Rendering Credit: Duda|Paine Architects
KDC ANNOUNCES DEVELOPMENT PARTNERSHIP WITH RESEARCH TRIANGLE FOUNDATION FOR 1 MILLION SQUARE FEET OF OFFICE SPACE
01/29/20 | Press Release
RESEARCH TRIANGLE PARK, North Carolina – (Jan. 28, 2020) ---- KDC, a leading developer of corporate build-to-suit campus projects for major companies such as JPMorgan Chase, State Farm and Toyota, announced today a development partnership with the Research Triangle Foundation of North Carolina, the not-for-profit organization that manages Research Triangle Park, to build 1 million square feet of office space as part of Park Center East, LLC.
The new office space will be located on 100 acres of land bound by 1-40 at Davis Drive, I-40 at Highway 54 and the Durham Freeway. As part of the new multi-use urban district, called Hub RTP, KDC will develop buildings totaling up to 1 million square feet and up to 300 feet in height, which will be the first high-rise buildings within the Park.
“KDC is honored to be chosen by the Research Triangle Park Foundation as the office developer of Hub RTP,” said Larry Wilson, Division President, KDC. “The project is transformative for Research Triangle Park and will create the integrated mixed-use environment desired by today’s workforce.”
The first phase of the mixed-use development will be adjacent to the Frontier RTP startup campus, which lies on the west side of Hub RTP. The campus recently announced Boxyard RTP, a 15,000-square-foot shipping container complex, will open in 2020. Plans for Boxyard RTP include space for up to nine food and beverage vendors, as well as several retailers and service providers. Fullsteam Brewery will anchor the new complex. The development will begin with the 43 acres on the east side of the property, and include the 1M SF of office, as well as at least one hotel with up to 375 rooms, 850 residential units and 150,000 square feet of retail space. Additional phased opportunities will exist for development, totaling up to 6 million total square feet.
“This is the long-anticipated opportunity to retool RTP. With the support of Durham County, the companies in RTP and private partners including KDC, we can do this in 2020,” says Scott Levitan, President and CEO of the Research Triangle Foundation. “Today’s companies and workforce are looking for an integrated live, work and play environment. We are creating that kind of energy in the heart of RTP,” added Levitan.
Founded in 1959 and in the center of three Tier 1 research universities, Research Triangle Park is the country’s largest innovation center, with global companies such as IBM, Cisco, Credit Suisse, BASF, GlaxoSmithKline, Lenovo and RTI International among its more than 300 companies. The new mixed-use urban district is a game changer in the Park. Hub RTP will be a magnet for business and talent and is similar in size compared to nearby downtown centers.
KDC is currently developing other mixed-use office projects, including Broadway Station in Denver, CO; Park Heritage in Dallas, TX; Aureum in Nashville, TN; and Parkline in San Antonio, TX. KDC’s State Farm at Park Center development is underway in Atlanta, and KDC recently completed the expansion project for Credit Suisse in Raleigh, North Carolina.
KDC is a leading corporate build-to-suit development and investment firm for companies across the country. Within the last 30 years, KDC has produced approximately 33 million square feet valued at over $9 billion. KDC addresses the future of Corporate America by developing walkable, mixed-use urban environments anchored by notable clients, and specializes in data center and broadcast studio build-to-suits. KDC's portfolio includes developments for FedEx, J.P Morgan Chase, Liberty Mutual, Raytheon, State Farm (Dallas and Atlanta offices), and Toyota North America. KDC is headquartered in Dallas and is supported by a national team with offices in Atlanta and Charlotte, North Carolina. For more information, please visit kdc.com.
About the Research Triangle Foundation
The Research Triangle Foundation of North Carolina serves The Research Triangle Park in its mission to facilitate collaboration among our region’s industries, universities and workforce, and create economic impact for the citizens of North Carolina by attracting the world’s most innovative companies and top-tier talent to North Carolina. Situated centrally among Duke University, North Carolina State University and the University of North Carolina at Chapel Hill, RTP contains 7,000 acres, 55,000 employees, and over 300 companies and national labs, including Biogen, EPA, GlaxoSmithKline, Cisco Systems, Credit Suisse, NIEHS, Fidelity Investments, IBM, BASF, and RTI International.