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| Sarah Holloway |
CAROLINAS – JLL Capital Markets has closed the sale of Landmark at North Hills, a 166,653-square-foot office building in Raleigh, North Carolina. The price was not disclosed.
JLL represented
the seller, BGO on behalf of an institutional investor. A joint venture between
Edgewater Ventures and Northridge Capital purchased the asset.
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| Patti Autry |
Landmark at North Hills consists of two five-story, brick buildings that are connected by a sky bridge and which feature recently renovated common areas and a technology enabled central courtyard.
The 84.3%-leased property has a diverse tenant base,
including firms in the software/tech, law, and financial services industries,
among others.
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| Landmark at North Hills consists of two five-story, brick buildings that are connected by a sky bridge in Raleigh, NC |
Positioned on seven acres at 4601 Six Forks Rd., Landmark at North Hills is part of the North Hills mixed-use district, Raleigh-Durham’s premier live-work-play environment.
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| Ryan Clutter |
The North Hills District offers a variety of multi-housing communities and retail, entertainment and dining options.
The JLL Capital Markets Investment Sales and Advisory
team representing the seller was led by Senior Managing Director Ryan
Clutter, Senior Director Daniel Flynn, Director CJ Liuzzo and
Associate Sarah Holloway.
JLL’s Raleigh agency leasing team of Dennis Hurley,
Hillman Duncan and Patti Autry has been awarded the leasing assignment.
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| Daniel Flynn |
“The Landmark at North Hills was highly sought after by
investors given it’s positioning as a ‘lifestyle office’ building, with direct
proximity to excellent retail amenities and coveted residential neighborhoods,”
added Flynn.
“We have taken a patient approach to growing our office
portfolio in the post-pandemic environment, however, given the reset in pricing
for office properties along with incremental improvements in fundamentals we
remain bullish over the long term with regards to well-located office
properties in the Carolinas” commented Scot Humphrey, Co-Founder and
Principal with Edgewater Ventures.
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| Scot Humphrey |
“We are big believers in the region, local demand
drivers, and our ability to upgrade the user experience via curated capital
improvements and our hands-on, hospitality-oriented asset management.”
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
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| CJ Liuzzo |
The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news,
videos and research resources, please visit JLL’s newsroom.
About BGO
BGO is a leading, global real estate investment management advisor, real estate lender, and a globally recognized provider of real estate services.
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| Dennis Hurley |
BGO has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.
BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
About Edgewater Ventures
Edgewater Ventures is a real estate investment firm that is dedicated to acquiring and developing industrial, office, life-science, residential, and mixed-use assets across the Carolinas.
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| Hillman Duncan |
Our strong emphasis on collaboration and corporate culture has resulted in consistently exceptional results.
Our team members have spent their careers honing their expertise and developing a deep understanding of the unique dynamics of the real estate market in the Carolinas.
Our passion for the industry and dedication to our clients and partners has enabled Edgewater Ventures to consistently achieve impressive results.
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| Tim Skender |
About Northridge Capital
Northridge Capital, LLC, based in Washington, D.C., is an independent real estate asset management firm that has invested in 62 assets on behalf of investors, with a combined acquisition value of $2.49 billion.
Since its founding in 1997, the company has focused on generating superior
risk-adjusted returns for international high net-worth individuals and
institutions. It acquires, manages and sells real estate assets across a wide
variety of property types and geographic areas.
Contact:
Kristen Murphy
Director, Public Relations
JLL
One Post Office Square, Suite 1100
Boston, MA 02109
617-543-4873
northridgecapital.com.
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