HFF announces $31.4 million sale of four office buildings within Imperial Center in Durham, NC

HFF brokered the sale of four office properties in Durham, NC.
They were Chelsea Place and Oxford Place (both shown above), 
Cambridge Hall and Canterbury Hall.

Kreg Groat

CHARLOTTE, NC –– HFF announced the sale of four office properties in Durham, North Carolina, totaling $31.4 million within two separate transactions to OA Development (OA). 

 The properties are Chelsea Place, Oxford Place, Cambridge Hall and Canterbury Hall.

Chelsea Place and Oxford Place were marketed by the HFF team.  Kreg Groat, Chief Executive Officer of Crown Realty & Development managed the transaction on behalf of the seller and the two assets were sold to OA for $17.3 million. 

Scott Humphrey

Cambridge and Canterbury Hall were purchased by OA from the seller, Bridge Investment Group, who was also represented by HFF.

All four properties are located in the RTP/I-40 submarket of Raleigh-Durham within Imperial Center, the area’s premier business park that has more than four million square feet of mixed-use space on 465 landscaped acres. 

The park offers a market leading amenity package, including various dining options, multiple retail destinations, four name brand hotels and a host of health and fitness amenities. 

 This location offers convenient access to Interstates 40 and 540, the area’s two primary transportation nodes, connecting the property to Raleigh’s primary residential communities, Raleigh-Durham International Airport and Research Triangle Park.

Ryan Clutter

Chelsea Place and Oxford Place are located at 1007 and 1005 Slater Road and total 121,511 square feet in two Class A office buildings. 

 Recently renovated, the properties are 86.5 percent leased to STEM and healthcare tenants, including Principled Technologies, Inc.; Gordon Asset Management, LLC and Social & Scientific Systems, Inc.

Cambridge Hall and Canterbury Hall are located at 4813 and 4815 Emperor Boulevard.  The twin three-story buildings total 89,797 square feet and are fully leased to tenants such as ThermoFisher Scientific and McKesson Corporation.

The HFF investment advisory team representing the sellers consisted of senior director Scot Humphrey, senior managing director Ryan Clutter and director Christopher Lingerfelt. 

Christopher Lingerfelt

Crown Realty & Development was established in 1994 by Robert Flaxman and Jamie Sohacheski to apply intelligent real estate strategies with determined and reliable execution. 

 The firm is headquartered in Costa Mesa, California and with offices in Beverly Hills and Paradise Valley, Arizona

Holliday GP Corp. ("HFF") is a North Carolina licensed real estate broker.

For more information, please contact:

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

www.bridgeig.com.

www.OADevelopment.com