Currently, the class A 2250 Perimeter is under construction with a target completion date set for mid-2008, a spokesman for Duke tells GlobeSt.com. ZC Sterling will relocate to the space at the end of 2008 from its address at 1500 Perimeter Park and become the building's lead tenant.
"The primary reason for the move is to satisfy business growth needs as we have out-grown our current space. The new facility will allow us to accommodate about 120 new jobs by 2009," Tracy Silver, vice president of administration at ZC Sterling, explains in a statement.
The deal brings preleasing at 2250 Perimeter, which is rising within Duke's Perimeter Park, to 38%, Duke's spokesman adds. The spokesman did not release the lease terms, including rental rate per sf and the length of the deal; however, Colliers Pinkard puts first quarter office rents for class A properties in the Triangle at $20.64 per sf.
"Perimeter Park is a great fit for a rapidly growing company like ZC Sterling because of its flexibility to accommodate for their growth," says Jeff Sheehan, senior vice president in Duke's Raleigh office.
Guy Harvey of the Staubach Co. represented ZC Sterling Corp., while Hooker Manning, Duke vice president of leasing, represented ownership.
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