Pair of North Carolina Offices Nabbed for $69M

Crescent Lakeside I and II, two Class A office buildings totaling 254,796 square feet in Raleigh’s submarket of Cary, NC, have traded hands for $69 million. The buyer was New York-based HLM Realty LLC, while the seller was Crescent Lakeside LLC.

The properties are located at 1225 and 1255 Crescent Green Dr., within The Crescent, one of the Triangle region’s top mixed-use parks. The properties were developed by Capital Associates in partnership with Boddie-Noell Enterprises, as well as The Crescent business park.

Situated at the confluence of the U.S. Route 1 and 64 interchange, the buildings were completed in 2001 and 2009 respectively. The three-story Crescent Lakeside I and the four-story Crescent Lakeside II are 98.9% occupied.

HFF’s Scot Humphrey, Ryan Clutter, Chris Lingerfelt and Zack Drozda teamed up with Capital Associates Management’s Frank Baird to represent the seller.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Pair of North Carolina Offices Nabbed for $69M

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Pair of North Carolina Offices Nabbed for $69M

Inside The Story

About Dennis Kaiser