Perimeter Park Signs INC Research to 215,45-SF Deal; Begins Construction of Perimeter Five Office Building
January 20, 2017
Morrisville’s Perimeter Park will soon welcome its newest tenant, as construction begins this month on Perimeter Five, INC Research’s new global headquarters.
The leading global CRO has signed a long-term lease for Perimeter Five, located at 3032 Carrington Mill Boulevard, and will occupy the entire building. Construction is expected to be complete in summer of 2018. William Allen, Partner and Director of Leasing at Trinity Partners, represented the landlord. INC Research was represented by Erika Jean McNeil with JLL.
Headquartered in Raleigh, NC, INC Research, Inc. (Nasdaq: INCR) provides clinical development services for the biopharmaceutical and medical device industries. Currently, INC Research has offices in more than 70 major cities, including London, Beijing, Tokyo, Toronto, Amsterdam, Moscow, Sidney, and Singapore.
At 214,450 SF, Perimeter Five features efficient floor plans, bright lobbies, and striking glass lines, with prominent signage and branding opportunities. The office building will feature lake views and be surrounded by the park’s amenities, steps away from green spaces and additional park amenities. Perimeter Five will also feature a structured parking deck. The combination of surface and structured parking will provide a five-per-thousand parking ratio.
“We’re honored to develop our first build-to-suit at Perimeter Park for INC Research, an innovative industry leader,” said Jeff Sheehan, Partner at Trinity Capital Advisors. “Their strategic decision to locate their global headquarters at Perimeter Park validates our belief that Perimeter Park is the region’s top choice for the best and brightest companies.”
The master-planned Perimeter Park totals three million square feet of Class-A office buildings. Located in the heart of The Triangle and minutes from Raleigh-Durham International Airport, Perimeter Park has become one of the most successful office parks in the region, currently 98% occupied. The Park is home to such notable tenants as Microsoft, Lenovo, Oracle, UNC Healthcare, MaxPoint Interactive, Teleflex, SciQuest, and ChannelAdvisor.
Since acquiring Perimeter Park in April 2015, ownership has made significant investments in the Park, including the development of a state-of-the art tenant fitness center and on-site café and meeting space, The Perk, serving the Starbucks drink menu, breakfast, and lunch. Additionally, the Park’s popular Food Truck Tuesday serves over 2500 meals a month.
“We are committed to continuing to support the world-class office park environment at Perimeter Park. We’re looking forward to additional development opportunities, including Perimeter Six and Seven,” Sheehan continued. Perimeters Six and Seven total close to 320,000 SF of Class-A office available for development within the Park.
Perimeter Five will be developed by Trinity Capital Advisors on behalf of the ownership partnership. The architect is LS3P. Brasfield & Gorrie is the general contractor and CCE the civil engineer.
About INC Research
INC Research (Nasdaq: INCR) is a leading global contract research organization (“CRO”) providing the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Leveraging the breadth of our service offerings and the depth of our therapeutic expertise across multiple patient populations, INC Research connects customers, clinical research sites, and patients to accelerate the delivery of new medicines to market. The company was named “Best Contract Research Organization” in December 2015 by an independent panel for Scrip Intelligence, and ranked “Top CRO to Work With” among large global CROs in the 2015 CenterWatch Global Investigative Site Relationship Survey. INC Research is headquartered in Raleigh, NC, with operations across six continents and experience spanning more than 110 countries. For more information, please visit www.incresearch.com and connect with us on LinkedIn and Twitter @inc_research.
About Trinity Capital Advisors
Trinity Capital Advisors focuses on the acquisition and development of institutional-quality commercial real estate in the southeastern United States. The firm has invested over $1.9 billion acquiring and developing over 15.3 million square feet of the most successful workplace real estate projects in North Carolina, South Carolina, Tennessee, and Florida, including CBD office towers, industrial portfolios, suburban office parks, and mixed use developments. Investments are capitalized through various Trinity Capital investment vehicles and partnerships with some of the country’s top institutional investors. For more information about Trinity Capital, please visit our website at trinitycapitaladvisors.com.