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Commercial Real Estate in Durham, NC - 225 Properties Available

  • Durham Summit IV & V - Durham
    4101 North Roxboro Street, Stadium Heights, Durham, NC 27704
    For Lease $17.5/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 55,920 Sqft
  • TBC Place II - Durham
    4025 Stirrup Creek Drive, Research Triangle Park, Durham, NC 27703
    For Lease $14/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 17,444 Sqft
  • Central Park Two - Durham
    5003 South Miami Blvd, Research Triangle Park, Durham, NC 27703
    For Lease $24.25/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 51,347 Sqft
  • Durham Summit II - Durham
    4117 North Roxboro Street, Stadium Heights, Durham, NC 27704
    For Lease $17.5/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 51,295 Sqft
  • 2828 Croasdaile Drive - Durham
    2828 Croasdaile Drive, Croasdaile, Durham, NC 27705
    For Lease $19.5/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 44,088 Sqft
  • Durham Summit III - Durham
    3404 North Duke Street, Stadium Heights, Durham, NC 27704
    For Lease $17.5/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 39,909 Sqft
  • 201 West Main Street - Durham
    201 West Main Street, Downtown Durham, Durham, NC 27701
    For Lease $33/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 11,326 Sqft
  • Research Triangle Park - North Campus - Durham
    5 Moore Drive, Research Triangle Park, Durham, NC 27703
    Contact for pricing
    Property
    • Office
    Availability
    • 8 Spaces
    • 649,627 Sqft
  • Research Commons - Durham
    79 TW Alexander Drive, Research Triangle Park, Durham, NC 27709
    For Lease $24 - $27.5/Sqft/Year
    Property
    • Office
    Availability
    • 10 Spaces
    • 164,584 Sqft
  • Golden Belt - Durham
    807 East Main Street, Golden Belt, Durham, NC 27701
    For Lease $28.5/Sqft/Year
    Property
    • Office
    Availability
    • 18 Spaces
    • 75,094 Sqft
  • Research Triangle Park - Pamlico - Durham
    3306 East State Highway 54, Research Triangle Park, Durham, NC 27709
    For Lease $19.5/Sqft/Year
    Property
    • Office
    Availability
    • 3 Spaces
    • 37,865 Sqft
  • The Frontier - 600 Building - Research Triangle Park
    600 Park Offices Drive, Research Triangle Park, NC 27709
    For Lease $24.5/Sqft/Year
    Property
    • Office
    Availability
    • 7 Spaces
    • 27,092 Sqft
  • Meridian Corporate Center - 2700 Meridian Pkwy - Durham
    2700 Meridian Pkwy, Copper Creek, Durham, NC 27713
    For Lease $22/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 25,952 Sqft
  • Miami North Office Park - Durham
    4426 South Miami Blvd, Research Triangle Park, Durham, NC 27703
    For Lease $21.5/Sqft/Year
    Property
    • Office
    Availability
    • 2 Spaces
    • 22,613 Sqft
  • Medical Park Drive - Durham
    4321 Medical Park Drive, Summer Meadow, Durham, NC 27704
    Contact for pricing
    Property
    • Office
    Availability
    • 3 Spaces
    • 14,751 Sqft
  • One City Center - Durham
    110 Corcoran Street, Central Park, Durham, NC 27701
    For Lease $33/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 11,326 Sqft
  • Meridian Corporate Center - 2605 Meridian Pkwy - Durham
    2605 Meridian Pkwy, Copper Creek, Durham, NC 27713
    For Lease $26.5/Sqft/Year
    Property
    • Office
    Availability
    • 3 Spaces
    • 9,735 Sqft
  • 10 Laboratory Drive - Research Triangle Park
    10 Laboratory Drive, Research Triangle Park, NC 27709
    Contact for pricing
    Property
    • Office
    Availability
    • 2 Spaces
    • 8,540 Sqft
  • Tri-Center South XIV - Durham
    2511 East Cornwallis Road, Research Triangle Park, Durham, NC 27713
    For Lease $23.5/Sqft/Year
    Property
    • Office
    Availability
    • 1 Space
    • 6,113 Sqft
  • Research Triangle Park - Ellis Research Center - Durham
    2400 Ellis Road, Research Triangle Park, Durham, NC 27703
    Contact for pricing
    Property
    • Office
    Availability
    • 4 Spaces
    • 365,366 Sqft
  • Research Triangle Park - 14 TW Alexander Drive - Durham
    14 TW Alexander Drive, Research Triangle Park, Durham, NC 27709
    Contact for pricing
    Property
    • Office
    Availability
    • 2 Spaces
    • 159,855 Sqft
  • Quadrangle V - Chapel Hill
    6330 Quadrangle Drive, The Landing at Southpoint, Chapel Hill, NC 27517
    For Lease $28.5/Sqft/Year
    Property
    • Office
    Availability
    • 8 Spaces
    • 94,549 Sqft
  • Pinnacle Park III - Durham
    4407 Silicon Drive, Research Triangle Park, Durham, NC 27703
    For Lease $21.5/Sqft/Year
    Property
    • Office
    Availability
    • 4 Spaces
    • 81,092 Sqft
  • Paradigm Park - Durham
    2222 State Highway 54, Research Triangle Park, Durham, NC 27713
    Contact for pricing
    Property
    • Office
    Availability
    • 5 Spaces
    • 69,320 Sqft
  • Golden Belt Campus - Mill No.1 - Durham
    800 Taylor Street, Golden Belt, Durham, NC 27701
    Contact for pricing
    Property
    • Office
    Availability
    • 8 Spaces
    • 58,718 Sqft

Durham, NC Economic Overview

Location Photo

Strategically perched at the heart of North Carolina, the City of Durham, or the Bull City, is a confluence of education, creativity, industry and innovation. It got its name from Dr. Bartlett S. Durham, the man who donated his land for a railroad station. Although the railroad station laid its initial foundation, it was a thriving tobacco industry that put Durham on the map. It was incorporated as a town in 1869 and has served as the county seat of Durham County since 1881.

