That is interesting about the Eye Institute, Matthew. I guess it is good news for the city that Wake is leasing and not buying, in-terms of tax revenue. I was reading an article in the Triangle Business Journal yesterday about skyrocketing sublease space in Raleigh (one of the hottest markets in the country in-terms of jobs/housing/etc.).
They mentioned the Citrix building in Raleigh, which may be similar to the Inmar building (although it was a new construction in 2014, not a repurposed building and is around 2/3 the size).
Image of building:
https://th.bing.com/th/id/OIP.uuYvjlPtoTPZFiLlxHlumgHaFW?pid=ImgDet&rs=1
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"The huge Citrix building in Downtown Raleigh was built in 2014 and features a yoga studio, restaurant and fitness center. Now, the 153,000-square-foot building is empty.
“We’ve seen very little activity on large subleases. Anything over 50,000 square feet would need to attract a very large regional office or a corporate headquarters and those spaces have ended up sitting on the market for quite some time,” said Tucker Shade, executive vice president of Savills.
“Citrix is an amazing space; it is that flight to quality but it’s too big. There are a number of spaces that are over 50,000 square feet that, odds are, they will not get subleased.”
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We are very fortunate to have Wake Forest taking the majority of the Inmar building. If Raleigh cannot find a tenant for the Citrix building, the Inmar building would have sat vacant for a long time.
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