News release

West Raleigh office building trades for $9.25M

JLL Capital Markets led the sales efforts for the fully leased property at 5520 Capital Center Dr.

June 22, 2022

Kristen Murphy

Investor PR, Capital Markets, Hotels, Property Management
+1 617 848 1572

CAROLINAS, June 22, 2022 – JLL Capital Markets announced today that it has closed the $9.25 million sale of 5520 Capital Center Dr., a fully leased office building totaling approximately 36,008 square feet in Raleigh, North Carolina.

JLL represented the seller, and procured the buyer, Clear Path Asset Management, in the off-market transaction.

5520 Capital Center Dr. sits on a 3.67-acre site in the West Raleigh submarket, which boasts close proximity to Research Triangle Park, RDU International Airport and Downtown Raleigh. In addition, the property benefits from direct access to Interstates 40 and 440 providing access to the entire Raleigh-Durham metropolitan area and beyond.

The two-story building is fully leased to a high-profile tech company and offers exposed ceilings, open floorplans and a creative office atmosphere. On-site amenities include a fitness center, state of the art tenant lounge, and outdoor tenant amenity space.

The JLL Capital Markets team representing the seller was led by Directors Daniel Flynn and John Mikels, Executive Vice President Matt Winters, along with Senior Managing Director Ryan Clutter and Managing Director Chris Lingerfelt.

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 best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 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 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Clear Path Asset Management

Clear Path Asset Management is a real estate investment manager that acquires and improves privately held real estate. Since its inception, Clear Path has acquired over 280,000 square feet of retail, office and industrial properties.  It is currently considering additional investments across all types of commercial real estate, primarily within the Carolinas. It was founded in August 2018 by Dan Magid, who has over two decades of finance and institutional investment experience. Clear Path partners with high net worth accredited investors, family offices, and other investors, providing an ideal passive investment option for those that aim to acquire private real estate without the arduous complexities of making those investments directly. For more information, please visit clearpathasset.com.