Popularity of Raleigh-Durham assets on the rise
The dollar amount of class A and B office space sold in 2018 was more than three times the value sold in 2013
July 03, 2019
- The dollar amount of class A and B office space sold in 2018 was more than three times the value sold in 2013. 2018 was a massive year in itself with more than twice the dollar amount in sales than seen in 2017. This $1.9 billion accounts for nearly 9.0 million square feet of office space, marks Raleigh-Durham’s most active sales period since the end of the recession.
- The sale of the Wells Fargo Capitol Center last summer was the most expensive office transaction in the history of Raleigh-Durham. HighBrook Investment Management LP sold the tower to Preferred Apartment Communities for $173 million dollars – nearly $43 million dollars more than they bought it for in 2016. It traded for $317.73 per square foot.
Source: JLL Research