Foundry Commercial to Manage 1.5 MSF Industrial Office Park
- Mar 01, 2017
Raleigh, N.C.—Foundry Commercial recently announced that it is now the leasing agent and manager of one of the largest commercial properties in the Raleigh-Durham metro— the 1.5-million-square-foot Research Tri-Center industrial office park.
Located near Interstates 40 and 85, the Durham Freeway and the I-540 outer loop of Raleigh, the Research Tri-Center provides easy access to Raleigh, Durham, Chapel Hill and Cary. The 10-building property is situated within the heart of the Research Triangle area.
The property encompasses eight industrial buildings totaling 1.3 million square feet, a two-story office building totaling 59,000 square feet and a single-story flex/lab/R&D building. Currently, the park is 98 percent leased, but new tenants are expected as the new manager plans several improvements, in partnership with Clarion Partners. Upgrades include roof replacement, as well as asphalt and landscaping work.
“Having leasing and management under one roof at Research Tri-Center gives us the flexibility and capabilities that are required to maintain this high-quality asset to the best of our abilities for current and future tenants. As our property management team continues to grow in Raleigh, we are increasingly excited by opportunities like this one, which allow us to serve our customers with innovative services in an evolving market,” said John Kelly, market leader at Foundry Commercial, in prepared remarks.
The Research Tri-Center currently has two available spaces, including a 31,236-square-foot partition at the South III building and an 83,119-square-foot space at the South VIII building.
Image courtesy of Foundry Commercial