Well, they may be building a tower it fulfills a requirement tied to their incentives? If so, it’s a pretty cool way for the city to get private business to fill out its downtown.
Here is a short but good read:
Let me know if the link doesn’t work correctly…
Sweet! Looks like they’re already in talks with one of the developers to lease space in one of the stalled projects.
It’s beginning to look as if 2019 will be the year of the stalled towers being brought back to life . . . 301H, 400H, and Edison all seem to have promising futures.
There might even be enough demand for another residential tower in downtown in the near future.
Pleased to hear about this expansion, if we’re going to be giving incentives and handouts then this is how it should happen, to local businesses and not to the richest man in the world.
I would be happy to see more Devon/Skyhouse/Peace, non-stick big box apartments. Like say the Clearscapes project…
Just a quick reminder from the CEO of Pendo:
“We expect to make a decision in the first quarter of next year (2019) and to move by 2022.”
From announcement to opening, any bets on when this project starts if completion must be by 2022?
I would say, if looking at a 20 story tower, we are looking at ground breaking in 2020 to make sure upfits and move in is completed by 2022. So land will be purchased in 2019.
Let’s hope it’s 20 floors plus 6 floors of parking but it will blend in with the PNC tower and the Skyhouse so DTR’s GAP TOOTH skyline won’t be changed much in the near future with this project.
So maybe all of 2019 in order to obtain all the necessary city permits as well as architectural requirements of a new building? I say new, as my hope is that either the 400H, the Edison, or even the 300 buildings would have to be redone to meet the required office space demand?
Could the empty lot next to Ceank Arm be the potential landing spot for Pendo? https://www.newsobserver.com/news/business/article149274024.html
One prospective tenant for this site is a company headquartered in downtown Raleigh seeking to expand their campus,” Empire wrote in the request.
This article is from 2017…
True, it may have been for a different client but it could still work for Pendo who is definitely on the look. This area may be the coolest spot for a tech company to expand in Downtown. But look at the high rents that the Dillon is getting. So expensive! Trendy doesn’t come cheap!
Yes I am aware. I don’t think that precludes this from being a potential landing spot for Pendo. It’s unlikely but it’s possible.
Color me confused and disappointed if Pendo was to choose a 12 story building over so many other possibilities?
Idk they’re not that big I don’t know how much room they need for their operations and how much building they want to lease out.
I’ll repost this from my earlier comments found on this Pendo blog
And based on there future needs I would be surprised if 12 stories is enough?
Depending on their specialty space requirements, amenities provided, and design/occupancy model, 590 people could demand between 60,000 & 120,000 square feet of office space. At the very top end, maybe 180,000, but that’s really pushing it for a company these days. That number does not demand a tower of any particular significance. It seems that the presumption here in the community is that Pendo is going to need a signature tower; that’s just not the case. For comparison, the Wells Fargo Capitol tower downtown is 544,000 ft2.
My company will be combining two offices in the Triangle together and we have between 500 and 600 people here. However, they are pushing “open concept” really hard in other cities, where nobody has an office or even a cube, the whole floor plan is open with various “team” rooms and workstations around. Currently, our Raleigh office has 3/4 of the floor in one building, and in Morrisville we have 2 full floors and about 1/3 of another floor. I guarantee they will cram us in the smallest amount of space they can to save money on rent.
Not sure what other companies are doing as floor plans go, but when I saw the 590 number for Pendo, compared to us, I thought… there is no way we could fill a whole building ourselves. Not even half of a building. I still have my fingers crossed that we will land in DTR in 2021 when our leases are up. But Thanks John for the reality check.