December 9, 2020
JLL has arranged the sale of Southport Business Park, a 17-building industrial/flex park in Raleigh-Durham. The sales price was not disclosed.
The property is a 911,702-square-foot, light industrial/flex park situated at the center of the Raleigh-Durham market. Already with a significant existing lab footprint, the park is set up for further conversion to life science in the Raleigh-Durham market, which is consistently ranked as a top Life Science Cluster in the United States. The property is also nearby Raleigh-Durham’s Research Triangle Park, one of the largest dedicated scientific research parks in the country.
Patrick Nally, Ryan Clutter and Valerie Derrick of JLL represented the seller, GID, in the transaction. The buyer was a joint venture between funds affiliated with Starwood Capital Group and Trinity Capital Advisors.
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