Toshiba Global Commerce signs lease for space near RTP
Toshiba Global Commerce Solutions, the store checkout and operations technology business that IBM Corp. agreed last year to sell to Toshiba Tec, has signed a lease for nearly 82,000 square feet in Durham.
The company plans to house manufacturing, repair and assembly operations in the space, which is in a 340,000-square-foot Research Tri-Center South I building in Durham near the Research Triangle Park. That’s according to a news release from Cushman & Wakefield/Thalhimer, which handled lease negotiations for the property’s landlord.
Last year, Toshiba Tec and IBM announced a plan for Toshiba Tec to acquire the IBM business unit that designs, develops and markets point-of-sale retail solutions.
They set up a holding company majority-owned by Toshiba, with a plan for Toshiba Tec to make a series of payments to acquire full ownership.
In addition, Toshiba Tec and IBM also planned to enter into a multiyear agreement in which Toshiba Tec will join IBM's Smarter Commerce business partner program.
The newly formed business continued to be housed on the IBM campus off Cornwallis Road in the Research Triangle Park.
Renee Kiefer, a spokeswoman for Toshiba Global Commerce Solutions, said the company still has a presence on IBM’s campus.
“This new location is simply for expansion, as we needed specifically manufacturing, repair and assembly site for our point-of-sale solutions,” Kiefer said of the lease of the building in Durham.
Kiefer said Toshiba Global Commerce Solutions has about 1,200 employees globally. IBM still has a stake in the business, she said. The three-year agreement between the companies is on track.