Financial services group Arch Capital, which received millions in incentives to relocate workers to Raleigh, will have a great view of downtown when its new offices open here.
The company has signed a lease for 104,000 square feet of space in The Dillon tower in downtown’s Warehouse District, according to a release by Kane Realty, the building’s owner, on Monday.
Arch Capital will be taking four full floors at The Dillon, pushing occupancy at The Dillon to just over 96 percent leased, Kane Realty said.
Last month, Arch Capital received incentives worth more than $5.4 million from the state to relocate workers from its offices in New Jersey and New York to Raleigh. The Raleigh office, which was characterized as an operations hub, is expected to house at least 365 jobs, with an average pay of $109,191, The News & Observer reported in July.
“We are extremely excited to have Arch at The Dillon,” John Kane, CEO of Kane Realty Corporation, said in a statement. “We believe that The Dillon will be a successful place for this company and an exciting location for their associates in the vibrant downtown Raleigh environment.”
The Dillon is a 17-story office tower that opened earlier this year on the site of a former Dillon Supply warehouse. The complex has scores of apartments and more than 220,000 square feet of office space as well as ground-floor retail and restaurants.
Arch Capital will lease nearly half of the office space available at the building, according to the figures provided by Kane Realty.