Class-A, mixed-use development lands Fidelity Investments, Fiction Coffee and a 13,000-square-foot office tenant
East West Partners today announces that two retail tenants and one office tenant have signed leases at Crabtree Terrace, the 173,468-square-foot mixed-use development in Raleigh’s Crabtree Valley district. JLL Managing Director Hillman Duncan and Vice President John MacDonnell handle office leasing on behalf of the owner. Retail leasing efforts are being led by CBRE.
Located at 4509 Creedmoor Road, Crabtree Terrace encompasses 145,000 square feet of Class-A office space and over 28,000 square feet of luxury retail. JLL’s agency leasing team has signed a new 13,000-square-foot office lease at the property. Existing office tenants in the building include coworking company Spaces and Longleaf Law Partners, a boutique commercial real estate law firm.
“Crabtree Terrace is a new, well-located mixed-use development that provides tenants with great retail and modern amenities just steps away,” says JLL’s Duncan. “Centrally located in the Triangle with convenient access to Downtown Raleigh, Crabtree Terrace gives companies the space and accessibility they need to grow their business and establish an office presence within one of the country’s most innovative, rapidly growing markets.”
CBRE has added two retailers to the building’s ground floor, both of which will open in Q4 2021. Financial services company Fidelity Investments has signed a 7,400-square-foot lease and Fiction Coffee, a Texas-based cafe serving artisanal coffees and pastries, has signed a 1,400-square-foot lease. Additional onsite retail includes Perry’s Steakhouse and Grille, a fine dining restaurant.
Crabtree Terrace opened in January 2020 and provides tenants with access to a state-of-the-art fitness facility and locker rooms, as well as connectivity with Raleigh’s greenway trails. In addition to the ground-floor retail, Crabtree Terrace is walkable to more than 200 restaurants and retailers at Crabtree Valley Mall, and is just 10 miles from the Raleigh-Durham International Airport.
“We recognized an incredible opportunity to deliver a Class-A office project that prioritizes the convenience and flexibility of the modern workforce,” says Lee Perry, managing director for East West Partners. “The addition of Fidelity Investments and Fiction Coffee to our retail lineup is an important value-add for our tenants, and with the help of JLL and CBRE, we look forward to continuing to attract top office and retail users to Crabtree Terrace.”
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, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
