{"id":1004566974,"date":"2022-02-10T05:27:06","date_gmt":"2022-02-10T13:27:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004566974"},"modified":"2022-12-08T11:06:11","modified_gmt":"2022-12-08T19:06:11","slug":"crescent-nuveen-expand-500m-research-triangle-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crescent-nuveen-expand-500m-research-triangle-campus\/","title":{"rendered":"Crescent, Nuveen Expand $500M Research Triangle Campus"},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004566978\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/crescent-nuveen-expand-500m-research-triangle-campus\/crescent-nuveen-nc-campus\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Crescent-Nuveen-NC-Campus-e1644498216680.jpg\" data-orig-size=\"3000,2250\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Crescent-Nuveen NC Campus\" data-image-description=\"&lt;p&gt;Aerial view of The Yield, Crescent Communities&#8217; mixed-use \/life science campus in Holly Springs, N.C.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Yield, newly expanded by Crescent Communities and Nuveen in North Carolina&#8217;s Research Triangle. Image courtesy of Crescent Communities.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Crescent-Nuveen-NC-Campus-e1644498216680.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Crescent-Nuveen-NC-Campus-e1644498216680.jpg?w=696\" alt=\"\" class=\"wp-image-1004566978\" width=\"1024\" height=\"576\" \/><figcaption>The Yield, newly expanded by Crescent Communities and Nuveen in North Carolina&#8217;s Research Triangle. Image courtesy of Crescent Communities.<\/figcaption><\/figure><\/div>\n\n\n<p>Crescent Communities, in partnership with Nuveen Real Estate, has acquired 120 acres in Holly Springs, N.C., part of the state&#8217;s Research Triangle. The deal greatly expands The Yield, Crescent&#8217;s&nbsp; $500 million, in-progress life science campus, the company said Wednesday.<\/p>\n<p>The addition of 120 acres to the 25 acres in the project\u2019s first phase will let Crescent develop as much as 2 million square feet of biomanufacturing, lab and office space at the campus. The Yield is intended to provide options for small, mid-size and large biotech companies to create spaces tailored to their needs.<\/p>\n<p>Phase 1 is currently under construction and includes two 105,000-square-foot speculative biomanufacturing-ready buildings, a Crescent spokesperson told <em>Commercial Property Executive<\/em>. Crescent plans to begin construction on phase 2 of The Yield in the second half of the year.<\/p>\n<p>Holly Springs is already home to such major life science companies as Fujifilm Diosynth Biotechnologies, the world\u2019s largest monoclonal antibodies facility; Seqirus, the world\u2019s largest influenza vaccine producer; and Amgen, a leader in biologic medicines.<\/p>\n<h2>Building evolution<\/h2>\n<p>This past December, <a href=\"https:\/\/www.commercialsearch.com\/news\/related-fund-acquires-coveted-life-science-campus\/\">Related Fund Management acquired The Stitch<\/a>, a 25-acre, 245,159-square-foot life science campus in Morrisville, N.C., that has the distinction of having been built as an outlet mall in 1981. Seller Equator Capital Management, along with OCS Capital, had purchased and repurposed the property, completing the transition in 2020.<\/p>\n<p>The Raleigh\/Durham area comprises one of the world\u2019s largest life science clusters, with more than 600 companies employing more than 38,000 people, according to a 2021 report from Cushman &amp; Wakefield.<\/p>\n<p>The market comprises 10.4 million square feet of lab space, with an overall vacancy rate of 15.4 percent. Cushman &amp; Wakefield noted that although the sector has traditionally been suburb-focused, more recently downtown Durham has seen pockets of lab space grow up, \u201cfueled by the demand of Duke University.\u201d<\/p>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>As much as 2 million square feet of life science-related space is planned.<\/p>\n","protected":false},"author":882,"featured_media":1004566978,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,22251,21754,21742,32781],"tags":[33484,32799,37491],"class_list":["post-1004566974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-in-focus","category-medical-office","category-latest","category-southeast","tag-crescent-communities","tag-cushman-wakefield","tag-nuveen"],"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>Crescent, Nuveen Expand $500M Research Triangle Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"As much as 2 million square feet of life science-related space is planned. A 125-acre addition to this $500 million Research Triangle campus will enable Crescent Communities to develop as much as 2 million square feet of life science-related space.\" \/>\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\/crescent-nuveen-expand-500m-research-triangle-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crescent, Nuveen Expand $500M Research Triangle Campus\" \/>\n<meta property=\"og:description\" content=\"As much as 2 million square feet of life science-related space is planned. A 125-acre addition to this $500 million Research Triangle campus will enable Crescent Communities to develop as much as 2 million square feet of life science-related space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/crescent-nuveen-expand-500m-research-triangle-campus\/\" \/>\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=\"2022-02-10T13:27:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T19:06:11+00:00\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Crescent-Nuveen-NC-Campus-e1644498216680.jpg\" \/>\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\/crescent-nuveen-expand-500m-research-triangle-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/crescent-nuveen-expand-500m-research-triangle-campus\/\",\"name\":\"Crescent, Nuveen Expand $500M Research Triangle Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crescent-nuveen-expand-500m-research-triangle-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crescent-nuveen-expand-500m-research-triangle-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/02\/Crescent-Nuveen-NC-Campus-e1644498216680.jpg\",\"datePublished\":\"2022-02-10T13:27:06+00:00\",\"dateModified\":\"2022-12-08T19:06:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"As much as 2 million square feet of life science-related space is planned. 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