RALEIGH-DURHAM, NC, FEBRUARY 14, 2019 – Cushman & Wakefield is pleased to announce the sale of Legacy at Brier Creek – a 100% leased, Class A Office building located within Raleigh-Durham’s master-planned Brier Creek development. Legacy at Brier Creek was developed by Heritage Properties, Inc. and its joint venture partner Alex. Brown Realty, Inc. and delivered in December 2017. The four-story, 117,138 square foot building is anchored by Infosys – a testament to the Triangle’s continued growth as a strong tech market.
The seller was represented by Cushman & Wakefield’s Southeast Office Capital Markets Group. David Finger and Sara Owen of the Raleigh-Durham, NC office led the sales effort, along with David Meline and Samir Idris of Atlanta, GA. The property was sold to a member company of Zurich North America (Zurich), advised by Zurich Alternative Asset Management, LLC (ZAAM), its alternative investment adviser.
The ZAAM team was led by Roy Rosenbaum, director of Acquisitions, and Sean Bannon, managing director and head of U.S. Real Estate.
About Heritage Properties
Heritage Properties is a full service commercial real estate firm founded in 1986 as one of four companies of the Meridian Group. Since its inception, Heritage Properties has developed and/or acquired over 6,500,000 square feet of commercial real estate in the eastern United States and maintains a commitment to responsible land and commercial property development, strategic acquisitions, and sound management of high quality, well-located office properties, retail centers, and industrial workplaces.
About Alex. Brown Realty
Alex. Brown Realty, Inc. (ABR) is a privately-owned real estate investment manager organized in 1972 and headquartered in Baltimore, Maryland. ABR co-invests with joint venture partners in a broad spectrum of property types located throughout the United States. www.abrealty.com
About Zurich Alternative Asset Management
ZAAM is the alternative investment adviser to Zurich and its affiliates that is responsible for Zurich’s hedge fund, private equity and U.S. real estate investments. ZAAM runs a national core and core- plus acquisition program out of New York which targets office, retail, industrial and multi-family assets valued between $15 million and $100 million throughout 20 major markets in the United States. ZAAM currently manages approximately $2.3 billion of commercial real estate exposure in the Unites States for its various affiliated balance sheets.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.