RALEIGH, NC-With a year left before 2250 Perimeter reaches completion, owner Duke Realty Corp. has found a tenant for 40,000 sf of the 106,431-sf office asset. Atlanta-based ZC Sterling Corp. has preleased the space to effectively double its presence here.

Currently, the class A 2250 Perimeter is under construction with a target completion date set for mid-2008, a spokesman for Duke tells GlobeSt.com. ZC Sterling will relocate to the space at the end of 2008 from its address at 1500 Perimeter Park and become the building’s lead tenant.

“The primary reason for the move is to satisfy business growth needs as we have out-grown our current space. The new facility will allow us to accommodate about 120 new jobs by 2009,” Tracy Silver, vice president of administration at ZC Sterling, explains in a statement.

The deal brings preleasing at 2250 Perimeter, which is rising within Duke’s Perimeter Park, to 38%, Duke’s spokesman adds. The spokesman did not release the lease terms, including rental rate per sf and the length of the deal; however, Colliers Pinkard puts first quarter office rents for class A properties in the Triangle at $20.64 per sf.

“Perimeter Park is a great fit for a rapidly growing company like ZC Sterling because of its flexibility to accommodate for their growth,” says Jeff Sheehan, senior vice president in Duke’s Raleigh office.

Guy Harvey of the Staubach Co. represented ZC Sterling Corp., while Hooker Manning, Duke vice president of leasing, represented ownership.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.