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Grubb Properties, Blue Vista Capital Sell Office Park in Durham for $16.2M

The previous ownership implemented a capital improvement program at Paradigm Park, including the addition of a new courtyard, redesigned entrances, improved landscaping, renovated lobbies and bathrooms and new HVAC and mechanical systems.

DURHAM, N.C. — Grubb Properties, in conjunction with Blue Vista Capital Management, has sold Paradigm Park, a two-building office campus in Durham, for $16.2 million. An undisclosed owner-occupant acquired the asset and will consolidate its operations at the new facility. The joint venture originally acquired the vacant, 147,477-square-foot property in 2015 for $6.6 million, and began a significant renovation and leasing program. Completed enhancements include a new courtyard, redesigned entrances, improved landscaping, renovated lobbies and bathrooms and new HVAC and mechanical systems. In addition, the renovation included the addition of a fitness center with locker rooms and a conference workspace. Paradigm Park is located adjacent to Research Triangle Park off Interstate 40.

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