The office and life sciences markets in the Triangle face rising vacancy rates as developers navigate a challenging funding landscape and the impact of increased remote work.
Trinity Capital plans to build out move-in ready lab space on a full floor of the Roxboro building to attract smaller biotech firms amid leasing challenges.
Jeff Sheehan noted Duke University's subleasing of 350,000 square feet impacted leasing activity, stressing the competitive pressures for office and lab space in downtown Durham.
The success of smaller speculative lab spaces at the Southport Innovation Center suggests demand remains, with downtown Durham benefiting from related research spillovers from Duke University.
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