Highwoods to Develop MetLife’s Global Technology and Operations Hub in Cary
- Sep 11, 2013
by Adriana Pop, Associate Editor
Raleigh-based Highwoods Properties has unveiled its plans to develop a $110 million office park for MetLife on Weston Parkway in Cary.
Called Weston Lakefront, the 100 percent pre-leased build-to-suit campus along the shores of Lake Crabtree will initially include two, 213,500-square-foot, LEED-certified office buildings with structured parking. The facilities will be located on 26.5 acres of a 40-acre site Highwoods owns near the Raleigh-Durham International Airport. The remaining 13.5 acres of waterfront land will be pre-graded to accommodate a third potential building, the company announced.
“We are very pleased to have been selected by MetLife to build a campus for their new southeastern-based, global technology hub, which will initially house 1,200 new MetLife employees. This represents entirely new absorption for the market and is a true testament to the strong technology-oriented employment pool that continues to attract companies to migrate to the greater Triangle area. MetLife has been a long-term, highly regarded Highwoods customer in a number of our other markets, and we genuinely appreciate their continued confidence in our team and brand,” Ed Fritsch, president and CEO of Highwoods Properties said in a news release.
In March, MetLife announced it would be opening two new hub campuses in Cary and Charlotte that would create 2,600 new jobs in North Carolina.
Construction on the Weston Lakefront project is expected to begin this fall and be complete in 2015. Meanwhile, the New York-based life insurance giant is using the 116,300-square-foot Danbury Building at the Imperial Center office park in Durham to accommodate its growth.
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