Commercial real estate data in this section are provided by ReisReports. Reis data indicate conditions in the Triad apartment sector improved in May. Average rent in the apartment market rose 0.2% this month and has risen 3.4% over the past year. The average vacancy rate was unchanged at 5.7% (compared to 4.2% nationally), and the average rate is down from 3.4% 12 months ago.
Conditions in the office market remained poor. In May, average rent was unchanged, and the average vacancy rate was 22.5%, (among the 10 highest metro areas in the country). The rate in May was up from the 21.6% rate recorded 12 months ago.
Retail market conditions firmed somewhat during the month. Rents fell 0.1% but are up 2.1% year over year. Retail vacancies, however, averaged 11.7% in May (compared to 10.9% nationwide). The average retail vacancy rate was 0.6 percentage points lower than a month earlier and was down from 12.7% 12 months ago.
Triad Apartment Market
Triad Office Market
Triad Retail Space Market