{"id":1004574762,"date":"2022-04-04T04:06:10","date_gmt":"2022-04-04T12:06:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004574762"},"modified":"2022-12-09T01:01:41","modified_gmt":"2022-12-09T09:01:41","slug":"barings-jv-opens-downtown-raleigh-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/barings-jv-opens-downtown-raleigh-tower\/","title":{"rendered":"Barings JV Opens Downtown Raleigh Tower"},"content":{"rendered":"<div id=\"attachment_1004574770\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/301-Hillsborough-at-Raleigh-Crossing-e1649068841514.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004574770\" data-attachment-id=\"1004574770\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/barings-jv-opens-downtown-raleigh-tower\/301-hillsborough-at-raleigh-crossing\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/301-Hillsborough-at-Raleigh-Crossing-e1649068841514.jpg\" data-orig-size=\"1515,1137\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;6.3&quot;,&quot;credit&quot;:&quot;Justin Kase Conder&quot;,&quot;camera&quot;:&quot;ILCE-7M3&quot;,&quot;caption&quot;:&quot;@jkasephoto\\nwww.jkase.com\\nCredit: Justin Kase Conder\\nCopyright: \\u00a9 2022 Justin Kase Conder\\nUsage with express permission only.&quot;,&quot;created_timestamp&quot;:&quot;1648658466&quot;,&quot;copyright&quot;:&quot;\\u00a9 2022 Justin Kase Conder&quot;,&quot;focal_length&quot;:&quot;50&quot;,&quot;iso&quot;:&quot;320&quot;,&quot;shutter_speed&quot;:&quot;0.0003125&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"301 Hillsborough at Raleigh Crossing\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;301 Hillsborough at Raleigh Crossing. Performance by BANDALOOP. Image courtesy of Justin Kase Conder&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/301-Hillsborough-at-Raleigh-Crossing-e1649068841514.jpg?w=1024\" class=\"wp-image-1004574770 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/301-Hillsborough-at-Raleigh-Crossing-e1649068841514.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/301-Hillsborough-at-Raleigh-Crossing-e1649068841514.jpg 1515w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/301-Hillsborough-at-Raleigh-Crossing-e1649068841514.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/301-Hillsborough-at-Raleigh-Crossing-e1649068841514.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/04\/301-Hillsborough-at-Raleigh-Crossing-e1649068841514.jpg?resize=1024,769 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004574770\" class=\"wp-caption-text\">301 Hillsborough at Raleigh Crossing. Performance by BANDALOOP. Image courtesy of Justin Kase Conder<\/p><\/div>\n<p>A joint venture between<strong> Barings <\/strong>and<strong> The Fallon Co. <\/strong>has completed 301 Hillsborough at Raleigh Crossing, a 19-story tower totaling 292,500 square feet of office and retail space in downtown Raleigh, N.C.<\/p>\n<p>The Class A building is the initial phase of Raleigh Crossing, The Fallon Co.\u2019s first mixed-use development in the city. At full build-out, the project will also include additional retail space and a residential community.<\/p>\n<p>The ribbon-cutting ceremony included a performance by aerial dance company BANDALOOP on the tower\u2019s glass facade. Raleigh Mayor Mary-Ann Baldwin, representatives from The Fallon Co. including Chairman Joseph Fallon and CEO Michael Fallon, along with Linda Houston, managing director at Barings, attended the event.<\/p>\n<p>The Fallon Co. acquired the site for the mixed-use complex at 301 Hillsborough St. in 2018. The developer broke ground on the project a year later, with the help of an $85.9 million construction loan originated by <strong>First National Bank of Pennsylvania<\/strong>, according to CommercialEdge data.<\/p>\n<h2>A new mixed-use destination in the City of Oaks<\/h2>\n<div id=\"attachment_1004504185\" style=\"width: 310px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/301-Hillsborough-Raleigh-N.C..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004504185\" data-attachment-id=\"1004504185\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/barings-the-fallon-co-recap-raleigh-office-project\/barings-301-hillsborough\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/301-Hillsborough-Raleigh-N.C..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Barings&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;Barings Completes Recapitalization of 301 Hillsborough at Raleigh Crossing - Photo courtesy of Barings&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;Barings 301 Hillsborough&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Barings 301 Hillsborough\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;301 Hillsborough at Raleigh Crossing. Image courtesy of Barings &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/301-Hillsborough-Raleigh-N.C..jpg?w=800\" class=\"wp-image-1004504185 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/301-Hillsborough-Raleigh-N.C..jpg?w=300\" alt=\"Barings Completes Recapitalization of 301 Hillsborough at Raleigh Crossing -\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/301-Hillsborough-Raleigh-N.C..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/301-Hillsborough-Raleigh-N.C..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/301-Hillsborough-Raleigh-N.C..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004504185\" class=\"wp-caption-text\">301 Hillsborough at Raleigh Crossing. Image courtesy of Barings<\/p><\/div>\n<p>Designed by locally based <strong>Duda|Paine Architects<\/strong> with a focus on health and wellness, 301 Hillsborough achieved a two-star Fitwell certification. The owners are also planning to achieve LEED Gold certification.<\/p>\n<p>The office tower&#8217;s tenants have access to a fitness center that offers group classes. In addition to bike storage, a 12,000-square-foot ground-floor retail space and a spacious lobby, 301 Hillsborough also features an amenity terrace on the ninth floor with indoor and outdoor gathering spaces.<\/p>\n<p>The multi-tenant building offers 26,500-square-foot floorplates and a 650-car parking at a 2.32 spaces per 1,000 square feet ratio, CommercialEdge shows. In 2019, software startup <strong>Pendo <\/strong>signed a <a href=\"https:\/\/www.commercialsearch.com\/news\/pendo-preleases-125-ksf-in-future-raleigh-tower\/\">125,000-square-foot prelease<\/a> at 301 Hillsborough and will occupy five floors for its global headquarters. The property will also be home to law firm <strong>Nelson Mullins<\/strong>, among others.<\/p>\n<p>While Pendo moved out from <a href=\"https:\/\/www.commercialsearch.com\/news\/highwoods-properties-to-move-raleigh-hq-downtown\/\">Wells Fargo Capitol Center<\/a> at 150 Fayetteville St. just a few blocks away, another company, Highwoods Properties, set its sights on the Art Deco landmark. The locally based REIT will occupy 37,000 square feet at the 29-story, 560,000-square-foot tower.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tech startup Pendo has established its new headquarters at the property. <\/p>\n","protected":false},"author":1763,"featured_media":1004574770,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21752,21742,21747],"tags":[34275,45662,36642],"class_list":["post-1004574762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-mixed-use","category-latest","category-office","tag-barings","tag-first-national-bank-of-pennsylvania","tag-the-fallon-company"],"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>Barings JV Opens Downtown Raleigh Tower - 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