by admin

DURHAM, N.C. — Massachusetts-based EMC Corp. has purchased Essex Center in Durham for $22.6 million. The 450,000-square-foot distribution facility is located within Imperial Center at 4121 Surles Ct. The location is also not far from Research Triangle Park. The seller in the transaction was Irvine, Calif.-based Crown Realty & Development, which purchased Essex Center in December 2007 as part of a 1.5 million-square-foot, Class A portfolio of office, flex and industrial space located within Imperial Center.

In September, EMC announced a 5-year, $280 million expansion plan in the Research Triangle. For Essex Center, EMC plans to construct a new data center and research and development laboratory within the building. The company expects to create 112 jobs at the center by 2015.

In a statement, Chris Norvell of Colliers Pinkard, one of the brokers involved in the sale, said, “We've seen very few sales this year in the state of North Carolina, but this sale demonstrates that there is still a market for quality properties in prime location.”

Norvell and Jackson Rivers, also of Charlotte, N.C.-based Colliers Pinkard, represented Crown Realty & Development in the sale. Ed Hoel and David Streeter of Cresa represented EMC Corp.

— Coleman Wood

You may also like