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Q4 2021 Raleigh Industrial Report

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Industrial market hits an all-time low vacancy rate of 1.8% and the Raleigh-Durham market is poised to see a drop in absorption as leasing activity outpaces deliveries.

    • There is 5.8 million square feet of warehouse under construction currently in the market, with majority of the projects underway located in the emerging I-40/I-85 Corridor submarket, and the established RTP/RDU and East Wake submarkets.
    • Rental rates continue to climb as demand remains strong, with a 13%increase from the end of Q3 2021 to the end of Q4 2021.
    • The most notable leases in the fourth quarter were FedEx and Protolabs, with FedEx taking 178,000 square feet of space at the Eastpoint Building in the East Wake submarket, and Protolabs signing on to 120,000 square feet of space in the RTP/RDU submarket.

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Q4 2021 Raleigh Industrial Report

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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.

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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. 

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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.

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