RALEIGH, NC, February 20, 2017 – Cushman & Wakefield announced today that it has negotiated the sale of Carlisle Place, Cambridge Hall, Canterbury Hall and Stratford Hall – a four building portfolio located within the Imperial Center Office Park in Durham, NC. The sales price was not disclosed.
Cushman & Wakefield’s multi-market team led by Vice Chairman Paul Collins of Washington, DC and Managing Director David Finger and Director Sara Owen of Raleigh-Durham, NC represented the seller, Principal Real Estate Investors, in the transaction. Fairlead Commercial Real Estate, a specialist commercial real estate operating company headquartered in Atlanta, GA and Salt Lake, UT, acquired the portfolio, which together comprise four office buildings totaling 286,989 square feet. The Class A office buildings are 84% leased to a diverse mix of 19 tenants belonging to high-growth industries and technology sectors.
“With an unparalleled location, ideal tenancy, and abundance of amenities, the rare opportunity to acquire these four, Class A Imperial Center buildings drew tremendous interest from both regional and national investors,” Collins said. “These exceptional properties offer great brand recognition in the region.”
Finger added, “The Imperial Center portfolio provides an outstanding opportunity for Fairlead Commercial Real Estate,” he noted. “They are now the second-largest landlord within the market’s most recognized and sought after office park.’”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.