Offering Memorandum - Research Triangle Park
Offering Memorandum 1 Triangle Drive Research Triangle Park, NC
Confidential Offering Memorandum presented by
Robin Roseberry Anders, SIOR NAI Carolantic Realty, Inc.
Adderson Scott NAI Carolantic Realty, Inc.
tel +1 919 714 7133 cell +1 919 369 3713 [email protected]
tel +1 919 714 7141 cell +1 919 524 8741 [email protected]
1
Disclaimer
NAI Carolantic Realty, Inc., (“Broker”) has been retained by the Seller in Research Triangle Park, NC (“Property”) as the exclusive broker for this Investment opportunity. This Offering Memorandum has been prepared by Broker for use by the principal (“Principal”) to whom Broker has provided this Offering Memorandum. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the Confidentiality Agreement furnished by Broker and executed by Principal prior to delivery of thisOffering Memorandum. Although the information contained herein is based upon sources believed to be reasonably reliable, Owner and Broker, on their own behalf, and on behalf of their respective officers, employees, shareholders, partners, directors, members and affiliates, disclaim any responsibility or liability for inaccuracies, representations and warranties (expressed or implied) contained in, or omitted from, the Offering Memorandum or any other written or oral communication or information transmitted or made available to the recipient
of this Offering Memorandum. In amplification of and without limiting the foregoing, summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents but rather only outlines of some of the principal provisions contained therein, and no representations or warranties are made as to the completeness and/or accuracy of the projections contained herein. Prospective purchasers of the Property should make their own investigations and conclusions without reliance upon this Offering Memorandum, the information contained herein or any other written or oral communication or information transmitted or made available. Additional information and an opportunity to inspect the Property will be made available upon written request by interested and qualified prospective purchasers. Owner expressly reserves the right, exercisable in Owner’s sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Owner and Broker each expressly reserves the right, exercisable in
their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. Broker is not authorized to make any representations or agreements on behalf of Owner. Owner shall not have any legal commitment or obligation to any entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed, delivered and approved by Owner and the other party thereto and any conditions to Owner’s obligations hereunder have been satisfied or waived. If you have no interest in the Property at this time, return this Offering Memorandum immediately to: NAI Carolantic Realty, Inc. 5121 Kingdom Way, Suite 200 Raleigh, NC 27612 tel fax
+1 919 832 0594 +1 919 832 7385
naicarolantic.com
Offering Memorandum
Offering
One Triangle Drive Property Address
1 Triangle Drive, Research Triangle Park, NC, 27709
Location:
Located at the corner of NC Hwy. 54 & Triangle Dr.
PIN#:
0738-03-42-5054
Price
$4,150,295 ($85/SF)
Terms
All Cash
Rentable Square Feet
48,827 SF
Percent Leased
75.6% leased until 7/31/17
Summary
70
15 501
50
70
85
85 85
Fa Falls La Lake
751
KE DUKE UN VER TY UNIVERSITY 15 501
98
147
98
DURHAM
40
70
Price/SF
$85/SF
Year Built
1978
Lot Size
12.87 Acres
Zoning
SRP (Science Research Park)
Target Buyer
Owner-Occupant or Investor
751
15 501
55 50
U C UNC 540
Briercreek S/C
27 74 274 54
279 2 27
CHAPEL HILL
540
RDU International Airport
RES RESEARCH SEA SEA ARCH A AR R H RC TR TRIANGLE RIA AN A NGLE E PARK PA ARK AR RK
70
54
MORRISVILLE
751
Lake Crabtree
40
William B. Umstead State Park PNC Arena
540 55
Jo daan Jorda an Jordan Lak ake ak kkee Lake
© 2016 NAI Carolantic. All rights reserved.
