CapRidge Partners of Austin, founded in 2012, purchased the land and buildings at 2100, 2200, 3200 and 3800 Gateway Centre in June from Alidade Capital of Bloomﬁeld Hills, Michigan, which bought the properties in 2016 for just under $31 million, according to Wake County deed records.
Alidade Capital is a fund manager founded in 2010 and focused on value- added commercial real estate investments, mostly in secondary markets throughout the country.
The buyer, CapRidge Partners, was represented in the transaction by Jason Levine, the ﬁrm’s director of acquisitions and asset management.
The 307,140-square-foot Gateway Centre consists of one 3- story building and three single-story buildings. Located oﬀ Aviation Parkway, the Gateway Centre is near Interstate 40, Lake Crabtree County Park and Raleigh-Durham International Airport.
CapRidge describes the Gateway Centre as one of the submarket’s few remaining options that can cater to biopharma, research and development, tech and engineering users.
The 3-story oﬃce building that CapRidge bought at 2100 Gateway Centre, built in 2001, is located on 5.27 acres and is known as Gateway Centre South. The building has or soon will have about 31,000 square feet for lease, reports JLL (NYSE: JLL), the commercial real estate services company. When Alidade owned the property, the full- service rental rate was $24.50 per square foot.
Tenants include American Homes 4 Rent, CE Authority, d- wise, RegEd, Sequence (global headquarters), and a Walgreens district oﬃce.
The single-story building at 2200 Gateway Centre, built in 1987, is located on 12.95 acres and is known as Gateway Centre West. Of the 91,056 square feet, the building has more than 20,000 square feet ﬂex, research and development space to lease, JLL reports. When Alidade owned the property, the NNN rental rate was $17.95 per square foot.
Tenants include Doble Engineering, ESP Associates, Special Olympics NC and Syntive Solutions.
The single-story building at 3800 Gateway Centre, also built in 1987 and on the same 12.95 acres, is known as Gateway Centre East. JLL indicates that the full 72,385 square feet are leased.
Tenants include Cooper Electrical Construction Company, Homeﬁx Custom Remodeling, Protochips, Realo Specialty Care Pharmacy and RVP pet pharmacy.
The single-story building at 3200 Gateway Centre, built in 2001, is located on 9.48 acres and is known as Two Gateway Centre. Of its 70,481 square feet, the building has 56,983 square feet of ﬂex oﬃce space available for sublease, according to CapRidge.
Kleinfelder, headquartered in San Diego, is a tenant in the building. Among the former tenants is Sears, which left its 23,333 square feet in 2017. After Sears vacated the property, pharmaceutical services and analytics company TrialCard expanded into the building. TrialCard’s headquarters is located at 2250 Perimeter Park Dr. in Morrisville.
The most recent assessed value of the 27.7 acres of land and four buildings that were part of the $74 million deal is $41.34 million.