(Raleigh, NC – July 28, 2011) Duke Realty/Kane Realty has finalized a lease with Slate Pharmaceuticals, Inc., a specialty pharmaceutical company that will take occupancy in CAPTRUST Tower at North Hills before year’s end. Founded in 2007, Slate Pharmaceuticals will be relocating from its current headquarters to more than double its footprint at CAPTRUST Tower.
Slate focuses on the commercialization of products that address both male and female health. The company currently markets FDA-approved TESTOPEL®, a long-acting testosterone medication uniquely delivered via a subcutaneous pellet.
Jeff Sheehan, senior vice president of Duke Realty’s Raleigh office, said, “Slate Pharmaceuticals is a strong, young company. An entrepreneurial leader in its field, Slate is a great fit for the CAPTRUST Tower tenant family.”
Slate was founded by experienced pharmaceutical executives who have held significant management positions both in the United States and overseas. This work has included leadership in large and emerging companies, both public and private.
Bob Whitehead, Slate’s chief executive officer, said, “CAPTRUST Tower is the signature building in one of the most dynamic areas of the city — North Hills. As we continue to grow and create more jobs in the Triangle’s blossoming bioscience community, we felt the surroundings at CAPTRUST Tower offered great conveniences and amenities which support the well-being of our valued employees.”
Neal Friedman of Friedman Consulting, Inc. represented Slate Pharmaceuticals in the negotiation. Alban Barrus and Tish Turner represented the ownership entity, Duke Realty/Kane Realty LLC.
Kane Realty Corporation CEO John Kane said, “Slate Pharmaceuticals now joins an outstanding group of corporate tenants at CAPTRUST Tower. We thought the building would be home to leading companies and this has proven to be true.”
Kane noted that five corporate tenants have moved offices to CAPTRUST Tower since January 1, 2011, including Insight Global, Kilpatrick Townsend & Stockton LLP, NovaQuest Capital Management, PricewaterhouseCoopers (PwC) and Wasserman Media Group.
CAPTRUST Tower is the first office high-rise to be built in the North Hills mixed-use development and is suburban Raleigh’s tallest building. Within the building, there are nine stories of premier office space atop a 750-car parking structure designed over 26,000 square feet of retail space. Office space in the building totals almost 275,000 square feet.
About Duke Realty Corporation
Duke Realty entered the Triangle market in 1999 and has developed many noteworthy properties including Perimeter Park and CAPTRUST Tower. Today, Duke Realty owns and manages more than 5.4 million square feet of industrial, office and medical office properties. On a nationwide basis, Duke Realty owns and operates more than 139 million rentable square feet of industrial, office, and medical office space in 18 major U.S. cities. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty is available at www.dukerealty.com.
About Kane Realty Corporation
Focused on the development and management of retail, office, residential, senior living and mixed-use properties of the highest quality, Kane Realty Corporation is dedicated to the goal of creating irresistible places where people will naturally want to gather. Through concern for smart growth and meticulous attention to detail in every aspect of the property from design to 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 www.kanerealtycorp.com