CARY
40
RALEIGH Crabtree Valley Mall
440
70
Offering Memorandum
One Triangle Drive
Property
Description
NAI Carolantic Realty is pleased to present the opportunity to acquire 1 Triangle Drive, a 48,827 square foot single story flex/office building located in the heart of North Carolina’s world renowned Research Triangle Park (“RTP”). More than 200 companies call RTP home with over 50,000 experts in fields such as micro-electronics, telecommunications, biotechnology, chemicals, pharmaceuticals, and environmental sciences. Within and surrounding one of the largest research parks in the world, industries invest more than $296 million in R&D at the region’s universities each year – double the average R&D investment for innovation clusters elsewhere in the nation. 1 Triangle Drive is located within the geographic center of RTP. The building is 76% leased through July 2017 providing income during any pre-redevelopment planning. A well maintained office building built in 1978 and extensively remodeled in 2008, 1 Triangle Drive is sited on 12.87 acres with abundant parking in a heavily wooded setting. The site is large enough to allow room for future development, such expansion to include an additional two story 45,000 SF office or lab building, while still maintaining a 4:1000 surface parking ratio. Additional features include monument signage, direct access to the RTP trail system, visibility from Highway 54 and an ideal location within one mile of restaurants and shopping. The Streets at Southpoint, a major regional mall, is within a 5-minute drive, and Raleigh-Durham International Airport is only 10 minutes away. Within a 15 minute walk is RTP’s Park Center, and specifically The Frontier, a centrally located collaborative hub for entrepreneurs (http://www.rtp.org/about-us/the-frontier). Park Center itself is soon to undergo a major redevelopment with the Research Triangle Foundation having secured $50 million and all necessary zoning to initiate a mixed use plan on its 100 acres, inclusive of retail, residential, office, hotel and lab.
Offering Memorandum Summary Address Offering Price Terms Year Built Total Size Occupancy
1 Triangle Drive, RTP $4,150,295 ($85/SF) All Cash 1978 48,827 SF 75.6% through 7/1/2017
Offering Memorandum
Physical
One Triangle Drive
Description
Address
1 Triangle Drive, Research Triangle Park, NC 27713
Property Type
Flex / Office
Square Feet
48,827
Year Built
1978
Percent Leased
75.6% leased until 7/31/17
Exterior
Brick veneer, EIFS (Exterior Insulation and Finish System), and wood paneling
Parking
193 regular spaces, 7 handicap (4.44 per 1,000 RSF)
Ceiling
Heights 9’0” floor to drop ceiling grid. Ceiling grid to joist-34”. Ceiling grid to roof deck-4’11”
Fire Protection
Chemical fire-suppression system located in records-storage room of suite 100
Foundation
Reinforced 4” poured concrete slab
Electrical
(2) 800 AMP services that feed the building (one in each suite). 480 volt-3 phase / 277 one leg
HVAC
(1) 50-ton, (1) 40-ton, (1) 5-ton and (4) 3-ton rooftop units (31) heat boxes, (3) variatric controls. All HVAC equipment manufactured by Trane.
Lighting
Fluorescent fixtures
Roof
Flat metal roof system with TPO membrane (added in approximately 2008)
Windows
Double pane windows in anodized metal frames
Utilities
City of Durham
Zoning
SRP, Science Research Park by Durham County
Site Improvements
Site improvements include landscaping, separate monument signage for each suite, sidewalks, surface parking and exterior lights
Offering Memorandum
One Triangle Drive
Floor
Plan
SUITE 100 36,912 SF
SUITE 200 11,915 SF
Offering Memorandum
Property
Aerial
EXISTING 1-STORY ±49,000 SF
OPTIONAL 2-STORY OFFICE BUILDING 45,000 SF
54
TW ALEX
KWY ANDER P
TRIA
NG LE D R
One Triangle Drive
94,000 TOTAL SQUARE FEET 364 PARKING SPACES
Offering Memorandum
Area
One Triangle Drive
Aerial
55
751
RESEARCH TRIANGLE PARK STREETS AT SOUTHPOINT MALL
40
RENAISSANCE CENTER
54
1 TRIANGLE DRIVE TRIANGLE VILLAGE SHOPPING CTR
THE PARK CENTER
40
751 TO UA IRP OR T
RD
147 55
Offering Memorandum
Area
