•Market wide lease rates continue to increase, rising from the 3rd quarter rate of $5.57 to $5.65 in the fourth quarter.

•Market dynamics yielding steady improvement, resulting in supply constraints.

•Speculative construction is limited given the low vacancy rates.

•Note: Because it is largely functionally obsolete. the 1,746,936 sq. ft. former Sears Distribution Center in North Greensboro was removed from the survey. CBRE added 920,636 sq. ft. at Whitaker Park located in the North Forsyth submarket of Winston-Salem.