2012
- Capital wins SPACE Award for the Top Hospitality/Entertainment Development for the Chef's Academy. Tom Huff of Capital Associates received this award from the Triangle Business Journal, honoring industry leaders in the Research Triangle region of North Carolina. The Chef's Academy is a 24,000 square foot special-purpose building that was leased and developed by Tom and completed in 2011.
- Capital wins SPACE Award for the region's Top Sales Transaction for the sale of 11 buildings in Keystone Technology Park. Stephen Porterfield of Capital Associates received this award from the Triangle Business Journal, honoring industry leaders in the Research Triangle region of North Carolina. The sales transaction was for $88.8 million for the approximately 800,000 SF research and development park.
2011
- Tom Huff is now serving as Chairman of the Board of Directors for the Cary Chamber of Commerce. Tom received the gavel during the Chamber's Annual Banquet on September 7th at Prestonwood Country Club. Tom Ross, President of the University of North Carolina System, provided a keynote address. Approximately 400 people were in attendance.
- Capital Associates received a Certificate of Occupancy for the development of a build-to-suit in Perimeter Park, Morrisville, North Carolina for The Chef's Academy. The Chef's Academy is a culinary school operated by Harrison College with its headquarters in Indianapolis, Indiana. Representatives of The Chef's Academy are very pleased with the high quality and on-time delivery of the new 24,000 square foot special purpose building. The construction schedule was very aggressive, but meeting the July 1st date was very important due to the academic calendar of the college. The first students will start classes in August. The culinary school is an intensive full-time two-year program with graduates receiving an Associate of Applied Science (A.A.S.) degree in culinary arts.
- The Summit Office Building earns the ENERGY STAR for Superior Energy Efficiency - The Summit, a Class A office building located at 4101 Lake Boone Trail, has earned the U. S. Environmental Protection Agency's prestigious ENERGY STAR certification, the national symbol for superior energy efficiency and environmental protection. This signifies that the building's energy performance rates in the top 25 percent of facilities nationwide while meeting specific standards for thermal comfort and indoor air quality.
The Summit was originally developed in 1989 by Capital Associates, which also manages this 120,000 square foot granite building. The building's design incorporates several energy efficient features such as high performance glass, a 300-ton chiller, and an automated energy management system to monitor HVAC equipment. Recent upgrades include a cool roof to reduce heat absorption, a new cooling tower, the installation of LED lighting in the elevators, and T8 lighting in the common areas and tenant spaces.
The Summit joins a distinguished group of only 16 office buildings in Raleigh that have earned the ENERGY STAR designation.
- Capital Associates' building at 4201 Lake Boone Trail in Raleigh was sold to Highwoods Properties in April. This 48,000 square foot medical office building was developed by Capital Associates in 1998 and is 94% leased. Tom Huff handled the sale for Capital Associates. Per Tom, Capital Associates' longtime investor is very pleased with the sales price and return on investment. This property is a logical addition to Highwoods' West Raleigh Portfolio.
2010
- In spite of the economic slowdown, Capital Associates had another very successful year leasing space in its buildings. Capital leased over 250,000 square feet of space to new Tenants, over 90,000 square feet of space to existing Tenants (as lease expansions), and over 370,000 square feet of space to existing Tenants (as renewals). Because of the high quality of its buildings and property management services, Capital enjoys an overall occupancy rate of 90 percent--far higher than the market at large. Its medical office buildings are even higher at 97 percent leased.
- A ground breaking ceremony was held for construction of the new Chef's Academy culinary school in Morrisville. This ground breaking--one of the few in the Triangle in 2010--was attended by area dignitaries including the NC Secretary of Commerce and the Mayor of Morrisville. A culinary feast, prepared by the Nation Dean and future Morrisville campus Executive Chef, was enjoyed by more than 75 guests. Executives from the Educational Management Corporation (Harrison College) in Indianapolis were pleased by the Southern hospitality (including warm weather) and the initial sitework progress.
- Capital Associates completed the final phase of the 86,000 square foot headquarters building for Epic Games in Cary, NC. Beginning in 2009, Capital worked with Epic to develop a state-of-the-art facility that includes a motion capture studio, data center, rock wall, and slide. The look and design of the building is unique to this area and a complement to the computer game culture at Epic. Epic Games is one of the most successful and dynamic companies in the gaming industry.
