FCP® and Indianapolis-based Strategic Capital Partners, LLC (SCP) have signed Renesas Electronics America, Inc. (Renesas) to a 90,000 square foot lease at Class A office building Forty540 II in Morrisville, NC in the Raleigh MSA. Renesas, headquartered in San Jose, California, is a wholly owned subsidiary of Renesas Electronics Corporation, the world’s number one supplier of microcontrollers and a premier supplier of advanced semiconductor solutions including microcontrollers, SoC solutions, and a broad range of analog and power devices.
“FCP and SCP are thrilled to welcome Renesas to Forty540 II, which is now 95% leased and continuing to attract strong interest from tenants seeking a highly visible and easily accessible location in the RTP/I-40 innovation submarket. We would like to thank JLL for their work representing the tenant on this transaction.” said FCP’s Kevin North.
“Our development team designed Forty540 for companies like Renesas,” said SCP CEO, Richard Horn. “We thank them for choosing to relocate and grow their Raleigh presence in our project.”
“With the recent lease by Renesas at Forty540 II, the Company is expanding its footprint in RTP,” said Ross Luebbe, Director, Real Estate & Facilities at Renesas Electronics America, Inc.
Forty540 II is a five-story, 198,500 square foot office building located at 710 Slater Road in Morrisville, NC along the highly visible I-40/I-540 intersection in the RTP/I-40 submarket. Developed by FCP and SCP, the building features 41,000 square foot efficient floorplates, prominent building signage opportunities, a fitness center, showers, and an internet café. Synopsys will also occupy part of the third floor of the 198,500 square foot building.
Forty 540 achieved the Fitwel® certification making it one of the first suburban Class A buildings in the Triangle region to achieve the designation. The rating is awarded to projects that incorporate a number of evidence-based design and operations strategies that support the physical, mental, and social health of their occupants.
CBRE|Raleigh’s Brad Corsmeier and Ed Pulliam represented FCP and SCP and JLL represented the tenant.
FCP® is a privately held real estate investment company that has invested in or financed more than $9.3 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.
About Strategic Capital Partners
Strategic Capital Partners, LLC (SCP), headquartered in Indianapolis, Indiana, is a commercial real estate firm that develops, owns, operates and invests in properties strategically located in the top tier submarkets of Charlotte, Cincinnati, Indianapolis, Nashville, Northern Virginia and Raleigh/Durham. SCP is the general partner in more than 10 million square feet of properties valued at $1.2 billion. While property types vary, SCP’s primary focus is industrial development. The SCP team is rich with industry experience in private equity, development, acquisitions, banking, property management and brokerage. For more information, please visit www.strategiccapitalpartners.com.