Federal Capital Partners® (FCP) and CBRE|Raleigh announce that Venable Center in Durham, NC has reached 100 percent occupancy with the recent expansion and extension of 59,000 square feet to genome editing pioneer, Precision BioSciences.
“Precision BioSciences is on the cutting edge of an exciting, transformative new field called genome editing which enables them to edit the genomes of living organisms in an effort to overcome disease and otherwise improve life,” said Bryan Kane, Senior Vice President of Acquisitions for FCP. “We are thrilled about the continuation of their work at Venable Center and pleased to have had the opportunity to assist in fostering their growth.”
Precision BioSciences currently occupies approximately 20,000 square feet on the Venable Center campus and expanded for an additional 39,000 square feet. The company utilizes a groundbreaking genome editing technology, developed in Durham, that may allow it to overcome cancers, cure genetic disease and enable the development of safer, more productive food sources.
Venable Center is a historic and revitalized campus in the center of Downtown Durham, situated at the intersection of South Roxboro Street and Pettigrew Street. With a combination of office and lab space, the 86,000 square foot campus is home to major tenants such as the United States Bankruptcy Court of the Middle District of North Carolina and Gilbane Building Company in addition to Precision BioSciences.
FCP was represented by Brad Corsmeier and John Brewer of CBRE|Raleigh in the transaction, while Precision BioSciences was represented by Deb Boucher and Kathryn Lawn of Cushman & Wakefield.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $5.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States. For further information on FCP, please visit www.fcpdc.com
CBRE|Raleigh is a CBRE office serving the Triangle region and is a joint venture between local principals and CBRE Group, Inc. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. In 2015, the Raleigh office completed $1.3 billion of sales and leasing transactions.
About CBRE in the Mid-South Region
CBRE is the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville, and Fredericksburg, VA, and Raleigh and Greensboro, NC. These offices are collectively referred to as the Mid-South region. The CBRE Mid-South offices (excluding Northern Virginia and Charlotte, NC offices) completed $2.8 billion of sales and leasing transactions in 2015.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com