Sunday, December 25, 2016

HFF closes $23 million sale of institutional-quality office property and land site within Regency Park in Raleigh-Durham, NC

400 Regency Forest, Regency Park, Raleigh-Durham, NC

Scot Humphrey
CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $23 million sale of 400 Regency Forest, a 111,639-square-foot, Class A office property within Regency Park in Raleigh-Durham.

 The sale also included an adjacent 11.23-acre development site that can potentially support up to 110,000 square feet of additional office development.

HFF marketed the property on behalf of the seller, Petrus Partners, Ltd., and procured the buyer, EPIC Regency LLC. 

400 Regency Forest is situated on 8.51 acres within the Regency Park office park, which is surrounded by the executive neighborhoods of Regency, MacGregor Downs, Lochmere and Prestonwood Country Club.

 This location, at the confluence of U.S. Highways 1 and 64, provides tenants convenient regional access as well as access to the local retail and entertainment amenity base in Cary. 

Completed in 2000, 400 Regency Forest is 96.4 percent leased to tenants including Caterpillar, Inc., which operates its corporate headquarters for their Building and Construction Products (BCP) division on site; Pentair, Inc. and Mediant Communications, Inc.  

Justin Good
The HFF investment sales team representing the seller was led by director Scot Humphrey, senior managing directors Ryan Clutter and Chris Norvell and managing director Justin Good.

“Class A office buildings in desirable areas of Raleigh-Durham such as Regency Park continue to be highly sought-after by investors looking to capitalize on the Research Triangle’s strong fundamentals,” commented Humphrey.

“We continue to see more and more institutional investors target Raleigh-Durham and the Carolinas overall,” added Clutter.  “We anticipate this trend not only continuing, but gaining momentum in 2017 as the region continues to outperform many of its peer markets.”

 Petrus Partners Ltd., along with its affiliate, Crown West Realty, LLC, is a vertically-integrated real estate and real asset fund management and operating company founded in 1992.  The Petrus-Crown West Group includes 50 professionals located in regional offices in New York, Denver, Phoenix, Tucson, and Spokane, Washington.

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a North Carolina licensed real estate broker.

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

Kristen Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax 617.338.2150 |

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