AY Adds Tenant to Raleigh Office Development

By Timea Papp

Wade IV Rendering

Avison Young negotiated a new lease at Wade IV, a 104,000-square-foot, Class A office building currently under construction in Raleigh, N.C. Sageworks, a financial information company, will move into the 33,885-square-foot space in January 2018.

Located at 5444 Wade Park Blvd., the four-story property is scheduled for delivery in early October and is part of a mixed-use campus dubbed the Offices at Wade. Amenities available to tenants include an outdoor courtyard, ample surface and underground parking. The property will be LEED Gold certified once it is completed. The Sageworks lease brings Wade IV to approximately 44 percent occupancy with 58,321 square feet of available space remaining.

Strong advisory team

Wade IV, close to completion

Avison Young Principal Arnold Siegmund and Vice President Carlo DiGiorgio represented the landlord, while Dave Bodart, a partner at Kennedy Advisors, worked on behalf of the tenant in the lease negotiations. Dominion Realty Partners and PGIM Real Estate own the Offices at Wade in a joint venture partnership. Earlier this year, Dominion Realty Partners unveiled plans to develop a 22-story office building in downtown Raleigh.

“Wade continues to attract a diverse mix of high-quality tenants. Wade IV was a completely speculative development and we’re extremely proud to welcome a tenant like Sageworks to this campus,” said Andy Andrews, Dominion Realty Partners CEO & president, in a prepared statement.

The campus is proximate to downtown Raleigh, Midtown, the Research Triangle Park, Raleigh–Durham International Airport, as well as the PNC Arena and NC State campus. The location provides access to major thoroughfares including interstates 40 and 440, U.S. Route 1 and U.S. Route 70.

Images courtesy of Avison Young