Jul
18

Demand for Raleigh Industrial Space on the Rise

By

The Raleigh/Durham/Chapel Hill Triangle has captured national attention as a powerhouse of innovation and economic growth for many years, winning a steady stream of accolades for growth, technology, entrepreneurial drive and quality of life. So it comes as no surprise that while some parts of the country are still limping along in what has been the longest and most tepid recovery in recent memory, the Triangle is booming.

Indeed, it’s hard to find a metric that shows the region as anything less than thriving. The unemployment rate declined sharply over the past year, down over 2 percentage points from the first quarter of 2013 to 5.1 percent in April 2014, and the region has been adding jobs — more than 26,000 nonfarm jobs in the past four quarters and 7,700 in March 2014 alone. As a result, the region’s industrial market is rapidly accelerating.

Raleigh-Durham has consistently placed in the top 10 fastest growing MSAs since 1980, and the Triangle’s industrial market is primarily geared toward providing goods and services for the burgeoning local population, ensuring that demand for institutional-grade industrial product remains strong. This dynamic has also created a tendency toward a high degree of diversification, and both factors contributed to partially insulating the local warehouse market from the severe corrections suffered by national and regional distribution hubs during the recent economic downturn.

READ MORE HERE

Be Sociable, Share!
    Categories : Raleigh

    Comments are closed.