RALEIGH, NC-The Mang Group, an insurance advisory firmheadquartered in Raleigh, has inked a deal for 2,622-square feet ofClass A office space in a struggling area of the Triad. Mang istaking up residence at 5400 Glenwood Ave. in the Carolina CorporateCenter.

Jim Baldwin, a real estate advisor at Coldwell Banker CommercialTradeMark Properties, represented Mang Group in a market where manytenants are actively shopping for deals. With a 20 percent vacancyrate in the Highway 70 Corridor and a 26 percent occupancy rate atthe Carolina Corporate Center, Baldwin negotiated a lease withheavy concessions.

“The typical model in this area is one month free rent per yearterm, but most landlords are doing more than that and this deal washeavier on the free rent,” Brian Farmer, president of real estateadvisory services for Coldwell Banker Commercial TradeMarkProperties, tells GlobeSt.com. “The landlord also came down on therate.”