Highwoods Breaks Ground on $110M Build-to-Suit Technology Hub for MetLife
- Nov 09, 2013
by Adriana Pop, Associate Editor
MetLife has recently celebrated the groundbreaking of its new build-to-suit global technology hub in Cary.
Developed by Highwoods Properties, the $110 million Weston Lakefront office campus will be situated on 26.5 acres fronting the 520-acre Lake Crabtree, which is adjacent to I-40 and the nearby Raleigh-Durham International Airport. Expected to achieve LEED Gold certification or higher, the complex will feature two 213,500-square-foot buildings with structured parking. Construction is scheduled to be complete in 2015.
Rule Joy Trammell + Rubio of Atlanta and Studios Architecture of Washington, D.C. are the project’s architects. Piedmont Land Design of Raleigh is the lead civil engineer, while Brasfield & Gorrie will manage construction.
Over the next 18 months, MetLife is also planning to fill more than 1,000 new positions in the Research Triangle across various functions including engineering, development, app maintenance, IT risk & security and tech support. Coupled with its new U.S. retail headquarters in Charlotte, the company’s entry in the region will bring a total of 2,600 new jobs in North Carolina by the end of 2015.
“Today’s ceremony underscores MetLife’s belief that technology will play a significant role in transforming the customer experience,” said Marty Lippert, EVP and Head of GTO, MetLife. “We are committed to establishing a best-in-class technology hub grounded in collaboration, talent and innovation, and strive to be the employer of choice for the dynamic, forward-thinking workforce in the Triangle area.”
In multi-family transaction news, the Triangle Business Journal reports that Federal Capital Partners (FCP) of Chevy Chase, Md. has paid $10.5 million to acquire the 206-unit Tree Top Apartments community in north Raleigh from an affiliate of PRG Real Estate of Philadelphia.
FCP Vice President Bryan Kane represented the buyer in the transaction, while Brandon Whitesell and Alex Brown of Cushman & Wakefield represented the seller.
The property features 13 two-story garden apartment buildings, a clubhouse with a club room and fitness center, a playground, volleyball court, lighted tennis court and community pool.
Photo credits: MetLife