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Office Space for Rent in Raleigh, NC - 359 Listings

Raleigh, NC - Office Market Overview

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The Raleigh Metropolitan Area includes the Lakeview, Ashebrook, and Country Club Hills office submarkets. With a metropolitan population of nearly 1.3 million, Raleigh’s economy is driven largely by the high-technology, healthcare, and research & education business sectors that all maintain strong demand for white-collar office space in Raleigh.

As of mid-2017, the Raleigh office market encompasses nearly 20 million square feet of existing office space in properties larger than 50,000 square feet. Raleigh is the capital of North Carolina, the state's second-largest city after Charlotte, and is one of the fastest-growing cities in the entire U.S.

Raleigh, NC - Office Inventory Description

Raleigh is part of the Research Triangle Park, attracting a tremendous amount of research & development, and venture capital. With a gross metropolitan product of nearly $69 billion annually, white-collar employment is consistently growing. Over 73% of the office space in Raleigh is Class A or A+, while Class B office product accounts for 25% of the Raleigh commercial real estate market office inventory.

The Brentwood office submarket in Raleigh sees some of the strongest demand for Class A office space in the metro area. Located along the I-440 and northwest of State Route 401, Brentwood boasts office investment property such as Smoketree Tower, Highwoods Tower Two, and The Arbor at Highwoods - Magnolia at 3120 Highwood Boulevard.

Raleigh, NC Commercial Inventory Breakdown

Office Spaces

Total: 28,982,750 SF

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

By square footage range:

  • 50k to 100k SF: 8,125,544 SF / 28.04% of total office
  • 100k to 500k SF: 19,000,429 SF / 65.56% of total office
  • 500k to 1M SF: 1,856,777 SF / 6.41% of total office

By class:

  • Class A+: 336,834 SF / 1.16% of total office
  • Class A: 16,081,325 SF / 55.49% of total office
  • Class B: 7,977,888 SF / 27.53% of total office
  • Class C: 1,555,777 SF / 5.37% of total office

Top 10 Largest Office Buildings

in Raleigh

Office building Address Sqft Year built
NCFC Office Buildings NWC North Salisbury Street & West Lane Street, 27603 750,000 n/a
400 H 400 Hillsborough Street, 27603 555,777 n/a
Wells Fargo Capitol Center 150 Fayetteville Street, 27601 551,000 1990
One Progress Plaza 411 Fayetteville Street, 27601 454,561 1977
Raleigh Corporate Center 1100 Corporate Center Drive, 27607 450,000 1997
BB&T/Two Hannover Square 434 Fayetteville Street, 27601 435,259 1991
One City Plaza 421 Fayetteville Street, 27601 373,641 1985
Red Hat Tower 100 East Davie Street, 27601 365,247 2004
FNB Tower 501 Fayetteville Street, 27601 353,739 2019
Tower 4 at North Hills 4000 Front at North Street, 27609 336,834 2020

Most Recently-Built Office Buildings

in Raleigh

Office building Address Sqft Year built
The Dillon 223 South West Street, 27603 227,000 2018
751 Corporate Center 751 Corporate Center Drive, 27607 90,000 2018
Midtown Plaza 305 Church at North Hills Street, 27609 329,214 2017
Legacy at Brier Creek 7751 Brier Creek Pkwy, 27617 116,500 2017
Center for Technology & Innovation 1010 Main Campus Drive, 27606 104,988 2017
Wade IV 5444 Wade Park Blvd, 27607 103,707 2017
3515 Glenwood Avenue 3515 Glenwood Avenue, 27612 74,634 2017
Biomedical Partnership Center at NCSU 1001 William Moore Drive, 27607 44,500 2017
3600 Wake Forest Road 3600 Wake Forest Road, 27609 98,780 2016
7850 Brier Creek Pkwy 7850 Brier Creek Pkwy, 27617 30,820 2016

Raleigh, NC - Green Office Space

Employment

Green, energy-efficient office space in Raleigh is on the upswing, as an increasing number of both tenants and investors begin to realize the long-term economic advantages of green office space.

An excellent example of a Raleigh LEED-certified office building is the Charter Square office property at 555 Fayetteville Street. Located in Raleigh's Downtown office market, this 243,000-square-foot Class A office building was built in 2015 and holds a LEED Platinum certification.

The 2017 National Green Building Adoption Index analyzed the top 30 office markets in the U.S. The survey found that the percentage of energy-efficient properties has climbed to 38%. While Raleigh does not yet rank among the top 30 U.S. office markets, the city is definitely working in that direction.

Raleigh, NC's Top Office-Using Sectors

The top office-using business sectors of research & development, healthcare, government, along with corporate headquarters, all drive the demand for Class A office space and commercial real estate in Raleigh.

  • Research & Development – Based in Raleigh, publicly-held software maker Red Hat, along with the research institutions at Duke University, North Carolina State, and Wake Forest University all help to drive the demand for white-collar R&D office space in the metro area.
  • Healthcare – Duke Raleigh Hospital, Rex Hospital, and WakeMed are some of the largest employers and users of office space in Raleigh.
  • Government – As the capital of North Carolina, government is a major user of Class A office space in the city, including the State of North Carolina, Wake County Public School System, Wake County, and the City of Raleigh.
  • Corporate Headquarters – White-collar office employment is created by the numerous companies headquartered in Raleigh, including BB&T Insurance Services, Carquest, First Citizens BancShares, and the Capitol Broadcasting Company.

Raleigh Demographics

Population

  • Total Population449,477
  • Male Population(48.3 %) 217,048
  • Female Population(51.7 %) 232,429
  • Median Age33.10

Income/Financial

  • Average Household Income$86,374
  • Median Household Income$61,505
  • Median Income Under 25$30,548
  • Median Income 25-44$63,903
  • Median Income 45-64$71,375
  • Median Income Over 65$49,396

News

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