The TDA refused to disclose the rent range for the 20,500 sf portion of the building. The structure is owned by a California company which the authority did not identify. The TDA currently operates a 9,000-sf incubator facility at North Carolina State University.
The TDA plans to prelease all of the first phase and has already signed almost 20 tenants to units ranging in size from 500 sf to 2,000 sf.
In addition to the TDA's plans, Durham-based A.M. Pappas & Associates is planning to convert a 40,000-sf building in the park to an incubator facility that will offer lab/office units of about 1,500 sf each, the first of which are expected to be available by early summer, according to the company's news release.
More incubator space is expected to become available in a three-story, 253,400-sf building that is presently occupied by the U.S. Environmental Protection Agency. The owner of the building, Baltimore-based Dechiaro Properties, is ready to start renovations, but the EPA will be in the building for at least another year, according to a prepared statement from the Research Triangle Foundation.
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