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.
RALEIGH, NC (April 21, 2016) – Cushman & Wakefield, a global leader in commercial real estate services, announced today the sale of ownership interests in EastRidge at Perimeter Park in Morrisville, NC, and Spring Forest Business Center in Raleigh. The sales price was not disclosed. Cushman & Wakefield Managing Director David Finger and Associate Vice President Sara Owen represented the seller in the entity sale transaction. Somerset Properties, a full-service real estate investment and operating company headquartered near Philadelphia, acquired the properties, which together comprise 11 single-story buildings totaling 634,617 square feet. The portfolio is 83 percent leased to 24 tenants including IXIA, Adreima, LabCorp, Ascom North America and Allstate. “With highly flexible buildings that cater to a wide range of tenant needs including lab, office and storage, and strategic locations with exceptional access, this portfolio provided an outstanding opportunity for Somerset Properties to acquire a critical mass of high-quality real [...]