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- Early Access to CoreCast Beta + Raleigh-Durham Market Update
Early Access to CoreCast Beta + Raleigh-Durham Market Update
New features coming rapidly + Secondary market insights
Spencer Vickers
June 18, 2025
CoreCast Feature Update: Scenario Analysis is Live!
We’re excited to announce that Scenario Analysis has officially landed in CoreCast! You can now duplicate your underwriting, tweak key assumptions, and flip between scenarios to compare outcomes—helping you pressure-test deals faster and with more clarity. Next iteration: Side-by-side scenario comparison coming soon! |  Scenario Analysis |
While Multifamily underwriting with a core risk profile is currently the only CoreCast-provided underwriting tool, we have something tee’d up in the coming weeks for you to be able to integrate your own excel model into CoreCast’s workflow.
What’s Next on the CoreCast Roadmap
We’ve been hard at work prioritizing what brings the most value quickly. Here’s a look at what’s coming to CoreCast soon:
Updated Pipeline Tracker
Portfolio Rollup
Professionally Designed Reporting Templates
Cash Flow Insert (From Your Model)
Key Stakeholder Portal
Setting the Stage for Automation
All of these releases are building toward one thing: full automation and platform-provided intelligence of your end-to-end asset management workflow.
In the short term, our goal is to ship meaningful wins fast, and we couldn’t do it without your feedback.
📩 We’d love to hear from you — reply back or reach out anytime with your thoughts!
Be Among the First to Shape CoreCast
We're thrilled to invite you to join the CoreCast early-access program, offering you an exclusive opportunity to influence our product's future.
Alpha Program Benefits:
Influence Product Development: Your feedback will directly shape CoreCast's roadmap.
Early Access Pricing: Secure access until September 1, 2025, for just $50/user.
Locked-In Discount: Enjoy a rate of $50/user/month for 12 months thereafter—significantly lower than our anticipated final pricing.
This is the most advantageous pricing we'll offer. Don't miss this chance to be a pivotal part of CoreCast's evolution.
We are currently releasing new features every couple of weeks to our early adopters and look forward to your feedback as an early user to help us determine what should come next.
What’s Inside Right Now
 | The alpha version includes the first features of our multifamily acquisitions forecasting and pipeline tracking tools. Whether you are managing 3 deals or 30, this gives you a streamlined way to:
We have focused on solving your actual workflow pain points—and this is just the beginning. |
But you tell us! Reach out to let us know what is most important to your CRE Investment workflow. We’re excited to build this for you.
Raleigh–Durham Market Update: Q1 2025
1. Vacancy / Availability Rates
Office:
Overall vacancy at approximately 21–23.9% in Q1 2025. CBRE reports 21.3%, up 30 bps QOQ and 200 bps YOY; Cushman & Wakefield estimates 23.9% (+10 bps QOQ).
Submarkets like Six Forks saw improvement (23.9%), while Falls of Neuse’s vacancy climbed to 17.8%.
Industrial:
Vacancy trends are mixed: Lee‑Associates shows 7.38%; CBRE records 6.4% (+40 bps); Avison Young lists 6.3%, +123 bps QOQ
Retail & Multifamily:
Specific Q1 stats are scarce, but broader trend data indicates strong population growth and sustained demand in multifamily, with vacancy near 7 %
2. Net Absorption
Office:
Net absorption was weak: Cushman reports –73,621 SF YTD, while CBRE notes –158,450 SF in Q1 alone. Mixed results across submarkets—Six Forks saw gains, RTP/I‑40 declines
Industrial:
Lee‑Associates finds 1.4 M SF absorbed in Q1, an uptick from 1.1 M in Q4
Conversely, CBRE reports –406,246 SF net in warehouse/flex space. Avison Young confirms moderate positive absorption in flex/industrial (~3 M SF).
Mixed signals likely reflect segment differences (warehouse vs flex vs manufacturing).
3. Asking Rents
Office:
Average asking rent remains near $30.90/psf per Cushman; CBRE notes a slight decline due to Class‑A leases being recorded.
