Atlanta & Southeast + Carolinas + Office | December 6, 2022

TriGate Capital has sold the Lakeridge North office building located Raleigh, NC for $17.3 million.

TriGate Capital Disposes of 72K-SF Raleigh Office Building for $17M

Dallas, TX-based TriGate Capital has sold Lakeridge North, a 72,218-square-foot office building located in Raleigh, NC, for $17.3 million.

Daniel Flynn, John Mikels, Ryan Clutter and Sarah Holloway of JLL represented TriGate Capital, a real estate investment manager that focuses on the recapitalization and repositioning of quality commercial real estate assets and companies. The buyer was a private investment fund represented by Richard Fisher of Hold Thyssen, Inc., and Michael Waldrop of Waldrop Properties, LLC.

“Opportunities such as this are highly sought after by real estate investors seeking stability and cash flow during a period of global economic headwinds,” said Flynn.

Lakeridge North sits on 5.12 acres and is a four-story, multi-tenant office building that is 93% leased to a tenant roster consisting of companies in finance, law, insurance, pharmaceuticals and more. The property was renovated in 2021 and features a new lobby, common areas, conference and training rooms and fitness center.

The property is positioned on a lakefront setting at 900 Ridgefield Drive within the Six Forks submarket.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.