Horseshoe at Hub RTP offices sat empty for over a year — until now. Here’s an update.
AI-generated summary reviewed by our newsroom.
- Horseshoe filled initial leases after sitting empty since late 2024, yet is ~40% leased.
- Genesys took the 5th floor (26,393 sq ft) and K&L Gates the 4th floor.
- Overall vacancy eased from 21.3% to 20.6% as select submarkets led leasing.
Horseshoe at Hub RTP, a Class A office space in the heart of Research Triangle Park, has sat brand-spanking-new — and empty — since coming online in late 2024.
Built “on spec,” it had no tenants lined up before construction.
But within days, it welcomed its first occupant and signed another major lease, milestones that hint at a slow thaw in RTP’s battered office market after post-pandemic vacancies hit record highs.
This month, Software firm Genesys relocated its Durham office on Emperor Boulevard to the mixed-use district at 3151 Elion Drive, occupying 26,393 square feet on the fifth floor.
The California-based company previously announced the lease in early 2025. Cranes recently lifted the company’s logo into place atop the building.
Meanwhile, Pittsburgh-based law firm K&L Gates signed a lease for the fourth floor.
“The leasing team is feeling the momentum,” said Erik Johnson, founding partner of White Point, developer of Horseshoe at Hub RTP, in a release.
“Their move reflects both the strength of the RTP office market and the demand we’re seeing for high-quality, amenity-rich, sustainably built workplaces in mixed-use environments.”
Horseshoe is a trio of buildings wrapped around a courtyard on Elion Drive inside Hub RTP’s 100-acre district.
It includes up to 124,000 square feet of office space and 32,800 square feet of retail and restaurants — part of the Research Triangle Foundation’s long-term vision to transform the business park into a 100-acre “live-work-play” destination. (Hub RTP also includes Frontier RTP, a startup community, and Boxyard RTP, a dining hot spot built from upcycled shipping containers.)
In early 2025, Horseshoe announced a string of retail and restaurant additions — including a second location for the Durham Indian restaurant Cheeni and Knightdale’s Prime BBQ. Its first retail tenant, Nanny Goat Market, opened in July 2025.
However, it’s taken longer to fill office space, even with high-end amenities like a golf simulator, gaming zone and access to 16 acres of walking trails.
Horseshoe remains only around 40% leased.
Some 78,000 square feet of office space and 10,000 square feet of retail space has yet to be filled, according to leasing agent JLL’s website.
Triangle’s office market comeback?
After years of record-high vacancies and companies downsizing, experts say the recent signings show the Triangle commercial real estate market is finally on a comeback, with demand rebounding in select submarkets, such as North Hills and downtown Raleigh.
In Raleigh-Durham, overall vacancy peaked at 21.3% in the second quarter of 2025, breaking records set in 1986 and 1991.
It has since dropped to 20.6%, according to CBRE’s 2025 fourth-quarter market report.
More than 80 leases were signed in the last two quarters, with West Raleigh, Glenwood/Creedmoor, and the RTP/1-40 Corridor submarkets recording the highest concentration of lease signings, the report said.
Of these, 75% were new leases, indicating “expansion within the market.”
This story was originally published March 11, 2026 at 1:27 PM.
