First Tenant Expands Lease at Triangle Office Asset

The San Jose-based firm is the first tenant to commit to the recently delivered Class A property, one of the largest developments on the corner of interstates 40 and 540 in the Raleigh-Durham area.
Forty540 in Morrisville, N.C.
Forty540 in Morrisville, N.C.

Federal Capital Partners and Strategic Capital Partners announced the expansion of Align Technology’s initial 60,000-square-foot lease at Forty540, a Class A, five-story office building in Morrisville, N.C. The first tenant at the newly completed property signed on for an additional 21,519-square-foot space.

The 200,000-square-foot office development, located at 3030 Slater Road, reached completion in April. With Align Technology’s expanded lease, it is now 41 percent occupied. Availabilities at Forty540 include 102,303 square feet of contiguous upper floor space available and a 10,117-square-foot first floor suite. The property features on-site amenities such as a fitness center, showers, social hub with food options, internet café and outdoor seating areas.

CBRE Raleigh’s Edward Pulliam, senior vice president, and Brad Corsmeier, executive vice president, represented the owners in the lease negotiations, while Jason High, senior vice president at CBRE Raleigh, worked on behalf of the tenant.

CENTRAL-TRIANGLE LOCATION

The property is situated at the intersection of interstates 40 and 540 in the Research Triangle Park/I-40 submarket of Raleigh-Durham, N.C. Forty540 offers visibility along both highway corridors, with prominent building signage opportunities.

“With the building’s recent completion and Align Technology’s move-in, we are seeing strong interest in this very prominent and exceptionally located brand new product,” said FCP Senior Vice President Bryan Kane, in prepared remarks. “We look forward to their tenancy and are excited to be part of their plans in the Triangle,” added SCP President Richard Horn.

Image via Google Street View