130-ACRE RESEARCH TRI-CENTER TRADES HANDS

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DURHAM, N.C. — An affiliate of Northwood Investors LLC has acquired Research Tri-Center, an industrial park located in Durham. The 130-acre master-planned park is comprised of 10 buildings totaling approximately 1.5 million square feet of industrial space. The park is 88 percent leased to 26 tenants, including GlaxoSmithKline, UPS, FedEx Ground, Verizon and Parata Systems. Rob Cochran, David Finger, Tom Powers, Chris Norvell and Jim Allaire of Cassidy Turley's Capital Markets team represented the seller, an institutional fund managed by Grosvenor Investment Management, in the transaction. The acquisition price was not released.

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