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| The Station at East 54 office building, Chapel Hill, NC |
CHARLOTTE, NC –– HFF announces the $19.925 million
sale of The Station at East 54, a newly constructed, Class A office building
totaling 47,856 square feet in Chapel Hill, North Carolina.
The HFF team represented the seller, a joint venture between East West
Partners Management Company of NC and Northridge Capital, and procured the
buyer, Durham, North Carolina-based Mattie Equity, LLC.
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| Ryan Clutter |
Completed in 2018, The Station at East 54 is a state-of-the-art office
asset that is fully leased to two tenants, including Spaces, a subsidiary of
Regus that provides creative and flexible co-working spaces, and TrueBridge
Capital Partners.
The Class A property is located within two miles of the
University of North Carolina at Chapel Hill and features floor-to-ceiling
windows with sweeping views of the UNC Finley Golf Course, ultra-modern
interior finishes, creative meeting spaces, smart conference rooms, modern
employee lounges and an attached two-story parking deck.
The building is
adjacent to the walkable East 54 mixed-use urban development that features
numerous street-level dining and retail offerings, offices, top-tier
multi-housing units, a 130-room Aloft Hotel and luxury residential
condominiums.
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| Scot Humphrey |
Additionally, The Station at East 54 is located along the
Highway 54 corridor that connects Chapel Hill and Research Triangle Park,
offering tenants and visitors unmatched accessibility to North Carolina’s
flourishing “Triangle” region.
The HFF investment advisory team representing the seller consisted of
managing director Scot Humphrey, senior managing director Ryan Clutter, senior
director Chris Lingerfelt and director Zack Drozda.
“Ultra-modern jewel box office buildings like The Station at East 54 are
highly coveted by investors and incredibly challenging to find in today’s
market,” Humphrey commented.
“This is especially true in Raleigh-Durham, where
overall investor interest is off the charts due to a collective belief in the
market’s ability to grow at an outsized clip over the foreseeable
future.”
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| Chris Lingerfelt |
Holliday GP
Corp. ("HFF") is a North Carolina licensed real estate broker.
Headquartered
in Chapel Hill, North Carolina, East West Partners has been developing
innovative communities in major markets, including the Research Triangle and
Charlotte.
Founded in
1997 as a private asset manager for a prominent regional family group,
Northridge Capital is an independent, private investment advisor and asset
manager dedicated to providing a high level of personalized service for its
clients.
Since 2002, Northridge has expanded its activities to include
operating as an independent, third-party investment advisor and asset manager
on behalf of multiple American and Middle Eastern investors, including High Net
Worth (HNW) individuals, families, and institutions.
Northridge Capital has a
national geographic footprint historically and currently focuses on Washington
D.C., Texas, and the Southeast including Raleigh/ Durham (NC), Charlotte (NC),
Nashville (TN), Atlanta (GA), Richmond (VA), Charleston (SC), and Central and
Southeast Florida.
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| Zack Drozda |
HFF and its affiliates operate
out of 26 offices and are a leading provider of commercial real estate and
capital markets services to the global commercial real estate industry.
HFF, together with its affiliates, offers clients a fully integrated capital
markets platform, including debt placement, investment advisory, equity
placement, funds marketing, M&A and corporate advisory, loan sales and loan
servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF
Securities Limited are owned by HFF, Inc. (NYSE: HF).
CONTACTS:
RYAN CLUTTER
NC Lic. #172952
HFF Senior Managing Director
(704) 526-2800
KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
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