Orange County NC Website
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oxituately 15 percent. Orange County ON a vacancy rate of around I6 <br />uarter of 2009, and the Triangle Region experienced a vacancy of <br />vacancy rate of app' relatively well <br />percent during the second q h in articular, are fairing <br />industrial real estate market. Brokers reported lease rates for light <br />nearly 20 percent. Thus, Orange Count}' and Hilisboroug , P flex <br />compared to the larger regional pet, square foot per year with more adaptive <br />Per square foot per year, or around $0.75 per square foot, per <br />industrial warehouse space at around $4 ore p q square <br />foot, per year for <br />space fetching be $8 and $9 P e lease rate of $3.50 per they <br />month. In Orange County, CBRE found an average <br />warehouse spaces and $7.40 per square foot, per year for flex space. hn the Triangle region <br />lease rate of $4.26 per square foot, per year for warehouse space and $8.53 per <br />found an average square foot, per year for flex sp ace. <br />purchase in and around <br />Land opportunities for <br />There is a significant amount of large number of Properties offering oPP <br />reenfiOld land that, upon approval, could be <br />Hillsborough. Not only are there a larg <br />redevelopment, but also a reasonable amount of g' <br />developed for commercial uses. es I -Si es that <br />Stop- anticipated for redevelopment include the Danis <br />Boone Shopping Center and <br />ro ect team identified two parcels currently for sale m the <br />Utilizing Loopnet.com, the p' l <br />oxhnately $97,772 per acre. The second <br />Hillsborough market. The first is located 000 or app land Drive near intestate-85 and includes a total <br />4.04 acres for a total asking price of $395, <br />I -85 and Old Highway 86 and includes 9.65 acres for <br />both <br />is similarly located along per acre. Considering that these prop e of <br />property 000 or around $108,808 p <br />asking price of $1,050, commercial developments along the interstate, Property <br />located within close proximity to existing <br />values are likely somewhat higher than those that could be achieved along the US 70 cocci m•• <br />challenge to development efforts in tile istc edlto tile eastsofile <br />aloes are likely <br />the oule oavailability of developable land in the south side commercial district an <br />downtown areas will p <br />provide options for developers interested in commercial and <br />Cornelius Street area. The Waalso pre Economic Development s District <br />study area along US 70 may <br />office S d evelopmen.t. <br />a lina— Industrial. w�cbrecotneseuch. <br />CB Richard Ptlis. varketViM: RteighDurham, North Caro <br />Accessed: November 5, <br />6 Ibid. <br />24 <br />