JLL Secures $237.7 Million Loan for Research Triangle Park Life Sciences Campus

JLL recently facilitated a $237.7 million loan through Starwood Property Trust on behalf of King Street Properties, earmarked for Phase I of the Pathway Triangle life sciences campus. Located on McCrimmon Parkway in Morrisville, North Carolina, within the prominent Research Triangle Park (RTP), this phase encompasses four life sciences and advanced manufacturing buildings totaling 581,789 square feet.

Two buildings, comprising 377,111 square feet, have already been completed and are 73 percent leased. Building 1 is partially occupied by Liquidia Pharmaceuticals for manufacturing Yutrepia, an FDA-approved inhalation powder. Building 2 is fully leased to Novartis. Construction has commenced on the remaining two Phase I buildings: Building 4 (148,434 square feet) and Building 7 (56,244 square feet), with Building 7 fully preleased to Novartis. A second phase is planned, which will expand the campus to a total of 950,000 square feet. This significant financing underscores continued investment in specialized life sciences and manufacturing infrastructure in key regional hubs.