 |
| Sarah Holloway |
 |
| Midtown Plaza, a 329,747-square-foot, 12-story office building in Raleigh, NC |
JLL marketed the property on behalf of the seller,
Lionstone Investments, working on behalf of an institutional investor.
Completed in 2017, Midtown Plaza is a
329,747-square-foot, 12-story office building that is fully leased. The
property features a diverse and stable rent roll, boasting esteemed tenants
such as Altera, Gilead Sciences and Fifth Third Bank, contributing to a
weighted average lease term of six years.
 |
| Ryan Clutter |
The
property benefits from its proximity to a thriving neighborhood filled with
high-end restaurants, shops, fitness centers, and a large concentration of
multifamily and residential units.
With
an office occupancy rate of 98.5%, tenants have been clamouring to get into the
burgeoning North Hills market for years, making it the Triangle’s most
desirable office address.
The JLL Capital Markets Investment Sales and Advisory
team representing the seller was led by Senior Managing Directors Ryan
Clutter and Richard Reid, Senior Director Daniel Flynn,
Director CJ Liuzzo and Associates Sarah Holloway and Woody
Flythe.
 |
| Richard Reid |
“This transaction is further evidence that highly amenitized,
experiential office assets are still experiencing robust demand from real
estate investors,” added Flynn.
JLL’s
Capital Markets group is a full-service global provider of capital solutions
for real estate investors and occupiers.
The group’s in-depth local market and global investor
knowledge delivers the best-in-class solutions for clients — whether investment
sales and advisory, debt advisory, equity advisory or a recapitalization.
 |
| Daniel Flynn |
For
more news, videos and research resources, please visit JLL’s newsroom.
CONTACT:
Kristen Murphy
Director,
Public Relations, Americas
JLL
One
Post Office Square, Suite 1100
Boston,
MA 02109
T
+1 617 848 1572
M
+1 617 543 4873
