Farnborough: Business Park secures INC in major M3 corridor deal

Harbert Management Corporation and XLB have secured INC Research at Pinehurst 1 Farnborough Business Park, taking the new speculative scheme to full occupancy and landing the largest leasing deal in the M3 corridor in more than five years.

INC is a leading contract research organisation offering end-to-end solutions for professional clinical trials around the world. It has acquired the whole of Pinehurst 1 totaling 49,000 sq ft on an 11-year lease. The rent has not been disclosed.

1 & 2 Pinehurst offers up to 108,800 sq ft of new Grade A office accommodation and is now fully let to Time Inc, Fluor and INC Research. The vacancy level on the Park has hit a record low with 10,000 sq ft available at Templer Avenue, which is under offer.

Farnborough Business Park is home to businesses such as Fluor, Time Inc, Aetna, Capquest and now INC Research. The Park has a variety of amenities including a four-star De Vere Hotel, a Health & Fitness club, Cafes, Nursery and a new Drive Thru Costa Coffee.

CBRE, DTRE and Hollis Hockley represented Harbert Management Corporation/XLB. JLL advised INC Research.

Source: CoStar