Surprise findings in a Top 25 that otherwise secures Silicon Valley’s crown as king of tech Raleigh-Durham-Chapel Hill, North Carolina., June 8, 2017 – Raleigh-Durham-Chapel Hill, North Carolina, has emerged in fifth place within the top 25 U.S. tech cities, with San Jose (Silicon Valley) and San Francisco capturing the first and second spots respectively, according to Cushman & Wakefield’s inaugural “Tech Cities 1.0” national report launched today. “Raleigh-Durham-Chapel Hill, often referred to as the ‘Triangle’ by locals because of the shape these three proximate cities form on a map, has developed into a major market for technology companies given the area’s deep pool of skilled labor, the presence of three prominent universities, and its reputation as a medical and technology research hub,” said Mr. Rich Harris, Managing Principal, Cushman & Wakefield, specializing in tenant brokerage and expert on the tech sector, Raleigh-Durham, North Carolina. The top 25 tech cities [...]
Three New Tenants Sign Leases for a Combined 80,000 SF RALEIGH, NC, May 22, 2017 – Cushman & Wakefield’s Agency Leasing team recently completed three transactions totaling 80,000 square feet at 6501 Weston Parkway (6501 Weston). As a result of this wave of activity, the three-story office building is now 90% leased. Cushman & Wakefield Managing Directors Dennis Hurley and Hillman Duncan and Associate Patti Autry negotiated the leases on behalf of the landlord, a joint-venture of Childress Klein and WHI Real Estate Partners LP. 6501 Weston’s new tenants include Charter Communications, a telecommunication service provider; Zift Solutions, a software company with a focus on channel marketing and management automation; and Aerotek, a provider of recruiting and staffing services. The building underwent significant improvements as part of a vision with the client to proactively reposition the 6501 Weston in the market. “The redevelopment strategy played an important role in our [...]
Raleigh-Durham Capital Markets Group Represents Seller in Industrial Disposition Raleigh, NC | March 31st, 2017 – Cushman & Wakefield, a global leader in commercial real estate services, announced today the sale of 4102 S Miami Boulevard, a center-of-market industrial asset located in Durham, NC, adjacent to the Research Triangle Park. Director Sara Owen along with Managing Director David Finger of the Cushman & Wakefield Raleigh-Durham Capital Markets team represented the seller, Binswanger, in the transaction. Binswanger is an international real estate organization based in Philadelphia, PA and has multiple offices around the globe, located in the US, Canada, Latin America, Europe, Middle East, and Asia. Mr. Finger added, “4102 S Miami is a 100% occupied, well-maintained, and ideally located asset in one of Raleigh-Durham’s top performing submarkets. We think the recent improvements to the property position it very well for the future.” Finger also stated, “The high level of interest [...]
Raleigh-Durham's Deb Boucher and Kathryn Lawn represented tenant Freudenberg IT in a recent lease for approximately 27,000 square feet at Keystone Park in Durham. The company began with about 10 people when it first opened in 2006 and has grown to about 150 employees in the Research Triangle Park. Freudenberg IT manages cloud data services specialized in helping companies optimize mission critical technologies, most notably SAP and Microsoft applications.
Multi-Market Team Represents Seller in Class A Office Disposition RALEIGH, NC, February 20, 2017 – Cushman & Wakefield announced today that it has negotiated the sale of Carlisle Place, Cambridge Hall, Canterbury Hall and Stratford Hall – a four building portfolio located within the Imperial Center Office Park in Durham, NC. The sales price was not disclosed. Cushman & Wakefield’s multi-market team led by Vice Chairman Paul Collins of Washington, DC and Managing Director David Finger and Director Sara Owen of Raleigh-Durham, NC represented the seller, Principal Real Estate Investors, in the transaction. Fairlead Commercial Real Estate, a specialist commercial real estate operating company headquartered in Atlanta, GA and Salt Lake, UT, acquired the portfolio, which together comprise four office buildings totaling 286,989 square feet. The Class A office buildings are 84% leased to a diverse mix of 19 tenants belonging to high-growth industries and technology sectors. “With an unparalleled [...]
On Monday, February 13th the Raleigh-Durham office organized a community outreach event for Senior citizens. The event was located at Spring Arbor retirement community in Apex. Goodie bags for 51 seniors were filled with lotion, crossword puzzles, candy and various other items. The community outreach committee has been wanting to reach out to seniors for a while now and saw a need with Valentine’s Day approaching. “Valentine’s Day can be a very lonely time for many seniors,” said Ashley Loiacano; “we wanted to bring a little joy to their day and show them that someone cares.” Participants from Cushman & Wakefield visited with members of Spring Arbor in the activity room and passed bags door to door for residents who were unable to leave their rooms. Thanks to everyone who came out and participated!
RALEIGH, NC, February 13, 2017 – Cushman & Wakefield announced today that it has negotiated the sales of 401 Foster Street and Triangle Biotechnology Center, located at 323 Foster Street, located in the Central Park District of Downtown Durham. Both properties were 100% occupied at the time of sale. Cushman & Wakefield Managing Director David Finger and Director Sara Owen represented the seller, Scientific Properties, in the transaction. 401 and 323 Foster Street, which together comprise a total of 27,691 square feet, were acquired by a joint-venture between The Seng Company and Weaver Capital Partners, two private real estate investment firms based in Atlanta. 401 Foster Street totals 9,200 rentable square feet of retail space. The building was originally constructed in the 1930s as a warehouse and in 2005 redeveloped into the space it is today. Tenants include Rise, Piedmont Restaurant, and Urban Durham Realty. Triangle Biotechnology Center is a [...]
The Carolinas Project & Development Services (PDS) team recently secured a 150,000 square foot assignment for Belgium based Lotus Bakeries, maker of the popular Biscoff cookies, that is opening its first U.S. manufacturing facility, a $50 million project, in North Carolina. The Carolinas PDS team, led by Andrew Laing, and Sam Stubbs with project support from Kara Wood will be managing the project that has plans to develop a Biscoff manufacturing plant in North Carolina. The bakery will be the first manufacturing plant for Lotus in the United States. Lotus plans to generate roughly 60 jobs with the development of the bakery. Development of the Biscoff bakery should take about two years to complete.
Raleigh-Durham’s Deb Boucher and Kathryn Lawn represented tenant Precision BioSciences in a recent expansion of 39,000 square feet of office and lab space at Venable Center in downtown Durham. For Precision BioSciences, the transaction marks an expansion of its headquarters, tripling their current 20,000 square feet for a total 59,000 square feet. The biotechnology company utilizes a groundbreaking genome editing technology, developed in Durham, that may allow it to overcome cancers, cure genetic disease and enable the development of safer, more productive food sources.
Professionals from our Raleigh-Durham office recently attended the Triangle Business Journal's 2016 Best Places to Work Awards luncheon at the Crabtree Marriott in Raleigh and won second place in the medium-size company category. Fifty winners were chosen based on an employee survey process conducted by Quantum Workplace. Once nominated, each company had to meet a threshold in employee participation—a percentage that varies based upon the size of the company—to be eligible for the honor. Click here for more information and the complete list of winners.