Sale of Class A boutique office in Chapel Hill closes

CHARLOTTE, December 14, 2021 – JLL Capital Markets announced today that it has closed on the sale of 201 Sage Rd., a 37,145-square-foot, Class A suburban boutique office in Chapel Hill, North Carolina.

JLL marketed the property on behalf of the seller, Sage Road LLC. Koury Corporation acquired the office building.

Built in 2004, the three-story office building is currently fully-leased to a credit-worthy tenant roster comprised of healthcare and education tenants, including Duke University Heath System.

The property is located at the intersection of Interstate 40 and Durham-Chapel Hill boulevard providing superior access to downtown Chapel Hill and The University of North Carolina at Chapel Hill. This location offers an abundance of retail and dining amenities, including New Hope Commons and The Shops at Eastgate. Additionally, 201 Sage Rd. is close to many of the area’s top talent from UNC Chapel Hill and UNC Medical Center.

The JLL Capital Markets team representing the seller was led by Director Daniel Flynn, Senior Managing Director Ryan Clutter, Senior Director Chris Lingerfelt and Director John Mikels.

“This sale is a testament for investor demand for high quality assets featuring stable cash flow and credit worthy underlying tenancy,” said Flynn. “Moreover, investor appetite for medical office space buildings is at an all-time high, driving strong interest in healthcare real estate investment opportunities.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’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. JLL has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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