RESEARCH TRIANGLE PARK, NC—The Research Triangle Foundation (RTF), steward of Research Triangle Park (RTP) and developer of the 44-acre Hub RTP mixed-use project, today announced it has selected White Point as its retail partner for the first phase of the development. White Point envisions approximately 25,000 square feet of experiential retail surrounding a large, outdoor plaza fronting the signature recreational greenway connection through RTP. At least 25,000 square feet of creative office will be developed in conjunction with and sit above the retail. The 50,000-square-foot mixed-use project is estimated to cost $20 million, and completion is expected in Q2 of 2022. Co-developed by White Point and KDC Real Estate Development & Investments (KDC), this project will commence the vertical development at Hub RTP.
“White Point is thrilled to partner with both KDC and RTF. By providing a truly unique experience here at Hub RTP for future guests and employees, we hope to create a new focal point for Research Triangle Park,” says Jay Levell, co-founder of White Point. “We intend to leverage our past developments to create an interesting space paired with successful food and beverage for the benefit of RTP.”
“White Point will make an excellent addition to the Hub RTP development team,” says Larry Wilson, division president for KDC. “Their experience in the Carolinas, including the Bowers and Optimist Hall adaptive re-use projects, is ample evidence of their expertise in developing experiential retail environments which appeal to both businesses and customers.”
Working closely with RTF and Duda Paine Architects, White Point and KDC envision a high-quality building with architecture that integrates Hub RTP’s natural and distinctive landscape with the future office, residential and hospitality developments. Upon completion, these future developments will include up to 1 million square feet of class-A office space developed by KDC, 800 residential units developed by MAA and potential for two hotels. JLL is representing the office portion of the development. Located between Highway 54, Davis Drive, and overlooking I-40 directly off the Davis Drive exit, Hub RTP will provide an unparalleled location for those seeking the ideal work/life balance in the Triangle and ideal signage opportunities for tenants.
Visitors to Hub RTP will enjoy 13 acres of greenspace and community areas, with pedestrian/biking trails on site that connect to the existing RTP trail system. The central plaza at Hub RTP will feature outdoor seating, a splash fountain and gathering spaces that engage with the adjacent natural stream and greenspace, as well as potential rooftop terraces. Durham County is investing with RTF in this public open space to provide additional recreational options.
“As the retail market transitions to new models, White Point’s strategy looks ahead to ‘what’s next’ in the sector,” says Scott Levitan, president and CEO of RTF. “The enthusiasm and investment committed by White Point and KDC to HUB enhance the amenities that will support RTP companies, their visitors, employees and local residents.”
To learn more, visit hub.rtp.org.
About White Point
White Point is a private real estate investment firm that utilizes local market knowledge, an extensive network and entrepreneurial approach to pinpoint unique investment opportunities. The Charlotte, NC-based firm specializes in the acquisition and development of office, retail, mixed-use and multifamily properties across the Southeast. Since 2014, the team has developed or acquired over $700 million of real estate assets. For more information on White Point, visit whitepointpartners.com.
KDC is a leading corporate build-to-suit development and investment firm for companies across the country. Within the last 30 years, KDC has produced approximately 36 million square feet valued at over $9 billion. KDC addresses the future of Corporate America by developing walkable, mixed-use urban environments anchored by notable clients, and specializes in data center and broadcast studio build-to-suits. KDC’s portfolio includes developments for FedEx, J.P Morgan Chase, Liberty Mutual, Raytheon, State Farm (Dallas and Atlanta offices), and Toyota North America. KDC is headquartered in Dallas and is supported by a national team with offices in Atlanta and Charlotte, North Carolina For more information, please visit kdc.com.
About the Research Triangle Foundation
Since 1959, the Research Triangle Foundation of North Carolina has served Research Triangle Park in its mission to facilitate collaboration among our region’s industries, universities and workforce, and create economic impact for the citizens of North Carolina by attracting the world’s most innovative companies and top-tier talent to North Carolina. Situated centrally among Duke University, North Carolina State University and the University of North Carolina at Chapel Hill, RTP contains 7,000 acres, 55,000 employees, and over 300 companies and national labs, including Biogen, EPA, GlaxoSmithKline, Cisco Systems, Credit Suisse, NIEHS, Fidelity Investments, IBM, BASF, and RTI International. To learn more, visit rtp.org.
Laura Graff for White Point
Sydney Townsend for KDC
Morgan Cartier Weston