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CBRE Investment Management Fund Purchases Class A Life Sciences Campus in Durham
CBRE Investment Management has acquired Park Point, a 662,607-square-foot life sciences campus in the Durham submarket of Morrisville, NC.
Located at 4001 NC Highway 54 within the Raleigh-Durham Research Triangle, the Class A property is aligned with the firm’s commitment to investing in life sciences assets as the demand for modern, responsive life sciences properties remains strong.
Park Point is a recently renovated adaptive reuse property comprised of five buildings in total on 95 acres. The campus features fitness center, cafe, indoor/outdoor common areas, athletic fields, walking trails, and conference and training center. Park Point also has new systems that reduce energy and water consumption and enhance indoor air quality.
The Research Triangle is home to over two million residents and 12 colleges and universities. The area has attracted close to $4 billion in funding from the National Institutes of Health in the last two years, as well as $900 million in venture capital in 2021.
- ◦Sale/Acquisition
