JLL to Lease 490 KSF Research Triangle Campus

King Street Properties and Nuveen Real Estate have appointed JLL as exclusive leasing broker for Eastridge at Perimeter Park, a 490,000-square-foot, nine-building life science park in Morrisville, N.C. Executive Vice Presidents Eric Forshee and John MacDonell will spearhead the leasing efforts.

As revealed by JLL’s 2022 Life Science Research Outlook report, Raleigh-Durham is the sixth-strongest life science cluster in the U.S. and fourth in terms of acquiring talent and commercial real estate assets. The market, which contributed to the delivery of 9.6 million square feet of new space last year, is recognized as one of the leading biomanufacturing hubs in North America, the same source shows.

A revitalized life science campus

King Street and Nuveen purchased Eastridge at Perimeter Park in 2020 from Somerset Properties and Alex. Brown Realty, now ABR Capital Partners. Cushman & Wakefield assisted the sellers in the deal.

Since the acquisition, King Street has implemented several enhancements at the 1980s-built property, including revamping the exterior façades and installing new signage, as well as improving the pedestrian walkways through landscaping and repaving. Additionally, the company has been investing in upgrading the infrastructure of the campus to accommodate a wide range of life science requirements.

In July, King Street has also completed the construction of a 9,000-square-foot amenity building dubbed The Shed. The amenity hub anchors the property and features training and conference spaces, a fitness center with locker rooms and showers, an indoor-outdoor tenant lounge, private collaboration rooms, a café and a golf simulator lounge.

The Class A campus is adjacent to Airport Boulevard at 100-1000 Perimeter Park Drive, providing connectivity to interstates 40 and 540. Research Triangle Park and Raleigh-Durham International Airport are less than 5 miles from the property. Various hospitality, retail and dining destinations are also close by.