One Triangle Drive
Amenities
55
147
RESEARCH TRIANGLE PARK TRIANGLE VILLAGE SHOPPING CTR
LOWE’S GROVE MIDDLE SCHOOL
FEDEX SHIP CENTER
NG LE D R
54
TRIA
KESTREL HEIGHTS SCHOOL
S ALSTON AVE
DURHAM CO. PUBLIC LIBRARY
54
147 55
Offering Memorandum
One Triangle Drive
Property
Photographs
Offering Memorandum
One Triangle Drive
Property
Photographs
Offering Memorandum
One Triangle Drive
Property
Photographs
Offering Memorandum
One Triangle Drive
Park
Center
The Research Triangle Foundation has announced it has secured $50 million for the Park Center redevelopment through a series of publicprivate partnerships. Park Center is a 100-acre property located in the heart of North America’s largest science park that was purchased by RTF in 2014. Park Center will be the first major redevelopment in RTP’s history, and will bring together private industry, universities and all of North Carolina in an inspiring setting at the heart of the Triangle. For more information: http://www.rtp.org/about-us/park-center/
Macroeconomic
Drivers
Exponential Population Growth
Quality of Life
Considered the fastest growing region in the state, the Raleigh/Durham/ Research Triangle region has a population of over 2 million and has grown by more than 40% in the last 20 years. The region is expected to continue to grow at an even faster rate in the next decade. Within the Triangle region, Wake County is the largest and fastest growing area with a population of more than 925,000, adding approximately 65 people per day.
The low cost of living, quality health care, and ready access to abundant recreational activities make the Triangle region a desirable place to start or relocate a business. Centrally located between the majestic Blue Ridge Mountains to the west and the legendary Outer Banks and Atlantic coast to the east, the Triangle enjoys a favorable climate year-round. Tropical air in the summer and mild temperatures in the winter keep the mean annual temperature at a comfortable 60 degrees.
Diversified Employment Base At the heart of the region’s success lies a diverse and growing blend of people and cultures from every corner of the globe. The region’s quality growth and ability to mix native traditions and newcomer influences have shaped a population full of vitality, diversity, and prosperity. With a diversified and prosperous business climate and an environment attractive to tomorrow’s technology, the Triangle boasts one of the most highly educated and diverse workforces in the nation. With more than 46 percent of its 25-or-older population holding a bachelor’s degree or higher, it’s no wonder Forbes magazine ranked Raleigh as one of the best cities for new college grads.
Innovation As the home of three nationally renowned research universities, the Triangle has garnered a reputation for innovation and entrepreneurship. The Research Triangle region utilizes a triple helix business model in which leaders from the area’s businesses, government, and major research universities work together to transform business practices, acquire and develop the latest technology to enable new companies and industries to thrive.
Top Business Climate Anchored by one of the nation’s largest research parks and three nationally renowned research universities, the Research Triangle area consistently ranks among the nation’s best economies year after year. Industry giants in pharmaceuticals, computer software, telecommunications, cleantech, and biotechnology dot the landscape, helping to fuel thriving retail sales and entrepreneurial success.
Consistent Employment Growth The Triangle area has had consistently low unemployment rates accompanied by high rates of job growth. The area’s unemployment is consistently below the statewide unemployment rate as well as the national rate. The metro area’s economic success is most evident in the rising incomes of its residents. The region’s per capita income has long outstripped the state’s per capita income, and this strong economic performance is projected to continue to increase over the next 15 years.