Durham is a welcoming community that seems to be always open to something new. It is a key location within the Raleigh-Durham-Chapel Hill Research Triangle Park (RTP) (or just the Triangle) and a nexus for art and culture. In 2016, Durham ranked 48 on the list of best places for business and career, on Forbes’ list.

The economy of Durham is defined by three major industries: technology, healthcare and education. Durham hosts the RTP, a high-tech research and development center, and several leading companies in technology like Cree and IBM. Also dubbed the City of Medicine, Durham has six major hospitals and an unrivalled physician-to-population ratio that is close to 4.5 times better than the national average. Finally, Durham education sector has employed a significant portion of the town’s workforce and continues to provide highly-skilled labor for its industries. The gross metro product of Durham in 2016 was about $36.6 billion.

Durham, NC Commercial Real Estate Market

The Durham commercial real estate market is often analyzed in tandem with that of its neighbor Raleigh. Notably, the industrial side of this combined market has been tight for the last few years, due to high tenant demand and short supply of industrial space. In the first quarter of 2017, the industrial vacancy rate of the Raleigh-Durham industrial market stood at 7.0%, which represented about 4.4 million square feet of vacant space, despite a negative net absorption rate of 234,301 square feet of industrial space on the Triangle flex submarket. The market has yet to fully recover from the 1.3 million square feet of industrial space vacated by GlaxoSmithKline (GSK) in 2016.

Durham office space is also in high demand, with low vacancy rates, of less that 2%, in the last six quarters.

Downtown Durham office space registered a vacancy rate of 1.3% in the first quarter of 2017 and a positive net absorption rate of 38,038 square feet of office space. The average rent price per square foot was $28.77.

The South Durham office submarket is the largest of the region, and showed a vacancy rate of 3% and a positive office absorption rate, in the first quarter of 2017. About 76,000 square feet of space were under construction in the first quarter of 2017 and the average rental rate of $21.94 was significantly lower than in the Downtown Durham submarket.

At just $14.53 per square foot of office space, the small North Durham office space submarket is the most cost-effective market for tenants. However, it had the highest vacancy rate, of 28.9%.

The general lack of large Class A properties on the Triangle office market is expected to be offset by the 1.8 million square feet of office space that is under construction, as of mid-2017.

Durham, NC Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Durham, NC Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Durham, NC Commercial Inventory Breakdown

Office Spaces

Total: 21,767,759 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 5,304,873 SF / 24.37% of total office
  • 100k to 500k SF: 13,081,039 SF / 60.09% of total office
  • 500k to 1M SF: 1,198,809 SF / 5.51% of total office
  • > 1M SF: 2,183,038 SF / 10.03% of total office

By class:

  • Class A: 10,990,555 SF / 50.49% of total office
  • Class B: 9,127,091 SF / 41.93% of total office
  • Class C: 644,156 SF / 2.96% of total office

Employment in Durham, NC

Employment

Durham’s unemployment rate has remained lower than the national average since the turn of the century. It is now down to 4.4%, from a peak of 8.5% in 2010. Job growth in Durham is about 2.25%. Jobs in health care, education and research industries are well-paying. That explains why the annual average wage of Durham residents is higher than the national average.

  • Health care and social assistance industry - The largest Raleigh & Durham workforce, of about 60,580 workers, is in the health care and social assistance industry. Duke University and its vast Medical Centre is the biggest employer with over 40,000 employees.
  • Scientific, research and technology industry - More than 48,000 workers in Durham are employed in the scientific, research and technology industry. About 40,000 of these workers are on permanent employment at the RTP. It is estimated that the RTP has incubated about 1,800 startups in the last 50 years. Major employers at the Triangle are IBM Corporation, GSK and Cisco Systems Inc.
  • The wholesale trade sector in Raleigh & Durham has employed over 25,000 workers. Lastly, The Durham Public Schools had employed 4,600 workers in 2014.

Education in Durham, NC

Durham boasts of top-notch educational resources and opportunities. Durham Public Schools system serves in excess of 33,000 students and is the seventh largest in the state of North Carolina. The North Carolina School of Science and Mathematics, a pioneer public high school with an emphasis in mathematics and science, is located in the city.

Durham is also home to the esteemed Duke University, North Carolina Central University and Durham Technical and Community College.

Commuting Time in Durham, NC

Durham has the best commute time in the region partly due to its lower population compared to that of Raleigh in the Wake County. Therefore, getting anywhere around the Triangle is easy. The average commute time in Durham is about 23.3 minutes.

Although there are efficient and affordable public bus, commuter rail and light rail systems in the Triangle, using a car remains the most preferred means.

Durham Demographics

Population

  • Total Population257,232
  • Male Population(47.0 %) 120,795
  • Female Population(53.0 %) 136,437
  • Median Age33.60

Income/Financial

  • Average Household Income$77,357
  • Median Household Income$54,284
  • Median Income Under 25$27,848
  • Median Income 25-44$54,988
  • Median Income 45-64$67,103
  • Median Income Over 65$46,708

News

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COMMERCIALCafé is your first and only stop when it comes to commercial real estate leasings in Durham, NC. Search through our extensive selection of commercial properties for lease with current space availability in the area ranging between 6113 square feet and 649627 square feet. Discover the right property from our 225 listings by using our advanced search function, which includes search by property type, space availability, management company, lease rates, and more.