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| 3508 North Tri-Center Boulevard Warehouse, Durham, NC |
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| Travis Andeerson |
CHARLOTTE, NC –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured $7.43 million in financing
for 3508 North Tri-Center Boulevard,
a 272,396-square-foot industrial warehouse building in Durham, North
Carolina.
HFF worked on behalf of
the borrower, a partnership between Trinity Capital Advisors and SilverCap
Partners, to place the floating-rate loan with AloStar Bank of Commerce. Loan
proceeds were used to acquire the property and fund capital improvements to execute
the borrower’s business plan.
Located west of Research
Triangle Park, 3508 North Tri-Center Boulevard is in the RTP/I-40 submarket,
the largest industrial submarket in Raleigh-Durham. The property is situated just off Highway 55
with access to Interstates 40 and 540, Highway 147 and Raleigh-Durham
International Airport.
The warehouse features
ESFR sprinkler systems, 180’ truck court depth, 4,500 square feet of office
space, 26 cushioned dock-high loading doors and one 14’ wide drive-in-door with
the potential to add four additional docks.
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| Cory Fowler |
The HFF debt placement
team representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler.
“Tenant demand continues
to grow in the tightening RTP/I-40 submarket, which now boasts an occupancy
north of 95 percent,” Fowler said. “Given the ideal location and the
partnership’s strategic business plan, the property is positioned well to
benefit from the continued demand.”
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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