Crescent Communities Acquires 133,368 SF SouthCourt Office Property in Durham
DURHAM, N.C. — Crescent Communities has acquired SouthCourt, a 133,368-square-foot, Class A office property in Durham. John Mikels, Daniel Flynn, Ryan Clutter and Chris Lingerfelt of JLL Capital Markets represented the undisclosed seller. The sales price was also not disclosed.
Built in 1998, the six-story SouthCourt office property was 75.4 percent leased at the time of sale to a variety of tenants, including publicly traded international firms, expanding regional companies and local businesses in the healthcare, financial services, life sciences and legal industries.
Located at 3211 Shannon Road, SouthCourt is situated 4.1 miles from downtown Durham and 7.6 miles from Chapel Hill. In addition, SouthCourt is close to Duke University, University of North Carolina at Chapel Hill and Research Triangle Park, as well as the Interstate 40.