RALEIGH AND DURHAM, N.C. — A joint venture between Starwood Capital Group, Trinity Capital Advisors and Vanderbilt Partners has sold a seven-property office portfolio in Raleigh-Durham to an institutional investor for $105.5 million. The portfolio contains a total of 581,619 square feet within the Perimeter Park business park. The properties are located at 1500, 1600, 1700, 1800, 2000 and 2250 Perimeter Park and 3800 Paramount Parkway within the Research Triangle Park submarket of Raleigh-Durham. The portfolio is situated near Interstates 540 and 40, with access to Cary, West Raleigh and North Raleigh, as well as access to the Raleigh-Durham International Airport and Research Triangle Park. The portfolio was built in the 1990s and early 2000s. It is approximately 91 percent leased to tenants like QuintilesIMS, AECOM, TrialCard, UNC Physicians Network and Beacon Health Options. “This transaction demonstrates the strong appeal and growing appetite from institutional investors for well-positioned office investment opportunities in Raleigh-Durham and throughout the overall Carolinas market,” says HFF’s Ryan Clutter who, along with Scot Humphrey and Chris Lingerfelt, represented the sellers in this transaction. “Suburban office has proven to be a more challenging asset class to sell in many markets around the country, yet the Carolinas continue …
