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National  + North Carolina  + Office  | 

Pair of North Carolina Offices Nabbed for $69M

Crescent Lakeside I and II, two Class A office buildings totaling 254,796 square feet in Raleigh’s submarket of Cary, NC, have traded hands for $69 million. The buyer was New York-based HLM Realty LLC, while the seller was Crescent Lakeside LLC.

The properties are located at 1225 and 1255 Crescent Green Dr., within The Crescent, one of the Triangle region’s top mixed-use parks. The properties were developed by Capital Associates in partnership with Boddie-Noell Enterprises, as well as The Crescent business park.

Situated at the confluence of the U.S. Route 1 and 64 interchange, the buildings were completed in 2001 and 2009 respectively. The three-story Crescent Lakeside I and the four-story Crescent Lakeside II are 98.9% occupied.

HFF’s Scot Humphrey, Ryan Clutter, Chris Lingerfelt and Zack Drozda teamed up with Capital Associates Management’s Frank Baird to represent the seller.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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