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CBRE Brokers $20.7M Sale of Fully Leased Raleigh-Durham Medical Office
CBRE announced the $20.7 million sale of a three-story 60,192-square-foot medical office building in Durham, NC. The Class A facility at 4709 Creekstone Drive is fully leased to Duke Health Integrated Practice, a subsidiary of Duke University Health System. A long-term lease extension was recently signed.
Lee Asher, Zack Holderman, Jordan Selbiger, Trent Jemmett and Cole Reethof of CBRE’s U.S. Healthcare & Life Sciences Capital Markets practice; Ben Kilgore of CBRE | Raleigh; and Patrick Gildea and Matt Smith of CBRE in Charlotte represented the seller, Highwoods Properties. The buyer was undisclosed.
“CBRE was able to leverage the mission critical nature of the location and credit of the tenant during a banking crisis to create a deep buyer pool for a competitive bidding process,” said Mr. Asher, Vice Chairman with CBRE. This transaction is indicative of the market’s confidence in the stability of the healthcare real estate sector.”
- ◦Sale/Acquisition