Research Triangle Park (RTP) & the Triangle Biotech Cluster

[KJHburg]

while this sounds bad on the surface it may not be.  IBM is putting on the sublease market 3 of its 21 buildings at its RTP campus.

""Tech giant IBM (NYSE: IBM) has started marketing 630,000 square feet of space at its RTP campus, including three buildings full of office, lab and warehouse space that date back to the 1970s and '80s. The buildings join a flood of sublease space that’s come on the Triangle market since last year – including prime locations such as Advance Auto Parts' new headquarters in North Hills.  In an email, IBM confirms that it’s subleasing unused space at its campus.“We’ve recently had one tenant move out so that space is now for lease,” said spokeswoman Carrie Bendzsa. “And we had some unused space that is going up for lease too.”""

these sound like old buildings and they do note in the article 90% of their people are working remotely however they will have a hybird model in the future with their workspace.  They put their headcount at RTP at about 8000 down from 10,000 several years ago. 

IBM puts three buildings up for sublease in Research Triangle Park - Triangle Business Journal (bizjournals.com)

here is their flyer for the space and it shows the size of the IBM campus there

3039 East Cornwallis Road - Bldg 305 Warehouse/Distribution for lease 321000 SF Research Triangle Park 27709 | United States | Cushman & Wakefield (cushmanwakefield.com)

Edited June 25, 2021 by KJHburg

[rancenc]

Not only in the Research Triangle Park, but throughout the Greater Triangle area, lab space is in short supply!

https://www.wraltechwire.com/2021/07/06/report-demand-for-life-science-lab-space-in-triangle-surges-as-more-projects-pour-in/

Edited July 7, 2021 by rancenc

[KJHburg]

DPR Construction maybe based in Silicon Valley CA but its operations are huge in the RTP.

DPR Construction Regional Office at Genesis in Research Triangle Park - DPR Construction

[KJHburg]

another new job announcement 200 jobs with a Chicago based diagnostics lab called Tempus Labs

Tempus Labs launching RTP operation, plans to hire 200 workers - Triangle Business Journal (bizjournals.com)

""A next-generation health care firm is expanding in Research Triangle Park and looking to hire 200 employees as it works to use artificial intelligence to improve patient outcomes. Chicago-based biotechnology company Tempus has announced plans to open a new 52,000-square-foot genomic sequencing lab at the Parmer RTP campus, its third such laboratory after facilities in Chicago and Atlanta.""

[rancenc]

Developer planning some projects in the RTP area.

https://www.newsobserver.com/news/business/article253729028.html

[KJHburg]

this is a great video from EDP of NC about the life sciences business in NC and as you know much but not of all of it is based around the RTP area in the Triangle metro but it does reach all over the state.  

Life Sciences - All in North Carolina - YouTube

[KJHburg]

The retail portion of the HUB RTP is now going to be called the Horseshoe at the Hub.  The Hub is the project to watch in the Triangle in 2022 as vertical construction starts. 

$50M development at Hub RTP gets a name: Horseshoe | WRAL TechWire

[rancenc]

New hospital complex slated for the RTP area.

https://www.bizjournals.com/triangle/news/2021/09/29/unc-health-recieves-approval-for-252m-hospital.html

[RALNATIVE]

4 hours ago, rancenc said:

New hospital complex slated for the RTP area.

https://www.bizjournals.com/triangle/news/2021/09/29/unc-health-recieves-approval-for-252m-hospital.html

Great. Just what RTP needs. A massive hospital to support all of those new high income earners.

I'm sure that DUKE, UNC, and even WakeMed were vying for that opportunity.

[rancenc]

Jobs and expansion coming to a RTP based company.

https://www.wraltechwire.com/2021/10/04/stridebio-hiring-100-people-for-expanded-47000sqft-facility/

[KJHburg]

Just out the RTP and barely in Durham County will be a Top Golf 3rd location in the state.

Finally! Topgolf begins work on new Durham location. - Triangle Business Journal (bizjournals.com)

""Topgolf is kicking off work on their newest location in Durham. On Thursday, the company announced the start of development on the site. Plans call for a three-level, 102-bay Topgolf venue. The new location will be the company’s third in the state – it has two in the Charlotte area. The Durham location is projected to open in late summer 2022.  The project is situated on a 46-acre site at the corner of Page Road and Interstate 40. Greenville, South Carolina, developer RealtyLink bought the property for $7.5 million in September 2019.""

[carolina1792]

7 hours ago, KJHburg said:

Just out the RTP and barely in Durham County will be a Top Golf 3rd location in the state.

Finally! Topgolf begins work on new Durham location. - Triangle Business Journal (bizjournals.com)

""Topgolf is kicking off work on their newest location in Durham. On Thursday, the company announced the start of development on the site. Plans call for a three-level, 102-bay Topgolf venue. The new location will be the company’s third in the state – it has two in the Charlotte area. The Durham location is projected to open in late summer 2022.  The project is situated on a 46-acre site at the corner of Page Road and Interstate 40. Greenville, South Carolina, developer RealtyLink bought the property for $7.5 million in September 2019.""

