8 offices results

There is a definite trend for the creative and flexible office spaces for rent in Durham that arise out of the converted texture mills and tobacco warehouses. A lot of the owners are customizing them in order to add character to the building and capitalize on that. Given the scale of the converted mills, the next spaces on the invaders’ list include the former malls, as well as big-box retails. A nationwide trend, it has eventually reached Durham and is gaining momentum. A greater advantage of the converted spaces is their density that can be hardly achieved in the modern urban facilities, and extended parking lots. Single offices for rent in Durham are growing obsolete, as more tenants are looking for the opportunities to save on the overhead costs and pay for the office premises only when they use them. The labor market is expanding in the city by 100 employees joining it daily, so most probably it will create a harsh demand for the offices in Durham. The current availability rates equal to 14%. Due to a strong pre-lease tendency, the new developments will not significantly impact the vacancy rates. Yet, there is a striking disparity between the urban and suburban areas, so the tenants with modest or moderate-income should consider the favorable options located a bit far from the downtown.

The city alone is often ranked among the metros with huge growth potential. A combination of various economic factors, such as the favorable state government, lots of universities, biosciences and others, each of which is not vital or primary, turns it into a hotspot for the investors who look for an excellent place for the long haul. At the moment, it is a top destination for the entrepreneurs and venues who are after the combination of low office rents and high-tech labor force. With the unemployment rate of nearly 4%, talent attraction is another issue for employers in the city. An increase in jobs is highly linked to the demand for more offices, as well as retail facilities. A trend later extends to the residential market, as all associates need to be housed, too. Luckily, larger tenants are moving out to the new large developments, enabling small and medium-sized ventures to have freedom of choice on space-related decisions.