- Capital Associates signed a long-term lease with the Educational Management Corporation (Harrison College) to develop a Chef's Academy culinary school. Approximately eight acres is under contract in Perimeter Park in Morrisville, between Carrington Mill Boulevard and NC 540, and site plan approval has been obtained from the Town Council. The to-be-built facility will be very similar to another Chef's Academy located in Indianapolis.
- THREE OFFICE BUILDINGS EARN ENERGY STAR® CERTIFICATION
Three Class A office buildings in Capital Associates' portfolio have been awarded the U.S. Environmental Protection Agency's prestigious ENERGY STAR certification, the national symbol for superior energy efficiency and environmental protection. This signifies that the energy performance of these buildings rates in the top 25 percent of facilities nationwide while meeting specific standards for thermal comfort and indoor air quality.
The three ENERGY STAR buildings are Concourse Lakeside One in Morrisville, Exchange West at Meadowmont in Chapel Hill, and BB&T/Two Hannover Square in downtown Raleigh. Energy saving components include variable speed drives on building motors, low-emissive glass or reflective coating on all windows, and automated energy management systems to provide real-time monitoring of all mechanical systems.
The EPA introduced ENERGY STAR in 1992 as a voluntary program to assess how efficiently a building uses energy relative to similar buildings nationwide. Based on a peformance rating scale from 1-100, a building must score a rating of 75 or higher to be eligible for the ENERGY STAR. Commercial buildings that achieve the ENERGY STAR certification use an average of 35 percent less energy than typical buildings and also release 35 percent less carbon dioxide into the atmosphere.
- Tom Huff was recently approved by the Cary Town Council to serve on a new task force to review the Cary sign ordinance.
- Bret Muller was appointed to serve on the 2010 Triangle Commercial Assocation of Realtors Board of Directors as President.
- Capital Associates made new leases, expansions and renewals totaling 545,046 square feet in 2009. Of this amount, approximately 58% was made in the last four months of the year. Leasing in 2009 included over 300,000 square feet to new tenants. Per Tripp Bradshaw and Bret Muller, two of our top leasing agents, Capital Associates was the clear market leader in the absorption of space for the year. Having excellent properties and property management helps make it possible to make new leases, expansions and renewals. Even in the current challenging economy, our average occupancy is over 91%. Capital Associates leases and manages its own developments, as well as properties owned by third parties.
2009
- Capital Associates is responding to increased interest in green development and sustainable management practices. Kandy Kidd, a LEED accredited professional, was a speaker at a recent "Green Luncheon" sponsored by the Downtown Raleigh Alliance. Just prior, Tom Huff participated on a panel of developers discussing "Growing Sustainable Homes and Buildings" at the annual planning conference of the Cary Chamber of Commerce in Southern Pines.
- Roads, landscaping, and signage are nearing completion in Lexington Seven, a 77-acre mixed use business park in Loudoun County, VA near Washington, DC. Finished lots are available for sale to office, hotel, and retail users.
- Major renovations and reconditioning of the 92,000 SF Random Hills Center (formerly the Long & Foster building) are complete in Fairfax, Virginia. Space in this prestigious and well located building is available for lease or for purchase as an office condominium.
- Loparex is relocating its corporate HQ from the Chicago area to Crescent Lakeside II in Cary, NC.
- Capital Associates has been selected to find office space for Global Knowledge and to sell a number of properties in the Triangle area of NC.
- With the latest addition of Carolina Perinatal Associates, Medical Plaza at Rex, a 103,500 SF medical office building on the main campus of Rex Hospital in Raleigh, NC, is 96% leased to a variety of medical practices.
- With design and permitting now complete, construction is underway of a 75,000 SF expansion of the headquarters for Epic Games in Cary, NC. Epic Games has created and produced several of the top selling computer games.
- After 12 years in its previous location, Capital Associates relocated its corporate office to Crescent Lakeside II in Cary, NC.
- Capital Associates in Greensboro, NC was recently selected by the owner to lease and manage 800 Green Valley Road, a 127,000 SF class "A" midrise office building.
2008
- Lawyers Mutual Liability Insurance Company of North Carolina has leased an entire floor in Weston II, Cary, NC. This new building is already 80% leased.
- Completed construction of the newest office building in The Crescent Business Park in Cary, NC--Crescent Lakeside II, a 140,000 SF class "A" office building.
- Completed construction of the newest office building in the Weston Business Park in Cary, NC--Weston II, an 80,000 SF class "A" office building.
- Ply Gem Industries has leased 20,000 SF for its corporate headquarters in Weston II, Cary, NC, which is currently under construction. This building will be completed in the Spring.
