GSK Sells RTP Campus

Source: Triangle Business Journal
Author: Marc DeRoberts

Pharmaceutical company GlaxoSmithKline has sold its 20-building campus at its North American headquarters in Research Triangle Park.

Parmer Innovation Partners bought the buildings and will rename it Parmer RTP. A GSK representative said the sale would have no impact on employee jobs. The company announced plans to sell the buildings in 2016.

Of the campus’ 1.8 million square feet, GSK will lease 700,000 square feet spread across four buildings it currently occupies. The company has signed a 10-year lease for the space.

In 2015, GSK cut about 1,000 jobs in the Triangle and consolidated its remaining staff and researchers in two buildings at 5 Moore Drive. It vacated seven buildings at its South Campus in RTP, which is able to accommodate about 1,300 employees, according to a marking flyer that advertised the buildings' potential. The “plug and play” campus already has a data center, a fitness center, auditorium and cafeteria, plus a lot of furniture and equipment configured for an open-floor plan. Real estate sources said Credit Suisse considered occupying a portion of the campus as it considered an RTP expansion.

Following the deal closure, Parmer said it plans to spend $80 million renovating the facilities.

Ben Kilgore, Lee Clyburn and Brian Carr with CBRE|Raleigh and Brian Scott of CBRE, Inc.’s New York office led the sale on behalf of GSK.