Raleigh, NC – August 9, 2022 – CBRE|Raleigh is pleased to join East West Partners in announcing Morrisville-based TARGAN has leased the entire building at Midtown BioCenter located at the intersection of Six Forks Road and Wake Forest Road in Raleigh, NC. The research/R&D company will expand its operations into the 100,000 square foot former Kroger building that is currently under redevelopment for life sciences use. The project is set to deliver in the Spring of 2023.
“We are delighted to deliver TARGAN’s new global facility in the heart of Raleigh – a major win in Raleigh’s goal to attract life science companies and grow those currently in the market,” said Lee Perry, Senior Managing Partner of East West Partners.
TARGAN was founded in 2015 with the goal to create a healthier, more sustainable food supply for the commercial poultry industry by engineering animal friendly technologies. The company’s global headquarters is in Morrisville, NC. TARGAN made headlines earlier this year after it announced it secured $35M in Series C equity financing to expand its commercialization and operations.
“In a world where improved food production and sustainability are becoming increasingly more important, TARGAN is positioning itself to support producers in their efforts to feed the world. We are thrilled to be able to continue this mission in our new headquarters while supporting Raleigh’s goal to increase the life sciences market,” said Ramin Karimpour, Founder and CEO, TARGAN.
Upon completion, Midtown BioCenter will feature approximately 100,000 square feet of high-bay lab and biomanufacturing space, as well as office space. It will be the first life sciences offering of its kind in the Midtown Raleigh area. The project’s construction is being handled by ARCO Design/Build with Redline Design Group as the lead architect.
CBRE|Raleigh’s Brad Corsmeier and Lee Clyburn represented East West Partners in the transaction. TARGAN was represented by Kathryn Lawn and Deborah Boucher of Cushman & Wakefield.
About CBRE|Raleigh
CBRE|Raleigh is a CBRE office serving the Triangle region and is a joint venture between local principals and CBRE Group, Inc. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. In 2021, the Raleigh office completed $3.3 billion of sales and leasing transactions. Please visit our website at www.cbre.us/raleigh.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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