ABB will lease 94,000 square feet of space in the Alliance Center I office building under construction on N.C. State Universitys Centennial Campus in Raleigh.
Next year, the Swiss energy conglomerate plans relocate about 350 employees into the Alliance building from the nearby 940 Main Campus Drive building. ABB will continue to occupy the first two floors of the 940 Main Campus Drive building.
ABB is taking three of the five floors in the 145,000-square-foot Alliance Center I building, which is expected to be completed early next year. The $38 million project finally broke ground earlier this year after nearly five years of delays. It is being built by local developer Craig Davis Properties.
ABB, which has its North American headquarters in Cary, employs about 700 people in Cary and Raleigh and 2,000 throughout the state. The company makes power transmission and distribution equipment, such as substations and transmission lines, and software and hardware to manage electricity flowing through the power grid.
Last week, ABB was among 18 companies named to be a part of a $140 million research consortium that will be based at Centennial Campus. ABB is receiving $2.1 million of the grant money and contributing $2.5 million to the project.
The Alliance building was first proposed in 2008, just before the credit markets froze and demand for new office space evaporated. ABB has signed a 10-year lease in the new building. The project also includes a 523-space parking deck.