Jones Lang LaSalle Incorporated : Capital secured for innovative headquarters campus in Raleigh

RALEIGH, July 27, 2021 -JLL Capital Markets announced today that it has arranged joint venture equity and construction financing for the development of a 533,889-square-foot office campus that will serve as the headquarters location for Bandwidth, Inc. in Raleigh, North Carolina.

JLL worked on behalf of a joint venture between East West Partners and Capitol Broadcasting Company to secure equity from USAA Real Estate and a construction loan with Wells Fargo Bank for the build-to-suit project.

Bandwidth, a fast-growing Raleigh-based software and technology company, will consolidate its current three locations in Raleigh into a centrally located, highly amenitized, state-of-the-art campus focused on employee mental well-being, physical health and fitness, family interaction and community involvement. The campus will feature 460,073 square feet of Class A office space, a 29,091-square-foot fitness center, a 13,425-square-foot recreational area, a 31,300-square-foot Montessori School, an on-site amphitheater, walking trails, café and recreation fields. An on-site parking garage will provide approximately 1,859 parking spaces.

The office building, which is anticipated to be completed in first quarter 2023, will be positioned on 23.34 acres, and Bandwidth owns 17 adjacent acres, allowing for future expansion needs.

Located at the corner of Reedy Creek Road and Edwards Mill Road, the campus is central to the Triangle's largest employment and entertainment centers; is easily accessible from main transportation arteries; and is adjacent to the world class natural amenities of Schenk Memorial Forest, William B. Umstead State Park and the NC Museum of Art, which, together, provide more than 6,000 acres of outdoor biking and hiking trails, rivers and lakes.

The JLL Capital Markets team representing the venture was led by Roger Edwards, Travis Anderson, Michael George, Coler Yoakam and Warren Johnson.

'It was very exciting to be a part of the team with East West Partners and Capitol Broadcasting Company to help make this project a reality for Bandwidth,' Edwards said. 'Both USAA Real Estate and Wells Fargo were excellent to work with on the capitalization of this transformative project.'

Raleigh continues to be one of the nation's leading growth markets attracting both residents and new companies to the area. The MSA's population grew 3.5 times the national average from 2010 to 2020 and a recent U.N. study ranked Raleigh as the No. 2 fastest growing population among large U.S. cities from 2010 to 2030.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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