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national   /   March 9, 2020

David Cohen
By: David Cohen

NC State Office Assets Trade for $80M

JLL has arranged the $80 million sale of two office assets totaling 175,444 square feet on the Centennial Campus of North Carolina State University in Raleigh.

The portfolio comprises the 104,998-square-foot Center for Technology & Innovation at 1010 Main Campus Dr. and the 70,446-square-foot Keystone Science Center at 1791 Varsity Dr. The campus is approximately two miles west of downtown Raleigh, and is home to more than 70 corporate, government and non-profit partners, more than 75 North Carolina State research centers, institutes, laboratories and department units and more than 600 residents. The assets are fully-leased to a creditworthy STEM roster of tenants, including State of North Carolina, Bandwidth and Cengage.

Ryan Clutter, Scott Humphrey, Chris Lingerfelt and Zack Drozda of JLL represented the seller, Keystone Corp., in the transaction. The buyer was not disclosed.

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David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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