Q2 2024 Market Reports
INDUSTRIAL
“In Q2 of 2024, the Triad Industrial real estate market remained robust with steady demand. Our region saw continued activity, particularly in submarkets with strategic transportation access like along Interstates 40, 85, and US-29. Vacancy rates varied across different areas, with some submarkets experiencing tighter conditions due to limited supply and strong tenant interest. In turn, rent prices have surged almost 6% YOY, far outpacing national averages. Overall, with recent major economic announcements, strong population and job growth the Triad will continue to be a leading Industrial market for growth, nationally.” – Ben Sturgill, (NAI Piedmont Triad/Broker)
VIEW FULL INDUSTRIAL REPORT HERE
OFFICE
“The office market will face challenges as corporate and financial footprints continue to shrink. However, this shift presents opportunities for investors and end-users to repurpose these assets at a fraction of the cost of new construction.” – Will Blackwell, SIOR (NAI Piedmont Triad/Broker)
RETAIL
“The retail corridor at I-40, Wendover Avenue, and Guilford College Road will see an increase in rent because Topgolf is opening in the area on September 1 this year, driving more than 400,000 people to the area.” – Brendan Richardson (NAI Piedmont Triad/Broker)