The estimated hard construction cost of the six-acre center is $6.5 million. The developer's remaining developable land at the park will be 30 acres after the current project is completed in September. Estimated distribution rents are $3 to $6 per sf; office, about $15 per sf.
The company's portfolio of distribution space in Greater Raleigh is 100% occupied; office showroom, 97%, according to Duke-Weeks senior vice president Andrew Kelton. In addition to distribution space, the new building will offer about 30% office space, 24-foot-high ceilings, 24 dock doors and parking for 168 cars.
Perimeter Park Business Center is a half mile south of Interstate-40; accessible from Interstates 85 and 95; and minutes from the Research Triangle Business Park and Raleigh-Durham International Airport.
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