{"id":1004596509,"date":"2022-08-11T07:12:49","date_gmt":"2022-08-11T15:12:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004596509"},"modified":"2022-12-08T14:59:58","modified_gmt":"2022-12-08T22:59:58","slug":"targan-leases-new-raleigh-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/targan-leases-new-raleigh-facility\/","title":{"rendered":"TARGAN Leases New Raleigh Facility"},"content":{"rendered":"
\"The<\/a>

The Midtown BioCenter. Image courtesy of CBRE.<\/p><\/div>\n

Bio-systems company TARGAN<\/strong> has leased Midtown BioCenter, a 100,000-square-foot development under construction at 350 E. Six Forks Road in Raleigh, N.C. CBRE <\/strong>represented the landlord, East West Partners<\/strong>, while Cushman & Wakefield<\/strong> negotiated on behalf of the tenant.<\/p>\n

Originally constructed in 1991 as a Kroger grocery store, Midtown BioCenter is currently repurposed to feature high-bay lab and biomanufacturing space, as well as offices. Redline Design Group<\/strong> is the lead architect of the project, and ARCO Design\/Build<\/strong> is undertaking the reconstruction and conversion of the space. Completion is slated for 2023.<\/p>\n

\n

READ ALSO:<\/strong> Why the Life Sciences Boom Is Not Likely to Bust<\/a><\/p>\n

\n

Upon delivery, Midtown BioCenter will be the first life science-focused facility in the Midtown Raleigh area. The building\u2019s suburban location is some 4 miles north of downtown Raleigh and less than 2 miles from a mixed-use development<\/a> set to include some 500,000 square feet of office space, 90,000 square feet of retail, as well as 220 residential units.<\/p>\n

The Raleigh-Durham life science market continues to emerge and expand while the industry sees a nationwide boom<\/a>. In January,\u00a0Starwood<\/strong> and Trinity Capital<\/strong> announced their plan<\/a> to build a a $1 billion campus in Morrisville, N.C., with the first facility to be delivered in 2023.<\/p>\n

Another life science project is taking shape on 150 acres in Holly Springs, N.C. Crescent Communities and Nuveen Real Estate are developing a $500 million campus<\/a> that would include as much as 2 million square feet of biomanufacturing, lab and office space.<\/p>\n","protected":false},"excerpt":{"rendered":"

The deal comes as the Raleigh-Durham life science sector continues to grow. <\/p>\n","protected":false},"author":3012,"featured_media":1004596511,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21754,21742,21747,1604],"tags":[51642,32789,11304,51643,51641],"class_list":["post-1004596509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-medical-office","category-latest","category-office","category-raleigh-durham","tag-arco-design-build","tag-cbre","tag-raleigh","tag-redline-design-group","tag-targan"],"acf":[],"yoast_head":"\nTARGAN Leases New Raleigh Facility - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"TARGAN leased Midtown BioCenter, a 100,000-square-foot development underway in Raleigh, N.C. 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