Dominion Realty Partners is set to begin construction on a fourth office building near the PNC Arena in west Raleigh this week.
The four-story, 103,300-square foot Wade IV will join three others in an office complex in west Raleigh. The building has no pre-leased tenants and is leasing at $28.50 per square foot, the company said.
Wade IV will take about 12 months to construct and is expected to be completed in late summer of 2017. Dominion Realty is partnering with Prudential global Investment Management on the project; Dominion is both the developer and will also be the on-site property manager. The general contractor for the project is Choate Construction.
The last building in the series, Wade V, is a planned eight-story, 285,000-square foot office. Dominion Reality will not begin construction on the Wade V, which faces onto Wade Ave., until a tenant commits to lease substantial space in the building.