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Tight Triangle Getting New Spec Office Space

Duke-Weeks Realty Corp. and Travelers Insurance are joint-venturing on the planned development of 450,000 sf of spec office space in six buildings.

By Robert Anthony | Updated on July 28, 2000

RALEIGH—Duke-Weeks Realty Corp. and Travelers Insurance have selected Cary for a planned six-building, 450,000-sf office park. Construction cost of the joint venture at the 52-acre Gateway Centre is estimated at $45 million. Cary is a Raleigh suburb located in one of the largest and fastest-growing submarkets in North Carolina’s Raleigh-Durham-Greensboro Triangle.

The first project, One Gateway Centre, a 75,000-sf, $7.5-million structure on 5.85 acres, broke ground this week. Completion is targeted for May 2001. Travelers owns Gateway Centre.

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