Adzerk Takes Top Floor at 505 S. Duke Street in Downtown Durham
The new lease kicks off extensive interior renovations to the building.
Durham, NC, December 5, 2018 –TradeMark Properties and Hem + Spire are pleased to announce an executed seven-year lease for 4,897 square feet on the fifth floor of 505 S. Duke Street, the former BB&T building in Downtown Durham. Fred Dickens, Senior Vice President and Sarah Warren, Vice President with Trademark Properties, negotiated and executed a lease with Adzerk, a rapidly growing Durham based software company. Dickens explains, “Durham remains one of the tightest submarkets for available office space. Tenants continue to seek out cool and different office environments that are a-typical from traditional Class A office space.”
The new lease execution will kick off core interior renovations. Kelly Villanueva, head of business development for Hem + Spire will oversee all building renovations and tenant upfits. Renovations will include a new building entrance, a complete reconfigured lobby, as well as a new HVAC system for the entire building. New tenant amenities include a break room and wellness room off the lobby with new finishes throughout. This second renovation phase of the building, including tenant build-out, will total more than $1.5 million. MHAworks will lead architectural efforts, Riggs – Harrod Builders will construct the renovations and project management will be overseen by Trademark Properties.
Founder of Hem + Spire and owner of 505 S. Duke Street, Maxwell Joseph remains committed to the community and Downtown Durham. Joseph said, “Adzerk typifies the innovative spirit that is driving the growth of Durham. Combining the intellectual capital in the Triangle area with the existing infrastructure of Durham is one of the most sustainable strategies for the long-term success of the city. We are thrilled to welcome Adzerk into 505 S. Duke Street and continue to re-imagine spaces for the future office users of Durham.”
The first startup in American Underground at American Tobacco Campus, Adzerk was founded by James Avery in 2009. Adzerk is an ad tech software company whose APIs make it easy for engineers and project managers to build their own fully customized ad server. Top e-retailers, user communities, and enterprises use Adzerk to build innovative ad servers to promote anything from native ads to internal content to sponsored product listings. Adzerk’s customer list includes Fortune 500 brands, public companies, and unicorn startups, including Bed Bath & Beyond, Ticketmaster, Salesforce, EllieMae, Strava, and many more. Avery explains, “We were founded in Downtown Durham and continue to experience tremendous growth; we’re excited to stay here and continue that expansion in our new space.”
The tenant was represented by Ryan Lawrence of Jones Lang LaSalle.
To view a complete listing of available commercial real estate properties in the Triangle, visit www.trademarkproperties.com. Sale and lease listings include detailed information regarding price, square footage, and location.
About TradeMark Properties
TradeMark Properties offers a full range of real estate and investment advisory services. From acquisition evaluation and due diligence tasks, through value enhancement and disposition strategies, TradeMarkguides its clients through every phase of real estate investment opportunities. Partnering with strategic alliances, TradeMark offers coordination of services such as equity development, financing, credit management, architectural and engineering services, development or project management oversight, and relocation services. TradeMark is organized around advisory services, such as sales, leasing, and asset management, including facility management and maintenance services. Its advisors are market experts in their areas of industry specialization, which include commercial leasing of office, industrial, retail as well as multi-family and investment property sales.