Q1 2024 Market Reports
INDUSTRIAL
“The evolution of rising rents and spec development has cooled down in our market, but we expect it to be temporary. The increase in vacancy and sublease lease space available has been a contributing factor 1Q24, however positive absorption continues to hold in the Triad.” -Tammy Dixon, SIOR, CCIM, CMB®, (NAI Piedmont Triad/Broker)
VIEW FULL INDUSTRIAL REPORT HERE
OFFICE
“The office markets still face headwinds as tenants determine their space needs in the wake of remote working policies, but the good news is that there is an uptick in leasing activity in newer spaces with modern amenities.” -Lawrence Cox (NAI Piedmont Triad/Broker)
RETAIL
“The retail market continues to surprise owners and investors with its strength. The lack of available retail space is real, with the low vacancy rate creating a sense of urgency for qualified tenants. Landlords of well-located small shop space are increasing rents, offering limited to no concessions, and receiving multiple offers to lease. For investors seeking “value add” retail, opportunities are very limited.” -Nancy Cox (NAI Piedmont Triad/Broker)