Three Firms Take Space in Regency Forest Bldg.

Caterpillar Inks Largest Lease at 29,700 SF; Orion International, American Tower Co. Lease on Third Floor

By Michael Hajjar
May 1, 2007
CoStar Group

Three companies leased a total of 58,775 square feet at Regency Forest III, a 112,000-square-foot office building at 400 Regency Forest Drive in Cary, NC.

Caterpillar Inc., the global manufacturer of heavy machinery for construction, mining, forestry and military uses, leased the entire fourth floor for an occupancy of 29,701 square feet. Orion International, the nation’s largest military recruiting firm, will occupy 11,537 square feet on the third floor. The building’s previous owner, American Tower Co., has moved into the remainder of the third floor, taking 17,537 square feet.

American Tower, an owner and operator of communications sites for the wireless and broadcast industries, sold the property to Crown West Realty last June for about $13 million

The Class A building is at the intersection of Route 1 and Tryon Road in the Regency Forest building park.

Chris Norvell of Colliers Pinkard represented Caterpillar, while Michael Waldrop of Waldrop Properties LLC represented Orion International. Martie Serianni, Jim McMillan and John Linderman of Grubb & Ellis/Thomas Linderman Graham represented Crown West Realty in each deal.