Investor picks up 6501 Weston Pkwy. in Cary for $24M
JLL Capital Markets represented Albany Road in the off-market sale of the North Carolina office property
CHARLOTTE – August 23, 2021 – JLL Capital Markets announced today that it has closed the $24 million sale of 6501 Weston Parkway., a 93,582-square-foot office property in Cary, North Carolina.
JLL represented the seller, Albany Road Real Estate Partners. The buyer was 6501 Weston, LLC, represented by NAI Tri Properties. The property was purchased in an off-market transaction.
6501 Weston Parkway offers three stories of office space that is currently 100% leased to a diverse tenant roster of companies comprising the telecommunications, staffing and biopharmaceutical industries.
The property is positioned on an 8.5-acre site close to Interstates 40 and 540 about five miles south of the Raleigh-Durham International Airport.
The JLL Capital Markets team representing the seller was led by Senior Director Chris Lingerfelt, Senior Managing Director Ryan Clutter and Director Ryan Eklund.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Albany Road
Albany Road was established in July 2012 to deliver attractive risk-adjusted and tax efficient returns to its high net worth and family office investors. Following an initial focus on opportunities in the Northeast, the firm expanded its reach into the Southeast and Southwest with the opening of offices in both Nashville and Dallas, and subsequent acquisitions in Tennessee, Georgia, North Carolina, South Carolina, Texas, Florida and Arizona.
Since its inception, the firm has made 50 investment totaling $1.3 billion in gross asset value and approximately 11.5 million square feet. Albany Road is currently deploying capital out of Albany Road Fund III, a $250,000,000 closed-end fund. For more, please visit: albanyroad.com.
About NAI Tri Properties
NAI Tri Properties a leading full service commercial real estate company headquartered in North Carolina’s Triangle region. The firm specializes in all facets of commercial real estate including brokerage and leasing, construction management, consulting, development, property management, tenant corporate services and investment services. For more information, please visit: triprop.com.