A Raleigh firm has secured a tenant for an entire floor in the first tower at a huge development in Midtown even as the office market continues to change in the era of remote work.
Summit Design and Engineering Services is leasing 30,171 square feet at Dewitt Carolinas’ 1000 Social in The Exchange Raleigh development off St. Albans Drive. The design, engineering and construction management firm, headquartered in Hillsborough, will occupy the entire eighth floor with a suite that has a large private balcony and 360-degree view of the city.
The suite will be for the firm’s design and operations team and serve as a flagship office while the headquarters will remain in Hillsborough. Summit will move from its current Raleigh office on Navaho Drive to the new one at 1000 Social, maintaining about 50 employees in the office. Summit officials said there are more employees spread throughout the Triangle at project sites who will also be able to use the new office.
“We are excited about the new space, and we are grateful for our partnership with Dewitt. Over the past several years Summit has expanded our footprint across the Southeast and into Texas and Colorado,” Summit President Troy Dover said in a statement. “As we have expanded into new communities, our focus on supporting our home state and the Triangle has remained. We look forward to continuing our investment in Raleigh and can’t wait to welcome our team, partners and clients in our new space.”
Dewitt Carolinas signed its first tenant for 1000 Social, Whitley Law Firm, in November 2022 for 18,000 square feet.
As vacancies remain high, Triangle office space faces changing future
Construction is well underway at 1000 Social, the first of two mirroring 12-story office towers in the 40-acre, billion-dollar project. Dewitt anticipates tenants will be able to move into the first tower in early 2024.
The entire development is expected to take about 10 years to complete. The first tower is on track to deliver 330,000 square feet of Class A office space, 20,000 square feet of retail and 5,000 square feet of conference and meeting centers. It will be connected to 2000 Social by an elevated pedestrian skybridge.
When The Exchange Raleigh is complete, it is set to have up to 990,000 square feet of office space, 125,000 square feet of retail space, 300 hotel rooms, up to 1,275 residential units and four acres of an activated park space. It is Dewitt Carolinas’ biggest property and development project in the Triangle.
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Dewitt Carolinas’ specializes in office, retail and multifamily development and property and construction management. It also owns the One Renaissance Center office building in Raleigh, where Summit currently has an office.
Summit Design and Engineering Services has 14 offices across six states with more than 400 employees.
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