Saturday, July 23, 2016

HFF closes $23.5 million sale of Class A office building in Raleigh-Durham, NC

Trinity Place, 1201 Edwards Mill Road, West Raleigh submarket of Raleigh-Durham, NC

Ryan Clutter
 CHARLOTTE, NC  – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $23.5 million sale of Trinity Place, a four-story, 114,547-square-foot, Class A office property located in the West Raleigh submarket of Raleigh-Durham, North Carolina.

HFF marketed the property on behalf of the seller, an institutional fund manager, and procured the buyer, Origin Investments. 

Trinity Place is located at 1201 Edwards Mill Road about one mile from Interstate 40, a primary artery connecting the property to the affluent neighborhoods of West Raleigh and RDU International Airport. 

The property is adjacent to Carter-Finley Stadium and the PNC Arena, home to the Carolina Hurricanes NHL hockey team and the North Carolina State University basketball team.

 Additionally, more than five million square feet of retail amenities are within a three mile radius of Trinity Place.  Tenants at the fully-leased property include RSM McGladrey, the public relations firm Capstrat and the IT services firm TekSystems.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey, managing director Ralph Smalley and associate director Christopher Lingerfelt.

Scot Humphrey
“Trinity Place was very well received by the marketplace demonstrating the strength and appeal of the Raleigh office market to institutional investors yet again,” said Clutter.  

“We believe we will continue to see strong interest in our Raleigh offerings through the remainder of the year and into 2017.”

“One of the reasons this property really stood out among investors is that Trinity Place features several examples of creative space designed to attract millennials,” added Humphrey.  

“We have found that creative space in suburban office buildings tends to heighten interest and that’s a trend that’s likely to continue in the years ahead.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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