New construction in West Raleigh is racing to catch up with demand in this robust submarket. Second quarter office vacancy rates are at 5.2%, down from 9.5% in the comparable 1999 period, according to Karnes Research Co. That compares with an average 7.5 % vacancy rate in the entire Triangle area.

A total 302,000 sf is under construction in West Raleigh with an additional 270,000 sf on the drawing boards. Capital Associates plans a two-building. 230,000-sf project on an 11-acre, $2.1 million site between Blue Ridge Road and the Beltline. Another developer, Blue Ridge Realty which has developed fives West Raleigh assets, plans to break ground this year on a 45,000-sf building.

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