Mid-Year 2023 Raleigh-Durham Retail MarketView

Market Report Highlights: 

- Raleigh-Durham's retail market recorded 39,354 sq. ft. net absorption during the first half of 2023, bringing the trailing-12-month total to 543,826 sq. ft. 

- Vacancy ended Q2 2023 at 5.8%, up 20 basis points since year-end 2022 but still down 90 bps year-over-year. 

- Construction activity held relatively steady at 521,109 sq. ft., with a majority of space concentrated in mixed-use, walkable environments.