Duke Plans First Spec Office in Five Years

RALEIGH, NC—Duke Realty Corporation just announced plans to develop a new 206,409-square-foot, class A office building in Perimeter Park, its mixed-use development in Morrisville. Known as Perimeter Two, the office building is already 50% preleased to three companies: Fujifilm Medical Systems, Compliance Implementation Services and MaxPoint Interactive.

Perimeter Two is a five-story building in Perimeter Park. Perimeter Park is a master-planned office and industrial park with more than 3.1 million square feet of existing space, and land available for up to another 1.5 million square feet of development.

“The Raleigh area, particularly the Morrisville submarket, continues to be a growing area and a desirable location for many companies,” says Jeff Sheehan, senior vice president of Duke Realty's Raleigh operations. “Ongoing interest in Perimeter Park, limited availability in our existing office properties, and space commitments by three tenants, indicate the timing is right to begin this new facility, our first speculative office development in five years.”

Perimeter Two will be located on a pad-ready site at the north end of Perimeter Park along the recently extended Carrington Mill Boulevard, which now runs through Perimeter Park from Highway 54 to Slater Road, providing a fifth access point. The building will feature about 42,000-square foot floor plates for space planning flexibility, three passenger elevators, and high-end finishes in the common areas. The modern, exterior of the building will be composed of architectural precast concrete and glass panels.  

Construction on Perimeter Two is slated to begin next month with completion in June 2014. When complete, Fujifilm Medical Systems, a leading provider of medical image and information products and technologies, will occupy 42,456 square feet. Compliance Implementation Services, a consulting firm focused on helping life sciences clients proactively manage complex compliance requirements, will lease 23,089 square feet. MaxPoint Interactive, which specializes in neighborhood targeting technology, has signed a lease for 32,715 square feet.

Located less than one mile from Raleigh-Durham International Airport, Perimeter Park is directly accessible from Interstate 40 and Interstate 540. The park is equipped with amenities including a fitness center, conference center, lodging, dining, and medical services. The Park serves as the business address for several major corporations, including Lenovo, Tekelec, and PPD.