Location: Raleigh, NC
Size: 161,480 Square Feet
Located in the West Raleigh submarket. The two properties were built by the same developer and share parking and ingress/egress. They were designed to be operated under a single owner, but were split apart in 2008. Reuniting the properties back under common ownership will lead to economies of scale and improved operating efficiencies. The buildings were purchased in separate transactions from two different owners in August 2016. The West Raleigh location and proximity to I-40 offer tenants numerous restaurant and shopping options within a ten minute drive of the buildings. Access to I-40 holds additional appeal to tenants living in Cary and older prestigious Wake County neighborhoods who prefer to office closer to their homes. The property was held for 24-months and sold at 96% occupancy to a regional development and investment firm.