Capitol Broadcasting Company announced plans to develop the core of its American Tobacco Campus overlooking the Durham Bulls Athletic Park. The five-story building will have 130,000-sqft office space and 15,000-sqft of retail, while parking decks won't be needed as they are already in place. Located at GPS:35.99281,-78.90403 in the 300 block of Blackwell Street Durham, NC the new building is expecting to break ground 2012-April and be completed 2013-summer.Downtown Durham office space is among the lowest vacancy rates in the country at 6% and American Tobacco Campus has less than 2%. Within the 850,000-sqft office park are Smith Breeden Associates, The Law Offices of James Scott Farrin, Compuware, KeySource Bank, Burt's Bees, McKinney and Silver, Health IT Services Group, Wireless Generation, and HTC. In addition, Capitol Broadcasting has created the American Underground, a 26,000-sqft incubator space that caters to entrepreneurs. The new speculative office building, Diamond View III, an anomaly in these economic times is anticipating demand from these high growth businesses very soon.