Premium areas command top rent: Six Forks $40.88/psf; Downtown Durham $35.90/psf.
Industrial:
Lee‑Associates: $12.35/psf average NNN (up from $12.27).
CBRE: warehouse rents dipped to $8.98/psf; flex climbed to $17.55/psf.
Avison Young pricing varies by submarket from ~$5–$12 psf NNN.
Retail & Multifamily:
Multifamily:
Raleigh: Asking Rent averaged $1,558/unit in Raleigh, rising from $1,525 in Q4
Durham: Asking Rent averaged $1,547/unit, up from $1,533 in Q4
Retail:
Raleigh: Average NNN asking rent: $27.05, up from $26.52 in Q4 2024
Durham: Average NNN asking rent: $25.08, up from $24.91 in Q4 2024
4. Market Drivers & Insights
Economic Fundamentals: Employment is strong—RDU jobs grew 1.7% (~18,800 jobs) in Q1; unemployment held steady at 3.1% (below national 4.1%).
Flight-to-Quality: Tenants favor newer Class A office space. New lease volume was 443,000 SF, concentrated in modern buildings like West Raleigh and RTP ($)—highlighting flight-to-quality.
Amenity-Rich Office Demand: North Hills is a standout. Despite ~21% overall office vacancy, Kane Realty reports just 3.8% in newer North Hills buildings and nearly 1 M SF in active tenant prospects (55% from out-of-state).
Construction Pipeline:
Office: Minimal new deliveries; no major projects under construction .
Industrial: Under construction totals 3.9–5.4 M SF, depending on source .
5. Overall Outlook
Office: Challenges persist—elevated vacancies and negative absorption. However, limited new supply, strong flight-to-quality demand, and submarket bifurcation (North Hills, Six Forks) offer reasons for cautious optimism.
Industrial: Solid fundamentals with robust leasing, though recent vacancy uptick and slower rent growth suggest a plateau. New construction will determine whether vacancy stabilizes or rises.
Multifamily/Retail: Multifold population growth supports multifamily demand; retail likely sees pressure from broader market dynamics—though mixed-use hubs like North Hills remain resilient.
Summary Table: Q1 2025 Snapshot
Sector | Vacancy Range | Net Absorption | Asking Rent |
|---|---|---|---|
Office | ~21–23.9% ↑ QOQ | –70K to –158K SF | ≈ $30.90 /psf |
Industrial | 6.3–7.4% ↑ QOQ | +1.4M SF (absorption) / –0.4M warehouse | $9–12 /psf NNN |
Multifamily | ~11.8% - 12.3% | -1,000 units | $1,552/unit |
Retail | Moderate vacancy | Stable/mixed | N/A |
Overall Outlook
Raleigh–Durham continues to ground itself on strong economic fundamentals—job growth, low unemployment, and substantial population inflows bolster demand across sectors. While office markets face structural shifts, high-quality, amenity-rich submarkets (e.g., North Hills, Six Forks) are outperforming. Industrial remains a strong performer but may see stabilization in vacancy and rent with new deliveries. Multifamily keeps posting robust performance. Stakeholders should monitor supply dynamics, especially in industrial and office, and continue tracking submarket-specific trends.
Next Market?Vote on which market you want to hear about next |
We are building CoreCast to be your operating system for real estate underwriting, asset management, and stakeholder communication. The foundation is going in now — thanks for being here early to help us build it right.
We appreciate your patience and support as we bring CoreCast to life. Exciting things ahead.
Know other investors who could benefit from CoreCast? Share this update with them! Anyone who pre-orders CoreCast will be added to these exclusive updates.
— The CoreCast Team
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1 Raleigh-Durham - CushWake - MarketBeat Reports
2 Raleigh-Durham - CushWake - Office
3 Raleigh-Durham - CBRE - Office
4 Raleigh-Durham - Commercial Property Developer Blog - CRE Market Report
5 Raleigh-Durham - Avison Young - Industrial
6 Raleigh-Durham - Colliers - Office