Quick Hits: BB&T Building Renovation
Quick hits are posts about development news as I hear about them! If you have feedback on the format, please share in the comments below!
Neighborhood:
Purchase Price:
Estimated Cost:
Expected Completion Date:
Developer:
BB&T Building
Neighborhood:
Downtown (West/Morehead Hill)
Size:
Preexisting 5-story building (32,500 sq ft)
Purchase Price:
$1.3 million (2017)
Estimated Cost:
$1.5 million for renovations
Expected Completion Date:
Unknown - accelerated by signing of new tenant
Details:
The renovation, which was always planned is moving forward because Adzerk signed a lease to have their office space occupy 5,000 square feet on the top floor. Renovations will include lobby renovations, new break room, new fixtures and conference rooms, and some exterior updates.
Developer:
Hem + Spire
Downtown Durham needs more office space, so this is a great story. Adzerk is a local company that came up through American Underground. They are choosing to stay in the area and stay downtown as they grow. I love it when we add jobs to the economy by growing the businesses that started here. To do that, we need to have office space inventory for them to grow into.
While this is a great story, it shows the need for even more downtown office space as the current space is extremely full currently.
