Duke Realty Corporation is Lenovo’s choice to develop the buildings that will make up the computer manufacturer’s new office complex in Morrisville.
Lenovo has said the entire complex reflects an $84 million commitment by the company.
Duke Realty said Tuesday that the campus would include three office buildings totaling more than 500,000 square feet.
Construction on the first two buildings will begin in early 2006 and occupied by early 2007, according to Duke Realty.
“We are extremely excited about working with Lenovo on their project,” said Denny Oklak, Duke’s president and chief executive officer, in a statement. “The 500,000 square foot office campus is one of the larger build-to-suit projects that Duke has ever developed.”
The site Lenovo picked is in Perimeter Park.
“Perimeter Park is an excellent location for corporate users and will be a great home for Lenovo for many years,” he added. “This transaction is another example of Duke’s ability to meet the needs of major corporations through our vertically integrated development model.”
The first two buildings will total 358,000 square feet. Duke Realty said the buildings will cost some $46 million.
Lenovo has agreed to a 10-year lease for the first two buildings.
The third building covering some 143,000 square feet is due to open in 2009 and will cost some $20 million.
Lenovo announced its commitment to the Morrisville campus last week.
The company’s international parent purchased IBM’s Personal Computing Division, which is based in RTP, earlier this year. The 1,800 workers involved are still housed in IBM space.
As part of the complex deal, Lenovo said it would had 400 new jobs.
Lenovo received a variety of state tax incentives in order to relocate to Morrisville.
Lenovo: www.lenovo.com
For Local tech Wire’s story about Lenovo’s decision to build in Morrisville, see: www.localtechwire.com/article.cfm?u=12603
