In 2023 the Wake County, NC commercial real estate market totaled 71,225,625 square feet of office spaces, 36,384,723 square feet of office spaces with retail, and 46,433,800 square feet of industrial space.
Office Spaces
Total: 71,225,625 SF
Data provided by Yardi Matrix, properties over 50k SF, includes office with retail
By square footage range:
| Range |
Total square feet |
Share of total |
| 50k to 100k SqFt |
16,896,443 SqFt |
23.72% of total office |
| 100k to 500k SqFt |
42,770,160 SqFt |
60.05% of total office |
| 500k to 1M SqFt |
5,419,214 SqFt |
7.61% of total office |
| > 1M SqFt |
6,139,808 SqFt |
8.62% of total office |
By class:
| Class |
Total square feet |
Share of total |
| Class A+ |
336,834 SqFt |
0.47% of total office |
| Class A |
36,465,062 SqFt |
51.2% of total office |
| Class B |
14,910,991 SqFt |
20.93% of total office |
| Class C |
1,533,727 SqFt |
2.15% of total office |
Roughly 7.61% of the total office space in Wake County, NC is comprised of properties between 500K to 1M square feet, and buildings between 50k to 100k square feet represent 23.72% of the office inventory.
Class A office space holds a 51.2% share of the overall Wake County, NC office market, while Class B office assets make up approximately 20.93%.
Industrial
Total: 46,433,800 SF
Data provided by Yardi Matrix, properties over 50k SF
By square footage range:
| Range |
Total square feet |
Share of total |
| 50k to 100k SqFt |
11,873,484 SqFt |
25.57% of total industrial |
| 100k to 500k SqFt |
29,612,782 SqFt |
63.77% of total industrial |
| 500k to 1M SqFt |
2,406,428 SqFt |
5.18% of total industrial |
| > 1M SqFt |
2,541,106 SqFt |
5.47% of total industrial |
By class:
| Class |
Total square feet |
Share of total |
| Class A |
16,749,286 SqFt |
36.07% of total industrial |
| Class B |
21,606,298 SqFt |
46.53% of total industrial |
| Class C |
1,189,126 SqFt |
2.56% of total industrial |
There are 29,612,782 square feet of commercial real estate properties between 100k to 500k square feet, representing 63.77% of the Wake County, NC industrial inventory. Class A assets total 16,749,286 square feet of industrial space, with an additional 21,606,298 square feet of Class B and 1,189,126 square feet of Class C properties.
Office Spaces with Retail
Total: 36,384,723 SF
Data provided by Yardi Matrix, properties over 50k SF
By square footage range:
| Range |
Total square feet |
Share of total |
| 50k to 100k SqFt |
9,632,039 SqFt |
26.47% of total office with retail |
| 100k to 500k SqFt |
22,784,876 SqFt |
62.62% of total office with retail |
| 500k to 1M SqFt |
2,567,808 SqFt |
7.06% of total office with retail |
| > 1M SqFt |
1,400,000 SqFt |
3.85% of total office with retail |
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