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National  + North Carolina  + Office  |  January 12, 2020
Raleigh-Durham is one of six top U.S. tech office markets to have experienced positive absorption in the past two years
David Cohen
By: David Cohen

Bridge Investment Group Snags 330K-SF Office Portfolio in Raleigh

Bridge Investment Group has acquired a 330,008-square-foot, two-property office portfolio in Metro Raleigh for an undisclosed price.

The properties consist of Capital Center, a seven-story, 161,310-square-foot office building in West Raleigh, and Somerset Corporate Center, a 168,310-square-foot, two-building office property in the Six Forks Falls of Neuse submarket. Capital Center is currently 93% occupied by a tenant roster that includes Plexus Services Corporation, K4Connect Inc., MyComputerCareers.com and Certara USA. Somerset Corporate Center is currently 90% leased to a tenant roster that include KCI Technologies, Inc., TowneBank Mortgage, Care Services, LLC. and Select Bank & Trust Company.

Bridge plans to invest an additional $5.5 million to improve both properties as part of a value-add strategy. Ryan Clutter and Scot Humphrey of JLL represented the undisclosed seller in the transaction.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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