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Market Highlights
- Overall vacancy decreased to 20.9% from 23.6% in Q1 2025, down 270 basis points (bps) while sublease vacancy rose by only 10 bps year over year to 2.6% from 2.5%.
- Johnson & Johnson announced another multibillion-dollar investment to develop a new drug manufacturing facility in Wilson, expected to create up to 500 jobs as part of its continued expansion across North Carolina.
- Effective Q2 2026, Merck is laying off approximately 150 employees at its Durham vaccine manufacturing facility following declining demand for its Gardasil vaccine, prompting a reduction in production.