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Follow the money: investors take note of Raleigh-Durham assets

  • 2017 was a big year for the Raleigh-Durham market as office sales exceeded more than $800.0 million. While most investors came from the East Coast, Karlin Real Estate in California is the notable exception. In 2017, Karlin bought GlaxoSmithKline’s campus and DuPont’s office, lab and manufacturing space in the Research Triangle Park. Both pieces are part of Karlin’s greater strategy to create a technology and innovation campus in Raleigh-Durham, piggy-backing on the market’s growing reputation as a tech hub.

  • Large sales for the year include the sale of Hock Plaza, located in South Durham. The 327,160 square foot office building sold for $141.9 million to Harrison Street Real Estate Capital, a 44.7 percent increase from the building’s previous sale in 2010. 

  • Top 5 states for 2017 investment:

1. New York: $172.2 million

2. North Carolina: $151.9 million

3. Illinois: $141.9 million

4. California: $116.5 million

5. Georgia: $66.9 million 

*Sales include office sales, Class A and B, greater than 50,000 square feet ​

Source: JLL Research

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