HFF closes sale of Glenwood Plaza in Raleigh-Durham, North Carolina
CHARLOTTE, NC – May 30, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Glenwood Plaza, a 133,905-square-foot, Class A office building in Raleigh-Durham, North Carolina.
HFF marketed the property on behalf of the seller, American Realty Advisors, and procured the buyer.
Glenwood Plaza is situated on a ground lease across 8.8 acres at 3605 Glenwood Avenue, along the prestigious Glenwood Avenue corridor in West Raleigh. This “inside the beltline” location has superior regional connectivity via Glenwood Avenue/Highway 70 and Interstates 440 and 40, and easy access to Carolina Country Club, Crabtree Valley Mall, Downtown Raleigh, NC State University and PNC Arena. The five-story, fully leased property is anchored by BB&T Corporation and also functions as the headquarters for the law firm Manning, Fulton and Skinner, PA.
The HFF investment sales team representing the seller was led by director Scot Humphrey, senior managing director Ryan Clutter and associate director Chris Lingerfelt.
“Glenwood Plaza is one of the premier office buildings in the Raleigh market,” said Humphrey. “The prestige of this location, coupled with the robust economic growth occurring in Raleigh-Durham right now, generated a significant amount of investor interest in the offering.”
“We anticipate institutional interest will continue to intensify across the region over the balance of the year as the market’s fundamentals continue to outperform other peer markets,” added Humphrey.
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). 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. 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.