DURHAM, NC—Nimble Storage, aSilicon-Valley-based flash storage solutions company, has signed alease for the majority of the Newcastle South office building,located in the Imperial Center campus here.

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The firm inked a 47,986-square-foot lease with buildingownership Grubb Properties of Charlotte and realestate fund manager Rubenstein Partners of Philadelphia.

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“Our new East Coast home offers the 'wow factor' that will helpus tap the region's rich pool of high-tech talent as we expand ourEast Coast operations,” says Suresh Vasudevan, CEOof San Jose, CA-based Nimble Storage, which opened its first EastCoast office in Research Triangle Park in 2013.

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The Grubb Properties-Rubenstein Partners joint venture wasrepresented in the transaction by Dave Mester ofGrubb Properties and Sam Crutchfield ofGrubb Ventures. Nimble was represented bySteve Lico, David Tipton andEdwin Yarbrough of Cresa.

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The Nimble Storage transaction comes just six months after jointventure partners Grubb and Rubenstein sold Newcastle North, acompanion lab and office building, to Virginia real estateinvestment firm Capital Square Holdings. Grubb and Rubestein leasedNewcastle North in 2013 to Reichhold Industries as its worldheadquarters and technology center. Together, the two buildings—theformer GlaxoSmithKline headquarters acquired by the joint venturein 2012—represented the largest contiguous single-story commercialspace available in the I-40 corridor of the Raleigh-Durhammarket.

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The final 38,965 square feet of Newcastle South, adoughnut-shaped building surrounding a newly landscaped park-likecourtyard, is available for lease.

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“We are excited to reposition another headquarters-qualitybuilding for another premier tenant in the vibrant Raleigh-Durhammarket,” says Jonathan Nance, senior vicepresident of Grubb Properties.

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“Nimble Storage represents the kind of high-caliber technologycompany locating and expanding in this market, one of the nation'sleading research and development hubs. This major lease atNewcastle South is the latest validation of our value-addedinvestment strategy in North Carolina,” adds DanDoyon, director of acquisitions for RubensteinPartners.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.