together. Additionally, Eric is a big sports fan, especially the Tar Heels.

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