Thursday, November 30, 2006

Another Outside Investor Buys Big in Raleigh

newsobserver.com Sun Life of Canada buys N. Raleigh office buildings: "Sun Life Assurance Co. of Canada paid a California investment group $34.7 million for five North Raleigh office buildings -- the latest in this year's parade of Triangle office property sales"

Castle & Cooke took advantage of the strong momentum in the Raleigh market and cashed out of 170,000 square feet.

Deal Highlights as reported by the N&O Include:

- $21.9 million, or $129 per square foot, for the 170,000-square-foot Landmark Center at 4601 Six Forks Road.
-88% occupancy

-$12.8 million, or $103 per square foot, for four buildings totaling about 124,350 square feet on Six Forks Road at Horizon Drive.
-83% occupancy

Did I mention I love Raleigh.

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