Recent Triangle
Accolades
#1 Best Big City to Live in the Southeast (Raleigh, NC) Money Magazine | September 2016
#3 City Secretly Great for Tech Grads (Raleigh, NC) Datafox | January 2016
#1 U.S. City Attracting the Most Families (Raleigh, NC) Forbes | September 2014
#1 Metro for Life Science Clusters (Raleigh-Durham, NC) Business Facilities | August 2016
#41 World’s Leading Metropolitan Areas (Raleigh, NC) The Brookings Institute January 2015
#2 Fastest-Growing Large U.S. City from 2010 to 2030 (Raleigh, NC) United Nations Population Division August 2014
#2 Top State Business Climate (North Carolina) Site Selection | November 2016 #2 Hottest Spot for Tech Jobs (Raleigh, NC) Forbes | September 2016 #2 Area with the Highest Number of Tech Jobs (Raleigh-Durham, NC) New York Times | August 2016 #3 Best Midsize Metro for Jobseekers (Raleigh, NC) American Institute for Economic Research | July 2016
2015 City to Watch (Raleigh, NC) Urbanful | January 2015 #3 Best Place for Entrepreneurs to Start a Business (Raleigh, NC) US Chamber of Commerce | August 2014 #5 Best-Performing Large U.S. City (Raleigh-Cary, NC) Milken Institute | January 2015
#3 Best Place for Business & Career (Raleigh, NC) Forbes | October 2016
#2 Most Affordable Market with Good Schools (Raleigh, NC) RealtyTrac | November 2014
#3 Top U.S. Life Science Cluster (Raleigh-Durham, NC) JLL Life Science Outlook | October 2016
#7 Smartest City in America (Raleigh, NC) Forbes | November 2014
#3 Best City to Live in (Raleigh, NC) WalletHub | July 2016
#2 Easiest Place to Find a Job (Raleigh, NC) Forbes | November 2014
#3 Best Place for Entrepreneurs to Start a Business (Raleigh, NC) U.S. Chamber of Commerce August 2014 #9 Fastest-Growing U.S. Airport (Raleigh-Durham International Airport) Business Facilities | August 2014 #2 Fastest-Growing City (Raleigh, NC) Business Facilities | August 2014 #1 Best Place for Business in 2014 (Raleigh-Cary, NC) Forbes | July 2014 #7 Best City for Future Job Growth in 2014 (Raleigh-Cary, NC) Forbes | July 2014 #1 Best City for Raising a Family (Raleigh, NC) Forbes | April 2014
Source: Wake County Economic Development
5121 Kingdom Way, Suite 200 Raleigh, NC 27607 +1 919 832 0594 naicarolantic.com
Confidential Offering Memorandum presented by
Robin Roseberry Anders, SIOR NAI Carolantic Realty, Inc.
Adderson Scott NAI Carolantic Realty, Inc.
tel +1 919 714 7133 cell +1 919 369 3713 [email protected]
tel +1 919 714 7141 cell +1 919 524 8741 [email protected]
1
Disclaimer
NAI Carolantic Realty, Inc., (“Broker”) has been retained by the Seller in Research Triangle Park, NC (“Property”) as the exclusive broker for this Investment opportunity. This Offering Memorandum has been prepared by Broker for use by the principal (“Principal”) to whom Broker has provided this Offering Memorandum. The use of this Offering Memorandum and the information provided herein is subject to the terms, provisions and limitations of the Confidentiality Agreement furnished by Broker and executed by Principal prior to delivery of thisOffering Memorandum. Although the information contained herein is based upon sources believed to be reasonably reliable, Owner and Broker, on their own behalf, and on behalf of their respective officers, employees, shareholders, partners, directors, members and affiliates, disclaim any responsibility or liability for inaccuracies, representations and warranties (expressed or implied) contained in, or omitted from, the Offering Memorandum or any other written or oral communication or information transmitted or made available to the recipient
of this Offering Memorandum. In amplification of and without limiting the foregoing, summaries contained herein of any legal or other documents are not intended to be comprehensive statements of the terms of such documents but rather only outlines of some of the principal provisions contained therein, and no representations or warranties are made as to the completeness and/or accuracy of the projections contained herein. Prospective purchasers of the Property should make their own investigations and conclusions without reliance upon this Offering Memorandum, the information contained herein or any other written or oral communication or information transmitted or made available. Additional information and an opportunity to inspect the Property will be made available upon written request by interested and qualified prospective purchasers. Owner expressly reserves the right, exercisable in Owner’s sole and absolute discretion, to withdraw the Property from being marketed for sale at any time and for any reason. Owner and Broker each expressly reserves the right, exercisable in
their sole and absolute discretion, to reject any and all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. Broker is not authorized to make any representations or agreements on behalf of Owner. Owner shall not have any legal commitment or obligation to any entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and until a written agreement for the purchase and sale of the Property has been fully executed, delivered and approved by Owner and the other party thereto and any conditions to Owner’s obligations hereunder have been satisfied or waived. If you have no interest in the Property at this time, return this Offering Memorandum immediately to: NAI Carolantic Realty, Inc. 5121 Kingdom Way, Suite 200 Raleigh, NC 27612 tel fax
+1 919 832 0594 +1 919 832 7385
naicarolantic.com
Offering Memorandum
Offering
One Triangle Drive Property Address
1 Triangle Drive, Research Triangle Park, NC, 27709
Location:
Located at the corner of NC Hwy. 54 & Triangle Dr.
