King Street Properties has secured a $237.7 million loan for Pathway Triangle, a life science campus currently under construction in Morrisville, N.C. The financing backs an initial phase that has already attracted life science users, positioning the project as an emerging hub in the Research Triangle region.
The first phase of Pathway Triangle totals 581,000 square feet and has been pre-leased to Novartis and Liquid Pharmaceuticals, according to the announcement. These leases were signed in advance of delivery, indicating that demand for purpose-built life science space is supporting construction activity at the campus.
Upon full buildout, Commercial Search reports that Pathway Triangle is planned to comprise seven buildings totaling more than 950,000 square feet on a 75-acre site in the heart of the Research Triangle. The buildings are designed as two-story structures, aligning with common lab and life science configurations that prioritize flexible floor plates and specialized infrastructure needs.
The campus is located along the McCrimmon Parkway extension near Raleigh-Durham International Airport, giving tenants direct access to regional and national transportation links. Its position within the broader Research Triangle places the project within an established cluster of research institutions, life science companies and supporting corporate users.
Pathway Triangle also incorporates a dedicated amenity component known as The Junction. This amenity pavilion totals 10,670 square feet and is programmed with a café, fitness center, training room, lounge and a golf simulator. The Junction is complemented by an outdoor firepit area and 10,000 square feet of green space, providing on-site gathering, wellness and collaboration areas for campus occupants.
On the capital markets side, JLL arranged the financing on behalf of King Street Properties. The JLL team included Hugh Doherty, Brett Paulsrud, Amy Lousararian and Andrew Gray, working alongside Ward Smith and Libby Horton. Starwood Property Trust provided the loan, further extending its activity in institutional-scale commercial real estate debt.
The combination of sizable construction financing, pre-leased space to global and specialty life science tenants, and a campus-scale master plan underscores the continued role of the Research Triangle as a concentration point for life science development. With a mix of laboratories, office space and amenities, Pathway Triangle is positioned to expand the region’s inventory of modern life science facilities as the project advances.
