Assignment
Searching for a new headquarters for Anthony & Co in 1994, 616 and 702 Oberlin Road were on the market made empty by First Data Resources. We had to quickly acquire 90,000 square feet of empty office, find tenants fast and redevelop the property.

Objective
To finance, acquire, renovate, lease and manage 90,000 square feet at the tail end of the real estate depression of the early 1990's.

Opportunities/Challenges
The 616 building was an aged (1969) single floor of 30,000 square feet with a large sunken floor data center in it. 702 had a smaller sunken floor data center in its first floor. The leasing market was slow and tenants were hard to find.

Results
One of our partners moved their business into the building, as did Anthony & Co., the State of North Carolina took 41,000 square feet and MCM Corp took 30,000 square feet to fully lease the project in 1995. We are nearing ten years of 100% occupancy with one of the most successful office redevelopments in Raleigh.