Durham, NC, February 18, 2019 – Hem & Spire and TradeMark Properties announce that Formlabs, a 3D printing technology developer and manufacturer, has signed a five-year lease for the first two floors of the historic 211 Rigsbee Avenue Building in downtown Durham. The property is one of four owned by Hem + Spire in the downtown area with renovations and the addition of a third floor completed last summer.
Formlabs was founded in 2011 by a team of engineers and designers from the MIT Media Lab and Center for Bits and Atoms. The company is headquartered in Somerville, Massachusetts with offices in Hungary, Germany, Japan, Singapore, China and most recently North Carolina.
“North Carolina is an excellent place for us to expand our engineering efforts,” said Peter Larsen, Project Manager at Formlabs. “The team in this new office will work on hardware and software R&D projects that expand what’s possible in digital manufacturing. Formlabs is excited to become part of this vibrant community of people making great things.”
The company will be leasing 5,280 SF in the lower two floors of the building and was represented by Ashley Lewis with JLL in the deal. Trademark Senior Vice President Fred Dickens and Vice President, Sarah Warren negotiated and executed the lease with FormLabs on behalf of Hem + Spire. TradeMark Properties will continue to handle leasing and project management for the property.
“Revitalizing Durham’s historical buildings is our primary aim. Maintaining the charm and history of these decades-old structures while upgrading their functionality to fit the requirements of 21st century tenants is at the core of our business model. Forward-thinking companies like Formlabs are exactly what we had hoped to attract when we bought and renovated this property,” said Maxwell Joseph, Founder, Hem + Spire. “211 Rigsbee Avenue and our other properties are buildings that have served the Durham community for many years, and it is our mission to make sure they continue to do so in the future.”
211 Rigsbee Avenue was built in 1938 and features 9,790 Rentable Square Feet (RSF). Located in the heart of downtown, it’s within walking distance of multiple restaurants, retail, the Durham Marriott City Center, parking and City Hall.
According to Fred Dickens with TradeMark Properties, “Helping to fill the spaces we represent with tenants who are a good match for the property and location is what we’re all about. 211 Rigsbee has a rich history as part of Durham’s downtown business scene, and now it will continue its significant contribution to the city as a key location for future innovation.”