RALEIGH – Partners who are turning the former News & Observer properties into a four-building mix of office space and other uses in Downtown Raleigh have signed on Foundry Commercial as the group’s commercial leasing agent.
Called the Nexus, the complex will replace the former headquarters of the News & Observer, which is owned by the McClatchy media chain.
“At this time, we are actively looking for an anchor tenant to help brand the building, making Nexus the perfect space for a business that would like to cement their reputation as a key player in the Raleigh business scene,” said John Kelly, Market Leader for Foundry Commercial’s Raleigh office, in a statement.
The news comes a week after plans were announced for a Downtown South entertainment and soccer complex as well as a major redevelopment/office tower at Crabtree Valley Mall. Construction and planning for several projects in Raleigh is underway, reports commercial real estate firm CBRE.
The partners for the project include:
- Acquisition Group, owner
- East West Partners, developer
- Gensler and Elkus Manfredi, architects
- Kimley Horn, engineer
“Nexus will be the preeminent, modern, mixed-use development in downtown Raleigh, encompassing an entire city block,” Kelly added. ‘The office tower’s exceptional location marks the epicenter of phenomenal growth in Raleigh.”
Foundry Commercial is seeking to lease some 300,000 square feet of office space.
The entire complex, which will cover a city block off South McDowell Street, will cover more than 1 million square feet and include business, residential, retail as well as hotel space.
Construction is expected to beging in 2020 with completion set for 2022.
Acquisition Group has been active in Raleigh for nearly 30 years and owns Two Hanover Square.
Foundry Commercial operates in multiple markets across the southeast and Texas.