{"id":1004774099,"date":"2025-10-09T00:15:53","date_gmt":"2025-10-09T08:15:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004774099"},"modified":"2025-10-09T02:09:01","modified_gmt":"2025-10-09T10:09:01","slug":"related-cos-lands-research-triangle-tenant","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/related-cos-lands-research-triangle-tenant\/","title":{"rendered":"Related Cos. Lands Research Triangle Tenant"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/The-Stitch-in-Morrisville-N.C.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"975\" height=\"732\" data-attachment-id=\"1004774101\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/the-stitch-in-morrisville-n-c-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/The-Stitch-in-Morrisville-N.C-edited.jpg\" data-orig-size=\"975,732\" 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=\"The Stitch in Morrisville, N.C.\" data-image-description=\"&lt;p&gt;Image courtesy of JLL Capital Markets, attached to the press release.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Stitch is a 250,000-square-foot office building in Morrisville, N.C.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/The-Stitch-in-Morrisville-N.C-edited.jpg?w=975\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/The-Stitch-in-Morrisville-N.C-edited.jpg\" alt=\"Nighttime exterior shot of The Stitch, a 250,000-square-foot office building in Morrisville, N.C.\" class=\"wp-image-1004774101\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/The-Stitch-in-Morrisville-N.C-edited.jpg 975w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/The-Stitch-in-Morrisville-N.C-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/10\/The-Stitch-in-Morrisville-N.C-edited.jpg?resize=768,577 768w\" sizes=\"auto, (max-width: 975px) 100vw, 975px\" \/><\/a><figcaption class=\"wp-element-caption\">The Stitch originally served as a retail property for 40 years. <br><em>Image courtesy of JLL Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Asensus Surgical has signed a 63,000-square-foot lease at Related Fund Management\u2019s 248,456-square-foot office building The Stitch in Morrisville, N.C. &nbsp;<\/p>\n\n\n\n<p>The deal marks the largest R&amp;D life science lease in the Research Triangle since 2022, according to JLL.\u00a0The brokerage firm arranged the deal on behalf of both the ownership and the medical technology company that specializes in digital surgery.<\/p>\n\n\n\n<p>As of July, the national in-place rents clocked in at $32.7 per square foot, reflecting a 15-cent drop month-over-month, but up 3.3 percent year-over-year, according to the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/office-report-discounted-sales-multiply-pressures-persist\/\">Yardi Matrix office report<\/a>. The U.S. office vacancy rate stood at 19.4 percent, unmoved from the previous month, but 130 basis points higher than the same time last year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-stitch-retail-turned-into-office\">The Stitch: retail turned into office<\/h2>\n\n\n\n<p>Originally built in 1981 to serve as a retail property, the single-story facility was converted into an office building in 2021, Yardi Research Data shows, actually bucking the ongoing trend regarding the <a href=\"https:\/\/www.commercialsearch.com\/news\/the-future-of-office-space\/\">future of office space<\/a>. After redeveloping it, Equator Capital Management sold the asset to Related Cos. for $181.8 million, or about $727 per square foot. Equitable Insurance Co. issued a $92.2 million acquisition loan.\u00a0<\/p>\n\n\n\n<p>Located at 1001 Airport Blvd. on a 25-acre site, The Stitch encloses flexible lab, office and collaboration space. Shared amenities include collaborative outdoor areas, conference and event spaces, outdoor green spaces and parking.\u00a0The low-rise is near interstates 40 and 540, as well as 13 miles from Raleigh, N.C., and Durham, N.C. The Raleigh-Durham International Airport is within 2 miles northeast.<\/p>\n\n\n\n<p>JLL Capital Markets Executive Vice President\u202fEric Forshee, Managing Director\u202fJohn MacDonell\u202fand Senior Vice President\u202fAshley Ingram\u202fworked on behalf of the landlord. Executive Vice President\u202fRyan Lawrence\u202fand Vice Chairman\u202fJoe Judge\u202frepresented the tenant.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the largest R&#038;D lease in the area in the last three years.<\/p>\n","protected":false},"author":3619,"featured_media":1004774101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21742,21747,1604,32781],"tags":[44006,32952],"class_list":["post-1004774099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-latest","category-office","category-raleigh-durham","category-southeast","tag-jll-capital-markets","tag-related-companies"],"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>Related Cos. Lands Research Triangle Tenant - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Asensus Surgical signed a 63,000-square-foot lease at Related Fund Management\u2019s 250,000-square-foot property The Stitch in Morrisville, N.C. \u00a0\" \/>\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\/related-cos-lands-research-triangle-tenant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Related Cos. 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