Investors to convert ‘big box’ store in Garner to life science space

Investors to convert 'big box' store in Garner to life science space

RALEIGH – Developers are seeking to meet growing demand for life science office space by turning a former “big box” retail site in Garner into lab space, Main Street Capital partners and DRA Advisors announced Thursday.

Commercial real estate services firm JLL will be responsible for leasing.

The 180,017 square foot building at 4300 Fayetteville Road will be called INQ 4300. It’s scheduled to open in late summer 2022.

“We are excited to launch redevelopment efforts for INQ 4300 so it can provide unmatched opportunities for life science users in the market,” said Peter Tonon, Partner at Mainstreet Capital Partners. “Similar to INQ 1101 in Morrisville, INQ 4300 will answer the demand for strategic and innovative lab space in Raleigh and we look forward to bringing our vision to life.”

The Morrisville building is already leased to Schneider Electric and Azzur Cleanrooms on Demand.

Plans call for “creating a modern, highly amenitized laboratory and production environment for life science users,” JLL said in a statement.

“Once complete, INQ 4300 will feature new landscaping and hardscaping, glass openings, a new building facade, roof and outdoor amenity areas. INQ 4300 is the second property that Mainstreet Capital Partners and DRA Advisors have partnered together to reposition.”

John MacDonell and Taylor McCuiston will handle leasing.

“As Raleigh’s life science community continues to thrive and demand for state-of-the-art lab and production space experiences unprecedented growth, INQ 4300 will be a highly sought-after addition to the market,” said JLL’s MacDonell. “We’re confident this property will generate interest from companies looking to grow or establish a Raleigh footprint, and our team is beyond excited to once again partner with Mainstreet Capital Partners and DRA Advisors.”

Source link

About the Author

Kassie Hoffman
Kassie pens down all the news from the world of politics on ANH.