Many of you may know that NAI Carolantic has researched and reported on the commercial real estate market for over 25 years as it relates to vacancy, absorption, new construction, etc. However, you may not know we also track market ‘activity’ in several ways.
One of the ways we study activity is by the number of prospects in the market looking for property to buy or to lease. In the first quarter of 2010, we saw an increase in activity, followed by a decrease in the second quarter. Recently, however, we have started to see an upswing in activity. Things are not getting better as quickly as we might hope, but they ARE getting better. I’m thankful I am living in the Research Triangle area and so are many of my clients.
As an example, despite being hammered for the last two years, most of my retail clients have survivied thankfully. None of them expect a quick return to a buoyant economy, but they would be the first to tell you they are also glad to be in the Research Triangle area instead of almost anywhere else in the country.