News release

Capital secured for innovative headquarters campus in Raleigh

JLL Capital Markets led financing efforts for Bandwidth, Inc.’s headquarters, a build-to-suit campus focused on employee health and well-being in Raleigh, North Carolina

July 27, 2021

RALEIGH, July 27, 2021 – JLL Capital Markets announced today that it has arranged joint venture equity and construction financing for the development of a 533,889-square-foot office campus that will serve as the headquarters location for Bandwidth, Inc. in Raleigh, North Carolina.

JLL worked on behalf of a joint venture between East West Partners and Capitol Broadcasting Company to secure equity from USAA Real Estate and a construction loan with Wells Fargo Bank for the build-to-suit project.

Bandwidth, a fast-growing Raleigh-based software and technology company, will consolidate its current three locations in Raleigh into a centrally located, highly amenitized, state-of-the-art campus focused on employee mental well-being, physical health and fitness, family interaction and community involvement. The campus will feature 460,073 square feet of Class A office space, a 29,091-square-foot fitness center, a 13,425-square-foot recreational area, a 31,300-square-foot Montessori School, an on-site amphitheater, walking trails, café and recreation fields. An on-site parking garage will provide approximately 1,859 parking spaces.

The office building, which is anticipated to be completed in first quarter 2023, will be positioned on 23.34 acres, and Bandwidth owns 17 adjacent acres, allowing for future expansion needs. 

Located at the corner of Reedy Creek Road and Edwards Mill Road, the campus is central to the Triangle’s largest employment and entertainment centers; is easily accessible from main transportation arteries; and is adjacent to the world class natural amenities of Schenk Memorial Forest, William B. Umstead State Park and the NC Museum of Art, which, together, provide more than 6,000 acres of outdoor biking and hiking trails, rivers and lakes.

The JLL Capital Markets team representing the venture was led by Roger Edwards, Travis Anderson, Michael George, Coler Yoakam and Warren Johnson.

“It was very exciting to be a part of the team with East West Partners and Capitol Broadcasting Company to help make this project a reality for Bandwidth,” Edwards said. “Both USAA Real Estate and Wells Fargo were excellent to work with on the capitalization of this transformative project.” 

Raleigh continues to be one of the nation’s leading growth markets attracting both residents and new companies to the area. The MSA’s population grew 3.5 times the national average from 2010 to 2020 and a recent U.N. study ranked Raleigh as the No. 2 fastest growing population among large U.S. cities from 2010 to 2030.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About East West Partners

Headquartered in Chapel Hill, East West Partners has focused its development business on the rapidly growing and economically thriving Research Triangle region, with numerous projects in other major markets of North Carolina.

About Capitol Broadcasting Company

Capitol Broadcasting Company (CBC) is a fourth-generation family-owned enterprise known nationally as an innovator and disruptor. A leader in technology, transformative real estate, local sports and startups, all with a commitment to building community. CBC is an owner-operator of award-winning television, radio and digital properties in central and eastern North Carolina, the nationally acclaimed Durham Bulls Baseball Club and is the developer and owner of the American Tobacco Historic District in Durham, North Carolina.

About USAA Real Estate

With approximately $27 billion of assets under management and 11 global offices, USAA Real Estate is an industry leader in acquiring, developing, financing and managing the highest quality real estate assets in North America and Europe. The mission of USAA Real Estate is to serve the financial interests of its investor clients by strengthening the profitability and diversity of their investment portfolios, which include multifamily, industrial, office and hotel properties as well as e-commerce logistics and distribution centers, media production facilities and data centers. Aligned with a series of strategic partnerships cultivated over decades of co-investment, USAA Real Estate engages with preeminent sector leaders demonstrating proven domain expertise in a shared drive to achieve superior, risk-adjusted returns. For more information, visit