News release

Raleigh office property trades for $17.25M

JLL Capital Markets completed the sale of Lakeridge North, a 93%-occupied office asset in the Six Forks submarket 

November 29, 2022

Kristen Murphy

Capital Markets, Hotels & Hospitality and Value & Risk Advisory PR
+1 617 848 1572

RALEIGH – November 29, 2022 – JLL Capital Markets announced today that it has completed the $17.25 million sale of Lakeridge North, a 72,218-square-foot office building in Raleigh, North Carolina.

JLL represented the seller, TriGate Capital, in the sale of the property.  The buyer was a private investment fund that was represented by Richard Fisher of Hold Thyssen, Inc. and Michael Waldrop of Waldrop Properties, LLC.

Lakeridge North sits on 5.12 acres and is a four-story, multi-tenant office building that is 93% leased to a diverse tenant roster consisting of companies in finance, law, insurance, pharmaceuticals and more. The property was renovated in 2021 and features a new lobby, common areas, conference and training rooms and fitness center. 

The property is positioned on a lakefront setting at 900 Ridgefield Dr. within the Six Forks submarket. This highly attractive infill location is minutes from the North Hills mixed-use district with a rapidly improving demographic profile driven by millennial workers and young families moving to the area, and excellent access to all points of the Raleigh-Durham market.

The JLL Capital Markets team representing the seller was led by Directors Daniel Flynn and John Mikels, Senior Managing Director Ryan Clutter and Analyst Sarah Holloway.

“TriGate Capital executed a flawless value-add program at this asset, which created a very attractive stable, long-term investment opportunity for the purchaser,” Flynn commented. “Opportunities such as this are highly sought after by real estate investors seeking stability and cash flow during a period of global economic headwinds.”

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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

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 $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About TriGate Capital

TriGate Capital is a leading real estate investment manager focused on the recapitalization and repositioning of quality commercial real estate assets and companies. To learn more, please visit: