{"id":1004053553,"date":"2012-04-06T11:36:43","date_gmt":"2012-04-06T19:36:43","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=42708"},"modified":"2022-12-08T20:26:46","modified_gmt":"2022-12-09T04:26:46","slug":"red-hat-subleases-headquarters-space-from-progress-energy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/","title":{"rendered":"Red Hat Subleases Headquarters Space from Progress Energy"},"content":{"rendered":"<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/images.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-42709\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/images.jpg\" alt=\"\" width=\"214\" height=\"235\" \/><\/a>by Adriana Pop, Associate Editor<\/p>\n<p>Red Hat\u00a0plans to\u00a0move its headquarters from North Carolina State University to a new 19-story, 365,000-square-foot, \u00a0hi-rise downtown.\u00a0Red Hat\u00a0will be subleasing the space from Progress Energy.<\/p>\n<p>The lease contract amounts to\u00a0about $86.68 million, not including concessions, over the next 23 years., the <em>Triangle Business Journal<\/em> reports.<\/p>\n<p>The new building, Red Hat Tower,\u00a0is situated at the corner of Wilmington and Davie streets. Company CFO Charlie Peters told <em>Triangle Business Journal<\/em> that the move would start this summer and should\u00a0be completed by\u00a0next year.<\/p>\n<p>The Raleigh-based technology company will be vacating 191,000-square-feet of space in two office buildings on N. C.\u00a0State&#8217;s Centennial Campus. According to its annual report filed with the U.S. Securities and Exchange Commission, the company\u2019s annual rental rate is about $1.7 million for the 1801 Varsity Drive building and around $1.8 million for the Venture Center III building.<\/p>\n<p>In other news, the <em>NewsObserver<\/em> reports that a high-rise apartment building has been added to plans for the Edison development in downtown Raleigh. The 320-unit building will be located at the corner of Blount, Davis, Wilmington and Martin streets and will be 20 to 22 stories high.<\/p>\n<p>Edison Land LLC Project Manager Gregg Sandreuter discussed the features of the proposed condominium tower at a City Council budget and economic development meeting. Sandreuter expects to submit a site plan in the next two or three months.<\/p>\n<p>In the mid-2000s, the original Edison plan proposed the development of four towers, but the project has been scaled back due to the recession. On the southern portion, a six-story mix of residential and retail space will replace the initially proposed 24-story office tower. Construction on the initial phase is expected to break ground in October 2013, with completion scheduled for March 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>by Adriana Pop, Associate Editor<br \/>\nRed Hat\u00a0plans to\u00a0move its headquarters from North Carolina State University to a new 19-story, 365,000-square-foot, \u00a0hi-rise downtown.\u00a0Red Hat\u00a0will be subleasing the space from Progress Energy.<br \/>\nThe lease contract amounts to\u00a0about $86.68 million, not including concessions, over the next 23 years., the Triangle Business Journal reports.<br \/>\nThe new building, Red Hat Tower,\u00a0is situated at [&#8230;]<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1604],"tags":[],"class_list":["post-1004053553","post","type-post","status-publish","format-standard","hentry","category-latest","category-raleigh-durham"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Red Hat Subleases Headquarters Space from Progress Energy - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Red Hat Subleases Headquarters Space from Progress Energy\" \/>\n<meta property=\"og:description\" content=\"by Adriana Pop, Associate Editor Red Hat\u00a0plans to\u00a0move its headquarters from North Carolina State University to a new 19-story, 365,000-square-foot, \u00a0hi-rise downtown.\u00a0Red Hat\u00a0will be subleasing the space from Progress Energy. The lease contract amounts to\u00a0about $86.68 million, not including concessions, over the next 23 years., the Triangle Business Journal reports. The new building, Red Hat Tower,\u00a0is situated at [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-04-06T19:36:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:26:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/images.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/\",\"name\":\"Red Hat Subleases Headquarters Space from Progress Energy - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/images.jpg\",\"datePublished\":\"2012-04-06T19:36:43+00:00\",\"dateModified\":\"2022-12-09T04:26:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/#primaryimage\",\"url\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/images.jpg\",\"contentUrl\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/04\/images.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Red Hat Subleases Headquarters Space from Progress Energy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad\",\"name\":\"Adriana Pop\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91\",\"caption\":\"Adriana Pop\"},\"description\":\"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\/\/www.linkedin.com\/in\/ioana-adriana-pop-811772108\/.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/adriana-pop\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Red Hat Subleases Headquarters Space from Progress Energy - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/red-hat-subleases-headquarters-space-from-progress-energy\/","og_locale":"en_US","og_type":"article","og_title":"Red Hat Subleases Headquarters Space from Progress Energy","og_description":"by Adriana Pop, Associate Editor Red Hat\u00a0plans to\u00a0move its headquarters from North Carolina State University to a new 19-story, 365,000-square-foot, \u00a0hi-rise downtown.\u00a0Red Hat\u00a0will be subleasing the space from Progress Energy. 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