PIN#:
0738-03-42-5054
Price
$4,150,295 ($85/SF)
Terms
All Cash
Rentable Square Feet
48,827 SF
Percent Leased
75.6% leased until 7/31/17
Summary
70
15 501
50
70
85
85 85
Fa Falls La Lake
751
KE DUKE UN VER TY UNIVERSITY 15 501
98
147
98
DURHAM
40
70
Price/SF
$85/SF
Year Built
1978
Lot Size
12.87 Acres
Zoning
SRP (Science Research Park)
Target Buyer
Owner-Occupant or Investor
751
15 501
55 50
U C UNC 540
Briercreek S/C
27 74 274 54
279 2 27
CHAPEL HILL
540
RDU International Airport
RES RESEARCH SEA SEA ARCH A AR R H RC TR TRIANGLE RIA AN A NGLE E PARK PA ARK AR RK
70
54
MORRISVILLE
751
Lake Crabtree
40
William B. Umstead State Park PNC Arena
540 55
Jo daan Jorda an Jordan Lak ake ak kkee Lake
© 2016 NAI Carolantic. All rights reserved.
CARY
40
RALEIGH Crabtree Valley Mall
440
70
Offering Memorandum
One Triangle Drive
Property
Description
NAI Carolantic Realty is pleased to present the opportunity to acquire 1 Triangle Drive, a 48,827 square foot single story flex/office building located in the heart of North Carolina’s world renowned Research Triangle Park (“RTP”). More than 200 companies call RTP home with over 50,000 experts in fields such as micro-electronics, telecommunications, biotechnology, chemicals, pharmaceuticals, and environmental sciences. Within and surrounding one of the largest research parks in the world, industries invest more than $296 million in R&D at the region’s universities each year – double the average R&D investment for innovation clusters elsewhere in the nation. 1 Triangle Drive is located within the geographic center of RTP. The building is 76% leased through July 2017 providing income during any pre-redevelopment planning. A well maintained office building built in 1978 and extensively remodeled in 2008, 1 Triangle Drive is sited on 12.87 acres with abundant parking in a heavily wooded setting. The site is large enough to allow room for future development, such expansion to include an additional two story 45,000 SF office or lab building, while still maintaining a 4:1000 surface parking ratio. Additional features include monument signage, direct access to the RTP trail system, visibility from Highway 54 and an ideal location within one mile of restaurants and shopping. The Streets at Southpoint, a major regional mall, is within a 5-minute drive, and Raleigh-Durham International Airport is only 10 minutes away. Within a 15 minute walk is RTP’s Park Center, and specifically The Frontier, a centrally located collaborative hub for entrepreneurs (http://www.rtp.org/about-us/the-frontier). Park Center itself is soon to undergo a major redevelopment with the Research Triangle Foundation having secured $50 million and all necessary zoning to initiate a mixed use plan on its 100 acres, inclusive of retail, residential, office, hotel and lab.
