CBRE Acquires Park Point Life Sciences Campus in Durham, North Carolina for $288M

Park Point is a 662,607 square-foot life sciences campus located in Research Triangle Park in Durham, North Carolina. CBRE Investment Management acquired the five-building, 95-acre campus for $288 million.

DURHAM, N.C. – CBRE Investment Management, on behalf of a separate account client, has acquired Park Point, a 662,607-square-foot life sciences campus located within Research Triangle Park in Durham. Although the seller and price were not disclosed, Triangle Business Journal reports that Starwood Capital sold the asset for $288 million.

Starwood, along with Trinity Capital and Vanderbilt, acquired Park Point in 2019 as a vacant, single-tenant industrial building, implementing a $190 million adaptive reuse project at the 95-acre site. The property now offers flexible space solutions for office, life sciences and manufacturing tenants.

Located at 4001 NC Highway 54, campus amenities include a fitness center, cafe, indoor/outdoor common areas, athletic fields, walking trails, 2,546 parking spaces and a conference and training center. Park Point also has new, efficient systems that reduce energy and water consumption and enhance indoor air quality. Electric vehicle charging stations are slated to be installed at the property.

“Today’s life sciences end-users have very specific and sophisticated needs for lab and research spaces,” said Sondra Wenger, head of Americas commercial operator division for CBRE Investment Management. “We believe that Park Point meets those needs and fits well with our investment strategy. This uniquely amenitized asset benefits from its location within Raleigh-Durham’s Research Triangle Park with solid economic fundamentals, a strong base of scientific talent, and proximity to leading education and medical institutions.”

Research Triangle Park is home to over two million residents and 12 colleges and universities that enroll more than 100,000 students. The area has attracted close to $4 billion in funding from the National Institutes of Health in the last two years, as well as $900 million in venture capital in 2021 alone.

— Kari Lloyd

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties