RTP: A Strong and Exciting Future

Original Post: https://www.buildingbullcity.com/2021/01/rtp-strong-and-exciting-future.html

Dave, happy New Year and thanks again for allowing me the opportunity to contribute to the site! Fantastic news about Adverum, hadn’t see that yet myself.

Thank you for the great post. Let me know if you have any inspiration for future posts as you are more than welcome to continue to contribute if you have the bandwidth!

Another project to keep an eye on. Fujifilm is planning a $2B expansion that will be located in close proximity to one of its existing US sites. The two primary US locations are Morrisville and College Station, TX.

https://www.heraldsun.com/news/business/article248379385.html

Longfellow, the development firm behind Durham Innovation District, announced plans for a $150MM development of new lab space off 54 adjacent to Perimeter Park. Planning for 4 new buildings at 120k square feet each. They continue to bet really big on Durham/RTP.

Looks like the Fujifilm expansion is heading to Holly Springs. Bummer but can’t win them all. Still an outstanding coup for the Triangle as a whole.

Alexandria just spent $42MM to acquire another 98 acres off Ellis Rd and So Hi Drive near the Parmer RTP campus. It doesn’t look like there is anything on this site yet so seems like a placeholder for them to develop a future project of their own or on behalf of one of their clients. Last year they bought 253 acres including the Parmer RTP campus for ~$600MM.

 Before COVID I worked in the Parmer RTP campus, then last year I noticed when it got sold to Alexandria.  

Still appears to be a ton of construction going on in the area which is interesting considering that there is likely to be a surplus of commercial real estate due to the rise of remote working.  I am curious as to what will the additional buildings and spaces will be used for.