Play ball: New building in Durham to mix baseball, business
From left to right, office buildings to line Bulls outfield
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Durham, N.C. — High-tech, life science and other businesses looking for space in Durham will soon have a new option – with some field-level baseball thrown in.
Capitol Broadcasting plans to build a new 130,000 square foot office building that will overlook left field at the Durham Bulls Athletic Park.
The company, which is the parent of WRAL TV, WRAL.com and WRAL Tech Wire, plans to begin construction of what will be called Diamond View III as early as April 1 with completion expected next year.
The structure will be the latest addition to what has become one of the hottest high-tech properties in the Triangle. From the American Underground incubator and accelerator complex to buildings that include a variety of firms across the American Tobacco Historic District, the 1 million square foot complex is already packed with tenants.
No tenants have been signed for the space, but Michael Goodmon, vice president of real estate for Capitol, said “we are in some conversations” with prospective clients.
Beyond the addition of more space, Goodmon said he and the company is excited about what Diamond View III also means to the entire Durham complex that Capitol operates.
“It’s the last piece to complete the ballpark,” Goodmon said. “This is a big piece for us.”
He said no commitments were needed before construction could start.
The new structure will include retail business and restaurant space on the first floor and will offer a much lower level view of the stadium than the adjacent structures.
It also will sit adjacent to the Durham Performing Arts Center and will be “at the very heart,” as Goodmon described it, of the American Tobacco Historic District, which is owned by Capitol.
Goodmon is optimistic Capitol will be able to lease the space, noting that “American Tobacco is between 98 and 99 percent full.” The massive complex built around a former tobacco factory covers 1 million square feet.
“We feel good about where the economic situation is headed in general,” Goodmon said. He noted that the “Class A” type of office space that the new building will include is “in very short supply” in this market.
Capitol did encounter a “hiccup” last year when GlaxoSmithKline pulled out of lease space in the complex, but Goodmon noted that Capitol soon found new tenants.
Goodmon would not talk about the cost of the building.
Diamond View III will complement Diamond View I, which was completed in 1998, and Diamond View II, which was finished in 2008. They also overlook the ballpark.
The structure is designed to fit in with the American Tobacco architectural design featuring plenty of bricks and open spaces.
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Copyright 2012 WRAL Tech Wire. All rights reserved.
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