Blogs

newsobserver.com blogs

Duke Realty acquires two Durham industrial properties for $30.4 million

Duke Realty, which last month paide $31 million for the Greenfield North business park in Garner, has acquired two other industrial properties in Durham.

Duke paid $30.4 million for the CenterPoint I and CenterPoint II buildings on T.W. Alexander Drive.

CenterPoint I, a 324,536-square-foot distribution facility, was bought for $17.5 million from Petrus Partners/Crown West Realty.

It's leased to two medical equipment companies, Teleflex Inc. and Medline Industries.

CenterPoint II, a 230,580-square-foot distribution building, was bought for $12,912,000 from the Keith Corp.

Chris Norvell, Rob Cochran and David Finger of Cassidy Turley represent the sellers in both CenterPoint transactions.

The purchases are part of Duke's ongoing strategy of shifting its focus from office to industrial properties.

NY firm pays $21 million for Durham's Implus Building

A New York real estate firm has paid $21 million for the Implus Building, a 309,000-square-foot industrial property near Research Triangle Park in Durham.

Broadstone Real Estate of Rochester was the buyer.

The seller was The Keith Corporation, which built the property at 2001 T.W. Alexander Drive in 2009.

Chris Norvell, Rob Cochran and David Finger of Cassidy Turley represented Keith in the transaction.

The property is the headquarters and global distribution hub for Implus Footcare. The company's current lease runs through August 2024.

Crown Realty adds to Imperial Center portfolio

After selling a distribution facility last fall, Crown Realty and Development has added to its portfolio in the Imperial Center business park near Research Triangle Park.

The Irvine, Calif. company paid $7.475 million for a 182,000-square-foot warehouse at 4400 Emperor Boulevard. The property is fully leased to Phoenix Telecom Solutions, which moved in in March.

The space was previously occupied by Flextronics.

The seller was Meridian Development Group of Clearwater, Fla. Meridian bought the property in May 2007 for $6.2 million.

In December 2007, Crown Realty paid about $115 million for 13 office and industrial buildings at Imperial Center business park, off Interstate 40 at Page Road.

Last fall, Crown Realty sold one of those properties -- the Essex Center, a 450,000-square-foot distribution center -- to data storage company EMC for $22.6 million.

Cars View All
Find a Car
Go
Jobs View All
Find a Job
Go
Homes View All
Find a Home
Go

Want to post a comment?

In order to join the conversation, you must be a member of newsobserver.com. Click here to register or to log in.
Advertisements