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HFF and Triad Commercial Properties close sale of 4-property office/bank portfolio in Greensboro, North Carolina

12/21/2016

CHARLOTTE, NC – December 21, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) and Triad Commercial Properties (Triad) announced today that they have closed the sale of four office/bank buildings totaling 136,860 square feet in the Greensboro-Winston-Salem-High Point area of North Carolina. 

HFF and Triad marketed the properties on behalf of the sellers, a joint venture between CBL & Associates Properties, Inc. and a pension fund investor advised by Heitman, and procured the buyer, Deep River Partners.   

The four-building portfolio is situated on approximately eight acres along Green Valley Road just west of downtown Greensboro and directly adjacent to the Friendly Center, the Triad’s premier shopping destination.  The two- and three-story properties located at 600, 620, 625 and 629 Green Valley Road, are 93 percent leased to tenants including Wells Fargo, Bank of America, First Citizens Bank and Stifel Nicolaus.  All of the buildings feature office space with ground floor retail banking operations of major multi-national and regional banks.

Director Scot Humphrey and senior managing director Ryan Clutter with HFF, along with Kevin Kemp and Jason Ofsanko with Triad Commercial Properties, represented the seller in the transaction.

“The strength of this location along with the positive fundamentals in the Greensboro market attracted a significant amount of interest from institutional buyers,” said Humphrey. “Well-located properties in the Triad will continue to command strong interest in 2017 as the market continues to flourish.”

About Heitman
Heitman is a global real estate investment management firm with $36.1 billion in assets under management.  Founded in 1966, the firm has 11 offices worldwide and is an active participant in three key segments of the global real estate property and capital markets.  Its collaborative investment process uses input from some of the most experienced investment and research professionals in the industry.

About Deep River Partners
Deep River Partners is a real estate development, management and investment firm based in central North Carolina.  The firm offers: real estate development ranging from single tenant NNN buildings to multi-acre office and retail; real estate investment, including a portfolio of office and retail projects along with those of accredited investors; and commercial property management overseeing two million square feet of office, industrial and retail space. deepriver.com

About Triad Commercial Properties
Triad Commercial specializes in office and industrial brokerage and advisory services for corporate and institutional clients.  Services provide include tenant representation, landlord representation, property disposition, buyer representation, sale/leaseback transactions, portfolio review and analysis, market analysis and build-to-suit analysis (in a brokerage advisory role).  The firm specializes in representing the interests of its clients in transactions across the United States, as well as select international assignments.

About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.  For more information please visit hfflp.com or follow HFF on Twitter @HFF.

 

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a North Carolina licensed real estate broker.

Source

HFF

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