CARY, NC - AVAILABLE OFFICE SPACE DECLINES
Cary - During the dot com bust in this area, Cary’s office vacancy rates dropped to more than 20%. Now, it is about 13%. Demand for space is so strong that neighboring markets are in heavy demand as well. Strangely enough, while developers are building more than 1.7 millions square feet of new office space all across the Triangle area, there are currently no leasable offices under construction in Cary. By the same token, half of the 2 million square feet of proposed offices in the Triangle are planned for Cary. As hot as the market is developers may want to wait until companies commit to space before building. I rather imagine that problems in other areas around the country are making them a bit timid.
John Fish (919) 696-3474 Email: marvmax@mindspring.com Website: wwwJohnFish.com
