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| 400 Regency Forest, Regency Park, Raleigh-Durham, NC |
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| Scot Humphrey |
CHARLOTTE, NC –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the $23 million sale of 400 Regency Forest, a
111,639-square-foot, Class A office property within Regency Park in
Raleigh-Durham.
The sale also included an adjacent 11.23-acre
development site that can potentially support up to 110,000 square feet of
additional office development.
HFF marketed the property
on behalf of the seller, Petrus Partners, Ltd., and procured the buyer, EPIC
Regency LLC.
400 Regency Forest is
situated on 8.51 acres within the Regency Park office park, which is surrounded
by the executive neighborhoods of Regency, MacGregor Downs, Lochmere and
Prestonwood Country Club.
This location, at the confluence of U.S.
Highways 1 and 64, provides tenants convenient regional access as well as
access to the local retail and entertainment amenity base in Cary.
Completed in 2000, 400
Regency Forest is 96.4 percent leased to tenants including Caterpillar, Inc.,
which operates its corporate headquarters for their Building and Construction
Products (BCP) division on site; Pentair, Inc. and Mediant Communications,
Inc.
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| Justin Good |
The HFF investment sales
team representing the seller was led by director Scot Humphrey, senior managing directors Ryan Clutter and Chris Norvell and managing director Justin Good.
“Class A office buildings
in desirable areas of Raleigh-Durham such as Regency Park continue to be highly
sought-after by investors looking to capitalize on the Research Triangle’s
strong fundamentals,” commented Humphrey.
“We continue to see more
and more institutional investors target Raleigh-Durham and the Carolinas
overall,” added Clutter. “We anticipate
this trend not only continuing, but gaining momentum in 2017 as the region continues
to outperform many of its peer markets.”
Petrus Partners Ltd., along with its
affiliate, Crown West Realty, LLC, is a vertically-integrated real estate and
real asset fund management and operating company founded in 1992. The Petrus-Crown West Group includes 50
professionals located in regional offices in New York, Denver, Phoenix, Tucson,
and Spokane, Washington.
Holliday Fenoglio Fowler,
L.P. acting by and through Holliday GP Corp, a North Carolina licensed real
estate broker.
For a complete copy of the company’s news release,
please contact:
Kristen Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax
617.338.2150 | www.hfflp.com
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