JLL Brokers Sale of 912K-SF Flex Park in Raleigh-Durham
JLL has arranged the sale of Southport Business Park, a 17-building industrial/flex park in Raleigh-Durham. The sales price was not disclosed.
The property is a 911,702-square-foot, light industrial/flex park situated at the center of the Raleigh-Durham market. Already with a significant existing lab footprint, the park is set up for further conversion to life science in the Raleigh-Durham market, which is consistently ranked as a top Life Science Cluster in the United States. The property is also nearby Raleigh-Durham’s Research Triangle Park, one of the largest dedicated scientific research parks in the country.
Patrick Nally, Ryan Clutter and Valerie Derrick of JLL represented the seller, GID, in the transaction. The buyer was a joint venture between funds affiliated with Starwood Capital Group and Trinity Capital Advisors.
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.