Thursday, August 15, 2013

Tech Sector Ignites Raleigh-Durham Real Estate Market, Anchoring Innovation Hub

Jones Lang LaSalle’s national ranking of top high-tech cities puts Raleigh-Durham in the top 10, highlighting the influence of high-tech start-ups on economic growth

RALEIGH, Aug. 14, 2013 —
It’s not just Silicon Valley that forms the nucleus of the U.S. high-tech growth economy, but hubs such as Raleigh-Durham are emerging thanks to the burgeoning high-tech start-up culture. Jones Lang LaSalle’s (JLL) national ranking of top cities for high-tech companies shows the impact of the evolving start-up culture on Raleigh-Durham’s office demand, traditional workplace environment, and economy.

“Raleigh-Durham has jumped from number 16 on the national list to number nine [see graphic below],” explains Mehtab Randhawa, Raleigh-Durham Research Analyst. “That leap illustrates the impact that high-tech has had on our local economy, just within the last year.  Our market’s growth is driven by start-ups, many of which are located in incubators offering office space, access to professional services, collaboration, and venture capital opportunities.”

New center of innovation: Raleigh-Durham

For every new innovation job created in a community, five additional jobs are created in the same metropolitan area. With high-tech incubators providing centers for these clusters to thrive, an increasing number of U.S. cities are relying on the high-tech sector for economic growth.   In fact, the sector has not only stimulated real estate recovery and expansion, but it is also helping drive new construction. The top 12 markets tracked in JLL’s report account for almost 50 percent, more than 23 million square feet of new construction. At number nine, Raleigh-Durham currently has a total of 300,000 square feet of office space under construction.

JLL’s index
(see graphic) rates each city on four primary factors: high-tech employment, share of U.S. venture capital funding, intellectual capital, and innovation.  As a result, the top five markets include longstanding high-technology industry meccas – but then the list gets interesting. New York is just outside the top ten, outranked by emerging clusters such as Raleigh-Durham.

Raleigh-Durham is climbing the list rapidly with a robust high-tech cluster located in proximity to a highly-skilled labor pool of GenX and Millennial high-tech professionals, where 41.5 percent of the population aged 25 and up has their Bachelor’s degree or higher.

“High-tech start-ups continue to flock to the Triangle-area in an effort to tap into the highly-skilled talent pool of employees here,” said Randhawa. “High-tech services jobs currently make up a 14.2 percent share of office jobs in the region.  The presence of three major universities – Duke University in Durham, North Carolina State University in Raleigh, and The University of North Carolina in Chapel Hill – has helped create quality jobs in the region, driving economic growth.”

Incubators foster innovation in start-ups

Technology incubators have become the modern alternative to the suburban garages where Apple, Hewlett Packard, and other high-tech giants began. They have maintained the focus on disruptive technologies and added modern, flexible office space, amenities such as, furniture, networking, training and access to venture capital opportunities.

“Emergence of these new start-ups will not only be able to provide the requisite entrepreneurial and tech environment, but will help in recovery and expansion of the real estate sector,” Randhawa said.  “Significant capital and labor investments by these firms will be crucial in changing the work culture and business climate of Raleigh-Durham.”

For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center webpage. Bookmark it here:

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management. For further information, visit


JLL’s 2013 Top High Tech Markets
Total Weighted Score
San Francisco
Silicon Valley
San Francisco Peninsula
Seattle (Puget Sound)
Washington, DC
New York City (Manhattan)
New Jersey State
Salt Lake City
Orange County
San Diego
Los Angeles
Las Vegas


  1. There is not assurance that we can get a good investment once we try to find one for us. We sometimes need an agent to help us find the property that we needed for our family. Real Estate Investments Australia is a good company that had helped many people regarding how to find the right property for you and will help you get one.

  2. Woah! I’m really digging the template/theme of this blog. It’s simple, yet effective. A lot of times it’s tough to get that “perfect balance” between superb usability and visual appearance. I must say you’ve done a great job with this. Also, the blog loads super quick for me on Opera. Outstanding Blog!
    Arizona Luxury Real Estate

  3. Informative topic you have discuss here, I liked it, I have need this post a long time,Finally i have got it, Thanks for share...Sharon Bush

  4. We should not allow anyone to ruin our business and make sure that everything that we do is according into what we have planned. We have to focus on what really is important in our business and that is being successful in Property Investment Brisbane. We have to secure all the things that might happen in our business to favor things out in our part.

  5. It is important that we make our business safe and secured to ensure that we control our business. Any kind of help that we needed for our Property

    Investment Brisbane is important to ensure that we will help our business. Its best that we start our business well and make sure that we ensure the success

    of our investment.


  6. Town Planners
    Wow, This is very interesting! I enjoyed reading your great post.Thanks for the valuable information and insights you have shared here.

  7. Hi… i read your article. Thanks for sharing this topics about Real Estate. It really help to real estate buyers for this suggestion.I am waiting for your next article. So keep posting………..

  8. We should not give up on our investment and try to discover something that might be effective in our Property Investment Brisbane. Be a complete person by learning things that will help us achieve our goals for our business. Our career must go well to ensure that our business wil stay as successful as possible.

  9. A very informative location. The way you have share this data is really very appreciative. desire to glimpse more on this theme here. Thanks for posting this data here.
    investment finder

  10. Subdivisions Brisbane
    There is no doubt that when great minds are put together to formulate a response to an issue they can achieve anything.

  11. The Planning Place - Town Planners and RISKSMART Development Firm

    This post is really incredible, one of the most helpful I have ever read,indeed.

  12. We ought to assess issues} which can happen in our Property Investment to create that we tend to area unit ready to management things for the nice thing regarding our business. the foremost vital American states sage that my agent told me is that to search out out initial which can facilitate US run our business well.real estate investing take into account the means on however things can go what is more for our business and ensure that we tend to area unit ready to probably accomplish everything we've.

  13. I have examined your own content. It turned out and so helpful. This type of very good content that which you get created. Cheers pertaining to sharing the information you have around!
    Michigan Investment Property

  14. Estate Homes, Airpark Homes,Chinese real estate buyers,, Runway Homes, Condos, and Golf Course Homes, real estate. Karlhaus Realty Real Estate for sale in Spruce Creek Fly-In.

  15. Hi the article was really interesting,Thanks for sharing.