Grubb Ventures’ Glenwood North Project Begins As Raleigh’s First Suburban Office Building Razed

MMI Associates, Inc.
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For Immediate Release Contact: Patty Briguglio (919) 233-6600

Grubb Ventures’ Glenwood North Project Begins As Raleigh’s First Suburban Office Building Razed
Local Property Developer To Build Office Park

RALEIGH, N.C. – Gordon Grubb, president and CEO of Grubb Ventures, LLC, has announced that the Glenwood North office park redevelopment project, located just inside the Beltline at 3700 Glenwood Avenue, has entered the construction phase after heavy equipment successfully razed the “Kogerama” building in less than 25 minutes.

A five-story, 110,000-square-foot Class-A office building will be erected on the site of the old structure. The lead tenants for the new office complex, scheduled to open in the first quarter of 2007, will be Regions Bank’s and Morgan Keegan’s Triangle headquarters. The building will have a three-story parking deck with covered access and a Regions Bank retail office with a drive-through teller. The design includes energy-efficient systems, extensive landscaping, and a brick and glass exterior finish. Long-term plans include a boutique hotel and retail spaces.

“Glenwood Avenue inside the beltline is a premier location,” said Grubb. “With the commitment from Regions Bank and Morgan Keegan, 3700 Glenwood Avenue will set a new standard for this market.”

Under the direction of Grubb Ventures, the redevelopment project has hired Brasfield & Gorrie as construction contractors, Duda/Paine Architects LLP for design architecture, John A. Edwards & Company for civil engineering and Reynolds & Jewell for landscape architecture.

About Grubb Ventures:
Grubb Ventures was formed to develop infill properties that offer the highest quality of living and working environments. Their most recent development, The Gardens on Glenwood, won numerous awards including the Sir Walter Raleigh Appearance Award, the N.C. Chapter of the American Society of Landscape Architects Honor Award and the Triangle Commercial Real Estate Champion Award for Best Multifamily Development. For more information visit http://www.3700glenwoodnorth.com.

Patty Briguglio
MMI Associates, Inc.
919-233-6600
patty@mmimarketing.com

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