Tuesday, September 10, 2013

Jones Lang LaSalle Negotiates 12,574 Square-Foot Office Lease in Downtown Durham

RALEIGH, Sept. 10, 2013 — Jones Lang LaSalle’s Raleigh-based Tenant Representation group announced that it has completed a 12,574 square-foot office lease at American Tobacco Campus in Downtown Durham on behalf of 8 Rivers Capital, LLC, a technology development and commercialization firm.

8 Rivers is deepening its footprint in Durham’s Central Business District.  The firm signed a new 12,574 square-foot office lease at 406 Blackwell Street, Durham, expanding and relocating from the space it previously occupied in West Village, to a new space on the fourth floor of the Crowe Building in American Tobacco Campus.  JLL Senior Vice President Jeff Miller and Vice President Ryan Lawrence represented the tenant throughout the transaction.  Mac Hammer and Doug Cook of Synergy Commercial Advisors represented the landlord.

“After exploring the Downtown Durham area, American Tobacco was the right fit for 8 Rivers as they continue to grow through developing, funding and commercializing new technologies,” Lawrence said.  “The creative environment the campus offers should prove to help with their overall mission.”

“We’re thrilled to be a part of the growing business and entrepreneurial community in American Tobacco Campus and Downtown Durham,” said 8 Rivers co-founder Bill Brown.  “This diverse and energetic environment is essential to recruiting and retaining the talent we need to help address some of the most challenging problems our world faces.”

Michael Goodmon, Vice President of Real Estate for Capitol Broadcasting Company, which owns American Tobacco, added, “8 Rivers adds tremendously to the surging entrepreneurial ecosystem in Durham as demonstrated, for example, by the growth of mature companies here as well as our American Underground startup hub.  As American Tobacco approaches its tenth anniversary in 2014, we are thrilled to have 8 Rivers, with its expertise and keen sense of community, on board for our continuing journey.”

About 8 Rivers Capital LLC
8 Rivers Capital LLC is a Durham, N.C.-based technology commercialization firm dedicated to identifying critical problems facing the world and developing innovative solutions that are both cheaper and better than existing approaches. For more information, please visit 8 Rivers Capital’s website at www.8riverscapital.com.

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management. For further information, visit http://www.jll.com/.

About American Tobacco Campus
The award-winning American Tobacco Campus offers one million square feet of premium office space in a historic factory setting bustling with restaurants, entertainment, mature businesses and the American Underground
startup hub. The campus serves as a bridge from Durham’s past as one of the world’s tobacco centers to its present and future as a knowledge, science and medical capital.

American Tobacco is owned by Capitol Broadcasting Company, Inc. a diversified communications company which owns and/or operates WRAL-TV, WRAL Digital, WRAZ-TV, WRAZ Digital, WRAL-FM, WRAL-HD2, WCMC-FM, WCMC-HD1, WDNC-AM, WCMC-HD2, WCMC-HD3, WCLY-AM, WCMC-HD4, Microspace, CBC New Media Group and Wolfpack Sports Properties (a joint venture with Learfield Sports) in Raleigh, NC; WILM-TV and Sunrise Broadcasting in Wilmington, NC; The Durham Bulls Baseball Club in Durham, NC; and real estate i

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