IXL Learning Further Expands its East Coast Footprint at Perimeter Park

Morrisville, NC – April 22, 2024 — IXL Learning, educational technology pioneer, has further expanded its regional presence in Perimeter Park, leasing an additional 22,309 square feet to fully occupy 1600 Perimeter, a four-story, 90,089-square-foot Class-A office building. This marks the company's fifth expansion since establishing its East Coast headquarters at the 1500 Perimeter building in 2016, with an initial footprint of 17,000 square feet.

William Allen, Managing Partner and Alex Dunn, Director, Office Leasing at Trinity Partners, represented the landlord, Perimeter Park Offices, LP. (Mapletree), under Mapletree US Income Commercial Trust, Andrew Peceimer of Coldwell Banker Commercial Westbay Real Estate and Brian Farmer of Lee and Associates represented IXL Learning, Inc.

“After two consecutive expansions at 1500 Perimeter, Mapletree, the landlord, recognized IXL Learning's potential and growth trajectory. To accommodate this exponential growth and solidify IXL's position as the firm's east coast headquarters at the Park, Mapletree facilitated an early move to 1600 Perimeter. Alex Dunn said, "The IXL model serves as a testament to Mapletree's proactive approach to providing an environment where tenants can thrive and grow.

"Paul Mishkin, CEO of IXL Learning previously stated “We are excited to expand IXL Learning’s regional headquarters in Perimeter Park once again. The additional space will accommodate the pace of our company’s growth and will serve as a convenient location for people to closely collaborate and do their finest work. We look forward to becoming a bigger part of the Research Triangle community where we will continue building world-class products and serve our customers for years to come."

Respected corporate neighbors, relevant and convenient amenities, above standard parking, and an environment that allows tenants to attract and retain top talent truly resonates with high-profile companies. In addition to IXL Learning, Microsoft, UNC Health Care, Mercalis, Syneos Health, Premier Research, Northrop Grumman, and Teleflex also call Perimeter Park home.

“We value our strong and consistent relationships with our tenants," said Ben Goodsir, Head of US Commercial, Mapletree. "This focus on flexibility allows us to meet their evolving needs. We anticipate pent-up demand driving increased occupancy rates in the RTP I-40 corridor submarket. Despite the current business climate, we remain committed to providing adaptable, high-quality solutions for our tenants."

Perimeter Park, located in Morrisville is just minutes from the Raleigh-Durham International Airport and strategically positioned off I-540 and I-40, bordering Airport Boulevard and Highway 54. The Park continues to evolve through improvements and expansions that include Food Truck Tuesdays, tenant engagement events, the addition of a modern fitness center with locker rooms and showers (second within the Park), Wi-Fi equipped tenant café & lounge, an expansive conference center amenity, and a large pocket park that includes bocce and a putting green. Additionally, five new office buildings have been constructed and added to the Park over the past 6 years due to the high demand of Class A office space in the heart of the Research Triangle. Learn more about Perimeter Park at PerimeterParkOffice.com

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About Mapletree

Headquartered in Singapore, Mapletree is a global real estate development, investment, capital and property management company committed to sustainability. Its strategic focus is to invest in markets and real estate sectors with good growth potential. By combining its key strengths, the Group has established a track record of award-winning projects and delivers consistent and high returns across real estate asset classes. The Group manages three Singapore-listed real estate investment trusts (“REITs”) and six private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, Europe, the United Kingdom (“UK”) and the United States (“US”). As at 31 March 2022, Mapletree owns and manages $59.6 billion of office, retail, logistics, industrial, data centre, residential and student accommodation properties. The Group’s assets are located across 13 markets globally, namely Singapore, Australia, Canada, China, Europe, Hong Kong SAR, India, Japan, Malaysia, South Korea, the UK, the US and Vietnam. To support its global operations, Mapletree has established an extensive network of offices in these countries. For more information, please visit mapletree.com.sg.

About Trinity Partners

Trinity Partners is a full-service commercial real estate firm serving corporate users and institutional owners throughout the United States, with service lines ranging from landlord representation, occupier services, and investment sales to property management, construction, and project management. They are known for their entrepreneurial spirit, best-in-class performance, and respected team of commercial real estate professionals, who are directly responsible for the company’s success and collaborative culture. The firm currently leases and/or manages over 31 million square feet of office, industrial, life science, mixed-use, and retail space across the region through their four offices in Charlotte and Raleigh, North Carolina, and Columbia and Greenville, South Carolina. www.trinity-partners.com

About IXL Learning
IXL Learning has revolutionized educational technology since its founding in 1998. Today, the company leads the world of education through innovation and provides a diverse set of products and services that help learners develop skills in math, literacy, language and more. IXL Learning's eight brands—IXL, Rosetta Stone, Curiosity Media, Emmersion, Wyzant, Vocabulary.com, ABCya and Education.com—empower all students with engaging, personalized learning experiences. Our teams create breakthrough solutions to education's most pressing challenges and inspire students to become life-long learners.