Offering Memorandum Summary Address Offering Price Terms Year Built Total Size Occupancy
1 Triangle Drive, RTP $4,150,295 ($85/SF) All Cash 1978 48,827 SF 75.6% through 7/1/2017
Offering Memorandum
Physical
One Triangle Drive
Description
Address
1 Triangle Drive, Research Triangle Park, NC 27713
Property Type
Flex / Office
Square Feet
48,827
Year Built
1978
Percent Leased
75.6% leased until 7/31/17
Exterior
Brick veneer, EIFS (Exterior Insulation and Finish System), and wood paneling
Parking
193 regular spaces, 7 handicap (4.44 per 1,000 RSF)
Ceiling
Heights 9’0” floor to drop ceiling grid. Ceiling grid to joist-34”. Ceiling grid to roof deck-4’11”
Fire Protection
Chemical fire-suppression system located in records-storage room of suite 100
Foundation
Reinforced 4” poured concrete slab
Electrical
(2) 800 AMP services that feed the building (one in each suite). 480 volt-3 phase / 277 one leg
HVAC
(1) 50-ton, (1) 40-ton, (1) 5-ton and (4) 3-ton rooftop units (31) heat boxes, (3) variatric controls. All HVAC equipment manufactured by Trane.
Lighting
Fluorescent fixtures
Roof
Flat metal roof system with TPO membrane (added in approximately 2008)
Windows
Double pane windows in anodized metal frames
Utilities
City of Durham
Zoning
SRP, Science Research Park by Durham County
Site Improvements
Site improvements include landscaping, separate monument signage for each suite, sidewalks, surface parking and exterior lights
Offering Memorandum
One Triangle Drive
Floor
Plan
SUITE 100 36,912 SF
SUITE 200 11,915 SF
Offering Memorandum
Property
Aerial
EXISTING 1-STORY ±49,000 SF
OPTIONAL 2-STORY OFFICE BUILDING 45,000 SF
54
TW ALEX
KWY ANDER P
TRIA
NG LE D R
One Triangle Drive
94,000 TOTAL SQUARE FEET 364 PARKING SPACES
Offering Memorandum
Area
One Triangle Drive
Aerial
55
751
RESEARCH TRIANGLE PARK STREETS AT SOUTHPOINT MALL
40
RENAISSANCE CENTER
54
1 TRIANGLE DRIVE TRIANGLE VILLAGE SHOPPING CTR
THE PARK CENTER
40
751 TO UA IRP OR T
RD
147 55
Offering Memorandum
Area
One Triangle Drive
Amenities
55
147
RESEARCH TRIANGLE PARK TRIANGLE VILLAGE SHOPPING CTR
LOWE’S GROVE MIDDLE SCHOOL
FEDEX SHIP CENTER
NG LE D R
54
TRIA
KESTREL HEIGHTS SCHOOL
S ALSTON AVE
DURHAM CO. PUBLIC LIBRARY
54
147 55
Offering Memorandum
One Triangle Drive
Property
Photographs
Offering Memorandum
One Triangle Drive
Property
Photographs
Offering Memorandum
One Triangle Drive
Property
Photographs
Offering Memorandum
One Triangle Drive
Park
Center
The Research Triangle Foundation has announced it has secured $50 million for the Park Center redevelopment through a series of publicprivate partnerships. Park Center is a 100-acre property located in the heart of North America’s largest science park that was purchased by RTF in 2014. Park Center will be the first major redevelopment in RTP’s history, and will bring together private industry, universities and all of North Carolina in an inspiring setting at the heart of the Triangle. For more information: http://www.rtp.org/about-us/park-center/
Macroeconomic
Drivers
Exponential Population Growth
Quality of Life
Considered the fastest growing region in the state, the Raleigh/Durham/ Research Triangle region has a population of over 2 million and has grown by more than 40% in the last 20 years. The region is expected to continue to grow at an even faster rate in the next decade. Within the Triangle region, Wake County is the largest and fastest growing area with a population of more than 925,000, adding approximately 65 people per day.
The low cost of living, quality health care, and ready access to abundant recreational activities make the Triangle region a desirable place to start or relocate a business. Centrally located between the majestic Blue Ridge Mountains to the west and the legendary Outer Banks and Atlantic coast to the east, the Triangle enjoys a favorable climate year-round. Tropical air in the summer and mild temperatures in the winter keep the mean annual temperature at a comfortable 60 degrees.
