Citrix Plans to Place Raleigh Headquarters in Warehouse District
- Aug 08, 2012
by Adriana Pop, Associate Editor
Citrix Systems Inc. has made the decision to locate its new downtown Raleigh headquarters in the old Dillon Supply steel warehouse at the corner of West and Hargett streets. The NewsObserver reports that the company plans to move into its new offices by November 2013, becoming the largest corporate presence in the warehouse district and possibly a catalyst for further redevelopment.
The two-story building will provide 130,000 square feet of space, while its 50,000-square-foot roof will include a fitness center, a yoga studio, a bocce court and a restaurant with indoor and outdoor seating. Employees will also have access to a six-story parking garage which will be built on a site north of the warehouse. Approximately 550 employees will be able to fit in the new offices, though there is a possibility for future expansion.
The warehouse is currently owned by Triangle Transit, which is in the process of appraising the property. Raleigh-based private equity firm Cherokee Investment Partners and The Crown Co. from Dobson plan to purchase the entire block the structure sits on for $2 million. Once the transaction is complete, Citrix intends to sign a 15-year lease for its new building.
Citrix’s incentives package from the Job Development Investment Grant requires the company to invest $12.5 million in its new headquarters. If it meets hiring and investment requirements, Citrix will receive more than $9.2 million, as approved by the state Economic Investment Committee. The purpose of the funds is to support new and expanding businesses which would not otherwise be undertaken in North Carolina.
In October 2011, the company acquired Raleigh-based software firm ShareFile, which became Citrix System’s Data Sharing Group. Since the acquisition, the division has grown to 150 employees and is planning to add 337 more over the next five years. The company announced it would pay an annual average wage of $70,695, well above the Wake County average of $45,396.
Photo credits: raleighwarehousedistrict.com