After a $17 million sale of the 301 Hillsborough St. property close to Downtown Raleigh* in 2018, The Fallon Company, the owner of the property, announced a major lease agreement with Pendo, a software company based in Raleigh.
Pendo will relocate their corporate headquarters to the property and occupy five floors, according to Associated Press.
Earlier in February, the company submitted plans to the city of Raleigh for a 20-story tower that would occupy 300,000 square feet of office space, according to The News & Observer. The block owned by the company is also bordered by Hillsborough, Harrington, Dawson and Morgan streets, with properties that are also owned by The Fallon Company.
In December 2018, Pendo announced that they are looking to add 590 jobs to the Raleigh location within the next year, and according to a statement by Todd Olson, CEO and co-founder of Pendo, the property is meant to foster this long-term goal.
*Editor's Note: This article was updated for clarity and the photo has been updated for accuracy.