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| Valerie Derrick |
CHARLOTTE, NC, Dec. 1, 2020 – JLL Capital Markets announced today that it has closed the sale of Southport Business Park, a 17-building life science conversion opportunity located in the Raleigh-Durham, North Carolina market.
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| Patrick Nally |
JLL represented the seller, GID. A joint venture between funds affiliated with Starwood Capital Group and Trinity Capital Advisors purchased the asset.
Southport Business Park is a 911,702-square-foot, light
industrial/flex park situated at the center of the Raleigh-Durham market.
Already
with a significant existing lab footprint, the park sets up well for further
conversion to life science in the Raleigh-Durham market, which is consistently
ranked as a Top 5 Life Science Cluster in the United States.
Additionally, the property is positioned just
minutes away from Raleigh-Durham’s Research Triangle Park, the largest
dedicated scientific research park in the country.
The Raleigh-Durham market has been experiencing a
significant influx of life science users, with lab renters more than doubling
over the last decade.
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| Ryan Clutter |
Spin offs from the three Tier 1 research universities in the region, organic growth of existing users and an unprecedented number of life science relocations continues to secure Raleigh-Durham’s position as one of the top real estate markets in the nation.
The JLL Capital Markets team representing the seller was led
by Senior Director Patrick Nally, Senior Managing Director Ryan
Clutter and Associate Valerie Derrick.
“On behalf of GID, we’d like to congratulate JLL on
marshaling an intense marketing and due diligence process leading to a successful
closing within a very tight timeframe,” says Gary Kroll and Rich
Sullivan of GID.
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
 |
| Gary Kroll |
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment sales advisory, debt
placement, equity placement or a recapitalization.
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For more news, videos and research resources on JLL, please
visit our newsroom.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
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| Richard G. (Rich) Sullivan |
JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020.
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
CONTACT:
Natalie
Passarelli
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
M +1 224 477 7307
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