Skip to main content Skip to footer

Q1 2021 Raleigh Industrial Report

Download Report
alt=""

Industrial Tenant Demand Continuing to Rise Post-Pandemic

  • Triangle’s industrial sector grew at a rapid pace in the first quarter of 2021, following the national trend.

  • Despite the fact that several new projects broke ground and construction progressed, there was only one delivery during the quarter: a 48,650 square foot flex building in the Merritt TW Crossing building park in the RTP/RDU submarket.

  • In the coming quarters, many medium block second-generation spaces are expected to resurface on the market, addressing tenant demand and a lack of supply in land-constrained core markets.

  • As a result of this demand, rental prices are continuing to rise.

 


alt=""

Q1 2021 Raleigh Industrial Report

Download Report
Related Experts

Larry Lakins

Senior Vice President

Raleigh

As a Senior Vice President & Principal of Colliers International | Raleigh, Larry focuses on Industrial Project Leasing throughout the Triangle, Triad, and the coastal area of eastern North Carolina. His experience in the commercial real estate industry spans well over twenty-two years and encompasses services including industrial landlord and tenant representation, Investment Sales, and Real Estate Development. Prior to joining Colliers, Larry was with Cushman and Wakefield’s Industrial Services Group.

Larry has been acknowledged in the industry as a consistent top producer, He is recognized for his leadership roles in the real estate community, as he has served as the President of the Triangle Commercial Association of REALTORS (TCAR).   Larry has served as President of Hilltop Home a nonprofit intermediate care facility for children with developmental disabilities.   He currently serves as the chair of their foundation.

View expert

Hunter Willard

Senior Vice President & Principal, Industrial Services

Raleigh

Hunter Willard, Senior Vice President and Principal of Colliers International, is a member of the Industrial Services team in Raleigh. With more than 13 years of experience, Hunter focuses on tenant and landlord representation, as well as investment and owner/occupier sales. He has achieved an excellent reputation among his peers and prospects for his commitment to service excellence. 

Prior to joining Colliers,  Hunter was on the Industrial team at Cushman & Wakefield. Hunter concentrated on landlord and tenant representation, where his responsibilities included client portfolio management, strategy and execution of commercial properties for lease and for sale, and corporate relocations and expansions for local and national clients. Hunter also previously worked in finance and sales as a commercial mortgage broker. His knowledge and experience affords him an extensive understanding of the banking and lending industries, which aids in providing clients with a full perspective and an advantage. 

View expert

Andrew Young

Vice President

Raleigh

Andrew is a real estate professional on Colliers Raleigh’s Industrial Services team. Prior to joining Colliers, Andrew was a member of Cushman & Wakefield’s Logistics and Industrial Service Group, serving clients with tenant representation and agency leasing services. Andrew provides his clients with strategic market research, financial analysis, client management and transactional services. Drawing on a background in real estate research and finance, Mr. Young drives value for his clients by ensuring that they have the knowledge they need to make informed real estate decisions.

View expert