Real Estate
Home›Real Estate›Residential›Flex retail leasing rises in the Triangle as developer…
Flex retail leasing rises in the Triangle as developers tout small-bay demand
Developers say small-bay flex can pair a service like plumbing supply with entertainment tenants, while smaller buildings face tighter vacancy than larger formats.
Bisnow reports that flex retail spaces are seeing increased leasing across North Carolina’s Triangle region as the area’s retail market grows after years of stagnancy.
These properties are designed as adaptable sites that combine retail storefronts with industrial back-of-house space, including storage, warehousing, or production areas, and some tenants add entertainment amenities such as indoor pickleball courts and go-kart tracks.
Bisnow also highlights developer comments that “small-bay flex” is driving interest because tenants want industrial-style square footage with a retail-facing customer experience, including setups where a single building can house both an industrial user and a recreation or service operator.
The story cites Colliers data showing vacancy for buildings under 10,000 square feet at about 1.6% in the second quarter, versus 2.9% for larger buildings, and notes that smaller, neighborhood-focused retail sites are especially competitive in the Raleigh area.