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Office Space for Rent in Durham, NC - 212 Listings

Durham, NC - Office Market Overview

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The Durham real estate market includes the Cameron Woods, Copper Creek, and Stadium Heights commercial real estate office submarkets. With a population of over 550,000, the city is part of the Durham - Chapel Hill metropolitan statistical area. Part of the Triangle, the economy in Durham is driven in large part by research and development companies, which create a strong demand for white-collar office space in Durham.

As of mid-2017, the Durham office market encompasses over 12 million square feet of existing office space, in properties larger than 50,000 square feet. Home to Duke University and North Carolina Central University, the city's history dates back to before the U.S. Civil War.

Durham, NC - Office Inventory Description

As part of the Research Triangle, Durham attracts more than its share of venture capital and investment. Despite its small population, the city has a gross metropolitan product of nearly $37 billion annually, with strong white-collar office employment growth year after year. Over 50% of the office space in Durham is Class A or A+, with Class B office product adding another 45% of inventory to the commercial real estate market in Durham, NC.

The Research Triangle Park office space submarket in Durham sees some of the strongest demand for R&D Class A office space in the region. Located along I-40 between I-540 and Route 147, the area is home to investment-grade office buildings such as Imperial Center - Cambridge Hall & Canterbury Hall, Research Commons, and Central Park South at 5003 South Miami Boulevard in Durham.

Durham, NC Commercial Inventory Breakdown

Office Spaces

Total: 20,782,253 SF

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

By square footage range:

  • 50k to 100k SF: 5,182,766 SF / 24.94% of total office
  • 100k to 500k SF: 12,217,640 SF / 58.79% of total office
  • 500k to 1M SF: 1,198,809 SF / 5.77% of total office
  • > 1M SF: 2,183,038 SF / 10.5% of total office

By class:

  • Class A: 10,999,855 SF / 52.93% of total office
  • Class B: 8,638,330 SF / 41.57% of total office
  • Class C: 644,156 SF / 3.1% of total office

Top 10 Largest Office Buildings

in Durham

Office building Address Sqft Year built
American Tobacco Campus 318 Blackwell Street, 27701 1,138,960 1997
Research Triangle Park - North Campus 5 Moore Drive, 27703 1,044,078 1989
Network Center 100 New Millennium Way, 27709 676,000 1986
Research Triangle Park - South Campus 5 Moore Drive, 27703 522,809 1987
One City Center 110 Corcoran Street, 27701 424,000 2018
Research Commons 79 TW Alexander Drive, 27709 422,483 1985
Research Triangle Park - IBM Buildings 500-503 4205 South Miami Blvd, 27703 363,306 1984
Research Triangle Park - Ellis Research Center 2400 Ellis Road, 27703 331,898 1992
Hock Plaza I 2424 Erwin Road, 27705 327,160 2004
University Place - Buildings 400-800 4705 University Drive, 27707 307,158 1988

Most Recently-Built Office Buildings

in Durham

Office building Address Sqft Year built
One City Center 110 Corcoran Street, 27701 424,000 2018
RTI International Campus - Horizon Building 3040 East Cornwallis Road, 27709 190,000 2018
Golden Belt Campus - Mill No.1 800 Taylor Street, 27701 185,389 2018
300 Morris Street 300 Morris Street, 27701 176,492 2018
200 Morris Street 200 Morris Street, 27701 163,353 2018
The Imperial Center - Churchill Hall 5425 Page Road, 27703 151,579 2018
Herald-Sun Building 2828 Pickett Road, 27705 140,000 2018
Duke Health Center South Durham 234 Crooked Creek Pkwy, 27713 130,390 2018
The Chesterfield Building 701 West Main Street, 27701 286,000 2017
Meridian Corporate Center - 2645 Meridian Pkwy 2645 Meridian Pkwy, 27713 76,446 2017

Durham, NC - Green Office Space

Employment

Given the role that R&D plays in the economy of Durham, it's no surprise that the demand for energy-efficient, green office space is increasing every year. An excellent example of a LEED-certified office building in Durham, NC, is the Diamond View III. With 133,000 square feet of Class A office space, the building was constructed in 2012 and boasts a LEED certification.

The 2017 National Green Building Adoption Index surveyed the top 30 largest office markets in the U.S. The percentage of energy-efficient green office space buildings increased from less than 5% in 2005, to 38% by mid-year 2017. While Durham doesn't rank in the top 30 major office markets in the country, its commitment to developing green office space is strong.

Durham, NC's Top Office-Using Sectors

The Durham commercial real estate market is largely driven by the top office-using sectors of R&D, healthcare, education, and large corporate office users.

  • Research & Development – GlaxoSmithKline, Quintiles, RTI International, Cree, Syngenta Biotechnology, and AW North Carolina are a few of the companies in the R&D office space sector that create demand for skilled, white-collar office employment.
  • Healthcare – Duke University Health System, Blue Cross and Blue Shield of North Carolina, and the Durham VA Medical Center generate consistent demand for office space in the Durham metro area.
  • Education – Duke University and North Carolina Central University produce highly skilled workers and help supply the demand for white collar employees in Durham.
  • Corporate Office – Fidelity Investments is one of the largest white-collar employers in Durham, along with IBM, BASF, and Cisco Systems.

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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