JLL, Capital Associates Broker $17.7M Sale of Biomedical Partnership Center in Raleigh

RALEIGH, N.C. — JLL and Raleigh-based Capital Associates have co-brokered the $17.7 million sale of the Biomedical Partnership Center, a 44,835-square-foot flex/lab building in Raleigh. The newly built property is located at 1001 William Moore Drive on the North Carolina State University’s Centennial Biomedical Campus. Located on 2.6 acres at the corner of Blue Ridge Road and Hillsborough Street, the two-story property has nearby access to Interstates 40 and 440, N.C. Highway 54 and Raleigh-Durham International Airport. The Biomedical Partnership Center was 95 percent leased at the time of sale to multiple tenants. JLL and Capital Associates represented the seller, CBC Flex Lab LLC, and procured the purchaser, Flex III Subsidiary LLC, a Tennessee-based entity that purchased the facility in a 1031 exchange. Ryan Clutter, Scot Humphrey, Christopher Lingerfelt and Zack Drozda of JLL and Tom Huff of Capital Associates represented the seller.