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MetLife to Add Third and Final Bldg. to Global Tech Campus in NC's Research Triangle

Highwoods Properties to Develop 213,500-SF Bldg. Expected to Add 500 Positions
October 30, 2017
MetLife (NYSE: MET) is expanding its global technology campus in suburban Raleigh's Research Triangle Park with the development of a third building that will bring an additional 500 jobs to Cary, NC.

The holding corporation for the Metropolitan Life Insurance Co. in New York City, MetLife, which also has large operations in Wake and Mecklenburg Counties, opened its global technology campus in 2015 with a pair of 213,500-square-foot, seven-story office buildings developed and owned by Raleigh-based REIT, Highwoods Properties (NYSE: HIW).

The third and final building will serve as MetLife's global innovation center, which will look to bring innovative startups to the company's tech campus. That build-to-suit will also measure 213,500 square feet over seven stories, and will be developed and owned by Highwoods.

"To win in the marketplace, we must design products that customers need, make them simple to buy and use, and deliver a superior digital experience. Our work on this campus will help drive that effort," said Steve Kandarian, MetLife’s chairman, president and CEO. "MetLife is pleased to be deepening our relationship with North Carolina given the favorable business environment, abundance of talent, and the competitive costs of doing business here."

Fronting Lake Crabtree along Weston Pky., the 26.5-acre campus features an outdoor amphitheater, basketball court, campus-wide Wi-Fi, collaborative meeting rooms, wellness rooms and structured parking. The first two buildings achieved LEED certification, with the third expected to do the same.

Jane Doggett of Highwoods Properties represented the owner in the lease negotiations with MetLife. Highwoods expects to complete construction on the project in the first quarter of 2019.
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