Diversified Employment Base At the heart of the region’s success lies a diverse and growing blend of people and cultures from every corner of the globe. The region’s quality growth and ability to mix native traditions and newcomer influences have shaped a population full of vitality, diversity, and prosperity. With a diversified and prosperous business climate and an environment attractive to tomorrow’s technology, the Triangle boasts one of the most highly educated and diverse workforces in the nation. With more than 46 percent of its 25-or-older population holding a bachelor’s degree or higher, it’s no wonder Forbes magazine ranked Raleigh as one of the best cities for new college grads.
Innovation As the home of three nationally renowned research universities, the Triangle has garnered a reputation for innovation and entrepreneurship. The Research Triangle region utilizes a triple helix business model in which leaders from the area’s businesses, government, and major research universities work together to transform business practices, acquire and develop the latest technology to enable new companies and industries to thrive.
Top Business Climate Anchored by one of the nation’s largest research parks and three nationally renowned research universities, the Research Triangle area consistently ranks among the nation’s best economies year after year. Industry giants in pharmaceuticals, computer software, telecommunications, cleantech, and biotechnology dot the landscape, helping to fuel thriving retail sales and entrepreneurial success.
Consistent Employment Growth The Triangle area has had consistently low unemployment rates accompanied by high rates of job growth. The area’s unemployment is consistently below the statewide unemployment rate as well as the national rate. The metro area’s economic success is most evident in the rising incomes of its residents. The region’s per capita income has long outstripped the state’s per capita income, and this strong economic performance is projected to continue to increase over the next 15 years.
Recent Triangle
Accolades
#1 Best Big City to Live in the Southeast (Raleigh, NC) Money Magazine | September 2016
#3 City Secretly Great for Tech Grads (Raleigh, NC) Datafox | January 2016
#1 U.S. City Attracting the Most Families (Raleigh, NC) Forbes | September 2014
#1 Metro for Life Science Clusters (Raleigh-Durham, NC) Business Facilities | August 2016
#41 World’s Leading Metropolitan Areas (Raleigh, NC) The Brookings Institute January 2015
#2 Fastest-Growing Large U.S. City from 2010 to 2030 (Raleigh, NC) United Nations Population Division August 2014
#2 Top State Business Climate (North Carolina) Site Selection | November 2016 #2 Hottest Spot for Tech Jobs (Raleigh, NC) Forbes | September 2016 #2 Area with the Highest Number of Tech Jobs (Raleigh-Durham, NC) New York Times | August 2016 #3 Best Midsize Metro for Jobseekers (Raleigh, NC) American Institute for Economic Research | July 2016
2015 City to Watch (Raleigh, NC) Urbanful | January 2015 #3 Best Place for Entrepreneurs to Start a Business (Raleigh, NC) US Chamber of Commerce | August 2014 #5 Best-Performing Large U.S. City (Raleigh-Cary, NC) Milken Institute | January 2015
#3 Best Place for Business & Career (Raleigh, NC) Forbes | October 2016
#2 Most Affordable Market with Good Schools (Raleigh, NC) RealtyTrac | November 2014
#3 Top U.S. Life Science Cluster (Raleigh-Durham, NC) JLL Life Science Outlook | October 2016
#7 Smartest City in America (Raleigh, NC) Forbes | November 2014
#3 Best City to Live in (Raleigh, NC) WalletHub | July 2016
#2 Easiest Place to Find a Job (Raleigh, NC) Forbes | November 2014
#3 Best Place for Entrepreneurs to Start a Business (Raleigh, NC) U.S. Chamber of Commerce August 2014 #9 Fastest-Growing U.S. Airport (Raleigh-Durham International Airport) Business Facilities | August 2014 #2 Fastest-Growing City (Raleigh, NC) Business Facilities | August 2014 #1 Best Place for Business in 2014 (Raleigh-Cary, NC) Forbes | July 2014 #7 Best City for Future Job Growth in 2014 (Raleigh-Cary, NC) Forbes | July 2014 #1 Best City for Raising a Family (Raleigh, NC) Forbes | April 2014
Source: Wake County Economic Development
5121 Kingdom Way, Suite 200 Raleigh, NC 27607 +1 919 832 0594 naicarolantic.com
