In January, flyExclusive (NYSE: FLYX) announced it would grow its Raleigh corporate office to roughly 125 employees by June 2026, a net add of about 95 jobs. The lease at One North Hills Tower isn’t a headline factory announcement, but it’s the kind of quiet move that, over time, strengthens the demand environment around the markets we operate in.
The Announcement
flyExclusive is a top-five U.S. private jet operator with the world’s largest fleet of Cessna Citation aircraft. The company is vertically integrated across charter, Jet Club, fractional ownership, and an in-house maintenance, repair, and overhaul (MRO) business. Corporate headquarters remain in Kinston, in Lenoir County. Raleigh becomes a second corporate office, not a relocation.
By the numbers:
- ~30 employees in Raleigh today; ~50 in temporary space by February 2026; ~125 in the permanent One North Hills office by June 2026, a net add of ~95 corporate jobs
- Industry: private aviation services (charter, fractional, MRO); publicly traded as NYSE: FLYX
- Site: One North Hills Tower in Raleigh’s North Hills mixed-use district, about 1 hour 15 minutes from Kinston HQ
- Parallel Kinston buildout at the NC Global TransPark: pilot simulator training center, 121,000-square-foot maintenance hangar, and a second paint booth under evaluation
Who’s involved:
- flyExclusive (corporate tenant; NYSE: FLYX)
- Kane Realty Corporation (One North Hills owner and Midtown Raleigh developer)
- NC Global TransPark Authority (Kinston operational base)
The Local Story: Where North Hills Sits in the Triangle
North Hills is the kind of submarket where a corporate lease like this gets absorbed without anyone noticing. Anchored by Kane Realty’s twenty-plus-year Midtown buildout, it sits inside the I-440 Beltline, fifteen minutes from downtown Raleigh and twenty from RDU, with a workforce shed that runs through Cary, Apex, Morrisville, Wake Forest, and Durham. flyExclusive isn’t bringing white-collar density to North Hills; it’s buying into density that’s already there.
What makes the location work:
- One North Hills Tower is one of Raleigh’s premier Class-A office addresses, leasing here is a recruiting statement
- Wake County added population at one of the fastest paces of any U.S. county between 2020 and 2024 (U.S. Census Bureau)
- Talent draws from RDU’s flight network, NC State, Duke, UNC Chapel Hill, and a Triangle tech corridor that has been densifying since the early 2010s
- Kinston retains the operational, capital-intensive side (maintenance, paint, avionics, pilot training), anchoring Lenoir County jobs
How This Affects Housing and Retail Demand
Announcements like flyExclusive’s matter because they kick off a predictable sequence:
- New jobs draw new workers
- New workers form new households — most rent first
- Households need housing within a reasonable commute
- Households need day-to-day services nearby: grocery, medical, fitness, restaurants, daycare
- Workforce housing demand rises; neighborhood-serving retail rises with it
- New development follows; new jobs follow that
The Triangle has been running this cycle longer and louder than most U.S. metros. Ninety-five corporate jobs don’t move it on their own — they don’t have to. The cumulative effect, announcement by announcement, is the structural strength we underwrite to.
Where the ripple lands:
- North Hills / Midtown Raleigh, daytime population, lunch-and-after-work spend, neighborhood-serving retail
- Inside-the-Beltline and North Raleigh, the rental and condo submarkets a new corporate hire considers first
- The Triangle commuter shed, Cary, Apex, Morrisville, Wake Forest, Durham, Holly Springs
- Kinston and Lenoir County, the parallel hangar, simulator, and paint-booth investment is the eastern-NC end of the same story
For investors looking for steady cash flow, capital preservation, and anchor-employer durability, the Triangle’s demand stack just got another multi-year leg.
Sources
- flyExclusive Investor Relations press release
- Business Wire
- Business North Carolina
- U.S. Census Bureau, Wake County QuickFacts
Win Coleman, CCIM, is a graduate of East Carolina University where he received his bachelor’s degree in finance. He holds both North Carolina and South Carolina Real Estate Licenses and was awarded the prestigious CCIM (Certified Commercial Investment Member) designation in 2008.
Win served on the board of directors of The Triangle Apartment Association (TAA) where he co-chaired The Independent Rental Owner’s Council (IROC). He is a member of the International Council of Shopping Centers (ICSC), the Triangle Commercial Association of Realtors (TCAR) and the Raleigh Kiwanis Club.
While a specialist in site identification, evaluation and acquisition for investors and businesses, he also has extensive experience in brokerage, leasing, property management and investment sales.
Win assists in managing The Coleman Group, LLC, which owns a portfolio of investment properties, and he is a member of our acquisitions committee. He has lifelong experience and love for historic properties including the one he restored and where he resides in Historic Oakwood in Downtown Raleigh.