JLL has signed a 13,268-square-foot lease at a new mixed-use property in Raleigh, N.C. The company’s Raleigh-Durham office will be moving from its current location at 5420 Wade Park Blvd. to Crabtree Terrace, the development underway at the corner of Creedmoor Road and Glenwood Avenue, doubling their office space in the process.
After JLL acquired HFF earlier this year for $2 billion, the headcount for their Raleigh-Durham office went up to 40. Kimarie Ankenbrand, JLL’s managing director & head of the Raleigh-Durham office, said they put a lot of thought into the office design of their Crabtree space, which aligns with their “Future of Work” report that analyzes the changing work environment. JLL’s Caitlyn Kinnaird represented JLL in the lease negotiations, while CBRE’s John Brewer and Brian Carr worked on behalf of the landlord.
Developed by East West Partners and Northridge Capital, Crabtree Terrace is expected to be completed by the end of the year, with JLL moving into its third-floor office space in early 2020. Including 145,000 square feet of Class A office space, the project has already attracted many tenants. Creative coworking space provider Spaces already signed a 32,000-square-foot lease and commercial real estate law firm Longleaf Law Partners also signed a lease for 8,000 square feet. Texas-based Perry’s Steakhouse and Grille took 12,000 square feet of the total 28,000 square feet of ground-floor retail space available.