Comes with a skydiving center too. 

[Durham_Transplant]

15 hours ago, carolina1792 said:

Comes with a skydiving center too. 

It seems like that group pulled out of the project so will be interesting to see what replaces it. Top Golf is fun though and now I won’t have to go all the way to Drive Shack when my dad and brother want to go.

[Durham_Transplant]

Alexandria Real Estate is nearing $1B+ in investment in RTP in the last 24 months. Today’s announcement that they are moving forward with a 125k square foot facility branded as the “Center for NextGen Medicines”. For those who don’t know, Alexandria is one of the largest life science real estate investors in the world and is heavily tied into the most innovative companies in the space. 
 

Announcement Link

[KJHburg]

a discussion about the future of RTP and the how the HubRTP fits in plus a 300 job expansion by Toshiba too! 

Future of the Triangle runs through Hub RTP, will require collaboration, leadership, says RTP exec at event | WRAL TechWire

Toshiba to hire as many as 300 within the next year, CEO says at TBJ event | WRAL TechWire   Toshiba announcement today

 

[DanRNC]

Here is a link to the virtual groundbreaking at HubRTP.  Hopefully this thing ends up as planned but its isolation and the lack of public transportationare are still major hurdles for making this an attractive location compared to other cities including downtown Durham,  etc. 

 https://www.youtube.com/watch?v=MwFDsISKVA0

[carolina1792]

24 minutes ago, DanRNC said:

Here is a link to the virtual groundbreaking at HubRTP.  Hopefully this thing ends up as planned but its isolation and the lack of public transportationare are still major hurdles for making this an attractive location compared to other cities including downtown Durham,  etc. 

 https://www.youtube.com/watch?v=MwFDsISKVA0

The new GoTriangle HQ/hub might be built close by to HubRTP.  Within a mile I think. 

[DanRNC]

30 minutes ago, carolina1792 said:

The new GoTriangle HQ/hub might be built close by to HubRTP.  Within a mile I think. 

They need to get that going ASAP. Without decent transit connectivity, this thing will be a glorified strip mall/office park in the middle of nowhere. I can't understand why these transportation projects move at the pace of wet concrete in the Triangle. 

[DCMetroRaleigh]

21 hours ago, DanRNC said:

They need to get that going ASAP. Without decent transit connectivity, this thing will be a glorified strip mall/office park in the middle of nowhere. I can't understand why these transportation projects move at the pace of wet concrete in the Triangle. 

It’s the most glaring and biggest weakness of the area. The area still thinks oldschool suburban instead of as a major cosmopolitan area. Wake up!

[Richhamleigh, DC]

On 11/17/2021 at 11:25 AM, DanRNC said:

They need to get that going ASAP. Without decent transit connectivity, this thing will be a glorified strip mall/office park in the middle of nowhere. I can't understand why these transportation projects move at the pace of wet concrete in the Triangle. 

Too many well-educated intellectuals with opinions who can't make a decision and will talk an issue to death.  

[KJHburg]

Not inside the RTP  but inside the Beltline an old Kroger is being turned into life sciences space  on Wake Forest Rd down from the Wegmans.  This sounds like a good project and not saying that because this is one of my former employers.

New 100,000 square foot life science facility announced at site of former Kroger in Raleigh | WRAL TechWire

Inside the Beltline life sciences space is rare indeed. 

[RALNATIVE]

1 hour ago, KJHburg said:

Not inside the RTP  but inside the Beltline an old Kroger is being turned into life sciences space  on Wake Forest Rd down from the Wegmans.  This sounds like a good project and not saying that because this is one of my former employers.

New 100,000 square foot life science facility announced at site of former Kroger in Raleigh | WRAL TechWire

Inside the Beltline life sciences space is rare indeed. 

This is setting a precedent AND establishing what will hopefully become a new biotech manufacturing corridor in the Triangle. This is also in close proximity to Kane's planned Innovation Quarters.

With few details announced, I already love it.

[KJHburg]

General article about the growth of biotech in the Triangle.

From gene therapies to medical treatments, cutting-edge research finds a home in NC :: WRAL.com

[KJHburg]

At the beginning of this pandemic I predicted NC and the Triangle in particular would boom with bio pharma job expansions and of course it has happened.

https://www.wraltechwire.com/2022/01/03/biotechs-big-year-in-nc-nearly-4b-in-investment-more-than-4800-jobs-in-2021/

[SydneyCarton]

The Triangle’s high tech economy is simply amazing.  The number of unbelievably smart people here is extraordinary.  This area is definitely mini-Boston/Bay Area.

https://amp.newsobserver.com/news/business/article257032782.html