Hub RTP Developer Wants Leases Before Building

Sometimes, trying times demand some caution. A 265,000-square-foot building set for the massive Hub RTP development won’t go vertical until it’s at least 30 percent preleased.

The Triangle Business Journal reports real estate developer Longfellow is planning an 8-story lab and office building on the corner of Davis Drive and Sancar Way between Interstate 40 and Highway 55 in the Raleigh, Durham, Chapel Hill triangle. The building, called Via, is fully designed and permitted, but Longfellow wants tenants on board before fully financing the project.

The company is hoping to start construction by this time next year with an 18 to 20 month timeline for the buildout.

Longfellow hasn’t yet signed any preleases for Via but said there has been interest. The company, with offices in Boston and the Triangle, anticipates that some clients in other Longfellow buildings might be interested in expanding into the new space at Hub RTP.