By Timea Papp
Avison Young has secured a new office lease at The Dillon, the first mixed-use development in downtown Raleigh’s Warehouse District. FMI has agreed to lease 20,200 square feet and will take occupancy in September 2018. Construction of The Dillon is expected to be complete in early 2018.
Located at 223 South West St., Kane Realty Corp. and Federal Capital Partners’ project will encompass an entire 2.5-acre city block. The 18-story tower will feature 220,000 square feet of Class A office space, 270 apartments in two seven-story towers, covered parking and 52,000 square feet of retail space and restaurants. Duda|Paine Architects incorporated the historic character of the Dillon Supply building and surrounding Warehouse District into the landmark development. Another Kane Realty Class A project in Raleigh, the 330,000-square-foot Midtown Plaza, opened in 2017.
FMI, a management consulting and investment banking firm, is relocating its headquarters from 5171 Glenwood Ave. Other notable office tenants at the property include Stewart Engineering (27,000 square feet) and Spaces (35,000 square feet).
Avison Young Principal Jake Jones and Senior Associate Cheshire Webb represented FMI in the lease negotiations. The Dillon’s office tower is currently 40 percent pre-leased, with openings projected for spring and summer 2018.
“Having their businesses at The Dillon is a testament to our shared vision with Federal Capital Partners for smart growth and development in Raleigh. Together, we are helping to create a vibrant lifestyle for downtown workers and residents to enjoy,” said John Kane, CEO of Kane Realty, in a prepared statement.
Rendering courtesy of Kane Realty Corp.