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| Bank of America Tower, Raleigh, NC |
Raleigh, NC, Sept. 26,
2024 – KBS, one of the largest owners and operators
of premier commercial real estate buildings in the nation, and Kane Realty Corporation of Raleigh, N.C.,
announce they have leased 31,659 square feet of space to two tenants, including
a new large-footprint tenant and a renewal and expansion of a longtime North
Hills tenant, at Bank of America Tower, a Class A mixed-use
property totaling 300,322 rentable square feet in Raleigh, North Carolina.
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Eva Garland
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Brightly Software, a Siemens company and
global leader in intelligent asset management solutions, has signed a lease for
28,658 square feet of space on a full floor in the building. The new office
will also serve as the global headquarters for Siemens Industry, Inc.
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Stephanie Dorsey
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The other lease is an
expansion of Eva Garland Consulting (EGC),
a leader in securing and managing non-dilutive funding for startups. EGC, a
long-standing existing tenant in Bank of America Tower, added more than 3,000
square feet to expand their current space to nearly 15,000 square feet.
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Marc DeLuca
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“The transactions
highlight the strength of the economy in the Raleigh market. Growing companies
are gravitating toward high-quality office space with active retail, restaurant,
and entertainment to support their efforts to attract and retain the best
employees,” according to Marc DeLuca, CEO and regional president,
Eastern U.S., for KBS.
“Well-located, top-tier
commercial office properties provide growing companies with a strategic
advantage when it comes to meeting the workplace needs of both new and current
employees,” says DeLuca.
“KBS has been a leader in
owning and managing world-class office assets for the past three decades. We
have a history of capitalizing on important office trends such as excellent
health and wellness and technology amenities to assist tenants in generating
maximum value from the office space they lease.”
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Allen Aldridge
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Allen Aldridge, asset manager of Bank of America Tower, senior vice
president and co-director asset management for KBS, notes that Bank of America
Tower’s location in the prestigious North Hills district of Raleigh and its mix
of onsite retail and fine dining is a great example of an office property that
is well-suited to attract top talent.
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Don Kurelich
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“Bank of America Tower
really delivers on its promise as a top-quality office asset at all levels,”
says Aldridge. “Tenants have access to terrific retail and dining, like The
Capital Grille, and amenities including a tenant lounge, and designated EV parking
spaces.”According to CBRE for Q2 2024, the local Raleigh metro
area leasing is currently dominated by tenants renewing existing leases or
seeking higher-quality office space with a smaller footprint.
Additionally, JLL reports leasing by large tenants
requiring more than 10,000 square feet has grown steadily during the year,
increasing 23% year-over-year.
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Hooker Manning
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As the market moves into
the second half of 2024 and beyond, JLL sees a shift of focus in the market to
existing high-quality assets as the number of new properties slated for
construction after this year drops to zero.
“The move to Bank of
America Tower allows us to bring Siemens Brightly Software and Siemens Smart
Buildings under the same roof. By creating one space for both companies, we are
improving our sustainability and decarbonization goals as part of Siemens 2030
Sustainability Goals,” says Stephanie Dorsey, CEO Siemens Real Estate
Americas.
“Our new location in
North Hills will serve as a meaningful asset to us for talent recruitment and
retention and company culture, giving employees access to a beautiful mixed-use
area with a variety of restaurants, fitness options, parking, electric vehicle
charging, and other walkable amenities,” adds Don Kurelich, CEO of
Brightly Software, a Siemens company. “We are moving to a more modern, central
location that fosters collaboration and engagement.”
Bank of America Tower is
an 18- story, mixed-use, Class A, LEED Gold certified building with six floors
of covered parking, high-speed internet, and a state-of-the-art conference
center. Bank of America Tower is ideally located near upscale residences,
innovative workplaces, entertainment, hotels, retail and dining destinations.
“As one of the first
tenants to be welcomed into Bank of America Tower we’re proud to have grown
along with the North Hills community. As our company continues to expand, we
know that the building offers our employees the highest-quality workspace with
access to the best restaurants and shopping in the area,” says Eva Garland
of Eva Garland Consulting. “The combination of location and top-tier service,
made the decision to renew and expand our lease a natural one.”
“From convenient hotels
to restaurants and retail, the office assets in North Hills such as Bank of
America Tower have immediate and nearby access to every kind of amenity an
employee or corporate tenant might require, all conveniently located right off
Raleigh’s Interstate 440,” comments Hooker Manning, director of office
leasing at Kane Realty. “This unmatched tenant experience attracts
meaningful companies to relocate here and successful companies to continue to
grow and expand.”
Bank of America Tower is
located at 4242 Six Forks Road, Raleigh, North Carolina.
About KBS
KBS is
one of the largest investors of premier commercial real estate in the nation.
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Peter Bren
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As a private equity real
estate company and an SEC-registered investment adviser, KBS and its affiliated
companies have completed transactional activity of more than $45.2 billion on
behalf of private and institutional investors globally.
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Chuck Schreiber
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Founded in 1992 by Peter
Bren and Chuck Schreiber, KBS acquires and operates premier commercial real
estate in some of the most successful epicenters in the country. The firm is
committed in its business ethics, its business relationships, and its constant
focus on exceeding the expectations of its investors, partners, and tenants.
SEC registration as an investment advisor does not imply any particular level
of skill or training.
Contacts:
Ginny Walker
KBS Senior Public
Relations Director
949-417-6535
gwalker@kbs.com
Lexi Astfalk or Sophia
Reznicek
The Smart Agency
949-438-6262
KBS@thesmartagency.com
Kane Realty
Hannah Smith
hsmith@kanerealtycorp.com
kanerealtycorp.com.
www.kbs.com.
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