RALEIGH, NC-The Mang Group, an insurance advisory firm headquartered in Raleigh, has inked a deal for 2,622-square feet of Class A office space in a struggling area of the Triad. Mang is taking up residence at 5400 Glenwood Ave. in the Carolina Corporate Center.

Jim Baldwin, a real estate advisor at Coldwell Banker Commercial TradeMark Properties, represented Mang Group in a market where many tenants are actively shopping for deals. With a 20 percent vacancy rate in the Highway 70 Corridor and a 26 percent occupancy rate at the Carolina Corporate Center, Baldwin negotiated a lease with heavy concessions.

“The typical model in this area is one month free rent per year term, but most landlords are doing more than that and this deal was heavier on the free rent,” Brian Farmer, president of real estate advisory services for Coldwell Banker Commercial TradeMark Properties, tells GlobeSt.com. “The landlord also came down on the rate.”