JLL inks 27,400-square-foot deal with Korber Medipak Systems
Development of the 300,000-square-foot office park in The Triangle is nearing completion.
Raleigh-Durham, N.C., (May 4, 2021) – JLL’s Raleigh Agency Leasing team has signed a 27,400-square-foot lease with Korber Medipak Systems (Korber) at Peak City Business Park, a 300,000-square-foot office, lab and flex space campus being developed by GreenHawk Corporation. Upon completion of the development, the 42-acre park will encompass 14 buildings. JLL’s John MacDonell and Taylor McCuiston are handling marketing and leasing efforts for the park. Brian Farmer and Karah Jennings with Lee & Associates Raleigh Durham represented Korber in the deal.
Peak City Business Park is in Apex, North Carolina, one of The Triangle’s most accessible and high-profile areas. Korber, a producer of pharma biotech and medical devices, will occupy nearly half of Building Seven’s 60,000 square feet by Q1 2022. Headquartered in Fargo, North Dakota, Korber has been a leading supplier of pharmaceutical products for the past 125 years and offers a variety of services from development and production to inspection and packaging. Korber’s existing operations will be consolidated and expanded at Peak City Business Park.
“As Apex continues to experience rapid population growth and a surge in investment, Peak City Business Park provides a competitive advantage to enhance Korber’s operations and capabilities,” says JLL’s MacDonell. “Between state-of-the-art office, flex and lab space and a variety of amenities, the park’s new construction is an attractive option for high-growth users looking to grow their presence in The Triangle. We’re seeing an uptick in activity across the market, and this deal speaks to the stability and continued growth of the region.”
Peak City Business Park is strategically located 20 minutes from Raleigh. The park offers seamless access to Route 1 and Highway 64 and is in close proximity to various hotel, dining and housing options. In addition, the park offers ample parking, outdoor collaboration areas and nearby walking trails.
“We’re developing Peak City Business Park to be an ideal solution for users across industries who will benefit from the park’s convenient location and unparalleled access to top talent,” says Vaibhav Dhawan, vice president of GreenHawk Corporation. “We look forward to welcoming a diverse group of tenants to the park.”
As Raleigh-Durham regains momentum, JLL predicts demand and activity will continue across the market, outpacing initial projections. According to JLL’s Q1 2021 Office Insight, the market will see nearly 1 million square feet of new supply delivered throughout the year, trickling into early 2022. Suburban areas such as Southwest Wake County, where Peak City Business Park is located, are experiencing a low vacancy rate of 8.8% and boasting a majority of new-to-market occupiers. This demand signals Raleigh-Durham’s continued attractiveness to businesses resuming or expanding their office presence after the pandemic.
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 jll.com.