Office Space at The Dillon Now Over 96% Leased
Raleigh, NC (August 13, 2018) – Kane Realty Corporation and FCPSM are pleased to announce a new 104,000-square-foot office lease with Arch Capital Group Ltd. (ACGL), a globally diversified financial services group providing insurance, reinsurance and mortgage insurance. The company will be taking four full floors at The Dillon, making Raleigh an operational hub for the global company. The lease brings office space at The Dillon to just over 96% leased. Colin Reilly, Heath Chapman and Don Shupe with CBRE represented Arch in the lease transaction.
“We are extremely excited to have Arch at The Dillon” said John Kane, CEO of Kane Realty Corporation. “We believe that The Dillon will be a successful place for this company and an exciting location for their associates in the vibrant downtown Raleigh environment.”
“CBRE is pleased to have played a role in helping Arch execute this transaction,” said CBRE’s Reilly. “The functions that will reside at The Dillon will benefit from increased collaboration and will help support Arch’s operations around the world. Kane Realty and FCP are great partners for Arch and have delivered a world-class project for Arch’s current and future employees.”
The Dillon is an 18-story tower with 221,300 square feet of Class A office space, 270 apartment homes, covered parking and 52,000 square feet of coveted retail and restaurants in the center of Raleigh’s burgeoning Warehouse District. The landmark project makes up an entire 2.5-acre city block and sits adjacent to Union Station. The Dillon office building’s innovative design by renowned Duda|Paine Architects incorporates the character of the historic Dillon Supply building and surrounding Warehouse District, while providing state-of-the-art, efficient workspace.
The first office tenants at The Dillon moved into the building in June. Residents began moving in earlier this year, enjoying upscale amenities like a 3,000-square-foot fitness center overlooking downtown, work from home spaces, resort-style saltwater pool with wood sundeck, and a bike center with bike share program. The Dillon offers a wide variety of restaurants and retailers including Weaver Street Market, Urban Outfitters, O-Ku Sushi, Oak Steakhouse, Bishop’s Cuts & Color, Heirloom Brew Shop and Barcelona Wine Bar.
ABOUT THE DILLON
The Dillon is the first mixed-use development of its kind in downtown Raleigh’s rapidly expanding, vibrant Warehouse District. The 18-story project will include 220,000 square feet of Class A office space, two seven-story apartment buildings with an adjoining parking deck, and dynamic street-level retail space. With a nod to its 100-year-old history, parts of the original Dillon Supply warehouse building will be preserved and reused in its new life. Learn more about The Dillon at TheDillonRaleigh.com.
ABOUT KANE REALTY CORPORATION
Kane Realty Corporation (KRC) is a full service real estate development and management company focused on office, retail, multi-family and mixed-use properties of the highest quality. Based in Raleigh, NC since 1978, KRC is dedicated to the goal of creating irresistible places where people will naturally want to gather. Through meticulous attention to detail in every aspect of the property from design and construction management to leasing and property management, Kane’s mission is to build places that improve the quality of life of their businesses, their employees, residents and visitors. For more information, please visit KaneRealtyCorp.com.
ABOUT FEDERAL CAPITAL PARTNERS
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $5.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets in the Eastern United States.