July 31, 2019
NAI Carolantic Realty brokered the $39.7-million sale of the Northchase Executive Center, a two-building office campus in Raleigh.
Located at 6601 Six Fork Rd., the 176,620-square-foot property was built in the mid-1980s. The two buildings are currently 95% leased to a tenant roster that includes Merz North America, Globant, Phillips Architecture, Go Realty and Clean Design Inc. Previous owners of the campus invested more than $14 million in capital improvements and renovations.
Jimmy Barnes of NAI Carolantic represented the buyer, Utah-based investor JPB Raleigh Holdings, in the transaction. Ben Kilgore, Chandler Hawkins and Leslie Holmes of CBRE’s Raleigh office advised the seller, Principal Real Estate Investors LLC.
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