Overall, the market remained steady during Q2 2021, with no significant change to the overall submarket fundamentals. Additionally, there is only one project under construction, The Roxboro at Venable Center (203,429 SF), which is set to deliver in Q4 2021. Google announced in Q1 that they would be locating to the submarket, bringing approximately 1,000 jobs and leasing ±45,000 square feet from Duke University at Durham.ID. Additionally, at Durham.
ID, Longfellow completed the conversion of approximately 100,000 SF of WeWork space to lab space, reducing the available office square footage in the submarket. With minimal new square feet set to deliver in 2021, and Google’s announcement, the downtown Durham submarket is set for a quick return to pre-pandemic demand and occupancy levels.