Grubb Properties Buys 380,000 SF Office Campus in North Carolina for $6.1M

GREENSBORO, N.C. — Charlotte-based Grubb Properties has purchased a 380,000-square-foot, Class A office campus located on 46.7 acres at 4161 Piedmont Parkway in Greensboro. Grubb Properties purchased the asset from Cornerstone Real Estate Advisers, which was acting on behalf of an institutional investor, for $6.1 million, according to the Triad Business Journal. Originally built in 1994 as a build-to-suit for NationsBank, Bank of America leases roughly 75 percent of the three-story building. On-site amenities include a cafeteria, high-tech infrastructure, conference and training rooms and a card-reader security system at all entrances. Jonathan Smith of CBRE|Triad and Ben Kilgore of CBRE|Raleigh represented Cornerstone Real Estate Advisers in the transaction.