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| Trinity Place, 1201 Edwards Mill Road, West Raleigh submarket of Raleigh-Durham, NC |
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| 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.
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| 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 | www.hfflp.com
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