HFF announces $4.5M sale of Lake Boone Tower in Raleigh-Durham, North Carolina
CHARLOTTE, NC – September 19, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $4.5 million sale of Lake Boone Tower, a 41,394-square-foot office building in Raleigh-Durham, North Carolina.
The HFF team represented the seller, a partnership of private investors. York Properties Inc. represented the buyer, Gateway Three Realty Associates, LLC.
Lake Boone Tower is located on a 2.08-acre site at 3801 Lake Boone Trail in the West Raleigh submarket. Just five miles outside of downtown Raleigh, the property has direct access to Interstates 440 and 40, which offer regional connectivity to the executive communities inside the beltline as well as downtown Cary and downtown Durham. Additionally, the four-story property is situated within the Lake Boone corridor, an established medial and office corridor home to Rex Hospital and retail developments Marketplace at Lake Boone, Lake Boone Shopping Center and Villages of Lake Boone Redevelopment. Lake Boone Tower is 84.6 percent leased to a variety of tenants, including Qualys and Hallam Engineering and anchored by The North Carolina Department of Labor. The office asset also features an 88-space, two-level parking deck for tenants and visitors.
The HFF investment sales team representing the seller included senior director Scot Humphrey, managing director Justin Good and senior managing director Ryan Clutter. Judson McMillan with York Properties represented the buyer. York Properties will handle both leasing services and property management.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a North Carolina licensed real estate broker.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.