Retail development in North Carolina's thriving and rapidly expanding Research Triangle is increasingly gravitating toward areas with higher housing density rather than just following high household incomes, according to a new CBRE study.
The study examined North Carolina's I-40 corridor from Durham in the north to Raleigh, where incomes have been growing rapidly due to a combination of a highly educated workforce, institutions of higher education, and a wave of private investment.
The research team divided the Raleigh and Durham region into several dozen two-mile clusters and found that, despite the prevalence of high median household incomes in the area, retail investors have largely avoided these clusters. Instead, they have chosen denser clusters with lower median household incomes.
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