“Not only are we seeing growth from within and outside of the market, but the tenants are requiring more complex transaction services,” Capps says. “Office vacancy rates are generally trending down, rental rates are trending upwards and we are seeing new construction throughout the market—build-to-suits and speculative—for the first time in several years.”

Managing director Tucker Shade and associate director Greg Capps will join Capps in Studley's new office. Both men were tenant advisory specialists and former colleagues at Tri Properties.

“Raleigh offers access to a highly skilled, young workforce coming out of the three world-class research universities in UNC-Chapel Hill, Duke and NC State University on an annual basis,” Capps says. “There's no question that the quality of life in Raleigh is certainly another factor for the growth we are seeing. The market's proximity to the RTP helps it capture a highly skilled work force, new companies arising from technologies and innovations developed at the universities, as well as the global investment capital and advisory personnel and firms that these companies and innovations attract.”