Following sale, Kane Realty picks up Duke’s top dog in Raleigh
The shake-up in the Triangle’s commercial real estate market following Duke Realty Corp.’s (NYSE: DRE) sale of 24 office properties this week in Wake County has led to a new job for Duke Realty’s leader of its Raleigh division, Hooker Manning.
Manning has been hired by North Hills’ developer Kane Realty Corp. of Raleigh to be its new director of office leasing and development.
At Kane, Manning will be focusing on the expansion of Kane’s office portfolio in the region where the company already has under construction the 300,000-square-foot Tower Two at North Hills building on Six Forks Road and has started pre-leasing for the proposed 450,000-square-foot Tower III project.
In downtown Raleigh, Kane Realty is pitching plans to build up to 210,000 square feet of office space within a new mixed-use project called The Dillon in downtown’s Warehouse District.
Kane Realty also manages and leases the 300,000-square-foot CAPTRUST Tower office building and the 120,000 square feet of office space above retail at The Offices at North Hills.
Manning was previously vice president of leasing for Duke Realty’s Raleigh division based at Perimeter Park in Morrisville and had been with the Indianapolis-based real estate investment trust for 12 years. He had been promoted in November to vice president of leasing and development, taking over responsibility for all operations in the Raleigh office.
Jeff Sheehan of Raleigh, who was also promoted by Duke Realty in November, remains with the company as its senior vice president of the mid-Atlantic region with responsibility for the company’s operations in Washington, D.C., Baltimore and Raleigh. In the Triangle, Duke Realty still owns about 3 million square feet of warehouse and medical office building properties.
Duke Realty Corp. on April 1 finalized its sale of 62 suburban office properties in Raleigh, Nashville, St. Louis and South Florida to a joint venture partnership led by private equity investors Trinity Capital Advisors, Starwood Capital Group and Vanderbilt Partners, a deal valued at $1.1 billion.
Trinity Partners of Charlotte, a sister company of Trinity Capital Advisors, in March hired several of Duke Realty’s other staff members from the Raleigh division to help manage the ownership transition, including property management staff leaders Amy Mayer and Mike Landreth.