OA Development Buys Four-Building Office Portfolio in Durham from Two Different Sellers for $31.4M

DURHAM, N.C. — OA Development has acquired four buildings located within Durham’s Imperial Center office park for $31.4 million. The Atlanta-based company acquired the Canterbury, Cambridge, Chelsea and Oxford buildings from two different sellers — ROC III Fairlead Imperial Center LLC and Crown Realty — and combined the assets to assemble one 211,308-square-foot portfolio. The Class B buildings were constructed in the late 1980s and are situated on 15 acres at the entrance of the 456-acre park. Scot Humphrey, Ryan Clutter and Chris Lingerfelt of HFF arranged the transaction on behalf of the sellers. Patterson Real Estate Advisory Group arranged acquisition financing for OA Development through SunTrust Bank.