Colliers International facilitated the restructuring of Nvidia’s lease in Durham, North Carolina to accommodate the company’s rapid growth in the Triangle. Their existing lease at 2700 Meridian Parkway was comprised of 33,226 SF with approximately six years of term left – the new, longer term lease at 2600 Meridian Parkway is comprised of approximately 65,599 SF.
The Colliers International team assembled included Martie Serianni in the Raleigh-Durham office, Paul McManus and John Colyar in the Mountain View office and, Phil Arnautou in the Redwood City office. The team was assembled to restructure Nvidia’s lease and provide them with the immediate ability to grow at one location, in one building and in contiguous space.
The Colliers team was able to negotiate approximately $1,626,075.00 in above market concessions in the lease that included a below market rental rate, an above market Tenant Improvement Allowance and above market Free Rent.
Nvidia Corporation is an American technology company incorporated in Delaware and based in Santa Clara, California. It designs graphics processing units for the gaming and professional markets, as well as system on a chip units for the mobile computing and automotive market.