Trinity Capital Welcomes New Tenant at Research Triangle Development
- Jan 25, 2021
Charles River Laboratories has signed a 70,369-square-foot lease at Park Point, a 100-acre, 655,800-square-foot life science and office development in the Research Triangle Park. JLL represented the tenant in the deal with owner Trinity Capital Advisors.
Charles River is set to occupy the first and second floors at the Park’s three-story Edge West building. The new tenant will join GRAIL Inc., which leased 200,000 square feet at the campus and expects to take occupancy in March. The park still has roughly 385,000 square feet of vacant space.
Trinity acquired the asset in 2019 and started a $160 million adaptive reuse redevelopment, which is scheduled for completion in September. Planned amenities include a fitness center, an onsite coffee shop, a conference center, gathering areas and walking trails.
Park Point has easy access to Interstate 40, N.C. Hwy. 54 and Davis Drive. Raleigh-Durham International Airport is within 5 miles of the campus.
Doug Cook, senior director at Cushman & Wakefield, leads the leasing efforts for life science space at the development, while Trinity’s William Allen handles creative office leasing responsibilities. Bill Sandridge, Brendan Callahan and Caitlyn Kinnaird of JLL represented Charles River.