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Durham Office Property Trades for $37M

JLL has arranged the $36.8 million sale of Innovation I, a 139,163-square-foot, Class A office building in Durham, N.C.

Built in 2020, Innovation I offers four stories of office space that is 74% leased and anchored by Biogen. On-site amenities include a cafeteria, electric car charging stations and walking/jogging trails throughout the park. Innovation I is located at 831 Slater Road within Imperial Center Business Park, a 450-acre business park with retail, restaurants, hotels, office space, industrial, flex and medical office space in the Research Triangle.

John Mikels, Chris Lingerfelt, Daniel Flynn, Ryan Clutter and Patrick Nally of JLL represented the seller, Scannell Properties, in the transaction. The buyer was Northridge Capital.


Inside The Story

JLL’s Mikels Northridge Capital

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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