Charles River Laboratories is the latest tenant to sign at Park Point
January 22, 2021
Trinity Capital Advisors has announced its newest tenant at Park Point, its adaptive reuse development in RTP. Charles River Laboratories Inc. has leased space on the first and second floors at the Park’s three-story Edge West building, totaling 70,369 SF.
Charles River’s North Carolina Oncology Center of Excellence provides oncology and immuno-oncology research services. The global company is a full service, early-stage contract research organization (CRO) that provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts.
After acquiring Park Point in 2019, ownership immediately began a $160 million adaptive reuse redevelopment at the nearly 100-acre site, transforming the existing space into a 655,800 SF modern life science and creative office campus. The redevelopment will be complete in September 2021.
Charles River will join GRAIL, Inc., who last year announced they were leasing 200,000 SF at Park Point and expects to take occupancy in March. Approximately 385,000 SF of space remains available for lease at the park.
Park Point is set to become one of the region’s most amenitized and accessible campuses for creative office and life science users, featuring athletic fields, walking trails, state-of-the-art fitness center, conference and training center, over 30,000-sq. ft of indoor and outdoor gathering areas, and an onsite coffee shop and café.
As a part of Research Triangle Park, Raleigh’s premier research and development campus, Park Point is located between nationally recognized universities, Duke University, University of North Carolina — Chapel Hill, and North Carolina State University, providing access to highly educated graduates. Research Triangle Park offers the largest concentration of amenities in the submarket, with easy access to I-40, I-540, and Highway 54.
“Our ownership group is thrilled to be partnering with Charles River at Park Point,” said Jeff Sheehan, Partner at Trinity Capital. “The growing life science tenancy at Park Point further validates the engagement in Research Triangle Park and our continued enthusiasm about the collaborative campus it’s creating.”
Bill Sandridge, Brendan Callahan, and Caitlyn Kinnaird from JLL represented Charles River in the transaction. Doug Cook, Senior Director at Cushman & Wakefield, leads life science leasing efforts for Park Point. William Allen, Partner, Office Leasing at Trinity Partners, handles creative office leasing responsibilities.