FCP and Strategic Capital Partners Commence Forty540 II Development
198,535 SF Building 40% Pre-Leased to SolarWinds
Chevy Chase, MD, January 6, 2020 – FCP℠ and Indianapolis-based Strategic Capital Partners, LLC (SCP) announce the commencement of construction of a five-story, 198,535 square foot, Class A office building, Forty540 II, located at 710 Slater Road at the highly visible I-40/I-540 intersection in the RTP/I-40 submarket of Raleigh-Durham, NC. The partners, who together previously developed the adjacent Forty540 I office building, also announce that SolarWinds, a leading provider of powerful and affordable IT management software, has pre-leased 40% (80,000 square feet) of Forty540 II. SolarWinds is also a tenant at Forty540 I, which was sold by FCP and SCP in April 2019.
“The RTP/I-40 submarket continues to flourish based on the growth of the region and the central location near Raleigh-Durham International Airport. We are very pleased to build on the success with our partners at SCP as well as the team at CBRE with the development of this exceptional new office building.”
Forty540 II is scheduled to break ground in January 2020 with delivery anticipated in midyear 2021.
“We are excited that SolarWinds has chosen to expand at Forty540 II. It is yet another example of a technology company choosing to expand in Raleigh and RTP/I-40 submarket. We look to forward to moving them into their new facility in the summer of 2021,” said Rich Horn, SCP CEO.
Forty540 II will feature 41,000 square foot efficient floorplates, prominent building signage opportunities, a fitness center, showers, internet café and a rooftop sky lounge and amenity center.
FCP and SCP extend their appreciation to JLL for their representation of SolarWinds in the lease and to CBRE for their representation of the landlord.